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This Quarterly Report on Form 10-Q contains statements that may constitute"forward-looking statements" within the meaning of Section 27A of the SecuritiesAct of 1933, as amended (the "Securities Act"), and Section 21E of theSecurities Exchange Act of 1934, as amended (the "Exchange Act"), that involvesubstantial risks and uncertainties. All statements contained in this QuarterlyReport on Form 10-Q other than statements of historical fact, includingstatements regarding our future results of operations and financial position,our business strategy and plans, and our objectives for future operations, areforward-looking statements. The words "believes," "expects," "intends,""estimates," "projects," "anticipates," "will," "plan," "may," "should," orsimilar language are intended to identify forward-looking statements.It is routine for our internal projections and expectations to change throughoutthe year, and any forward-looking statements based upon these projections orexpectations may change prior to the end of the next quarter or year. Readers ofthis Quarterly Report on Form 10-Q are cautioned not to place undue reliance onany such forward-looking statements. As a result of a number of known andunknown risks and uncertainties, our actual results or performance may bematerially different from those expressed or implied by these forward-lookingstatements. Risks and uncertainties are identified under "Risk Factors" inItem 1A herein and in our other filings with the Securities and ExchangeCommission (the "SEC"). All forward-looking statements included herein are madeonly as of the date hereof. Unless otherwise required by law, we do notundertake, and specifically disclaim, any obligation to update anyforward-looking statement, whether as a result of new information, futureevents, or otherwise after the date of such statement.You should read the following discussion and analysis of our financial conditionand results of operations together with our unaudited condensed consolidatedfinancial statements and related notes included elsewhere in this QuarterlyReport on Form 10-Q, and our audited consolidated financial statements andrelated notes for the year ended December 31, 2021, filed with the SEC onMarch 28, 2022. Unless the context otherwise requires, the terms "IonQ," "LegacyIonQ" "we," "us," "our" and similar terms refer to IonQ Quantum, Inc. prior tothe consummation of the Business Combination and IonQ, Inc. and its wholly ownedsubsidiaries after the consummation of the Business Combination. References to"dMY" refer to the predecessor company prior to the consummation of the BusinessCombination.OverviewWe are developing quantum computers designed to solve the world's most complexproblems, and transform business, society, and the planet for the better. Webelieve that our proprietary technology, our architecture, and the technologyexclusively available to us through license agreements will offer us advantagesboth in terms of research and development, as well as the commercial value ofour intended product offerings. We sell access to quantum computers, and we arein the process of researching and developing technologies for quantum computerswith increasing computational capabilities. We currently make access to ourquantum computers available via three major cloud platforms, Amazon WebServices' (AWS) Amazon Braket, Microsoft's Azure Quantum, and Google's CloudMarketplace, and to select customers via our own cloud service.We are still in the early stages of generating revenue. We have incurredsignificant operating losses since our inception. Our net losses were $5.9million for the six months ended June 30, 2022, and we expect to continue toincur significant losses for the foreseeable future. As of June 30, 2022, we hadan accumulated deficit of $151.7 million. We expect to continue to incur lossesfor the foreseeable future as we prioritize reaching the technical milestonesnecessary to achieve increasingly higher number of stable qubits and higherlevels of fidelity than that which presently exists- prerequisites for quantumcomputing to reach broad quantum advantage.

The Merger Agreement and Public Company Costs

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Business and Technical Highlights

IonQ announced a paid contract with Airbus, who is using Aria to explore

critical aviation variables that make this problem particularly difficult

IonQ announced a paid contract with Dow, a global leader in chemistry and

material science, who is using Aria to explore the boundaries of quantum

computing in materials discovery research. They join other customers who

are partnering with IonQ to explore the intersection of quantum machine

IonQ announced the results of a partnership with GE Research to develop a

quantum algorithm that manages financial risk exposure. The work used a

large data set to generate risk models across up to four variables and is

broadly applicable to industries which have risk-management needs, such

computer in the world with 23 algorithmic qubits, which will be available

tomorrow to all users of Microsoft Azure Quantum. This announcement

IonQ signed a formal agreement to collaborate with the University of

Maryland on a project for the National Science Foundation. For this, IonQ

IonQ finalized a subcontract with Zapata Computing to collaborate on a

offering, representing more than a 130,000x increase in computational

IonQ announced an 8x increase in the computation power of IonQ Harmony,

which has achieved up to #AQ 9, up from a previous benchmark of #AQ 6.

