Rigetti Q1 2023 net loss $23.4M ($0.19/share); cash burn continues, expects funding need by late 2024

Rigetti Computing, Inc.

2023-Q1 EPS reported -$0.19 revenue$2,201,000

Revenue $2.2M (flat YoY); operating loss $22.0M vs $25.3M; net loss $23.4M vs $17.6M.
Cash, equivalents and securities $122.0M at March 31, 2023; expects $65-75M by year-end 2023.
Anticipates need for additional funding by late 2024 or early 2025 to continue R&D.
Ankaa-1 84-qubit chip achieves 96-97% median 2-qubit fidelity, 65-70ns gate speeds in internal testing.
Plans to launch Ankaa-1 to select customers mid-2023; Ankaa-2 expected Q4 2023.

item 2.02 item 9.01

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 first quarter ended March 31, 2023 results: revenue $2.2 million, net income $23.4 million or $0.19 per share, EPS $0.19 per share.

Period: the first quarter ended March 31, 2023
Revenue: $2.2 million
Net income: $23.4 million or $0.19 per share
EPS: $0.19 per share
Result: reported results

Exact text from the filing

its financial results for the first quarter ended March 31, 2023. First Quarter 2023 Financial Highlights • Total revenues for the three months ended March 31, 2023 were $2.2 million, compared to $2.1 million in the same period of 2022. • Total operating expenses for the three months ended March 31, 2023 were $23.7 million, compared to $27.0 million in the

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Rigetti Computing, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-142025

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