Rigetti Computing, Inc. reports results for the quarter ended September 30 - Earnings Summary

What happened

Rigetti Computing reported an adjusted loss of 6 cents per share for the quarter ended September 30, compared with a loss per share a year earlier and analysts’ expected 5-cent loss. Revenue fell 27.5% to $1.41 million, below the $3.52 million analysts expected, and the company reported a total loss of $28.43 million.

Confirmed

Global impact / market context

Revenue came in well below analysts’ expectations, while the adjusted loss per share was also slightly larger than expected. If revenue remains weak, Rigetti would have less incoming cash to fund operations and development, while continued losses could increase pressure on its available cash.

Analyst inference

Analysts’ average earnings estimate had not changed over the prior three months, and there were no revisions in the prior 30 days. The shares had fallen 17.5% during the quarter and 41.4% year to date, while the average analyst rating remained “buy.”

Confirmed

What to watch

1. Future quarterly revenue will show whether the 27.5% decline persists; continued weakness could leave less cash coming in to support operations and development. Analyst inference
2. Compare upcoming adjusted loss per share with analysts’ estimates and the reported 8-cent loss, since the figures measure different forms of quarterly performance. Analyst inference
3. Analyst estimates were unchanged in the prior three months, with no revisions in the prior 30 days; check whether expectations change after this report. Confirmed

Evidence

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