Harmony systems are available to customers via all three major cloud

partners, including Microsoft Azure, Amazon Web Services, and Google

processing, or NLP. IonQ created quantum NLP algorithms to represent

linguistic qualities like ambiguity, vagueness, and novelty which are

notoriously difficult to represent in classical compute. No previously

published work has demonstrated ambiguity resolution or language

generation working on live quantum hardware. IonQ believes quantum

techniques of this nature can dramatically improve NLP performance.

IonQ has identified a facility in Seattle, Washington to host its first

after serving as Vice President of Systems Engineering at PsiQuantum and

IonQ welcomed Kathy Chou to the IonQ Board of Directors in July 2022. Ms.

Chou is currently the Senior Vice President of SaaS Engineering at

Nutanix, and brings a wealth of experience in go-to-market strategy and

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Impact of COVID-19 on Our Business

Key Components of Results of Operations

Revenue

We are currently focused on marketing our QCaaS and have entered into, and arecontinuing to enter into, new contracts with customers.

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Research and development

General and administrative

General and administrative expenses consist of personnel-related expenses,including salaries, benefits and stock-based compensation, and allocatedfacility and other costs for our corporate, executive, finance, and otheradministrative functions. General and administrative expenses also includeexpenses for outside professional services, including legal, auditing andaccounting services, recruitment expenses, information technology, travelexpenses and certain non-income taxes, insurance, and other administrativeexpenses.

Depreciation and amortization

Depreciation and amortization expense results from depreciation and amortizationof our property and equipment and intangible assets that is recognized overtheir estimated lives.

Nonoperating Costs and Expenses

Change in fair value of warrant liabilities

Interest income, net

Interest income, net consists of income earned on our money market funds andother available-for-sale investments.

Other income (expense), net

Other income (expense), net consists of realized losses on ouravailable-for-sale investments and certain other expenses.

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Results of Operations

41,771 17,544

(1) Cost of revenue, research and development, sales and marketing, and general

Comparison of the Three Months Ended June 30, 2022 and 2021

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Research and development expenses increased by $4.2 million, or 76%, to$9.7 million for the three months ended June 30, 2022, from $5.5 million for thethree months ended June 30, 2021. The increase was primarily driven by a$2.5 million increase in payroll-related expenses, including stock-basedcompensation of $1.7 million, as a result of increased headcount, and a$1.5 million increase in materials, supplies and equipment costs.

Sales and marketing

Depreciation and amortization

Depreciation and amortization $ 1,451 $ 502 $ 949 189 %

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Change in fair value of warrant liabilities

Change in fair value of warrant liabilities $ 16,061 $

Comparison of the Six Months Ended June 30, 2022 and 2021

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Depreciation and amortization

Depreciation and amortization $ 2,717 $ 947 $ 1,770

187 %

Change in fair value of warrant liabilities

Change in fair value of warrant liabilities $ 29,509 $ - $ 29,509

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Interest income, net increased by $1.9 million to $1.9 million for the sixmonths ended June 30, 2022, from zero for the six months ended June 30, 2021.The increase was primarily driven by interest income earned on our cashequivalents and available-for-sale investments.

Liquidity and Capital Resources

Future Funding Requirements

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Cash flows

The following table summarizes our cash flows for the period indicated:

Cash flows from operating activities

Cash flows from investing activities

Cash flows from financing activities

Net cash provided by financing activities during the six months ended June 30,2021, was $5.4 million primarily resulting from proceeds from stock optionsexercised.

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Critical Accounting Estimates

There have been no material changes to our critical accounting estimates fromthose described under "Management's Discussion and Analysis of FinancialCondition and Results of Operations" in our Annual Report.

Recently Issued and Adopted Accounting Standards

See Note 2, Summary of Significant Accounting Policies, in the notes to ourcondensed consolidated financial statements included in Part I, Item I of thisQuarterly Report on Form 10-Q for a discussion of recent accountingpronouncements.

Emerging Growth Company and Smaller Reporting Company Status

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Edgar Online, source Glimpses

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IONQ, INC. Management's Discussion and Analysis of Financial Condition and Results of Operations (form 10-Q) - Marketscreener.com

Quantinuum, the quantum computing company spun out from Honeywell, said this week that it had made a breakthrough in the technology that should help accelerate commercial adoption of quantum computers.

It has to do with real-time correction of errors.

One of the biggest issues with using quantum computers for any practical purpose is that the circuits in a quantum computer are highly susceptible to all kinds of electromagnetic interference, which causes errors in its calculations. These calculation errors must be corrected, either by using software, often after a calculation has run, or by using other physical parts of the quantum circuitry to check for and correct the errors in real time. So far, while scientists have theorized ways for doing this kind of real-time error correction, few of the methods had been demonstrated in practice on a real quantum computer.

The theoretically game-changing potential of quantum computers stems from their ability to harness the strange properties of quantum mechanics. These machines may also speed up the time it takes to run some calculations that can be done today on supercomputers, but which take hours or days. In order to achieve those results, though, ironing out the calculation errors is of utmost importance. In 2019, Google demonstrated that a quantum computer could perform one esoteric calculation in 200 seconds that it estimated would have taken a traditional supercomputer more than 10,000 years to compute. In the future, scientists think quantum computers will help make the production of fertilizer much more efficient and sustainable as well as create new kinds of space-age materials.

Thats why it could be such a big deal that Quantinuum just said it has demonstrated two methods for doing real-time error correction of the calculations a quantum computer runs.

Tony Uttley, Quantinuums chief operations officer, says the error-correction demonstration is an important proof point that the company is on track to being able to deliver a quantum advantage for some real-world commercial applications in the next 18 to 24 months. That means businesses will able to run some calculationspossibly for financial risk or logistics routingsignificantly faster, and perhaps with better results, by using quantum computers for at least part of the calculation than they could by just using standard computer hardware. This lends tremendous credibility to our road map, Uttley said.

Theres a lot of money in Quantinuums road map. This past February, the firms majority shareholder, Honeywell, foresaw revenue in Quantinuums future of $2 billion by 2026. That future could have just drawn nearer.

Uttley says that today, there is a wide disparity in the amount of money different companies, even direct competitors in the same industry, are investing in quantum computing expertise and pilot projects. The reason, he says, is that there are widely varying beliefs in how soon quantum computers will be able to run key business processes faster or better than existing methods on standard computers. Some people think it will happen in the next two years. Others think these nascent machines will only start to realize their business potential a decade from now. Uttley says he hopes this weeks error-correction breakthrough will help tip more of Quantinuums potential customers into the two-year camp.

A $2 billion market opportunity

Honeywells projection of at least $2 billion in revenue from quantum computing by 2026 was a revisiona year earlier than it had previously forecast. The error-correction breakthrough ought to give Honeywell more confidence in that projection.Quantinuum is one of the most prominent players in the emerging quantum computer industry, with Honeywell having made a bold and so far successful bet on one particular way of creating a quantum computer. That method is based on using powerful electromagnets to trap and manipulate ions. Others, such as IBM , Google, and Rigetti Computing, have created quantum computers using superconducting materials. Microsoft has been trying to create a variation of this superconducting-based quantum computer but using a slightly different technology that would be less prone to errors. Still others are creating quantum computers using lasers and photons. And some companies, such as Intel, have been working on quantum computers where the circuits are built using more conventional semiconductors.

The ability to perform real-time error correction could be a big advantage for Quantinuum and its trapped-ionbased quantum computers as it competes for a commercial edge over competing quantum computer companies. But Uttley points out that besides selling access to its own trapped-ion quantum computers through the cloud, Quantinuum also helps customers run algorithms on IBMs superconducting quantum computers. (IBM is also an investor in Quantinuum.)

