IONQ met their technical target of 29 algorithmic qubits (#AQ) seven months earlier than expected. IonQ Forte is their newest quantum system. IonQ Forte represents a 16x step up in power from the IonQ Aria system. IonQ’s qubits are trapped ionized ytterbium atoms, a silvery rare-earth metal. Each ytterbium atom is perfectly identical to every other ytterbium atom in the universe.
First Quarter 2023 Financial Highlights
IonQ recognized revenue of $4.3 million for the first quarter, above the high end of the previously provided range, compared to $2.0 million in the prior year period. This reflects some activities for one of IonQ’s customer contracts taking place earlier than expected, shifting revenue dollars into the first quarter.
IonQ achieved $4.1 million in new bookings for the first quarter.
Cash, cash equivalents and investments were $525.5 million as of March 31, 2023.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.
