Thursday, April 4, 2024

So, Where Are We At With The Pure Plays? "Quantum computing Q4 2023 results: IonQ, Rigetti, D-Wave"

Question mark in headline? Betteridge's law doesn't apply to queries with non-binary answers,

From Data Center Dynamics, April 3:

Revenues up, losses up for quantum companies

Quantum computing companies IonQ, Rigetti, and D-Wave have posted their Q4 2023 quarterly results, as well as their end-of-year results.

All three companies posted increased revenues, but continue to see losses. All three say commercially useful quantum computers are a few years away but promise to open a market with tens, if not hundreds, of billions of dollars.

IonQ: co-founder and CTO Kim to return to academia
Q4 2023 saw IonQ post $6.1 million in revenue. Quarterly net loss was $41.9 million and Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) loss was $20m.

For the whole year, IonQ posted $22 million in revenue. Across 2023 as a whole, net loss was $157.8 million and Adjusted EBITDA loss was $77.7 million.

“IonQ had a landmark year in 2023, meeting and exceeding our financial expectations, and accomplishing our technical goals early,” said Peter Chapman, President and CEO of IonQ. “We sold four systems, unveiled the designs for our upcoming generations, and opened our new Seattle manufacturing facility to begin producing more systems to fulfill our growing pipeline. IonQ’s pipeline for 2024 is stronger than ever, and our sale of two systems in Europe last year is accelerating interest in system purchases, especially in Europe.”

The company secured $6.7 million in new bookings for the fourth quarter and $65.1 million for the full year. The company didn’t book any hardware sales in Q4.

For the full year 2024, IonQ expects revenue to be between $37 million and $41m; bookings are expected to be between $70 million and $90m.

During the quarter, the company said it had demonstrated its forthcoming photonic integrated circuit, or PIC, technology in a lab setting. This technology will allow for the light that controls qubits to be routed directly to QPUs. The company said this means it can reduce reliance on lenses and mirrors within the computers.

Work on the company’s first production-class IonQ Forte Enterprise systems has started in its new Seattle manufacturing facility, with plans to begin delivery to customers by the end of 2024.

The company also said it achieved algorithmic qubits (#AQ) 36 on IonQ Forte, which CEO Peter Chapman said ‘effectively doubled the computational space’ of the system.

IonQ co-founder and CTO, Jungsang Kim, is to leave his position to focus on his academic duties at Duke University. He will continue to advise IonQ as a scientific adviser.

Rigetti: Company to deliver a QPU to the UK's National Quantum Computing Centre...


Google and the rest of the behemoths don't break out revenues and losses for their quantum 'puter efforts.