Rigetti's New Orders and India MoU: Will They Boost Q3 Performance?

Core Insights - Rigetti Computing (RGTI) is transitioning from research and development to commercial execution, highlighted by $5.7 million in purchase orders for its Novera 9-qubit quantum systems and a partnership with India's C-DAC for hybrid quantum-classical systems [1][7] - The upcoming third-quarter results will be critical in assessing Rigetti's ability to convert these developments into revenue growth and technology scalability [1][7] Company Developments - Rigetti announced purchase orders totaling approximately $5.7 million for two Novera 9-qubit systems, one for an Asian technology manufacturer and the other for a California-based AI startup [1][7] - A Memorandum of Understanding (MOU) was signed with India's C-DAC to co-develop hybrid quantum-classical systems under the ChipIN initiative, indicating a strategic move into a government-backed market [1][7] Financial Performance - Rigetti's shares have increased by 121.3% year-to-date, significantly outperforming the industry growth of 7.9% [6] - The company has a price-to-book ratio of 19.79, which is above the industry average, and carries a Value Score of F [9] - The Zacks Consensus Estimate for Rigetti's 2025 earnings suggests a substantial 75% increase compared to the previous year [10] Earnings Estimates - The Zacks Consensus Estimates for Rigetti's upcoming quarters indicate a projected loss per share of -$0.05 for the current quarter and -$0.04 for the next quarter, with a year-over-year growth estimate of 37.5% for the current quarter [11]