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Sep 30, 2024
Rigetti Q3 2024 Earnings Report
Rigetti reported financial results for Q3 2024 and provided business updates.
Key Takeaways
Rigetti Computing's total revenues for Q3 2024 were $2.4 million. The company's operating loss was $17.3 million and net loss was $14.8 million. As of September 30, 2024, cash, cash equivalents and available-for-sale securities totaled $92.6 million.
Total revenues for Q3 2024 were $2.4 million.
Operating loss for Q3 2024 was $17.3 million.
Net loss for Q3 2024 was $14.8 million.
Cash, cash equivalents and available-for-sale securities totaled $92.6 million as of September 30, 2024.
Forward Guidance
Rigetti plans to introduce a new modular system architecture in 2025, with a 36-qubit system expected by mid-2025 and a system with over 100 qubits by the end of 2025. The company remains on track to develop and deploy its 84-qubit Ankaa™-3 system by the end of 2024.
Positive Outlook
- Company plans to introduce a new modular system architecture in 2025.
- A 36-qubit system expected by mid-2025.
- A system with over 100 qubits expected by the end of 2025.
- Remains on track to develop and deploy its 84-qubit Ankaa™-3 system by the end of 2024.
- Demonstrated tiling of 9-qubit chips without deterioration in performance in Q3.
Historical Earnings Impact
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