NASDAQ$RGTI
Rigetti Computing Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Rigetti Computing reported results for Q1 2023, with revenue increasing slightly and a net loss reported.
Rigetti Computing's Q1 2023 saw a slight increase in revenue to $2.2 million compared to $2.1 million in the same period last year. The company's operating loss was $22.0 million, and the net loss was $23.4 million, or $0.19 per share. Cash, cash equivalents, and available-for-sale securities totaled $122.0 million as of March 31, 2023.
- Total revenues increased to $2.2 million from $2.1 million year-over-year.
- Operating loss decreased to $22.0 million from $25.3 million year-over-year.
- Net loss was $23.4 million, or $0.19 per share, compared to $17.6 million, or $0.33 per share, in the same period of 2022.
- Cash, cash equivalents, and available-for-sale securities totaled $122.0 million as of March 31, 2023.
Headline financials
Revenue & EPS history
Rigetti · Revenue · Quarterly
$2.2M
Forward guidance
Rigetti expects to have between $65 and $75 million in cash, cash equivalents, and available-for-sale securities at the end of 2023 and anticipates needing to raise additional funding by late 2024 or early 2025.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
+1.3%
Avg return
Earnings day
+5.4%
Avg return
5 days after
+11.1%
Avg return
30 days after
40%
8 / 20 earnings
Positive
+38.2%
Q2 2023
Best reaction
-14.7%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +7.7% | -5.7% | — | |
| Q4 2025 | -4.4% | -4.3% | -20.1% | |
| Q3 2025 | -2.7% | -23.0% | -18.7% | |
| Q1 2025 | -14.7% | +2.6% | +4.8% | |
| Q4 2024 | +4.0% | -1.6% | -8.3% | |
| Q3 2024 | +11.8% | -7.2% | +292.8% | |
| Q2 2024 | +1.6% | +15.3% | -3.1% | |
| Q1 2024 | -7.2% | +5.6% | -18.4% | |
| Q4 2023 | -3.4% | -14.2% | -42.2% | |
| Q3 2023 | -7.6% | +13.3% | -1.0% | |
| Q2 2023 | +38.2% | +35.8% | +20.0% | |
| Q1 2023 | -5.4% | +5.5% | +173.1% | |
| Q4 2022 | -1.8% | +29.1% | -19.3% | |
| Q3 2022 | +6.5% | +12.9% | -34.7% | |
| Q2 2022 | +8.3% | +20.6% | -45.9% | |
| Q1 2022 | -1.0% | +11.5% | -42.0% | |
| Q4 2021 | -9.2% | -0.6% | -26.7% | |
| Q3 2021 | +6.4% | +12.6% | -0.2% | |
| Q2 2021 | -0.3% | -0.4% | +0.1% | |
| Q1 2021 | -0.1% | -0.3% | +0.3% |
Discussion
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