Rigetti Stock Pulls Back After Q2 Revenues Miss the Mark

Benzinga Earnings08-07

Rigetti Computing Inc. (NASDAQ:RGTI) posted its second-quarter results after Thursday’s closing bell, missing analysts’ revenue estimates. Here’s a look at the details inside the report.

RGTI stock is moving. Watch the price action here.

Rigetti Q2 Details

Rigetti reported quarterly losses of five cents per share, in line with the analyst consensus estimate, according to Benzinga Pro data.

Quarterly revenue came in at $5.1 million, which missed the Street estimate of $5.15 million.

“In the second quarter, we continued to execute on our strategy by focusing on our system performance, progressing our core technology roadmap and broadening on-premises system deployments,” said Dr. Subodh Kulkarni, CEO of Rigetti.

“We are seeing broadening engagement across government, academic and commercial customers, and we believe our open modular approach, superconducting gate-based architecture, and chiplet-based scaling strategy continue to differentiate Rigetti in the market,” Kulkarni added.

Read Also: Sandisk Stock Slides Despite Q4 Earnings Beat — Details

RGTI Stock Price Activity: According to data from Benzinga Pro, Rigetti stock was down 4.6% to $15.77 in Thursday’s extended trading.

Photo: Shutterstock

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(NASDAQ:RGTI) posted its second-quarter results after Thursday’s closing bell, missing analysts’ revenue estimates. Here’s a look at the details inside the report. \n\nRGTI stock is moving. Watch the price action here.\n\nRigetti Q2 Details       \nRigetti reported quarterly losses of five cents per share, in line with the analyst consensus estimate, according to Benzinga Pro data.\nQuarterly revenue came in at $5.1 million, which missed the Street estimate of $5.15 million.\n“In the second quarter, we continued to execute on our strategy by focusing on our system performance, progressing our core technology roadmap and broadening on-premises system deployments,” said Dr. Subodh Kulkarni, CEO of Rigetti.\n“We are seeing broadening engagement across government, academic and commercial customers, and we believe our open modular approach, superconducting gate-based architecture, and chiplet-based scaling strategy continue to differentiate Rigetti in the market,” Kulkarni added.\n\n\n\nRead Also:\n\nSandisk Stock Slides Despite Q4 Earnings Beat — Details\n\n\n\nRGTI Stock Price Activity: According to data from Benzinga Pro, Rigetti stock was down 4.6% to $15.77 in Thursday’s extended trading.  \nPhoto: Shutterstock","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"express","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.47.1","shortVersion":"4.47.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2657770668","isCrawlerRequest":true}