The following is a summary of the IonQ, Inc. (IONQ) Q4 2023 Earnings Call Transcript:
Financial Performance:
IonQ reported Q4 revenue of $6.1 million with a total of $22 million in revenue for the full year, a 98% year-over-year increase.
The full-year operating costs and expenses were $179.8 million, an 86% increase from 2022, and Q4 net loss was $1.9 million.
Total bookings for the year stood at $65.1 million, surpassing their projected target of $40 million.
IonQ expects revenues between $37 million and $41 million and bookings between $70 million and $90 million in 2024.
Anticipated an adjusted EBITDA loss of $110.5 million for the full year 2024 at the midpoint of their revenue guidance.
Business Progress:
IonQ announced developments in their quantum algorithm which proved to be more efficient than classical equivalents.
IonQ's 2024 technical milestone of 35 algorithmic qubits was achieved a year early.
Progress in hardware, software, and production improvements indicate continued growth in areas of quantum computing, networking, and AI.
The Seattle manufacturing facility was expanded by 50% to meet predicted demand.
Two new members were added to the IonQ board of directors, contributing their experience in federal relations and global sales.
IonQ maintains academic-industry connections with the University of Maryland and Duke for IP generation.
The company also reported progress with photonic interconnect, aiming to complete this project within the next year.
More details: IonQ Inc IR
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