Checking back in after a few days consumed by another project. Here’s a quick earnings season update:
IonQ is no stranger to big, big quarters, and just reported another, with third quarter revenue growing 336% year-over-year to $173.8 million. That makes six straight quarters of record revenue growth. It’s also become habit for IonQ to raise its guidance, and it did that again, boosting its full-year revenue outlook to the range of $505 million to $515 million, up from guidance of between $450 million and $460 million that was issued just two months ago. A lot was made of nearly $307 million in operational expense for the quarter, but the company still had about $1.7 billion in cash, cash equivalents, and short terms investments at the end of the quarter, and last month after the third quarter closed IonQ announced an additional $2 billion equity raise. Quantum development is no bargain, friends.
Following the recent closing of IonQ’s SkyWater Technology acquisition, the company also said SkyWater Foundry Services pulled in Q3 revenue of $83.5 million, with non-IonQ customer revenue growing by more than 30% year-over-year. That will be a category worth watching.
Other quantum company earnings to monitor:
Quantinuum – Reported last week. $9.1 million in revenue. Quantinuum also raised its full-year guidance, elevating from the previous range of $28 million to $32 million to the new outlook for $31 million to $34 million. Quantinuum also has a lot of cash in hand — more than $1.9 billion — to make its quantum dreams come true.
Quantum Computing, Inc. – Monday
Rigetti Computing – Tuesday
D-Wave Quantum – Tuesday
Horizon Quantum – Tuesday
Xanadu – Wednesday
Infleqtion – Next Monday, Nov. 16
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