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IonQ expects 2022 revenue to be 5x higher than 2021

IonQ, a leading quantum computing company, discusses its finances with IQT News
By Dan O'Shea posted 29 Mar 2022

Here’s something we need to start getting used to: Publicly-traded, pure-play quantum computing firms reporting their earnings results. Rigetti did so earlier this month, and Monday it was IonQ’s turn.

As with Rigetti’s results, the intriguing part of IonQ’s earnings wasn’t so much the numbers themselves, which remain small, but the rapid rate of growth the company is starting to see and that it expects for the future.

IonQ achieved $2.1 million in revenue for the full year, which was 31% above the $1.6 million IonQ forecasted on in the company’s estimate after the third quarter last year. IonQ also ended up with $16.7 million in contract bookings for the full year, more than triple the amount that it had forecast as recently as September last year. It appears from these two statements that the company had a very active fourth quarter.

Peter Chapman, President and CEO of IonQ, backed up that observation, saying, “Our fourth quarter results are testament to our success in both technology development and rapid commercialization.”

For this year, things are looking even better, as IonQ said that for the full year 2022, it expects revenue to be between $10.2 million and $10.7 million, about five times the 2021 figure, with between $1.8 million and $2.0 million for the first quarter.

IonQ also anticipates full year 2022 bookings of between $20 million and $24 million, with between $3 million and $4 million for the first quarter.

Here’s a link to the earnings release, which also has information about the archived earnings webcast and call.

Categories: quantum computing

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