ionQ demonstrated continued growth in revenue reaching $3.8 million in the fourth quarter versus $2.8 million in the third quarter and $1.6 million in the fourth quarter of 2021. Over the full year, they totaled $11.1 million versus $2.1 million in 2021. Orders in 2022 are at $24.5 million signaling more growth in 2023 with expected revenue of between $18.4 to $18.8 million for the full year. Net losses in Q4 were $18.6 million versus $23.9 million in Q3 and $74 million in Q4 2021. Over the full year, the company displayed a loss of $48.5 million versus a loss of $106 million in 2021. The company ended the year with $537 million in cash, cash equivalents and investments compared to $603 million at the end of 2021. The company benefited from the large inflow of cash it received from the SPAC merger in October 2021.
The company also summarized key commercial and technical highlights for the year including the acquisition of Entangled Networks, plans to build a quantum computing manufacturing center in Bothell, Washington, upgrading the performance of their Aria processors to reach the Algorithmic Qubit level of 25, and several customer collaborations including with Hyundai Motors, Accenture , and the Irish Center for High End Computing.
A press release announcing IonQ’s financial results has been posted on their website Here and a replay of their 2022 Fourth Quarter and Full Year Earnings Calls can be accessed by completing the registration form Here.
March 31, 2023