---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-284732"
form_type: "8-K"
ticker: "RGTI"
cik: "0001838359"
company_name: "Rigetti Computing, Inc."
filed_at: "2022-11-14T23:59:59+00:00"
generated_at: "2026-06-21T21:15:57.417622+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Rigetti Computing restates Q1 and Q2 2022 financials due to accounting errors in earn-out liability and utility fees

## Summary
- Audit committee concludes Q1 and Q2 2022 financials should not be relied upon; will restate via Form 10-Q/A amendments.
- Earn-out liability for Sponsor Vesting Shares misaccounted: volatility weighting revised, increasing net loss and decreasing liabilities.
- Additional estimated $1.6M in unpaid electrical utility fees since 2019 to be accrued, increasing operating expenses and net loss.
- Reassessing fair value of private warrant liabilities and correcting immaterial error related to Trinity Capital warrants.
- Filing Form 12b-25 for delayed Q3 2022 10-Q; possible material weakness in internal controls over complex instruments.

## SEC filing metadata
- accession: 0001193125-22-284732
- form_type: 8-K
- ticker: RGTI
- cik: 0001838359
- company_name: Rigetti Computing, Inc.
- filed_at: 2022-11-14T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1838359/000119312522284732/0001193125-22-284732-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1838359/000119312522284732/d373900d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-284732
- JSON: https://secwatch.observer/filing/0001193125-22-284732.json
- Plain text: https://secwatch.observer/filing/0001193125-22-284732.txt

## Key facts
- Auditor Changes
  Rigetti Computing, Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: On November 14, 2022, the audit committee of the Company’s board of directors (the “Audit Committee”), based on the recommendation of, and after consultation with, the Company’s management, and as discussed with BDO USA, LLP (“BDO”), the Company’s independent registered public accounting firm, concluded that the Company’s previously issued unaudited interim condensed consolidated financial statements for the quarters ended March 31, 2022 and June 30, 2022 (the “Affected Financials”), each as previously filed with the SEC, should no longer be relied upon and should be restated due to the matters described below.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1838359/000119312522284732/0001193125-22-284732-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.