Quarterly guidance

Quarterly guidance
No specific quarterly guidance was given, though management expects Q4 adjusted EBITDA to improve compared to Q3.

Annual guidance

Revenue
Raised to $505 million to $515 million.
Continuing revenue growth
Expecting more than 110% growth for the year.

Outlook

Quantum Security
Management believes the cybersecurity TAM could eventually exceed the quantum computing TAM, with recurring software revenue as a key driver.
Manufacturing
The company plans to scale manufacturing capacity to meet demand, utilizing its vertically integrated U.S. supply chain.
Profitability
Management is focused on a path to profitability, with plans to review back-office systems and site strategies in 2027.
Hybrid Workflows
The company expects future growth to come from hybrid workflows where quantum computers operate alongside classical GPU clusters.
DARPA Programs
Management highlighted their unique position as the only trapped ion company to advance to the final stage of the DARPA benchmarking initiative.