Rigetti Computing Inc. ( (RGTI) ) has released its Q4 earnings. Here is a breakdown of the information Rigetti Computing Inc. presented to its investors.
Rigetti Computing Inc., a leader in full-stack quantum computing, offers cloud-based quantum computing services and on-premises systems, focusing on superconducting quantum technology. In its latest earnings report, Rigetti announced a net loss of $153 million for the fourth quarter of 2024, largely due to non-cash charges, with annual revenues totaling $10.8 million. Despite the financial losses, the company has secured $217.2 million in cash and equivalents, partly from a significant equity offering. Rigetti has entered a strategic collaboration with Quanta Computer, aiming to invest over $100 million each in advancing superconducting quantum computing. Additionally, Rigetti launched its 84-qubit Ankaa-3 system, achieving significant fidelity milestones, and sold a Novera QPU to Montana State University, marking its first academic sale. Looking ahead, Rigetti remains optimistic about scaling its quantum systems and enhancing performance, supported by strategic partnerships and technological advancements.