- IonQ, Inc IONQ shares gained Friday morning after clocking upbeat fourth-quarter results.
- IonQ reported Q4 revenue growth of 131% year-on-year to $3.81 million, beating the consensus of $3.19 million.
- EPS loss of $(0.09) beat the consensus loss of $(0.13).
- Adjusted EBITDA was ($13.3) million, compared to ($8.0) million in the prior year period.
- IonQ expects FY23 revenue of $18.4 million – $18.8 million (consensus $18.22 million), with Q1 revenue of $3.6 million – $4.0 million (consensus $3.48 million).
- “IonQ had a fantastic 2022. We continue to lead our industry as the most advanced and well-capitalized public pure-play quantum computing company in the world, and by a wide margin,” said Peter Chapman, President and CEO of IonQ.
- Needham analyst Quinn Bolton reiterates IonQ with a Buy and maintains a $9 price target.
- Price Action: IONQ shares traded higher by 25.2% at $6.36 on the last check Friday.
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