NASDAQ$RGTI
Rigetti Computing Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Rigetti Computing announced financial results for the second quarter ended June 30, 2023.
Rigetti Computing announced its financial results for the second quarter ended June 30, 2023, and provided business updates including the first QPU sale to a national lab and a collaboration agreement with ADIA Lab.
- Completed first QPU sale to a national lab.
- Signed a collaboration agreement with ADIA Lab.
- Ankaa-2 system is expected to be deployed and made available to external customers in the fourth quarter of 2023.
- Continuing to work to improve the Ankaa-1 system performance.
Headline financials
Revenue & EPS history
Rigetti · Revenue · Quarterly
$3.33M
Forward guidance
Rigetti is focused on achieving milestones, technological advancements, and developing practical applications.
Tailwinds
- Achieving milestones with respect to its technology roadmap.
- Obtaining government contracts successfully and in a timely manner.
- Expanding its QCaaS business.
- Success of the Company’s partnerships and collaborations.
- Accelerating its development of multiple generations of quantum processors.
Headwinds
- Ability to achieve target gate fidelities.
- Ability to scale to develop the Lyra 336-qubit system and develop practical applications on the anticipated timing or at all.
- Ability to develop a quantum computer that is able to solve a practical, operationally relevant problem significantly better, faster, or cheaper than a current classical solution and achieve narrow quantum advantage on the anticipated timing or at all.
- The Company’s estimates of expenses and profitability.
- Sufficiency of the Company’s cash resources.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+1.3%
Avg return
Earnings day
+5.4%
Avg return
5 days after
+10.6%
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 | +7.5% | -5.9% | +1.5% | |
| 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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