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  "documentTitle": "IonQ Inc. (IONQ)",
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  "authorName": "Scorpion Capital",
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  "presentationDate": "2022-05-03 00:00:00",
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  "notes": "The slide uses a direct transcript excerpt to frame the CEO's refusal to provide transparency as a red flag.",
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      "text": "The CEO evaded and refused to answer the question, which asked for the number of customers that comprise the bookings and their mix.",
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      "text": "The first question the CEO received on the company first ever earnings call – on Nov 15, 2021 - was from a Morgan Stanley analyst asking for basic detail about the YTD “total contract value bookings” of $15.1MM. The CEO evaded and refused to answer the question, which asked for the number of customers that comprise the bookings and their mix. The CEO stated that they have “thousands of customers” but that he wouldn’t “break out the individual customer names because many of these [sic] actually covered by confidentiality process.”",
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      "text": "Peter Chapman: “Hi, Katy, thanks for calling in, and excellent questions. What we have seen to date is that we've seen thousands of customers running projects on our machines with billions of shots in terms of running their quantum computations. We continue to see a mix of customers coming in through our public cloud where we actually don't know who all the customers are, because that fits with the public cloud provider, and we have customers on a private cloud as well. We are to date not going to break out the individual customer names because many of these actually covered by confidentiality process.”",
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      "text": "Katy Huberty: “Thank you. Good afternoon and congratulations on the public listing and many product announcements and milestones in the quarter. I have a couple of questions. The first is about the bookings and mix of bookings year-to-date, what can you tell us about the number of customers or deals within that 50 [sic] million of bookings, and about the mix of customers and use cases that you've seen this year?”",
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      "text": "“Thank you. Good afternoon and congratulations on the public listing and many product announcements and milestones in the quarter. I have a couple of questions. The first is about the bookings and mix of bookings year-to-date, what can you tell us about the number of customers or deals within that 50 [sic] million of bookings, and about the mix of customers and use cases that you've seen this year?” — Katy Huberty; “Hi, Katy, thanks for calling in, and excellent questions. What we have seen to date is that we've seen thousands of customers running projects on our machines with billions of shots in terms of running their quantum computations. We continue to see a mix of customers coming in through our public cloud where we actually don't know who all the customers are, because that fits with the public cloud provider, and we have customers on a private cloud as well. We are to date not going to break out the individual customer names because many of these actually covered by confidentiality process.” — Peter Chapman",
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      "text": "Source: IonQ Q3 earnings calls transcript https://seekingalpha.com/article/4469760-ionq-inc-class-ionq-ceo-peter-chapman-on-q3-2021-results-earnings-call-transcript",
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      "text": "Excerpt of IonQ Q3 2021 earnings call transcript, Nov 15, 2021",
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