Overview
- Rigetti fell roughly 9% in the latest session, extending a multi‑day decline after its third‑quarter report.
- Revenue came in at about $1.94 million, down year over year and below forecasts, and the company reported a significantly wider GAAP net loss.
- Management reaffirmed a hardware roadmap targeting a 100‑plus‑qubit chiplet‑based system by late 2025, a 150‑plus‑qubit system in 2026, and a 1,000‑plus‑qubit platform in 2027.
- The company said its cash and investments total around $600 million, providing at least a year of runway, with spending focused on research and system development and plans for an Italy subsidiary.
- Analysts offered mixed views—Craig‑Hallum stayed Buy, Benchmark trimmed its Buy target, and B. Riley remained Neutral—while Jim Cramer advised investors to sell half their position.