Peter. you, Thank
quantum production touch made support I systems, R&D. host support gearing our important identified plans first leading hardware financial understanding Dave to networking he Mehuys joins progress a we to brings share have to Dr. President after a manufacturing PsiQuantum, at I at into us wanted to production, To hired Before demand teams some where facility for Mehuys robust I'm our throughout of quantum assembly for operations, organizational on that our as him. Engineering Engineering. we Product in customer and and excited results, jump we of Vice with quantum oversaw and We're up Seattle the our have anticipate level. line R&D Systems computers.
are of Israel. international our IonQ's we Germany first the with in expanding Additionally, reach creation entities and internationally sales
Program to We at Managing join after growth Europe. Most recently, the Europe. Noam sales also almost quantum decades IBM oversee three Noam our as us IonQ our Germany Director named IBM. of as Director in Zakay
we a to rapidly on We to Dave gear service are as expanding market. and thrilled up Noam welcome board
organizations is More demand getting quantum, worldwide some XXXX than $XX and slowing capture between billion not more XXXX. worldwide investment And As we down. more to this in a to are quantum stage. on was are explore starting to invested ready pay and
million to both expect size, government contribute With commercial example, increasing inbound market in XXXX, R&D requests local quantum we a information participate to opportunities the momentum a in double themselves million. as is of this ever. will are we requested belief long-term larger our reported the will in At from the our experiencing. as nearly U.S. $XXX a larger opportunity being a XXXX itself in in manifest number from $XXX strong which to and to As leads piece, IonQ going science investment
revenue high-end our period to outperformed walk the with is expected for in a through recognized projections results in to let's more We implementation revenue Now, This quarter compares of and faster in above usage. year increased the prior due million previously the second range. our provided than quarter detail. $XX,XXX $X.X and
XXXX, up second quarter period. XXX% expenses million, Moving second our QX $X.X were down To and million, statement, the up operating period. from the prior million XX% the this $XX.X our cost research income $X.X from development quarter comparable prior year down cost for year the for $XX.X break in further, the and were in total million for
We building more for expected anticipated and of originally R&D year. this continue in than to invest demand heavily given systems
Our from $XXX,XXX second year their in were quarter million, $X.X up XXX% period. sales prior marketing in costs the and
for and sales increasing marketing come. We today will in continue commercial us momentum to position for to investment years believe
$X.X from attributable This to was year comparable an Our $X.X the $X.X which up comparable in period. expense, general quarter change million million prior cost increase the $X.X compensation in compared was million prior second million, administrative in in period. is quarter for the second the year and based largely stock XXX% to
to the second fair compared include warrant these the of resulted year million non-cash important quarter All loss in of results prior a the to for $X.X to a in this $XX million million note gain the related that a of liability. period. in It's net second value $XX.X quarter of
to in quarter year second of loss the an EBITDA a we million loss adjusted prior compared adjusted saw $XX.X EBITDA the $X Additionally, period. million for
Turning and investments to balance cash June now as XXth, sheet. XXXX, of our were million. Cash, equivalents $XXX.X
gives roadmap. our us to this We profitability to needing given believe continue to raise funds, reserve get cash without additional current sufficient to
fiscal full continue we revenue full million. to million $XX.X confidence $XX.X our year XXXX XXXX on of Focusing to range in have our outlook,
and XXXX million for quarter We in achieved between revenue compared We the expect third to $XXX,XXX quarter $X.X be to period. in $XX,XXX $X.X the million. bookings QX,
interest As range for we confidence have negotiating million deals we XXXX, will million. level and maintaining of are that expected close. This are $XX currently reflects full high we fiscal are the of to the customers seen $XX our range from
we in continue that expect quite lumpy in economic be bookings our exactly close. confidence moving to than hard rather which will predict noted basis annual and providing some This outlooks to we it business quarterly As will provide forward. believe be overall bookings We basis an on prior to to better sometimes calls, capture can have accurately quarter deals we our means for while annual have on time. performance, on outlooks outlook only a intend
While we to booking delays leading conditions, achieve the sector. our we present across with forecast, acknowledge feel the associated market it technology believe which prudent the also will risk to we is is contracting
some in unclear, is miss that value forecast all IonQ. may have we of these will with We, We but identified remain contract or million our of believe us booking customers $XX lead nevertheless, that likely XXXX. stage close, to to timing opportunity is this precise which in late confident
noted the have are we seeing in increase market. We demand the across
in expectation large, In be Our with capture happy that our demand our is will gusto for and that in the in summary, prevalent meantime, opportunities that expectations. we confident team remain in our stage these with forecast In is pipeline line market conditions, that late to keep the smooth to we previous to even to market out. our spend IonQ. say lumpiness eventually ability begins approaching this enough our are
continue R&D our $X.X market than and continues manufacturing to to a systems. be significant in position investments billion for us more advantage the delivering and leading company cash make Our enable to
