IonQ Inc ( IONQ ) reported financial results for the second quarter after the market close on Wednesday. Here’s a look at the highlights from the quarter.

Q2 Earnings: IonQ’s second-quarter revenue increased 106% year-over-year to $11.4 million. The quantum computing company reported a quarterly loss of $37.6 million, or 18 cents per share, and an adjusted EBITDA loss of $23.7 million.

IonQ ( IONQ ) said it achieved $9 million worth of new bookings in the second quarter. The company noted it demonstrated a two-qubit native gate fidelity of 99.9% using its barium qubits in the quarter, which it said paves the way for highly accurate quantum systems to tackle increasingly complex problems.

IonQ ( IONQ ) ended the quarter with $402 million in cash, equivalents and investments.

“This was a tremendous quarter for IonQ ( IONQ ), with the company posting revenue well above the high-end of our guidance range and leading the industry in technical innovations that have brought the quantum era within reach,” said Peter Chapman, president and CEO of IonQ ( IONQ ). 

“Specifically, the second quarter saw the launch of our accelerated technical roadmap, our demonstration of 99.9% fidelity using our next-generation barium qubits, and our invention of an industry-first partial error correction scheme, a new technique that could allow much larger applications to run on near-term quantum systems.”

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Outlook: IonQ ( IONQ ) sees third-quarter revenue in the range of $9 million to $12 million. The company also raised its full-year 2024 guidance. IonQ ( IONQ ) now expects full-year revenue to be in the range of $38 million to $42 million. The company continues to expect full-year 2024 bookings of $75 million to $95 million.

Management is currently discussing the company's quarterly results on a conference call that kicked off at 4:30 p.m. E.T.

IONQ Price Action: IonQ ( IONQ ) shares were up 4.41% after-hours at $7.10 at the time of publication Wedensday, according to Benzinga Pro.