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Sep 30, 2023
Rigetti Q3 2023 Earnings Report
Rigetti reported mixed results for Q3 2023, with revenue increasing slightly year-over-year but net losses remaining significant.
Key Takeaways
Rigetti Computing reported a revenue of $3.1 million for the third quarter of 2023, reflecting a slight increase compared to the previous year. However, the company experienced a net loss of $22.2 million. The company's cash, cash equivalents, and available-for-sale securities totaled $110.2 million as of September 30, 2023.
Total revenue reached $3.1 million for the three months ended September 30, 2023.
Operating loss amounted to $16.8 million for the three months ended September 30, 2023.
Net loss was $22.2 million for the three months ended September 30, 2023.
Cash, cash equivalents, and available-for-sale securities totaled $110.2 million as of September 30, 2023.
Forward Guidance
Rigetti anticipates having between $88 million and $94 million in cash, cash equivalents, and available-for-sale securities by the close of 2023, assuming no additional capital is raised.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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