IonQ Inc IONQ shares are trading lower in Monday's after-hours session after the company reported mixed third-quarter financial results.
IonQ reported third-quarter revenue of $2.76 million, which beat average analyst estimates of $2.73 million, according to Benzinga Pro. The company reported a quarterly net loss of 12 cents per share, which missed average estimates for a loss of 10 cents per share.
Bookings totaled $16.4 million in the third quarter. The company ended the quarter with $555.8 million in cash and equivalents.
"During the quarter, we announced a $13.4 million contract with the U.S. Air Force Research Lab, which represents a major step in hitting our bookings goal for the year and in the public-private effort to bring quantum technology into the mainstream," said Peter Chapman, president and CEO of IonQ.
IonQ expects fourth-quarter revenue to be between $2.9 million and $3.4 million. The company expects full-year revenue to be between $10.2 million and $10.7 million versus average estimates of $10.64 million.
IonQ is a leader in quantum computing with a proven track record of innovation and deployment.
IONQ Price Action: IonQ has a 52-week high of $17.86 and a 52-week low of $4.16.
The stock was down 6.74% in after hours at $5.60 at time of publication.
Photo: courtesy of IonQ.
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