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IonQ, a leader in the quantum computing industry, announced financial results for the quarter ended March 31, 2023. The company achieved their FY23 technical target of 29 algorithmic qubits (AQ) seven months earlier than expected, using their newest world-class quantum system, IonQ Forte. IonQ recognized revenue of $4.3 million for the first quarter, above the high end of the previously provided range, compared to $2.0 million in the prior year period. The company also signed a contract with the United Emirates Quantum Research Center – Technology Innovation Institute to explore how quantum computing can give the nation a competitive edge.
