IonQ (NYSE: IONQ) surged in pre trading session on Monday as the firm announced financial results for the quarter and full year ended December 31, 2022, and provided a business update.

President and CEO of IonQ, Peter Chapman stated that IonQ had a fantastic 2022. The most developed and well-funded public pure play quantum computing business in the world, they continue to dominate their sector.

“Our FY22 objective of 25 #AQ was achieved early, and our FY23 goal of 29 #AQ assures that we will continue to fight to extend our technological leadership in the sector. Our systems are expected to remain the most powerful in the world as we continue to execute on our technology roadmap, enabling our clients to tackle their most challenging issues.”

While market conditions have slowed demand for some technologies, even hurting some of our counterparts, Chapman emphasized that IonQ is still growing. While customers and prospects continue to express enthusiasm and commitment for both our leading-edge quantum computers and the whole quantum future, our financial prognosis for the year projects even quicker growth than in 2022.

IonQ’s diverse business model and alliances with several major, international banks made the company’s exposure to recent banking industry developments irrelevant. IonQ is certain that this strategy will benefit the company going forward.

Based on the present roadmap, IonQ is confident in the condition of its cash and other financial assets and thinks they give the Company enough reserves to reach profitability without having to raise further money.

In the fourth quarter, net loss was $18.6 million as opposed to $74.1 million in the same period the year before. For the whole year 2022, net loss was $48.5 million as opposed to $106.2 million in 2021.

Entangled Networks, a Toronto-based business that specializes in creating full-stack quantum compilers and the next generation of networked quantum computer architectures, has been acquired by IonQ.