IonQ Raises 2023 Booking Expectations to $50M in Half, Anticipates Bookings to Double Year-Over-Year

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Raises Booking Expectations to New $45M to $55M Range vs. Previous $38M to $42M Range

COLLEGE PARK, Md., June 23, 2023–(BUSINESS WIRE)–IonQ (NYSE: IONQ), a leader in quantum computing, today announced the company is raising its 2023 booking expectations by twenty-five percent (25%) at a range between $45 million and $55 million. Halfway through, IonQ now expects more than 100% booking growth from last years record bookings of $24.5 million.

IonQ’s increased booking expectations come on the heels of a recent CHF25.0 million ($28.0 million USD) commercial transaction that will see IonQ install two future quantum systems in Europe, including an anticipated future #AQ1 64 system. Such a quantum computer would be able to consider more than 18 quintillion different possibilities simultaneously and is expected to demonstrate a quantum advantage over the best supercomputers in a variety of applications. This transaction will also allow IonQ to serve its European customers from a joint data center, with IonQ and its partner each managing 50% of IonQ systems.

“IonQ continues to demonstrate strong commercial momentum and our ability to double year-over-year bookings in FY23 will be another major milestone,” said Thomas Kramer, IonQ’s Chief Financial Officer. “We are excited to continue our progress towards commercialization through our continued expansion into Europe.”

IonQ currently expects to deliver the first quantum system in Europe after 2023 and, therefore, the Company is not raising its expectations for recognized revenues in 2023. IonQ looks forward to continuing to update investors on the company’s financial prospects at the upcoming second quarter 2023 earnings call, the timing of which will be announced next month.

This increase in booking expectations follows a string of accomplishments for IonQ as the company continues its rapid growth. Earlier this year, IonQ announced that it had achieved its 2023 technical goal of demonstrating #AQ 29 on IonQ Forte seven months ahead of schedule. Today, IonQ launched Forte for commercial use with customers including Airbus, Hyundai and Los Alamos National Lab. Last quarter, the company announced it will open the first quantum computer manufacturing facility in the United States, supported by the US Congressional delegation. United States from the state of Washington.

1#AQ or algorithmic qubits is an application-oriented metric to assist industry in evaluating the utility of quantum computers in real-world settings. For more information, visit our blog post here.

About IonQ

IonQ, Inc. is a leader in quantum computing, with a proven track record of innovation and implementation. IonQ’s current generation quantum computer, the IonQ Forte, is the latest in a line of cutting-edge systems, boasting an industry-leading 29 algorithmic qubits. Along with record-breaking performance, IonQ has defined what it believes is the best path to scalability.

IonQ is the only company with its quantum systems available through the cloud on Amazon Braket, Microsoft Azure, and Google Cloud, as well as through direct access to APIs. IonQ was founded in 2015 by Dr. Christopher Monroe and Dr. Jungsang Kim based on 25 years of pioneering research. To learn more, visit www.ionq.com.

IonQ Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words “anticipate”, “expect”, “suggest”, “plan”, “believe”, “intend”, “estimate”, “goals”, “plans”, “should, ” “may,” “would,” “could,” “will,” “forecast,” and other similar expressions are intended to identify forward-looking statements. These claims include, but are not limited to, those relating to IonQ’s ability to further develop and advance its quantum computers and achieve scale; IonQ’s ability to reach #AQ 64; IonQ’s Market Opportunity and Expected Growth, including in Future Booking Results; IonQ commercial strategy and availability; and IonQ’s ability to successfully expand geographically, including with regards to the delivery time of its first quantum system in Europe. Forward-looking statements are forecasts, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: market adoption of quantum computing solutions and IonQs products, services and solutions; IonQ’s ability to protect its intellectual property; changes in the competitive industries in which IonQ operates; changes in laws and regulations affecting IonQs business; IonQ’s ability to implement its business plans, forecasts and other expectations and identify and execute further partnerships and opportunities; and the risk of market and technology sector downturns, including, but not limited to, as a result of the COVID-19 pandemic. The above list of factors is not exhaustive. You should carefully consider the foregoing factors and other risks and uncertainties described in the “Risk Factors” section of IonQ’s quarterly report on Form 10-Q for the quarter ended March 31, 2023 and other documents filed by IonQ from time to time with the Securities and Exchange Commission. These documents identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on forward-looking statements, and IonQ assumes no obligation and does not intend to update or revise any such forward-looking statements, whether as a result of new information, future events, or otherwise. IonQ makes no guarantees that it will meet your expectations.

View the source version at businesswire.com: https://www.businesswire.com/news/home/20230622772904/en/

Contacts

IonQ supports:
Tyler Ogoshi
press@ionq.com

IonQ Investors:
investors@ionq.com

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