IONQ Inc (IONQ) 2023 Q3 法說會逐字稿

Good day, and welcome to IonQ Third Quarter 2023 Earnings Call. (Operator Instructions)

美好的一天，歡迎參加 IonQ 2023 年第三季財報電話會議。 （操作員說明）

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

我現在想把會議交給喬丹·夏皮羅。請繼續

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.

大家下午好，歡迎參加 IonQ 2023 年第三季財報電話會議。我叫 Jordan Shapiro，是 IonQ 財務規劃與分析副總裁兼投資人關係主管。我很高興邀請 IonQ 總裁兼執行長 Peter Chapman 參加今天的電話會議。湯瑪斯‧克萊默 (Thomas Kramer)，我們的財務長；以及我們的工程副總裁 Dean Kassmann。

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.

到目前為止，每個人都應該可以訪問該公司今天下午發布的 2023 年第三季度收益新聞稿，該新聞稿可在我們網站 Investors.ionq.com 的投資者關係部分獲取。請注意，在今天的電話會議上，管理層將參考調整後的 EBITDA，這是非 GAAP 財務指標。雖然公司認為這一非公認會計原則財務指標為投資者提供了有用的信息，但這些信息的呈現並不旨在被孤立地考慮或作為根據公認會計原則呈現的財務信息的替代品。您可以閱讀我們的新聞稿，以了解調整後 EBITDA 與其最接近的可比較 GAAP 指標的對帳情況。

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.

在電話會議中，我們將討論我們的業務前景並做出前瞻性陳述。這些評論是基於我們今天的預測和期望。由於許多風險和不確定性，包括我們打算明天向 SEC 提交的 10-Q 報告中提到的風險和不確定性，實際事件或結果可能會存在重大差異。除非法律要求，否則我們沒有義務修改任何聲明以反映本次電話會議後所發生的變更。

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

現在，我將把它交給 IonQ 總裁兼執行長 Peter Chapman。彼得？

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.

謝謝喬丹。感謝大家今天加入我們。今天，我們從西雅圖的新辦公室打來電話，這是我們大規模製造量子計算系統的地點。我們對本季以及今年迄今所取得的財務和技術進步感到非常高興。我們看到量子運算早期採用者的興趣明顯增強，2023 年第三季的營收為 610 萬美元，比去年同期進一步成長 122%。

Moreover, we added $26.3 million in bookings during the third quarter. This puts us above the high-end of our previously announced annual bookings range for the year, with a full quarter left to go. Over the course of this year, we have substantially built the size and visibility of our sales pipeline. Though we expect it to continue to be lumpy, today we are pleased to announce that, by the end of 2023, we are on a path to exceeding our goal of a cumulative $100 million in bookings since the start of 2021. In 2022, we told you that, there was a possibility IonQ could sell a full quantum system by the end of 2023. We have now sold four.

此外，第三季我們的預訂量增加了 2,630 萬美元。這使我們超出了先前宣布的年度預訂範圍的高端，距離預訂還有整整一個季​​度的時間。今年以來，我們大幅擴大了銷售管道的規模和知名度。儘管我們預計它會繼續不穩定，但今天我們很高興地宣布，到 2023 年底，我們預計將超越自 2021 年初以來累積預訂量達到 1 億美元的目標。2022 年，我們告訴你，IonQ 有可能在2023年底前就出售完整的量子系統。我們現在已經賣了四個。

IonQ's commercial and technical momentum continues to accelerate ahead of our original expectations. We believe our path to commercial advantage with #AQ 64 is clear without requiring full error correction. Customers are expressing strong interest in our #AQ 64 Tempo systems, with our #AQ 35 Forte Enterprise systems as steppingstones to develop quantum algorithms and ecosystems. Moreover, we're seeing growing interest in quantum networking, bolstered by our recent sale to the United States Air Force Research. The main conclusions you should draw from today's call are that: One, our pipeline is bigger and better than ever. And two, that our technical momentum, while always arduous continues to be ahead of schedule.

IonQ 的商業和技術勢頭繼續加速，超出了我們最初的預期。我們相信，#AQ 64 的商業優勢之路是明確的，無需完全糾錯。客戶對我們的 #AQ 64 Tempo 系統表達了濃厚的興趣，並以我們的 #AQ 35 Forte Enterprise 系統作為開發量子演算法和生態系統的墊腳石。此外，我們看到人們對量子網路的興趣日益濃厚，這得益於我們最近向美國空軍研究中心的銷售。從今天的電話會議中您應該得出的主要結論是：第一，我們的管道比以往任何時候都更大、更好。第二，我們的技術動力雖然始終艱鉅，但仍領先於計畫。

Now let's dive into the details. IonQ is focused on ushering in the enterprise era of quantum, and our financial performance is beginning to reflect that reality. Both public and private institutions are quickly coming to the conclusion that early adopters tend to benefit the most from quantum technology and are eager to prepare themselves for the quantum era. Those of you who turned into our presentation at Quantum World Congress in September, know that we made two major announcements that demonstrate IonQ's continued market leadership.

現在讓我們深入了解細節。 IonQ 致力於開創量子企業時代，我們的財務表現已開始反映這一現實。公共和私人機構很快就得出結論，早期採用者往往從量子技術中受益最多，並渴望為量子時代做好準備。那些看過我們九月在量子世界大會上發表演講的人都知道，我們發布了兩項重大公告，證明了 IonQ 持續的市場領導地位。

The first announcement is that, we have agreed to sell two systems to the United States Air Force Research Lab, or AFRL, in a significant deal for IonQ and the quantum computing industry as a whole. This $25.5 million deal includes two quantum network node systems, which will be used for research and application development. Notably, these systems will use our cutting-edge barium cubit technology.

第一個公告是，我們已同意向美國空軍研究實驗室 (AFRL) 出售兩個系統，這對 IonQ 和整個量子計算行業來說都是一筆重大交易。這筆 2,550 萬美元的交易包括兩個量子網路節點系統，將用於研究和應用開發。值得注意的是，這些系統將使用我們尖端的鋇肘技術。

The second major announcement from Quantum World Congress was the reveal of two new IonQ system generation. IonQ Forte Enterprise will be a rack-mounted production grade #AQ 35 system. Forte Enterprise will deliver on our goals of reducing system footprint, while providing modularity, all in a rack-mounted form factor that will integrate seamlessly into existing data centers. It will also be the first IonQ system generation manufactured at our new Seattle facility.

