IonQ (IONQ) shares rose more than 3% in extended trading on Wednesday after it upped its revenue forecast for fiscal 2025.
The College Park, Md.-based company now expects to generate between $106M and $110M in revenue, above the $91.33M estimate and well above the company’s previous guidance range of $82M to $100M. IonQ also reaffirmed its Adjusted EBITDA loss midpoint guidance, with a range of between a loss of $206M and $216M.
“I am pleased to report that we once again beat the high end of our revenue guidance, this time by 37%,” said Niccolo de Masi, Chairman and CEO of IonQ, in a statement. “We are also raising our revenue expectations for the full year to $110 million, at the high end of guidance. We delivered our 2025 technical milestone of #AQ 64 three months early, unlocking 36 quadrillion times more computational space than leading commercial superconducting systems. We achieved a truly historic milestone by demonstrating world-record 99.99% two-qubit gate performance, underscoring our path to 2 million qubits and 80,000 logical qubits in 2030.”
The increase in guidance comes after IonQ said revenue soared 221.5% year-over-year to $39.87M, well above the $26.99M estimate. The company lost $3.58 per share, compared to the estimate of a loss of $0.44 per share.
The company will host a conference call at 4:30 p.m. EST to discuss the results.