Rigetti Q4 rev $6.1M, net loss $22.9M; expects cash $65-75M by end 2023

Rigetti Computing, Inc.

Q4 revenue $6.1M (up from $1.8M YoY); full-year revenue $13.1M (vs $8.2M in 2021 11-month period).
Q4 net loss $22.9M ($0.19/sh) vs $14.1M ($0.61/sh) prior year; FY net loss $71.5M ($0.70/sh).
Cash and securities $142.8M at Dec 31, 2022; expects year-end 2023 cash of $65-75M; needs funding by late 2024/early 2025.
Executive changes: Subodh Kulkarni CEO Dec 2022, Jeff Bertelsen CFO Feb 2023, David Rivas CTO Feb 2023.
Ankaa-1 84-qubit chip deployed internally; targeting 98% fidelity for Ankaa-2 in Q4 2023, 99% in 2024; plan for 336-qubit Lyra.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Rigetti Computing, Inc. reported the three months ended December 31, 2022 results: revenue $6.1 million, net income $22.9 million, EPS $0.19 per share.

Period: the three months ended December 31, 2022
Revenue: $6.1 million
Net income: $22.9 million
EPS: $0.19 per share
Result: reported results

Exact text from the filing

Total revenues for the three months ended December 31, 2022 were $6.1 million, compared to $1.8 million in the same period of 2021. • Total operating expenses for the three months ended December 31, 2022 were $32.0 million, compared to $12.2 million in the same period of 2021. • Operating loss for the three months ended December 31, 2022 was $26.7 million, compared to $11.1 million in the same period of 2021. • Net loss for the three months ended December 31, 2022 was $22.9 million or $0.19 per share, compared to $14.1 million or $0.61 per share in the same period of 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Rigetti Computing, Inc. reported the year ended December 31, 2022 results: revenue $13.1 million, net income $71.5 million, EPS $0.70 per share.

Period: the year ended December 31, 2022
Revenue: $13.1 million
Net income: $71.5 million
EPS: $0.70 per share
Result: reported results

Exact text from the filing

Year-End 2022 Results • For the 12 months ending December 31, 2022, total revenues were $13.1 million, and net loss was $71.5 million or $0.70 per share.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

Rigetti Computing, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-080475

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