RGTI Earnings Prediction
The chart below shows how RGTI performed 10 days before and after its earnings report, based on data from the past quarters. Typically, RGTI sees a +8.73% change in stock price 10 days leading up to the earnings, and a +3.24% change 10 days following the report. On the earnings day itself, the stock moves by +2.29%. This data can give you a slight idea of what to expect for the next quarter's release.
RGTI Key Earning Data
2024/Q4
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RGTI Earnings Analysis
Rigetti Computing Inc Corporation (RGTI.O) Earnings Conference Call
Positive
Strategic Quantum Computing Partnership: Rigetti entered into a strategic collaboration agreement with Quanta Computer, committing over $100 million each to accelerate superconducting quantum computing development.
Academic Partnership Milestone: Rigetti sold its first Novera QPU to Montana State University, marking a significant milestone in academic partnerships.
Quantum Computing Advancements: The launch of the 84-qubit Ankaa-3 system showcases major advancements in quantum computing technology, achieving significant fidelity milestones.
Modular Quantum Integration: Rigetti's modular approach allows for integration with partners, enhancing quantum computing capabilities and fostering collaboration within the ecosystem.
Quantum Computing Expansion: The company aims to scale to over 100 qubits by the end of the year, targeting a twofold reduction in error rates, reinforcing its leadership in superconducting quantum computing.
Negative
Revenue Decline Analysis: Revenues in Q4 2024 were $2.3 million, down from $3.4 million in Q4 2023, indicating a significant decline in sales.
Gross Margin Decline: Gross margins decreased to 44% in Q4 2024 from 75% in Q4 2023, primarily due to lower-margin revenue from a contract with the UK’s NQCC.
Increased Net Loss: Net loss for Q4 2024 was $153 million, or $0.68 per share, compared to a net loss of $12.6 million, or $0.09 per share, in Q4 2023, highlighting a substantial increase in losses.
Derivative Liabilities Impact: The non-cash change in the fair value of derivative warrant and earn out liabilities negatively impacted the net loss by $135.1 million in Q4 2024, contrasting with a favorable impact of $4.6 million in the prior year.
High Operating Expenses: Total operating expenses (OpEx) remained high at $19.5 million in Q4 2024, nearly unchanged from $19.7 million in the same period of the previous year, indicating persistent high costs despite lower revenues.
RGTI FAQs
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RGTI Earning Call Sentiment
Rigetti Computing, Inc. (NASDAQ:RGTI) Q4 2024 Earnings Call Transcript
RGTI.O
18.97%Positive
Despite strategic partnerships and cash reserves, Rigetti's declining revenue and gross margins, coupled with a significant net loss, present a negative outlook. The Q&A revealed uncertainties in government funding and unclear competitive processes. Revenue decline and a net loss due to non-cash liabilities further dampen sentiment. The market may react negatively, given the missed financial expectations and lack of immediate commercial sales focus.