量子世界大會的第二個重大公告是推出了兩代新一代 IonQ 系統。 IonQ Forte Enterprise 將是機架式生產級 #AQ 35 系統。 Forte Enterprise 將實現我們減少系統佔用空間的目標，同時提供模組化，所有這些都採用機架安裝的形式，可無縫整合到現有資料中心。這也將是我們西雅圖新廠製造的第一代 IonQ 系統。

Following Forte Enterprise, IonQ Tempo will be our rack-mounted production grade #AQ 64 system. We expect this upcoming generation to allow our customers to begin solving certain problems with quantum computing that even today's best classical supercomputers cannot, or what we refer to is commercial advantage.

繼 Forte Enterprise 之後，IonQ Tempo 將成為我們的機架式生產級 #AQ 64 系統。我們期望下一代能夠讓我們的客戶開始使用量子運算來解決某些即使是當今最好的經典超級電腦也無法解決的問題，或者我們所說的商業優勢。

We have already announced plans to deliver one of each of these systems, Forte Enterprise and Tempo, to serve as QuantumBasel in Switzerland. We also recently announced that IonQ has officially reached #AQ 29 on a barium-based system. This is powerful validation of our work on barium systems, with their performance now catching up to that of our ytterbium based IonQ Forte. We believe the future of trapped ion quantum computers, will be enhanced by barium. And this milestone shows we are one step closer to #AQ 64.

我們已經宣布計劃交付其中一套系統（Forte Enterprise 和 Tempo），作為瑞士的 QuantumBasel。我們最近也宣布，IonQ 在基於鋇的系統上已正式達到 #AQ 29。這是對我們在鋇系統方面的工作的有力驗證，其性能現已趕上我們基於鐿的 IonQ Forte。我們相信，俘獲離子量子電腦的未來將透過鋇來增強。這一里程碑表明我們離 #AQ 64 又近了一步。

In another technical road map announcement, I would also like to highlight an important development that we had discussed at our Analyst Day in September. IonQ now believes that we will be able to reach #AQ 64 and commercial advantage using error mitigation, rather than needing to implement full error correction. Error mitigation requires fewer cubits than error correction and makes us even more confident in our ability to reach #AQ 64 in the near-term.

在另一項技術路線圖公告中，我還想強調我們在 9 月的分析師日討論的一項重要進展。 IonQ 現在相信，我們將能夠使用錯誤緩解來達到 #AQ 64 和商業優勢，而不需要實施全面的錯誤修正。減少錯誤比糾錯需要更少的肘節，這讓我們對在短期內達到 #AQ 64 的能力更有信心。

Alongside our exciting progress on hardware, IonQ's commercial momentum is continuing to pick up steam. In September, we also hosted the official opening of the QLab alongside our partners at the University of Maryland. Speakers at the event included US Senator, Ben Cardin; Maryland Senate President, Bill Ferguson; and Maryland Lieutenant Governor, Aruna Miller. The QLab is just one example on how IonQ customers are creating ecosystems around quantum computing.

除了我們在硬體方面取得的令人興奮的進展外，IonQ 的商業勢頭也在繼續增強。 9 月，我們還與馬裡蘭大學的合作夥伴共同主持了 QLab 的正式開幕儀式。出席活動的演講者包括美國參議員本‧卡丁 (Ben Cardin)；馬裡蘭州參議院議長比爾‧弗格森；和馬裡蘭州副州長阿魯納·米勒。 QLab 只是 IonQ 客戶如何圍繞量子計算創建生態系統的範例之一。

In November, we were awarded an extension of our contract with Zapata AI and the US Defense Advanced Research Projects Agency, or DARPA, to lay the groundwork for benchmarking quantum compute. On the corporate front, we announced last month that Chris Monroe, IonQ's cofounder in Chief Sciences, has returned his focus to quantum academic research and policy pursuits. We will continue to benefit from his future work via the intellectual property agreement that IonQ maintains with Duke University. That agreement grants us exclusive access to trapped eye and quantum computing patents generated by our cofounder's department. We are grateful for Chris's many contributions to IonQ, and early foundational scientific breakthroughs.

11 月，我們獲得了與 Zapata AI 和美國國防高級研究計劃局 (DARPA) 的合約延期，為量子計算基準測試奠定了基礎。在公司方面，我們上個月宣布，IonQ 首席科學聯合創始人 Chris Monroe 已將重點重新轉向量子學術研究和政策追求。我們將透過 IonQ 與杜克大學簽訂的智慧財產權協議繼續從他未來的工作中受益。該協議使我們能夠獨家獲得由我們聯合創始人部門創建的捕獲眼和量子計算專利。我們感謝 Chris 對 IonQ 的眾多貢獻以及早期的基礎科學突破。

As we enter IonQ's next stage of growth, and many scientific breakthroughs behind us, we are now entirely focused on executing against our roadmap, which requires more engineering and product development and science. In some respects, this represents a generational shift, but one that is natural for rapidly evolving companies. Our team is experienced from growing companies. We are building on that strength while continuing to add new capabilities for today, tomorrow, and the quantum future ahead.

隨著我們進入 IonQ 的下一發展階段，以及許多科學突破，我們現在完全專注於執行我們的路線圖，這需要更多的工程、產品開發和科學。在某些方面，這代表了一代人的轉變，但對於快速發展的公司來說這是很自然的。我們的團隊來自成長型公司，經驗豐富。我們正在鞏固這一優勢，同時繼續為今天、明天和未來的量子未來增加新的功能。

In our Analyst Day presentation last month, we introduced you to the broader lineup of our IonQ executive team. This team includes Dr. Dean Kassmann, Dr. Dave Mehuys, and Dr. Pat Tang, our VPs of Engineering, Product Engineering, and R&D, respectively. These industry veterans from Amazon, Blue Origin, and Apple represent the next generation of IonQ technical leadership. With their vision and experience on our side, we are fully confident in our ability to deliver on our roadmap

在上個月的分析師日演講中，我們向您介紹了更廣泛的 IonQ 執行團隊陣容。團隊包括 Dean Kassmann 博士、Dave Mehuys 博士和 Pat Tang 博士，他們分別是我們的工程副總裁、產品工程副總裁和研發副總裁。這些來自 Amazon、Blue Origin 和 Apple 的業界資深人士代表了下一代 IonQ 技術領導。憑藉他們的願景和經驗，我們對實現路線圖的能力充滿信心

We believe IonQ Forte Enterprise and Tempo in their respective #AQ 35 and #AQ 64 milestones are right around the corner. Organizations are starting to recognize this potential and are seeking out contracts with IonQ as reflected by our strong bookings thus far in 2023. Our momentum continues to grow. Just today, we are honored to have been selected as a winner of Deloitte's Technology Fast 500 award that recognizes the most innovative, fastest growing companies in North America.

