Ankabala
IonQ (NYSE:IONQ) shares slid 3% in post-market trading Wednesday after the quantum computing company issued guidance and a mixed Q2 earnings report, along with announcing that its CEO had been appointed to the additional position of chairman.
For the quarter ended June 30, IonQ (NYSE:IONQ) posted a widened net loss of $0.70 per share on higher year-over-year revenue of $20.7M. Analysts, on average, were expecting a net loss of $0.29 per share on revenue of $17.23M.
“I am pleased to report that we beat the top end of guidance for Q2 revenue by 15% and strengthened our balance sheet via the largest equity investment from a single institution in the quantum industry,” said IonQ CEO and Chairman Niccolo de Masi, in a statement. “We also made very tangible progress towards delivering our #AQ64 application performance benchmark, with strong indications that it will be achieved in the near term.”
Looking ahead, IonQ said that it expects to report Q3 revenue in the range of $25M to $29M and 2025 revenue between $82M and $100M. Analysts, on average, were expecting Q3 revenue of $25.52M and 2025 revenue of $85.56M.
The company said that as of July 9, it had $1.6B pro forma in cash, cash equivalents and investments, due in part to a recent $1B equity financing.
IonQ (IONQ) also announced that its board has appointed de Masi as chairman. It added that its executive chairman, Peter Chapman, has stepped down from both his chairmanship and the board.