secwatch.observer — SEC 8-K summary
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Issuer:     Rigetti Computing, Inc. (RGTI)
CIK:        0001838359
Form:       8-K
Filed at:   2023-05-11T23:59:59+00:00
Accession:  0001193125-23-142025
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1838359/000119312523142025/0001193125-23-142025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1838359/000119312523142025/d448828d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-142025

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