我們相信 IonQ Forte Enterprise 和 Tempo 各自的 #AQ 35 和 #AQ 64 里程碑即將到來。各組織開始認識到這一潛力，並正在尋求與 IonQ 簽訂合同，我們 2023 年迄今為止的強勁預訂量就反映了這一點。我們的勢頭持續增長。就在今天，我們很榮幸榮獲德勤高科技高成長 500 強獎，該獎項旨在表彰北美最具創新性、發展最快的公司。

In 2022, we told you there was a possibility IonQ could sell a full quantum system by the end of 2023, we have now sold four. Today, I can tell you our pipeline of customers seriously interested in purchasing IonQ systems is robust and gaining momentum each quarter. So, in addition to this being yet another milestone quarter for IonQ, we are even more excited about the bright future ahead for our business.

2022 年，我們告訴您，IonQ 有可能在 2023 年底之前出售完整的量子系統，現在我們已經出售了四個。今天，我可以告訴您，我們對購買 IonQ 系統非常感興趣的客戶管道非常強勁，每個季度都在成長。因此，除了這是 IonQ 的另一個里程碑季度之外，我們對我們業務的光明未來感到更加興奮。

With that, I would now like to turn the call over to Thomas for a more detailed review of the financials. Thomas.

現在，我想將電話轉給托馬斯，讓他對財務狀況進行更詳細的審查。托馬斯.

Thank you, Peter. Before we dive into our financial results, we are pleased to announce the new additions to our executive team. Margaret Arakawa, as Chief Marketing Officer; and Kurt Kennett, as Vice President of Software. Margaret brings to IonQ over 25 years of hardware, software, and cloud experience. At Microsoft, she was responsible for the multi-billion-dollar US windows and surface businesses. More recently, she served as the Chief Marketing Officer at both Outreach and Fastly, where she led all aspects of marketing. Kurt joins us with over 30 years of software firmware and integration experience at Microsoft, Nintendo, and North Cell Networks. We are excited to welcome Margaret and Kurt to technology industry veterans to the IonQ team.

謝謝你，彼得。在我們深入了解我們的財務表現之前，我們很高興地宣布我們的執行團隊的新成員。瑪格麗特‧荒川 (Margaret Arakawa)，擔任首席行銷長； Kurt Kennett，軟體副總裁。 Margaret 為 IonQ 帶來了超過 25 年的硬體、軟體和雲端經驗。在微軟，她負責價值數十億美元的美國Windows和Surface業務。最近，她擔任 Outreach 和 Fastly 的首席行銷官，負責領導行銷的各個方面。 Kurt 加入我們時在 Microsoft、Nintendo 和 North Cell Networks 擁有 30 多年的軟體韌體和整合經驗。我們很高興地歡迎 Margaret 和 Kurt 作為技術行業資深人士加入 IonQ 團隊。

Margaret and Kurt will contribute their deep expertise to IonQ's already robust bench of talent, which includes 65 PhD graduates, 84 masters' graduates, and counting. Of these quantum pioneers, several earned their degrees in Chris Monroe's lab, Jungsang Kim's lab and or both. This ensures that IonQ's scientific heritage is deeply ingrained in our DNA as we charge towards our next stage of growth.

Margaret 和 Kurt 將為 IonQ 已經強大的人才庫貢獻他們深厚的專業知識，其中包括 65 名博士畢業生、84 名碩士畢業生，而且數量還在不斷增加。在這些量子先驅中，有幾位在 Chris Monroe 的實驗室、Jungsang Kim 的實驗室或兩者都獲得了學位。這確保了 IonQ 的科學傳統在我們邁向下一階段的發展時深深植根於我們的 DNA 中。

Today, IonQ is proudly composed of some of the world's top quantum talent and industry leaders. Our patent portfolio includes 74 US issued patents plus another 163 US pending patent applications, as well as 19 international issued patents and another 111 international pending patent applications. Note that these patent portfolio figures are as of October 31, 2023.

如今，IonQ 自豪地由一些世界頂尖的量子人才和行業領導者組成。我們的專利組合包括 74 項美國已授權專利和另外 163 項美國待審專利申請，以及 19 項國際已授權專利和另外 111 項國際待審專利申請。請注意，這些專利組合數據截至 2023 年 10 月 31 日。

As Peter mentioned earlier, our team is in a strong position to execute on a roadmap, deliver on our #AQ targets, and fulfil our customer needs. We have full confidence in our team, and I want to personally thank everyone at IonQ for your hard work and dedication that has led to a record year for the company so far.

正如 Peter 之前提到的，我們的團隊在執行路線圖、實現我們的 #AQ 目標並滿足客戶需求方面處於有利地位。我們對我們的團隊充滿信心，我想親自感謝 IonQ 的每個人的辛勤工作和奉獻精神，正是你們的辛勤工作和奉獻才使公司今年取得了創紀錄的成績。

Now let's walk through this quarter's financial results in more detail. As Peter mentioned, we had an excellent quarter recognizing $6.1 million in revenue, which is above the high end of the outlook we previously provided. We successfully delivered on percentage of completion projects earlier than expected, which resulted in the acceleration of some revenue into the third quarter.

現在讓我們更詳細地了解本季的財務表現。正如 Peter 所提到的，我們有一個出色的季度，收入為 610 萬美元，高於我們之前提供的預期的上限。我們成功地提前完成了專案的百分比交付，這導致第三季的一些收入加速成長。

We exited the quarter with $26.3 million in bookings. This put us at $58.4 million so far this year, above the high end of our previous guidance range of between $49 million and $56 million for the full year, with the fourth quarter still to go.

本季結束時，我們的預訂量為 2,630 萬美元。這使得我們今年迄今的收入為 5840 萬美元，高於我們之前全年指導範圍 4900 萬至 5600 萬美元的上限，第四季度尚未到來。

Today, we are increasing the full year 2023 bookings projection range to be between $60 million and $63 million. Given that we are still early on in IonQ's commercialization phase, I want to reiterate my comment from prior earnings calls that we expect bookings to continue to be lumpy for quite some time.

今天，我們將 2023 年全年預訂預測範圍提高到 6,000 萬美元至 6,300 萬美元。鑑於我們仍處於 IonQ 商業化階段的早期階段，我想重申我在先前的財報電話會議上的評論，即我們預計預訂量將在相當長的一段時間內繼續不穩定。

Moving down the income statement, for Q3 2023, our total operating costs and expenses for the third quarter were $48.3 million, up 75% from $27.7 million in the prior year period, but still within our plan for the year. To break this down further, our research and development costs for the third quarter were $24.6 million, up 85% from $13.3 million in the prior year period. Recall that we are investing heavily in R&D and given projected demand, are also investing in our manufacturing capabilities to build more systems than previously anticipated this year.

向下看損益表，2023 年第三季度，我們第三季的總營運成本和費用為 4,830 萬美元，比上年同期的 2,770 萬美元增長 75%，但仍在我們的年度計劃之內。進一步細分，我們第三季的研發成本為 2,460 萬美元，比去年同期的 1,330 萬美元成長 85%。回想一下，我們在研發方面投入了大量資金，考慮到預計的需求，我們也在投資我們的製造能力，以建造比今年之前預期更多的系統。

Our sales and marketing costs in the third quarter were $5.0 million up 156% from $2.0 million in the prior year period. This increase was due to us growing our go-to-market function and additional sales and support personnel. As we continue our investment into our commercial efforts. Our general and administrative costs in the third quarter were $13.9 million, up 37% from the $10.1 million in the prior year period.

第三季我們的銷售和行銷成本為 500 萬美元，比去年同期的 200 萬美元成長 156%。這一增長是由於我們擴大了行銷職能以及增加了銷售和支援人員。隨著我們繼續投資於我們的商業努力。第三季的一般和管理成本為 1,390 萬美元，比去年同期的 1,010 萬美元成長 37%。

All of this resulted in a net loss of $44.8 million in the third quarter, compared to $24.0 million in the prior year. It's important to note that these results include a non-cash loss of $7.6 million for the third quarter related to the fair value of our warrant liabilities, which impacts our GAAP bottom-line results. You saw an adjusted EBITDA loss for the third quarter of $22.4 million compared to a $13.4 million loss in the prior period. Note that we projected an adjusted EBITDA loss for the year of $80.5 million. So, with this quarter's loss, we continue to expect to remain within our plan for the year

所有這些導致第三季淨虧損 4,480 萬美元，而去年同期淨虧損為 2,400 萬美元。值得注意的是，這些結果包括第三季與我們的認股權證負債公允價值相關的 760 萬美元非現金損失，這影響了我們的 GAAP 底線結果。您看到第三季調整後 EBITDA 損失為 2,240 萬美元，而上一季的損失為 1,340 萬美元。請注意，我們預計今年調整後的 EBITDA 虧損為 8,050 萬美元。因此，儘管本季出現虧損，但我們仍預計將保持在今年的計劃範圍內

Turning now to our balance sheet, cash, cash equivalent and investments as of September 30, 2023, were $485.1 million. Tomorrow, you may notice those files a universal shelf registration statement with the SEC. While we continue to believe that our cash on hand is more than sufficient to get the company to cashflow positive and we have no immediate plans to raise additional capital, we also believe that opportunities for strategic M&A may arise in the near to medium term. We are comfortable with our cash balance, but want to maintain the optionality to raise additional capital to fund M&A and strategic growth.

現在來看看我們的資產負債表，截至 2023 年 9 月 30 日，現金、現金等價物和投資為 4.851 億美元。明天，您可能會注意到這些文件向 SEC 提交了一份通用貨架註冊聲明。雖然我們仍然相信我們手頭上的現金足以讓公司實現正現金流，而且我們沒有立即計劃籌集額外資金，但我們也相信在中短期內可能會出現戰略併購的機會。我們對現金餘額感到滿意，但希望保留籌集額外資金為併購和策略成長提供資金的選擇權。

As a reminder, this announcement is not an offer to sell or a solicitation of an offer to buy securities, nor may there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the effectiveness of the registration statement with the SEC and registration or qualification under the securities law of any state or jurisdiction. Any offer, solicitation or sale of any of these securities registered under the registration statement will be made only through the prospectus and the prospectus supplement once the SEC declares the registration statement to be effective.

謹此提醒，本公告並非出售證券的要約或購買證券的要約邀請，也不得在任何州或司法管轄區出售任何證券，而在該州或司法管轄區，此類要約、邀請或出售在本公告發布之前是非法的。向 SEC 提交的註冊聲明的有效性以及根據任何州或司法管轄區的證券法進行的註冊或資格。一旦 SEC 宣布註冊聲明生效，對註冊聲明中註冊的任何此類證券的要約、招攬或銷售將只能透過招股說明書和招股說明書補充進行。

Now turning to our fourth quarter and full year 2023 outlook, we are pleased to increase our full year 2023 revenue outlook to $21.2 million to $22.0 million for the full year 2023. This represents our expectation that we may be able to accelerate delivery against milestones on some of our customer contracts in the fourth quarter. Additionally, we are introducing fourth quarter revenue guidance of between $5.3 million and $6.1 million.

現在轉向我們對2023 年第四季和全年的展望，我們很高興將2023 年全年的營收預期提高到2,120 萬美元至2,200 萬美元。這代表了我們的期望，即我們可能能夠加快實現里程碑的交付我們的一些客戶在第四季度簽訂了合約。此外，我們還推出了 530 萬美元至 610 萬美元之間的第四季度收入指引。

Lastly, I would also like to highlight that the announced AFRL deal as Peter mentioned is expected to recognize revenue over the following 18 months, as the project works its way towards delivery. And as I already mentioned, we are also increasing our bookings guidance to between $60 million and $63 million for the full year 2023, increasing our target to reflect our successful system sales to AFRL in the third quarter.

最後，我還想強調，隨著專案逐步交付，Peter 提到的已宣布的 AFRL 交易預計將在接下來的 18 個月內確認收入。正如我已經提到的，我們還將 2023 年全年的預訂指引提高到 6,000 萬至 6,300 萬美元，提高了我們的目標，以反映我們在第三季向 AFRL 成功銷售系統的情況。

With that, I will turn the call back over to Peter.

這樣，我會將電話轉回給彼得。

Clearly, the IonQ team has been hard at work and executing diligently against our technical and financial road map. This is shaping up to be another landmark year for IonQ and quantum computing as a whole. And I could not be more proud of our team that is making it all happen. What you should conclude from today's call is that: One, our commercial traction has reached a $100 million in bookings since the start of 2021. Two, our pipeline is bigger and better than ever. And three, our technical momentum continues to be ahead of schedule.

顯然，IonQ 團隊一直在努力工作，並根據我們的技術和財務路線圖勤奮執行。對於 IonQ 和整個量子計算來說，今年將是另一個具有里程碑意義的一年。我為我們的團隊讓這一切成為現實感到無比自豪。從今天的電話會議中您應該得出的結論是：第一，自 2021 年初以來，我們的商業吸引力已達到 1 億美元。第二，我們的管道比以往任何時候都更大、更好。第三，我們的技術動力繼續領先於計劃。

With that, I would like to turn the call back over to our operator for the Q&A session. Operator?

這樣，我想將電話轉回給我們的接線生進行問答環節。操作員？

Thank you. (Operator Instructions) David Williams, Benchmark.

謝謝。 （操作員說明）David Williams，基準。

Hey, good afternoon and congrats on the really solid progress you're doing.

嘿，下午好，祝賀你取得了非常堅實的進展。

Thank you.

謝謝。

Thank you.

謝謝。

I guess, first, Tom, you had talked about potential M&A activity in terms of your filing there. Could you maybe talk a little bit about what you think would be compelling or attractive in this market? Where are you looking to fill holes and what are the technologies out there that could be complimentary to existing business.

我想，首先，湯姆，您在提交的文件中談到了潛在的併購活動。您能否談談您認為這個市場上什麼是引人注目或有吸引力的？您想在哪裡填補漏洞？有哪些技術可以補充現有業務。

Excellent question and thank you for bringing that up. First, I want to emphasize that, this is a shelf filing; and it is just something that we want to have in place for if and when it becomes appropriate. Secondly, we are constantly scanning the market and anything that will allow us to advance our technical road map or advance the delivery to our customers of our services and systems is something that we will find interesting. And that's a pretty wide gambit, but it is also important to us that we get a deal that will be good -- you are not just out there to acquire things. But we are looking at everything. So, if you have suggestions, send them our way.

很好的問題，感謝您提出這個問題。首先，我想強調的是，這是一份上架文件；這只是我們希望在適當的時候採取的措施。其次，我們不斷地審視市場，任何能讓我們推進技術路線圖或推進向客戶交付我們的服務和系統的事情都是我們感興趣的。這是一個相當廣泛的策略，但對我們來說也很重要的是，我們能達成一筆好的交易——你不僅僅是為了收購東西。但我們正在關註一切。因此，如果您有建議，請將其發送給我們。

Certainly, we'll do that. We'll do, and maybe Peter, just kind of thinking about the day-to-Day impact of Chris leaving. What are the operational aspects that may be affected and any color you can provide that may give us comfort in the transition and continuity of the roadmap? I think that'd be very helpful. Thank you.

當然，我們會這麼做。我們會做的，也許彼得也會考慮克里斯離開的日常影響。哪些營運方面可能會受到影響？您可以提供任何顏色，讓我們對路線圖的過渡和連續性感到放心？我認為這會很有幫助。謝謝。

Obviously, Chris is one of the two cofounders and seminal in the quantum computing business starting way back in the mid-nineties. However, Chris would be the first one to tell you that the physics behind what it is that IonQ is doing has now been solved. It's largely an engineering problem. And we have been saying this for the last couple of years, that the company is moving from its academic origins now to an engineering and even more so now to a product driven company. So, while Chris is leaving -- he's going back to his academic roots, he's teaching classes at Duke -- we'll continue to work on quantum computing and we will partner with him and Duke University as we have always.

顯然，克里斯是九十年代中期量子計算業務的兩位聯合創始人之一和開創性的人物。然而，Chris 會是第一個告訴您 IonQ 所做的事情背後的物理原理現在已解決的人。這很大程度是一個工程問題。過去幾年我們一直在說，該公司正在從學術起源轉向工程公司，現在更進一步轉向產品驅動型公司。因此，當克里斯離開時——他將回到自己的學術根源，在杜克大學授課——我們將繼續致力於量子計算，我們將一如既往地與他和杜克大學合作。

As a day-to-day operational impact, it will not have an impact kind of going forward. Chris is an advisor, has been an advisor to the company, but has no direct reports that report to him and hasn't since day one. So, it's largely will have no impact to the company

作為日常營運影響，它不會對未來產生影響。克里斯是一名顧問，一直是公司的顧問，但沒有直接向他報告的下屬，從第一天起就沒有。所以，基本上不會對公司造成影響

Okay, fantastic. Thanks for that color. And then just one more if I can quickly, can you talk a little bit about the software strategy and how you see that developing? I know at the Analyst Day you discussed the revenue really predominantly coming from hardware sales for now and maybe software later, but can you give us a sense of how you see this playing out into the model, and it feels like maybe a SaaS model developing potentially over time? Is that a fair way to think about it?

好吧，太棒了。謝謝那個顏色。然後，如果我可以很快的話，您能談談軟體策略以及您如何看待這一發展嗎？我知道在分析師日您討論了目前的收入主要來自硬體銷售，以後可能還來自軟體，但是您能否讓我們了解一下您如何看待這種情況在模型中的發揮，感覺可能是一個正在開發的SaaS 模型可能隨著時間的推移？這是一個公平的思考方式嗎？

Well we have software investments kind of all ups and down the stack. So, for instance, we have a team which is working on a next generation operating system for our quantum computers. And so, which is to be able to do support the next generation hardware and quantum networking and such. We have another team which is working on, next generation compiler. And so, this is one of the things that is also leading us to #AQ 64 is to be able to optimize the circuits and to be able to make sure the compiler generates gates, which are gets the best performance out of your particular application. If I go higher in the stack, then you see we have a applications team today, and so they're working on applications with customers.

嗯，我們的軟體投資是全方位的。例如，我們有一個團隊正在為我們的量子電腦開發下一代作業系統。因此，它能夠支援下一代硬體和量子網路等。我們還有另一個團隊正在開發下一代編譯器。因此，這也是導致我們採用 #AQ 64 的原因之一，即能夠最佳化電路並能夠確保編譯器產生閘，從而從您的特定應用程式中獲得最佳效能。如果我在堆疊中走得更高，那麼您會看到我們今天有一個應用程式團隊，因此他們正在與客戶一起開發應用程式。

What we're now focusing on, which is now a little bit new, in the past we've kind of worked with customers on POCs and kind of early quantum, but we're now focused on finding the one or two applications that we can get to commercial advantage where we can start to put these applications in productions so that they're ready to go when we have a Tempo system.

