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 +5.47% change in stock price 10 days leading up to the earnings, and a +0.24% change 10 days following the report. On the earnings day itself, the stock moves by +2.06%. This data can give you a slight idea of what to expect for the next quarter's release.
RGTI Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
2.38M
-23.41%
-22.94%
Gross Margin
50.63%
-30.78%
-21.48%
Operating Margin
-729.44%
34.56%
39.95%
Net Margin
-623.76%
-12.82%
54.97%
EPS
-0.08
-52.94%
14.29%
No Data Available
RGTI Earnings Analysis
Rigetti Computing, Inc. Common Stock Corporation (RGTI.O) Earnings Conference Call
Positive
New Modular System Architecture: We plan to introduce a new modular system architecture at Rigetti by mid-year 2025, expecting to release a 36-qubit system based on 49-qubit chips with a targeted 99.5% median 2-qubit gate fidelity.
Quantum System Development: By the end of 2025, we expect to release a system with over 100-qubits with a targeted 99.5% median 2-qubit gate fidelity.
Qubit System Development Goals: Rigetti remains on track to develop and deploy its anticipated 84-qubit Ankaa system with the goal of achieving a 99% plus median 2-qubit gate fidelity by the end of 2024.
ATM Program Fundraising: We have raised $12 million from the sale of 11.3 million common shares under our current ATM program.
Common Stock Availability: As of September 30, 2024, up to 60.2 million of common stock remains available for sale under our current ATM program.
Negative
Quarterly Revenue Comparison: Revenues in the third quarter of 2024 were $2.4 million compared to $3.1 million in the third quarter of 2023.
Gross Margin Decline: Gross margins in the third quarter of 2024 came in at 51% compared to 73% in the third quarter of 2023.
Operating Expenses Comparison: Total OpEx in the third quarter of 2024 was $18.6 million compared to $19.1 million in the same period of the prior year.
Quarterly Net Loss Comparison: Net loss for the third quarter of 2024 was $14.8 million or $0.08 per share compared to a net loss of $22.2 million or $0.17 per share for the third quarter of 2023.
Operating Expense Decrease: The year-over-year decrease in total OpEx was primarily driven by $1.1 million of expense recognized in the third quarter of 2023 for the Amperere Ford agreement, which expired in October 2023.
RGTI FAQs
How does RGTI typically perform around its earnings report dates?
Is Rigetti Computing, Inc. (RGTI) Q3 2024 Earnings Call Summary positive or negative?
How can historical earnings data help predict future stock performance?
RGTI Earning Call Sentiment
Rigetti Computing, Inc. (RGTI) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
RGTI.O
1.86%Positive
The earnings call presents mixed signals. Financial performance shows improvement in net loss but lacks strong revenue growth. Product development is promising with high fidelity qubit chips, though future funding depends on uncertain government actions. Market strategy shows confidence but lacks concrete details. Expenses are stable, and shareholder return plans are not mentioned. Q&A insights highlight government funding reliance and potential, but management's vague responses create uncertainty. Thus, the stock reaction is likely neutral, balancing positive tech progress with financial and strategic uncertainties.