IonQ, Inc. (NYSE:IONQ) Q3 2023 Earnings Call Transcript November 8, 2023 4:30 PM ET

Company Participants

Jordan Shapiro - VP, FP&A, Head of IR

Peter Chapman - President and CEO

Thomas Kramer - CFO

Dean Kassmann - Vice President of Engineering

Conference Call Participants

David Williams - Benchmark Company

Quinn Bolton - Needham

Trevor Janoskie - Goldman Sachs

Operator

Good day, and welcome to IonQ Third Quarter 2023 Earnings Call. All participants are in a listen-only mode. [Operator Instructions] Please note, this is conference is being recorded.

I would now like to turn the conference over to Jordan Shapiro. Please go ahead.

Jordan Shapiro

Good afternoon, everyone, and welcome to IonQ's third quarter 2023 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; and Dean Kassmann, our Vice President of Engineering.

By now, everyone should have access to the company's third quarter 2023 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 adjusted EBITDA to its closest comparable GAAP measure.

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 10-Q that we intent to file with SEC tomorrow. We undertake no obligation to revise any statements to reflect changes that occur after this call except as required by law.

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

Peter Chapman

Thanks Jordan. And thanks to everyone for joining us today. Today, we are calling in from our new Seattle office, which is our location for manufacturing quantum computing systems at scale. We are very happy with financial and technical progress that we have made this quarter and so far this year. We are seeing a clear pickup in interest from early adopters of Quantum Computing, with revenue of $6.1 million in Q3 2023, representing a 122% increase further prior year period.