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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