Loading...
•
Jun 30, 2022
Rigetti Q2 2022 Earnings Report
Announced second quarter 2022 financial results and provided a business update.
Key Takeaways
Rigetti Computing reported a 39% increase in revenue to $2.1 million compared to the prior year period, with a gross profit of $1.3 million. The company remains on track with its technology roadmap, including the development of 84-qubit and 336-qubit systems. They also enhanced liquidity by entering into a $75 million committed equity facility.
Demonstrated significant progress on its anticipated 84-qubit and 336-qubit systems, remaining on track to meet previously announced technology roadmap objectives.
Demonstrated CLOPS speed performance greater than 4,000 on both Aspen-11 and Aspen-M-2, a 4.5x increase from our previous performance results reported in February 2022.
Expanded business presence in the U.K. with two new contract wins from Innovate U.K. and launch of the Company’s first U.K.-based quantum computer.
Announced being selected by DARPA to lead a program to develop benchmarks for quantum application performance on large-scale quantum computers.
Forward Guidance
The company estimated revenues for fiscal year 2022 would be in the range of $12 to $13 million. The Adjusted EBITDA loss for fiscal year 2022 could be greater than the $50 to $53 million range.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...