我們現在關注的焦點有點新，過去我們曾與客戶在 POC 和早期量子方面進行過合作，但我們現在專注於尋找我們想要的一兩個應用程式。可以獲得商業優勢，我們可以開始將這些應用程式投入生產，以便當我們擁有Tempo 系統時它們就可以投入使用。

So that's kind of our latest kind of change in focus on that front. But we have a fairly large software group inside the company. It's been said before that a large part of what IonQ is doing, obviously there's a hardware component, but most of the things that we do is controlled by software. So, it's very much a software investment in terms of being able to get performance out of our systems.

這就是我們在這方面關注的最新變化。但我們公司內部有一個相當大的軟體團隊。之前說過，IonQ 所做的很大一部分工作，顯然是有硬體組件的，但我們所做的大部分事情都是由軟體控制的。因此，就能夠從我們的系統中獲得效能而言，這在很大程度上是一項軟體投資。

Okay. Operator, if we go to the next caller.

好的。接線員，如果我們轉到下一個呼叫者。

Quinn Bolton, Needham & Co.

奎因·博爾頓，李約瑟公司

Peter and Thomas, I'll offer my congratulations as well on the continued momentum. Peter, I just wanted to challenge you a little bit on what you said on IonQ sort of transitioning more to an engineering, and even a product company. I think you guys have established pretty good track record on the technical milestones to date for the #AQ roadmap. But I guess what I'm wondering is it still feels like there's a fair amount of work to be done on quantum networking and quantum error correction. And wondering, if you could provide your thoughts on some of those challenges. Maybe they're not physics, but still feels like there's some work to be done there. And was wondering if you might be able to comment on those two areas.

彼得和湯瑪斯，我也將對持續的勢頭表示祝賀。 Peter，我只是想就你在 IonQ 上所說的更多向工程公司甚至產品公司轉型的問題向你提出一點挑戰。我認為你們迄今為止在 #AQ 路線圖的技術里程碑上已經建立了相當好的記錄。但我想我想知道的是，在量子網路和量子糾錯方面仍然有相當多的工作要做。想知道您是否可以提供您對其中一些挑戰的想法。也許它們不是物理學，但仍然感覺還有一些工作要做。想知道您是否可以對這兩個領域發表評論。

Certainly, we have Dean here, and I'll -- I can pass it to. There is not a shortage of something to do, and in part there's not a shortage of kind of areas to go after for the company. So, when we talk about my comments were mostly focused around kind of quantum computation and getting to #AQ 64, but you're a 100% right. There's a wide-open field in quantum networking as an example. And so, that will require more science than maybe the computation side.

當然，我們有迪恩在這裡，我可以將其傳遞給。不乏有事可做，某種程度上，也不缺乏公司需要追求的領域。所以，當我們談論我的評論時，我的評論主要集中在量子計算和#AQ 64上，但你是100%正確的。例如，量子網路是一個廣闊的領域。因此，這需要比計算方面更多的科學。

But I'll give it to Dean to comment.

但我會把它交給 Dean 發表評論。

Thank you, Peter. So, you are correct. We have a big engineering lift in front of us. If you think about photonic interconnected systems, right? Chris's lab was one of the first to develop and kind of demonstrate the interconnects working using different colors of light, right? And so, we're currently working through those pieces. We have that research actually occurring here in the Seattle labs. And so, as we move forward, the engineering focus is going to be on not the physics aspects of that as much as will be towards developing micro-optics, being able to do all of the other pieces of the software stack to be able to support all of those. Those are going to be engineering, optical design, mechanical engineering problems that we have in front of us. And so that's really where our focus will be over the coming year

謝謝你，彼得。所以，你是對的。我們面前有一個巨大的工程升降機。如果您考慮光子互連繫統，對吧？克里斯的實驗室是最早開發並展示使用不同顏色的光進行互連的實驗室之一，對嗎？因此，我們目前正在研究這些內容。我們的研究實際上是在西雅圖實驗室進行的。因此，隨著我們前進，工程重點將不再是物理方面，而是開發微光學，能夠完成軟體堆疊的所有其他部分，以便能夠支援所有這些。這些將是我們面前的工程、光學設計、機械工程問題。所以這才是我們來年的重點

I appreciate that, thank you. Second maybe for Peter and Thomas, I wanted to see if you might be able to sort of compare and contrast the AFRL deal with the QuantumBasel deal. The revenue seems to be a similar, I think, but not sure if you'll comment whether these are 100% system sales to AFRL -- it sounds like they may be. And then you mentioned recognizing revenue over the next 18 months as you moved towards system delivery. I thought with QuantumBasel it was more you would rev rec once those systems were put in place, which would imply perhaps a little bit later rev rec policy for QuantumBasel and maybe a little bit earlier for the AFRL lab. And so maybe, maybe just walk us through the rev rec accounting on the AFRL transaction.

我很感激，謝謝。其次，對於 Peter 和 Thomas，我想看看你們是否能夠將 AFRL 交易與 QuantumBasel 交易進行比較和對比。我認為收入似乎是相似的，但不確定您是否會評論這些是否是 100% 向 AFRL 的系統銷售——聽起來可能是。然後您提到隨著系統交付的進展，在接下來的 18 個月內確認收入。我認為，對於 QuantumBasel，一旦這些系統到位，您就可以進行更多的rev rec，這意味著 QuantumBasel 的 rev rec 政策可能會晚一點，而 AFRL 實驗室的 rerec 政策可能會提早一些。所以也許，也許只是引導我們了解 AFRL 交易的收益記錄會計。

Yes, and I think, this we'll tag team this one. So, the deals are different and that one of them is for quantum networking, and the other one is for quantum computation and application work. And they also have two different delivery windows. And I will let, Thomas just talks about how that impacts rev rec.

是的，我想，我們將給這個團隊貼上標籤。因此，這些交易是不同的，其中一項是針對量子網路的，另一項是針對量子計算和應用工作的。他們還有兩個不同的交貨窗口。我會讓托馬斯談論這如何影響轉速記錄。

Yes, absolutely. So, if you think about what we said about the QuantumBasel deal, these are two systems that will be delivered on-prem in Switzerland. And the customer will be running their jobs there for a period of roughly five years. We will start recognizing revenue on the system part of that itself once first system is up and running until the end of the contract. We will swap out the machine in between. But that is essentially a system deal.

