Rigetti Computing Inc. (RGTI) shares slipped after the quantum computing company reported its first-quarter results after Monday's closing bell. Here's a look at the numbers.
Rigetti Stock Dips After Q1 Earnings Beat Revenue Estimates
MarketDash
Quantum computing company Rigetti Computing reported Q1 results that met earnings expectations and beat revenue forecasts, but shares slipped in extended trading.
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Rigetti Q1 Details
Rigetti posted a quarterly loss of four cents per share, matching the consensus estimate. Revenue came in at $4.4 million, beating the analyst consensus of $3.97 million by 10.86%. The non-GAAP net loss for the quarter was $14.7 million.
“In the first quarter, we continued to execute on our strategy by bringing our 108-qubit Cepheus-1-108Q system into general availability on Rigetti QCS, Amazon Braket, Microsoft Azure Quantum and qBraid,” said Dr. Subodh Kulkarni, Rigetti CEO.
“We believe Cepheus-1-108Q is one of the most powerful generally available gate-based quantum computers in the world, and as the largest modular system on the market today, it is an important validation of our chiplet-based architecture in a production setting,” Dr. Kulkarni added.
Rigetti stock was down 1.95% to $20.11 in Monday's extended trading.
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