IonQ Inc (NYSE:IONQ) reported third-quarter financial results after the bell on Wednesday. Here are the key highlights from the quarter.
Q3 Earnings: IonQ said third-quarter revenue increased 122% year-over-year to $6.1 million. The company reported a net loss of 22 cents per share.
IonQ reported $26.3 million in new bookings for the third quarter, bringing year-to-date bookings up to $58.4 million.
The company ended the quarter with $485.1 million in cash, equivalents and investments.
"I am pleased to report we have achieved our goal of $100 million in cumulative bookings within the first three years of commercialization, since 2021, and are on track to exceed that goal by the end of 2023," said Peter Chapman, president and CEO of IonQ.
Outlook: IonQ expects fourth-quarter revenue of $5.3 million to $6.1 million. The company raised its full-year 2023 revenue outlook to a new range of $21.2 million to $22 million. IonQ also lifted its bookings outlook for the full year to a range of $60 million to $63 million.
"IonQ's commercial pipeline is bigger and better than ever and our technical momentum, while always arduous, continues to be ahead of schedule," Chapman added.
Management will hold a conference call to discuss these results at 4:30 p.m. ET.
IONQ Price Action: IonQ shares were up 3.24% after hours at $11.75 at the time of publication, according to Benzinga Pro.