IONQ - IonQ bumps up full year bookings guidance yet again stock adds 7% after hours
2023-08-10 18:25:38 ET
Shares of IonQ ( NYSE: IONQ ) on Thursday rose 7% in extended trading, after the quantum computer maker posted a quarterly record for bookings and increased its full year guidance.
IONQ stock gained 7% to $15.18 after hours.
The company's Q2 loss per share widened Y/Y to 22 cents, missing expectations by $0.14 . Revenue, however, more than doubled to $5.52M and beat estimates by $1.16M .
IonQ ( IONQ ) went public through a SPAC merger in 2021. The College Park, Md.-based company has developed a current generation quantum computer called IonQ Forte, which has a capacity of 29 algorithmic qubits.
Quantum machine learning works by using quantum bits, or "qubits" to perform computation on input data using quantum circuits.
IONQ said Q2 bookings were $28M, a record for the company, bringing total bookings in H1 to over $32M.
"We are now well on our way to our revised, higher bookings expectations of $49M to $56M for the year. We are also within striking range of our goal of $100M in cumulative bookings within the first three years of IonQ’s ( IONQ ) commercialization, starting in 2021," the company's top boss Peter Chapman said in a statement .
IONQ had earlier in June already raised its full year bookings guidance to $45M to $55M.
Additionally, IONQ on Thursday raised its full year revenue guidance to $18.9M-$19.3M from a prior range of $18.8M-$19.2M (consensus estimate is $19.37M). Q3 revenue is expected to be between $4.8M-$5.2M versus a consensus estimate of $4.95M.
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IonQ bumps up full year bookings guidance yet again, stock adds 7% after hours