Zinger Key Points
- IonQ expects 2024 results at the high end of its guidance, with strong growth driven by quantum computing and AI advancements.
- IonQ aims for profitability and $1B in sales by 2030, while leading in quantum AI and networking amidst growing global investment.
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IonQ, Inc. IONQ remains optimistic about its future, expecting strong 2024 results and outlining plans to lead in quantum AI and networking.
Today, the firm announced that it expects 2024 results to be at the high end of its bookings and revenue guidance ranges of $75 million—$95 million and $38.5 million—$42.5 million (current estimate: $41.64 million), respectively. The company also stated that it is extremely excited about 2025.
The company’s Chairman and CEO, Peter Chapman, emphasized that IonQ is well-positioned to tackle increasingly complex challenges through its quantum computing systems.
Meanwhile, in other news, IonQ’s top peer D-Wave Quantum Inc. QBTS said it expects significant booking growth for fiscal year 2024. The company reported that its bookings will exceed $23 million, marking a 120% increase over fiscal year 2023.
In a statement Chapman said IonQ’s AQ 36 Forte Enterprise systems already deliver valuable insights to customers, while the upcoming AQ 64 Tempo systems, set for 2025, will expand its capabilities.
Additionally, IonQ’s next-generation AQ 256 systems are expected to bring even more business value.
Chapman highlighted the growing importance of quantum AI, forecasting that natively quantum AI will eventually outperform classical AI in solving complex problems.
The company highlighted that the quantum computing field has seen massive investments, with global quantum investment reaching $50 billion by the end of 2023. Companies such as Amazon, Google, and IBM are heavily investing in the quantum computing space.
Looking to the future, IonQ is aiming for profitability and projected sales nearing $1 billion by 2030, driven by continued innovation and strong demand for quantum solutions.
Price Action: IONQ shares are trading higher by 4.30% to $31.55 at last check Friday.
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