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  "documentTitle": "IonQ Inc. (IONQ)",
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  "notes": "The slide uses a direct quote from an earnings call transcript to expose a lack of transparency regarding revenue sources.",
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      "text": "CFO comments during IonQ Q3 2021 earnings call on Nov 15, 2021",
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      "text": "He trumpeted the tripling of bookings, and then talked up the Q-Lab deal with Maryland – but failed to disclose the critical fact that the tripling was due to this one particular deal, even representing the increase as due to “customers” versus one related party.",
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      "text": "He trumpeted the tripling of bookings, and then talked up the Q-Lab deal with Maryland – but failed to disclose the critical fact that the tripling was due to this one particular deal, even representing the increase as due to “customers” versus one related party.",
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      "text": "We find it amazing that not only did the CEO refuse to answer a simple question on the earnings call regarding the number of customers who comprise the $15MM of “bookings,” but that the CFO engaged in a similar game.",
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      "text": "As Peter touched upon earlier, in Q3, we announced a partnership with the University of Maryland to create the national quantum lab at Maryland, or Q-Lab [...] Access to the facility will be open to UMD affiliated students, faculty, researchers, staff and partners across the country allow in collaboration with our own scientists and engineers. We will be the exclusive provider of quantum computers to the Q-Lab. And as such, the University of Maryland is an important customer.",
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      "text": "Thank you, Peter, and good afternoon, everyone. I would like to start off by quickly going through some of our financial results in more detail. Earlier in Q3, we raised our full year 2021 forecasted bookings expectations from $5 million to $15 million. Today, I am happy to announce that as of the end of Q3, our total bookings for the year have already exceeded our increased expectations for the full year ending up at $15.1 million. We believe this is a recognition of the promise our customers see in our platform, and resulted from customers buying more and also earlier than we had expected.",
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      "text": "“Thank you, Peter, and good afternoon, everyone. I would like to start off by quickly going through some of our financial results in more detail. Earlier in Q3, we raised our full year 2021 forecasted bookings expectations from $5 million to $15 million. Today, I am happy to announce that as of the end of Q3, our total bookings for the year have already exceeded our increased expectations for the full year ending up at $15.1 million. We believe this is a recognition of the promise our customers see in our platform, and resulted from customers buying more and also earlier than we had expected.” — CFO, IonQ Q3 2021 earnings call on Nov 15, 2021",
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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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