IonQ, Inc. (NYSE:IONQ) Q3 2022 Earnings Conference Call November 14, 2022 4:30 PM ET

Company Participants

Jordan Shapiro - IR

Peter Chapman - President, CEO & Director

Thomas Kramer - CFO

Jungsang Kim - Co-Founder & Chief Technology Officer

Christopher Monroe - Chief Scientist

Conference Call Participants

Quinn Bolton - Needham & Company

David Williams - The Benchmark Company

Richard Shannon - Craig-Hallum

Kevin Garrigan - WestPark Capital

Operator

Greetings, and welcome to IonQ's Inc. Third Quarter 2022 Earnings Conference Call. [Operator Instructions]. I would now like to turn the conference over to your host, Jordan Shapiro. Thank you. You may begin.

Jordan Shapiro

Good afternoon, everyone, and welcome to IonQ's Third Quarter 2022 Earnings Call. My name is Jordan Shapiro, and I am the Vice President of Financial Planning and Analysis and Head of Investor Relations here at IonQ. I am pleased to be joined on today's call by Peter Chapman, IonQ's President and Chief Executive Officer; Thomas Kramer, our Chief Financial Officer; Dr. Chris Monroe, our Co-Founder and Chief Scientist; and Dr. Jungsang Kim, our Co-Founder and Chief Technology Officer. By now, everyone should have access to the company's third quarter 2022 earnings press release issued this afternoon, which is available on the Investor Relations section of our website at investors.ionq.com.

Please note that on today's call, management will refer to adjusted EBITDA, which is a non-GAAP financial measure. While the company believes this non-GAAP financial measure provides useful information for investors, the presentation of this information is not intended to be considered in isolation or as a substitute for the financial information presented in accordance with GAAP. You are directed to our press release for a reconciliation of such measures to GAAP. During the call, we will discuss our business outlook and make forward-looking statements. These comments are based on our predictions and expectations as of today. Actual events or results could differ materially due to a number of risks and uncertainties, including those mentioned in our most recent filings with the SEC.

Now I will turn it over to Peter Chapman, President and CEO of IonQ. Peter?

Peter Chapman

Thanks, Jordan. This has been a fantastic quarter, and I'm excited to dive into the details with you. But to start, I'd like to contextualize where IonQ stands today after a year of being public. To date, our system performance has consistently outpaced every other quantum computer available to the public. As you'll hear today, we're continuing to hit our technical milestones, and we believe that we are building the winning approach for quantum computing. We are translating our technology into meaningful business impact for our customers and are currently on track to hit all of our commercial milestones for 2022. We also have a strong balance sheet, which we view as a competitive advantage in the quantum computing industry, especially in this market. While we are disciplined in managing our costs, having this cash allows IonQ to accelerate while others may have to pull back. The market is noticing customers are noticing, governments are noticing and talent is noticing. The results are increasingly clear. IonQ is the place to be for quantum computing. We believe we have a clear plan to continuing leading the quantum industry and to make quantum computing a ubiquitous technology. Our focus is to win the quantum space race by reducing the time to market for quantum computers that rival the best supercomputers.