Rigetti Computing 3Q Sales Fall Ahead of Customer Sign-Off on India Deal

What happened

Rigetti Computing’s third-quarter revenue fell 28% to $1.4 million, while its adjusted loss was 6 cents per share, wider than analysts’ 5-cent estimate. The company is awaiting customer acceptance of its quantum computer built for India’s C-DAC and expects about $20 million in full-year revenue if acceptance and revenue recognition occur in the fourth quarter.

Confirmed

Global impact / market context

The revenue outlook depends on C-DAC accepting the system and Rigetti recording the associated sale in the fourth quarter. If either step is delayed, revenue could fall short of the company’s roughly $20 million expectation, potentially widening the gap with analysts’ $22.6 million forecast.

Analyst inference

The reported revenue shortfall and wider-than-expected adjusted loss could weigh on investor positioning because they highlight weak current sales. Full-year revenue also depends on C-DAC accepting the India system and Rigetti recognizing related revenue in the fourth quarter, making that timing important to the company’s outlook.

Analyst inference

What to watch

1. Watch for C-DAC’s customer acceptance of the quantum computer; this is the stated condition for Rigetti to recognize the associated revenue in the fourth quarter. Confirmed
2. Rigetti expects about $20 million in full-year revenue if acceptance and revenue recognition occur in the fourth quarter; analysts forecast $22.6 million. Confirmed
3. If acceptance or revenue recognition slips beyond the fourth quarter, the company may miss its outlook, reducing reported sales and potentially pressuring investor expectations. Analyst inference

Evidence

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