IonQ delivers huge Q1 sales beat, hikes full-year revenue guidance

IonQ delivers huge Q1 sales beat, hikes full-year revenue guidance

Trapped-ion quantum computing company IonQ just posted a very impressive set of Q1 sales, sending shares higher in postmarket trading.

In Q1, the largest quantum computing company by market cap and sales reported:

Revenue of $64.7 million (compared to analyst estimates of $49.7 million and guidance for $48 million to $51 million).

An adjusted loss per share of $0.34 (estimate: a $0.24 loss).

Management expects Q2 sales between $65 million and $68 million (estimate: $54.9 million), and raised its full-year sales guidance by $25 million to a range of $260 million to $270 million.

The quantum computing space has gotten its mojo back as of late as speculative appetite returned in April after the US and Iran agreed to a ceasefire, with the cohort later turbocharged after Nvidia unveiled a suite of open models designed to leverage AI to improve calibration and error correction for quantum computers.