是的，一點沒錯。因此，如果您考慮我們關於 QuantumBasel 交易的內容，您會發現這兩個系統將在瑞士本地交付。客戶將在那裡開展工作大約五年。一旦第一個系統啟動並運行，我們將開始確認系統本身的收入，直到合約結束。我們將在中間更換機器。但這本質上是一個系統交易。

We are retaining part of the capacity of those systems, so that we will use it pretty much as a beachhead into Europe. And that is a super exciting deal. And it shows our first series entry into Europe. And also, it shows people actually buying up two future generations of our systems in one go -- so super exciting. We are also very excited about the AFRL deal, but it's a very different deal. It is for us deliver much smaller systems, which will be network nodes that AFRL can conduct research on network, sorry, quantum networking on. Now once we deliver those nodes to AFRL up in Rome, New York, the entire revenue recognition will be finished. That will take us 18 months to do.

我們保留了這些系統的部分容量，這樣我們就可以將其用作進入歐洲的灘頭陣地。這是一項超級令人興奮的交易。它展示了我們進入歐洲的第一個系列。而且，它還表明人們實際上一次性購買了我們的兩代系統——非常令人興奮。我們也對 AFRL 交易感到非常興奮，但這是一項非常不同的交易。它是為我們提供更小的系統，這些系統將成為 AFRL 可以進行網路研究的網路節點，抱歉，是量子網路。現在，一旦我們將這些節點交付給位於紐約羅馬的 AFRL，整個收入確認就完成了。這將需要我們 18 個月的時間來完成。

And the reason why the revenue recognition is different here is that it is a different part of the GAAP rules for recognizing revenue and is based on percentage of complete as opposed to usage. And so, we complete more of the systems, we recognize more of that revenue, and we will finish recognizing all of it when they are up and running in AFRL's Rome facility, which we anticipate will take 18 months since contract signing.

這裡收入確認不同的原因是，它是確認收入的 GAAP 規則的不同部分，並且基於完成百分比而不是使用情況。因此，我們完成了更多的系統，我們確認了更多的收入，當它們在AFRL 的羅馬工廠啟動並運行時，我們將完成所有的確認，我們預計這將需要合約簽署後18 個月的時間。

Got it. Thank you for explaining the differences; I really appreciate it.

知道了。感謝您解釋這些差異；對此，我真的非常感激。

Thank you.

謝謝。

(Operator Instructions) Trevor Janoskie, Goldman Sachs.

（操作員指令）Trevor Janoskie，高盛。

All good. Yes, hi. This is Trevor on for Toshiya, and thanks for letting me hop on here. So really quick on your bookings. There was the $25.5 million from Air Force Research Lab, $28 million from Basel for a total of $53.5 million. Could you provide us with some information on the remaining $5 million in bookings? And when would you expect this X systems portion of bookings to accelerate?

都好。是的，嗨。我是Toshiya 的Trevor，感謝您讓我登上這裡。您的預訂速度非常快。其中空軍研究實驗室提供 2,550 萬美元，巴塞爾提供 2,800 萬美元，總計 5,350 萬美元。您能否向我們提供有關剩餘 500 萬美元預訂的一些資訊？您預計 X 系統部分的預訂何時會加速？

I'm sorry. Could you repeat the question? I apologize.

對不起。你能重複一下這個問題嗎？我道歉。

Yes. Can you hear me?

是的。你聽得到我嗎？

Yes.

是的。

Okay. So, on your bookings where you had $25.5 million with the Air Force Research Lab, $28 million from QuantumBasel for a total of $53.5 million but your total was $58.5 million. Can you provide us with some more information on the remaining, on that remaining $5 million in bookings? And when would you expect that X systems portion of bookings to accelerate?

好的。因此，在您的預訂中，您向空軍研究實驗室支付了 2550 萬美元，從 QuantumBasel 支付了 2800 萬美元，總計 5350 萬美元，但您的總計為 5850 萬美元。您能否向我們提供有關剩餘 500 萬美元預訂的更多資訊？您預計 X 系統部分的預訂何時會加速？

So, I mean, the difference is just that we have other contracts and other sales. We also have a small portion that we can upsell to the AFRL and then I was just a little bit confused, but that hasn't happened yet, and we will come back to you and tell you when that is. And I mean, it's not a monumental number, but it would be great. We can point you to the other deal announcements we met made in prior queues, and that should be enable you to just like, add them all up together.

所以，我的意思是，區別只是我們有其他合約和其他銷售。我們還有一小部分可以追加銷售給 AFRL，然後我有點困惑，但這還沒發生，我們會回來告訴您什麼時候會發生。我的意思是，這不是一個巨大的數字，但它會很棒。我們可以向您指出我們在先前的隊列中遇到的其他交易公告，這應該使您能夠喜歡，將它們全部加在一起。

Okay, that makes sense. And a more longer-term question, but in your high-volume manufacturing roadmap, would you be able to quantify how many systems you believe you would be able to build within a year, let's say 2025 or 2026?

好吧，這是有道理的。還有一個更長期的問題，但在您的大批量製造路線圖中，您是否能夠量化您認為自己能夠在一年內（假設 2025 年或 2026 年）構建多少個系統？

So, we have -- that is a great question. It's also a great problem to have. The reality is that we will be able to expand our facilities so that we can scale to any amount of demand. And we would love to be, have to worry about where we can find enough facility, but we can do that. Right now, we are planning to build a number of machines at our own facilities, but we are also planning to build some machines actually on-prem at the customer's facilities. The Switzerland machines, for instance, will be built in Switzerland.

所以，我們有——這是一個很好的問題。這也是一個很大的問題。現實情況是，我們將能夠擴展我們的設施，以便我們能夠滿足任何數量的需求。我們很樂意這樣做，但不得不擔心在哪裡可以找到足夠的設施，但我們可以做到這一點。目前，我們計劃在自己的設施中建造許多機器，但我們也計劃在客戶的設施中實際建造一些機器。例如，瑞士機器將在瑞士製造。

Understood, thank you. And just one more for -- sorry. Go ahead Peter.

明白了，謝謝。還有一個——抱歉。繼續吧，彼得。

Just add one thing though. You should get your orders in early if you would like to get the first of the line, so to speak. So, we encourage customers to order early.

只需添加一件事即可。可以這麼說，如果您想排在第一位，您應該儘早下訂單。因此，我們鼓勵顧客儘早訂購。

Understood. And one more on the quantum networking deal, it seems like -- well, you said it that these systems are different from your actual quantum computers. I guess could you provide some more color on that difference on what the difference is, maybe how long it takes to manufacture these? Is there an #AQ score that you provide for these? What -- I guess anything would be helpful?

