- IONQ Inc (NYSE:IONQ) reported fourth-quarter revenue of $1.65 million, beating the consensus estimate of $1.14 million.
- Total contract bookings were $1.5M (115% beat) in Q4.
- Loss from operations expanded to $(10.84) million, compared to $(4.93) million a year ago. EPS fell to $(0.39) from $(0.04) in 4Q20.
- Adjusted EBITDA loss widened to $(7.93) million for the quarter, compared to $(3.98) million in 4Q20.
- IONQ’s net cash used in operating activities totaled $26.54 million in FY21 versus $12.07 million in FY20.
- Cash, cash equivalents, and investments were $603 million as of December 31, 2021.
- 1Q22 Outlook: The company expects revenue between $1.8 million and $2.0 million and bookings between $3 million and $4 million.
- FY22 Outlook: IonQ expects revenue between $10.2 million and $10.7 million versus a consensus of $5.23 million and bookings of between $20 million and $24 million.
- It anticipates an adjusted EBITDA loss of $55 million at the midpoint of the revenue outlook.
- IonQ believes that over the next two years, one or two system sales could push combined TCV contract bookings over nine figures for the three years from 2021 to 2023.
- In February, IonQ announced that the latest-generation IonQ Aria system achieved a record 20 algorithmic qubits.
- In March, Microsoft announced official plans to bring IonQ Aria to the Azure Quantum Cloud, democratizing access to the world’s most powerful quantum computer.
- Price Action: IONQ shares are trading higher by 3.88% at $13.65 during the post-market session on Monday.
