NASDAQ$RGTI
Rigetti Computing Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Rigetti reported financial results for Q3 2024 and provided business updates.
Rigetti Computing's total revenues for Q3 2024 were $2.4 million. The company's operating loss was $17.3 million and net loss was $14.8 million. As of September 30, 2024, cash, cash equivalents and available-for-sale securities totaled $92.6 million.
- Total revenues for Q3 2024 were $2.4 million.
- Operating loss for Q3 2024 was $17.3 million.
- Net loss for Q3 2024 was $14.8 million.
- Cash, cash equivalents and available-for-sale securities totaled $92.6 million as of September 30, 2024.
Headline financials
Revenue & EPS history
Rigetti · Revenue · Quarterly
$2.38M
Forward guidance
Rigetti plans to introduce a new modular system architecture in 2025, with a 36-qubit system expected by mid-2025 and a system with over 100 qubits by the end of 2025. The company remains on track to develop and deploy its 84-qubit Ankaa™-3 system by the end of 2024.
Tailwinds
- Company plans to introduce a new modular system architecture in 2025.
- A 36-qubit system expected by mid-2025.
- A system with over 100 qubits expected by the end of 2025.
- Remains on track to develop and deploy its 84-qubit Ankaa™-3 system by the end of 2024.
- Demonstrated tiling of 9-qubit chips without deterioration in performance in Q3.
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 Q3 2024
+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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