Rigetti Computing Inc. (NASDAQ:RGTI) shares fell after the company released a mixed third-quarter earnings report after Monday's closing bell.
Here's a look at the details in the report.
- RGTI stock is moving. Watch the price action here.
The Details: Rigetti Computing reported quarterly losses of three cents per share, which beat the analyst estimate for losses of four cents.
Quarterly revenue came in at $1.94 million, which missed the Street estimate of $2.17 million and was down from revenue of $2.37 million the same period last year.
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Rigetti provided the following 2026-2027 technology roadmap updates:
- Rigetti expects to deploy a 150+ qubit system by or around the end of 2026 with an anticipated 99.7% median two-qubit gate fidelity.
- Rigetti expects to deploy a 1,000+ qubit system by or around the end of 2027 with an anticipated 99.8% median two-qubit gate fidelity.
“This past quarter, we saw strong momentum with both the demand for our on-premises quantum computers and the development of collaborations to advance our own R&D and the quantum ecosystem more broadly,” said Dr. Subodh Kulkarni, Rigetti CEO.
“On the technology front, we remain on track to deliver our 100+ qubit chiplet-based quantum system with an anticipated 99.5% median two-qubit gate fidelity by the end of 2025,” Dr. Kulkarni added.
RGTI Stock Price: According to data from Benzinga Pro, Rigetti Computing stock was down 2.57% at $32.23 in Monday’s extended trading.
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