IonQ stated that this amount triples their initial target for 2021 bookings which was originally $5 million. These bookings are expected are for deliverables that would be provided over the next 36 months. It certainly an optimistic sign that the bookings levels are increasing but IonQ still has a long way to go in order to hit its financial forecast. In an investor presentation made by the IonQ and dMY management in February 2021, they forecasted billings revenue to be about $5 million in 2021, $15 million in 2022 and $34 million in 2023. So not only will they need more bookings to continue, but also they need to make sure that the $15 million bookings turns into revenue. The merger between IonQ and dMY is expected to be completed very soon. In the meantime, IonQ has busy announcing several significant developments this year including a new reconfigurable multicore architecture, support from the Project Q, Qiskit, Pennylane, and Cirq software development platforms, availability on the Google cloud, a free research credit program for academic institutions, and an investment and partnership with Softbank. For more about this latest bookings announcement, you can see a news release provided by IonQ available here.
September 9, 2021