secwatch.observer — SEC 8-K summary
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Issuer:     Rigetti Computing, Inc. (RGTI)
CIK:        0001838359
Form:       8-K
Filed at:   2023-03-27T23:59:59+00:00
Accession:  0001193125-23-080475
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1838359/000119312523080475/0001193125-23-080475-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1838359/000119312523080475/d468774d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-080475

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer