IonQ reports Q4 EPS (20c), consensus (20c)

Reports Q4 revenue $6.1M, consensus $5.8M. “IonQ had a landmark year in 2023, meeting and exceeding our financial expectations, and accomplishing our technical goals early,” said Peter Chapman, CEO. “We sold four systems, unveiled the designs for our upcoming generations, and opened our new Seattle manufacturing facility to begin producing more systems to fulfill our growing pipeline. IonQ’s pipeline for 2024 is stronger than ever, and our sale of two systems in Europe last year is accelerating interest in system purchases, especially in Europe. With the rise of generative AI, we are increasingly hearing from customers about the prohibitively expensive and lengthy compute resources-upwards of $1 billion and 3 months-required to train certain large language models. We estimate that to fully simulate 64 algorithmic qubits, you would need 3.6 billion GPUs, and that by shifting AI workloads to our increasingly powerful quantum computers, IonQ can help address the world’s next great computing challenge. We are eager to work with our customers on the next era of computing and networking in 2024 and beyond.”