Different kinds of algorithms and calculations may be better suited to one kind of quantum computer over another. Trapped ions tend to remain in a quantum state for relatively long periods of timewith the record being an hour. Superconducting circuits, on the other hand, tend to stay in a quantum state for a millisecond or less. But this also means that it takes much longer for a trapped-ion quantum computer to run a calculation than for a superconducting one, Uttley says. He envisions a future of hybrid computing where different parts of an algorithm are run on different machines in the cloudpartially on a traditional computer, partly on a trapped-ion quantum computer, and partly on a superconducting quantum computer.

In a standard computer, information is represented in a binary form, either a 0 or a 1, called a bit. Quantum computers use the principles of quantum mechanics to form their circuits, with each unit of the circuit called a qubit. Qubits can represent both 0 and 1 simultaneously. This means that each additional qubit involved in performing calculations doubles the power of a quantum computer. This doubling of power for every additional qubit is one reason that quantum computers will, in theory, be far more powerful than even todays largest supercomputers. But this is only true if the issue of error-correction can be successfully tackled and if scientists can figure out how to successfully link enough qubits together to exceed the power of existing standard high-performance computing clusters.

Quantinuum demonstrated two different error-correction methodsone called the five-qubit code and the other called the Steane code. Both methods use multiple physical qubits to represent one logical part of the circuit, with some of those qubits actually performing the calculation and the others checking and correcting errors in the calculation. As the name suggests, the five-qubit code uses five qubits, while the Steane code uses seven qubits. Uttley says that Quantinuum discovered that the Steane code worked significantly better than the five-qubit code.

That may mean it will become the dominant form of error correction, at least for trapped-ion quantum computers, going forward.

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One of the biggest names in quantum computing could have just cracked open the multibillion-dollar market with a new breakthrough - Fortune

D-Wave and DPCM Complete Their Business Combination

The companies announced that their SPAC merger has been approved and that D-Wave will become a public company and will be listed on the New York Stock Exchange (NYSE) under the ticker symbols QBTS for the common stock and QBTS WS for the warrants. Members of the companys management will ring the opening bell of the NYSE when trading starts on Monday, August 8. The transaction was first announced in February of this year and a shareholder vote to approve it occurred earlier this week. Shareholders of DPCM Capitals Class A Common Stock had the right to redeem their shares for pro rata portion of the funds in the companys trust account. The shareholders elected to redeem about 29 million of these shares out of the 37.5 million total requiring a total payment of $291 million for the redemptions. So those funds will not be available to D-Wave for working capital. Additional information about the completion of this business combination is available in a press release that can be seen here and also the Form 8-K the companies have filed with the Securities and Exchange Commission (SEC) here.

August 5, 2022

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D-Wave and DPCM Complete Their Business Combination - Quantum Computing Report

Vitalik Buterin believes that the future of the Ethereum blockchain and crypto ETH is good, but there are many challenges to be solved.

Not long ago the founder of Ethereum made public about the future of blockchain which is widely used for various crypto projects. Heres the gist of what he told BUIDL in Asia programahead of plan Sickness going to Ethereum 2.0 Which will be held in September 2022.

The ZK-Rollup project is considered the most important foundation Example The Ethereum blockchain is getting widespread.

There are ZK-rollups Crypto transaction protocol that allows indirect transactions via the Ethereum blockchain aka off-chain,

This method will radically speed up transactions and increase their volume. In the end this will increase efficiency and expand Example Ethereum blockchain itself, including adoption ETH As for its crypto.

This technique is similar to the technique power network Used to improve from 2018 Example Blockchain Litecoin and Bitcoin.

In the long term, ZK-rollups will outperform optimistic rollup techniques, Vitalik said.

Again according to Vitalik, Ethereum developers should be prepared to face the threat of quantum computing, which is expected to get exponentially better in terms of speed.

The discourse on quantum computing, which is considered a major threat to current blockchain technology, including bitcoin, has been going on since 4 years ago.

Because at that time quantum computing technology experienced significant development, after it was proved that it is capable of computing very complex calculations in just 10 minutes. If you use todays supercomputers, it could take up to thousands of years.

