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Mar 31, 2023
Rigetti Q1 2023 Earnings Report
Rigetti Computing reported results for Q1 2023, with revenue increasing slightly and a net loss reported.
Key Takeaways
Rigetti Computing's Q1 2023 saw a slight increase in revenue to $2.2 million compared to $2.1 million in the same period last year. The company's operating loss was $22.0 million, and the net loss was $23.4 million, or $0.19 per share. Cash, cash equivalents, and available-for-sale securities totaled $122.0 million as of March 31, 2023.
Total revenues increased to $2.2 million from $2.1 million year-over-year.
Operating loss decreased to $22.0 million from $25.3 million year-over-year.
Net loss was $23.4 million, or $0.19 per share, compared to $17.6 million, or $0.33 per share, in the same period of 2022.
Cash, cash equivalents, and available-for-sale securities totaled $122.0 million as of March 31, 2023.
Forward Guidance
Rigetti expects to have between $65 and $75 million in cash, cash equivalents, and available-for-sale securities at the end of 2023 and anticipates needing to raise additional funding by late 2024 or early 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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