IONQ stock continues its parabolic explosion higher after the company announced its bookings had doubled over the previous year.

IONQ is a company that focuses on quantum computing. They aim to build and commercialize general-purpose quantum computers using trapped-ion technology. IONQ develops hardware and software solutions to harness the power of quantum systems for solving complex problems and advancing scientific research. Their quantum computers are designed to offer high performance, scalability, and stability, in order to tackle a wide range of computational challenges that conventional computers cannot efficiently handle.

IonQ raises 2023 bookings view to $45M-$55M from $38M-$42M

On June 23, 2023, IonQ announced that the company is increasing its 2023 bookings expectations by 25% to a range of $45M-$55M. At the midpoint, IonQ is now expecting more than 100% growth in bookings compared to last year’s record bookings performance of $24.5M. IonQ’s increased bookings expectation comes on the heels of a recent $28M commercial transaction that will see IonQ install two future quantum systems in Europe, including an anticipated future #AQ1 64 system. Such a quantum computer would be capable of considering more than 18 quintillion different possibilities simultaneously, and is anticipated to demonstrate quantum advantage over the very best supercomputers across a variety of applications. This transaction will also allow IonQ to service its European customers out of a joint data center, with IonQ and its partner each managing 50% of the IonQ systems. IonQ currently anticipates delivering the first quantum system in Europe after 2023 and, as such, the company is not increasing its expectations for 2023 recognized revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th....

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