IonQ Inc (NYSE:IONQ) reported financial results for the first quarter Wednesday after the market close. Here’s an overview of the quantum computing company’s report.
IonQ ended the quarter with $697.1 million in cash, cash equivalents and investments.
“We delivered important commercialization and expansion milestones for both our quantum computing and quantum networking businesses,” said Niccolo de Masi, CEO of IonQ.
“We’re delivering real-world value for our customers today, including a recent demonstration of a 12% speed improvement over classical computing in a simulation of a heart pump using quantum processed data and a production product by our partner Ansys.”
IonQ announced plans to acquire Lightsynq Technologies, as well as plans to launch a global space-to-space and space-to-ground satellite quantum key distribution network in connection with the earnings release.
Guidance: IonQ expects second-quarter organic and inorganic revenue of $16 million to $18 million versus estimates of $16.93 million, according to Benzinga Pro. The company expects full-year 2025 organic and inorganic revenue to be in the range of $75 million to $95 million versus estimates of $85.42 million.
IONQ Price Action: IonQ shares were up 2.13% after hours, trading at $29.74 at the time of publication Wednesday, according to Benzinga Pro.
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Photo: courtesy of IonQ.
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