BERKELEY, Calif., Nov. 10, 2023 — Rigetti Computing, Inc. (Nasdaq: RGTI), a pioneer in full-stack quantum-classical computing, today announced its financial results for the third quarter ended September 30, 2023.
Third Quarter 2023 Financial Highlights
- Total revenues for the three months ended September 30, 2023 were $3.1 million.
- Total operating expenses for the three months ended September 30, 2023 were $19.1 million.
- Operating loss for the three months ended September 30, 2023 was $16.8 million.
- Net loss for the three months ended September 30, 2023 was $22.2 million.
- As of September 30, 2023 cash, cash equivalents and available-for-sale securities totaled $110.2 million.
- Raised $12.7 million during the three months ended September 30, 2023 from sales of stock through the Company’s Common Stock Purchase Agreement with B. Riley.
Based on its current operating plan and assuming no additional capital is raised in the three months ending December 31, 2023, Rigetti expects to have cash, cash equivalents, and available-for-sale securities of $88 million-$94 million at the end of 2023.
Consolidated Balance Sheets can be found here.
Rigetti is a pioneer in full-stack quantum computing. The Company has operated quantum computers over the cloud since 2017 and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. The Company’s proprietary quantum-classical infrastructure provides high performance integration with public and private clouds for practical quantum computing. Rigetti has developed the industry’s first multi-chip quantum processor for scalable quantum computing systems. The Company designs and manufactures its chips in-house at Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility.