IonQ (IONQ) investor relations material

Financial performance and outlook

• Achieved $130 million in revenue last year, with guidance for up to $270 million this year, aiming to double year-over-year growth at the midpoint of guidance.

• Strong $470 million in remaining performance obligations (RPOs) and $3 billion in available cash support long-term investment and growth.

• Computing business remains the primary revenue driver, with future expansion into sensing, atomic clocks, and quantum-secure networking.

Technology roadmap and milestones

• Transitioning from laser-based to electronic/RF control for ion trap quantum computers, leveraging semiconductor manufacturing expertise.

• Fifth-generation Tempo system (100 qubits) is the last laser-based platform; 256-qubit electronic control system prototype is developed and ahead of schedule.

• Roadmap targets 10,000 qubits next, with modular upgrades planned for scalability and customer retention.

• Long-term vision includes scaling to 2 million physical qubits by 2030, with most science breakthroughs achieved and focus now on engineering and manufacturability.

Competitive landscape and industry trends

• Ion trap and superconducting modalities are leading quantum computing approaches, with others like photonics and neutral atom still developing.

• Industry expected to consolidate around a few modalities, but a heterogeneous, multimodal environment is anticipated in the next five years.

• Differentiation through electronic control, modularity, and platform-agnostic networking; also supplies components to other quantum companies.