Quantum computing does not rely on the combination of 0 or 1 numbers, binary numbers, but on the concept of qubitwhere two states Can run at once, i.e. 0 or 1 and 0 and 1. This may be because the processor does not take advantage of the electrical dynamics of transistors, but particles at the subatomic level.

This means that the computational speed is millions of times higher than that of todays supercomputers and is expected to continue to increase in the future to make it easier for humans to do their jobs.

The problem is that the smarter quantum computers are, the more they threaten current human cryptographic security systems, including the bitcoin blockchain that uses SHA256.

Vitalik Buterin: Googles quantum computer failed

This huge growth in quantum computing was noted by Vitalik last year, that the power of new computers is not a threat now, but will be in the future.

This is because quantum computing promises a new world of derivative technology, but at the same time poses a threat to traditional technology. This is exactly what happened when the first supercomputer was developed.

You can read the Blockchainmedia.id archive Related to quantum computing on this page,

We are currently working with several artificial intelligence researchers to develop new algorithms that can compete with the high capabilities of quantum computing. This is still a long way off, between 10-30 years from now, said Vitalik. he said. [ps]

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Vitalik Buterin, The Future Of Ethereum (ETH) And The Challenge Of Quantum Computing - Nation World News

COLLEGE PARK, Md.--(BUSINESS WIRE)--IonQ (NYSE: IONQ), an industry leader in quantum computing, today announced its participation in the third annual North American Conference on Trapped Ions (NACTI). The event will take place at Duke University on August 1-4, 2022, and brings together dozens of the worlds leading quantum scientists and researchers to discuss the latest advancements in the field of quantum.

Participating for the third time at this event, IonQ co-founder and CTO Jungsang Kim will speak on the latest IonQ Aria performance updates, IonQ Forte gate results, and the importance of an industry-wide benchmarks based on a collection of real-world algorithms such as algorithmic qubits (#AQ) that can better represent any quantum computers performance and utility.

Other topics on the agenda for NACTI include: quantum scaling and architectures, including networking; fabrication and development of new traps; increasing accessibility; control hardware and software for trapped ions; new qub(d)its and gates; quantum computing and simulation employing ion trapping techniques; looking beyond atomic ions; precision measurements and clocks; among others.

To learn more about IonQ Aria with details on performance and its technical prowess, click the link here for more information.

About IonQ

IonQ, Inc. is a leader in quantum computing, with a proven track record of innovation and deployment. IonQ's current generation quantum computer, IonQ Forte, is the latest in a line of cutting-edge systems, including IonQ Aria, a system that boasts industry-leading 20 algorithmic qubits. Along with record performance, IonQ has defined what it believes is the best path forward to scale. IonQ is the only company with its quantum systems available through the cloud on Amazon Braket, Microsoft Azure, and Google Cloud, as well as through direct API access. IonQ was founded in 2015 by Christopher Monroe and Jungsang Kim based on 25 years of pioneering research. To learn more, visit http://www.ionq.com.

IonQ Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words anticipate, expect, suggests, plan, believe, intend, estimates, targets, projects, should, could, would, may, will, forecast and other similar expressions are intended to identify forward-looking statements. These statements include those related to IonQs ability to further develop and advance its quantum computers and achieve scale; IonQs ability to optimize quantum computing results even as systems scale; the expected launch of IonQ Forte for access by select developers, partners, and researchers in 2022 with broader customer access expected in 2023; IonQs market opportunity and anticipated growth; and the commercial benefits to customers of using quantum computing solutions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: market adoption of quantum computing solutions and IonQs products, services and solutions; the ability of IonQ to protect its intellectual property; changes in the competitive industries in which IonQ operates; changes in laws and regulations affecting IonQs business; IonQs ability to implement its business plans, forecasts and other expectations, and identify and realize additional partnerships and opportunities; and the risk of downturns in the market and the technology industry including, but not limited to, as a result of the COVID-19 pandemic. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the Risk Factors section of IonQs Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 and other documents filed by IonQ from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and IonQ assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. IonQ does not give any assurance that it will achieve its expectations.

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IonQ to Participate in Third Annual North American Conference on Trapped Ions (NACTI) - Business Wire