明白了。還有一個關於量子網路交易的問題，似乎——嗯，你說這些系統與實際的量子電腦不同。我想你能提供更多關於這種差異的顏色嗎？差異是什麼，也許製造這些需要多長時間？你們是否為這些提供了#AQ 分數？什麼－我想有什麼會有幫助的嗎？

Yeah, they're kind of -- there's two different purposes. One of them, which is the Forte Enterprise and Tempo systems. Those ones are -- people are worried about uptime and they're looking for as high an #AQ number as they can possibly get, and so, they're building applications with those things. The networking is more on the R&D side, and so, what they're looking to do is to get quantum computers and then add in their own hardware to be able to do quantum networking.

是的，它們有兩個不同的目的。其中之一是 Forte Enterprise 和 Tempo 系統。這些是——人們擔心正常運行時間，他們正在尋找盡可能高的 #AQ 數字，因此，他們正在用這些東西建立應用程式。網路更多的是在研發方面，因此，他們想要做的是獲得量子計算機，然後添加自己的硬體以能夠進行量子網路。

And so sometimes they're asking for us to make modifications so it's compatible with their hardware. It is -- they don't care about so much about the number of qubits or the #AQ. That's not really their focus. And they're more workbench systems. They care more about -- can we share technical information so that they can figure out how to integrate their hardware in.

因此有時他們會要求我們進行修改，以便與他們的硬體相容。他們不太關心量子位元的數量或#AQ。這並不是他們真正關注的焦點。它們更多的是工作台系統。他們更關心的是——我們能否分享技術訊息，以便他們能夠弄清楚如何整合他們的硬體。

So, it's kind of two different, and as far as uptime concerned, I mean, that's not really the goal of networking systems in the short term. It's not really about total uptime. It's more like, well, can we get the basics to work or can we get it to work over maybe starting at a mile and then over 10 miles and a hundred miles and hopefully eventually thousands of miles. So, it's much more of a R&D phase than what you see in the other systems, which are really production systems.

所以，這是兩種不同的，就正常運行時間而言，我的意思是，這並不是網路系統短期內的真正目標。這與總正常運轉時間無關。這更像是，我們能否讓基礎知識發揮作用，或者我們能否讓它發揮作用，也許從一英里開始，然後超過 10 英里和一百英里，希望最終達到數千英里。因此，與您在其他系統中看到的真正的生產系統相比，它更像是一個研發階段。

Obviously, sometime in the future we hope that quantum networking is a thing, and it will drive tremendous demand for production systems. Because if you're going to build a quantum internet, you're going to need a lot of these things -- and that's obvious. We're not selling that yet today; it's mostly in R&D -- I don't know if Dean, you would have.

顯然，在未來的某個時候，我們希望量子網路成為現實，它將推動對生產系統的巨大需求。因為如果你要建立一個量子互聯網，你將需要很多這樣的東西——這是顯而易見的。我們今天還沒有出售它；主要是在研發方面——我不知道Dean，你會不會這麼做。

So to give you a little bit of color in terms of just the differences between the hardware and the machines, the software stacks can change based off of the customer needs, for example. And so, some of the research customer software stack, we need to tailor to AFRL's needs. On the hardware side, the hardware is a lower qubit system to be able to support the networking.

因此，為了讓您了解硬體和機器之間的差異，例如，軟體堆疊可以根據客戶需求進行更改。因此，我們需要根據 AFRL 的需求客製化一些研究客戶軟體堆疊。在硬體方面，硬體是一個較低的量子位元系統，能夠支援網路。

Similar atomic species, they're both barium systems. It's like our Tempo systems and the systems for AFRL, the optical system design has a lot of leverage from our existing systems. A lot of the mechanical design has carryover. There's some of the readout and everything is different based off of the needs of our networking. And so, while there are many common components, there are some distinct pieces -- networking being one piece of it -- but just part of it is just the needs of the research community versus the needs of a commercial installation.

類似的原子種類，它們都是鋇系統。就像我們的 Tempo 系統和 AFRL 系統一樣，光學系統設計充分利用了我們現有系統的優勢。許多機械設計都有遺留。有一些讀數，根據我們網路的需求，一切都不同。因此，雖然有許多常見的組件，但也有一些不同的部分——網路是其中的一部分——但只是其中的一部分只是研究社區的需求與商業安裝的需求。

Understood. Thank you. And it seems like these quantum networking systems have a high price tag and a quicker rev rec. Could we expect more announcements like this over the next 18 months maybe?

明白了。謝謝。而這些量子網路系統似乎價格很高，轉速也更快。我們是否可以期待在接下來的 18 個月內會有更多類似的公告？

We certainly hope so. We'll talk about quantity, but yes, we - I mean it's - there's a number of companies and startups which are working on quantum networking. So as part of our pipeline that we talked about in terms of we have a robust pipeline, we're in middle of conversations to provide more of these things with other customers.

我們當然希望如此。我們將討論數量，但是，是的，我們 - 我的意思是 - 有許多公司和新創公司正在研究量子網路。因此，作為我們所討論的管道的一部分，我們擁有強大的管道，我們正在與其他客戶進行對話，以提供更多這些東西。

Perfect. Thanks, team,

完美的。謝謝，團隊，

Thank you all very much. This concludes our question-and-answer session. I would like to turn the conference back over to Peter Chapman for any closing remarks. Please, you may proceed.

非常感謝大家。我們的問答環節到此結束。我想將會議轉回彼得·查普曼（Peter Chapman）發表閉幕詞。請您繼續。

I want to thank everyone for joining us today and for all the thoughtful questions. Finally, I want to thank the entire IonQ team for the continued diligent work that allowed us to achieve many business and technical milestones this quarter. We truly believe that we are changing the world one day at a time, and I look forward to speaking with all of you soon. Thank you.

我要感謝大家今天加入我們並提出所有深思熟慮的問題。最後，我要感謝整個 IonQ 團隊的持續辛勤工作，使我們在本季度實現了許多業務和技術里程碑。我們堅信，我們正在一天一天地改變世界，我期待很快與你們所有人交談。謝謝。

This conference has now concluded. Thank you for attending today's presentation. You may now disconnect your lines. Have a great day

本次會議現已結束。感謝您參加今天的演講。現在您可以斷開線路。祝你有美好的一天