Rigetti Stock Slides After Mixed Q3 Earnings: EPS Beat, Revenues Miss

Core Insights - Rigetti Computing Inc. reported a mixed third-quarter earnings report, leading to a decline in its stock price [1] Financial Performance - The company reported quarterly losses of three cents per share, which was better than the analyst estimate of four cents [2] - Quarterly revenue was $1.94 million, missing the Street estimate of $2.17 million and down from $2.37 million in the same period last year [2] Technology Roadmap - Rigetti's CEO, Dr. Subodh Kulkarni, noted strong momentum in demand for on-premises quantum computers and collaborations to advance R&D and the quantum ecosystem [3] - The company is on track to deliver a 100+ qubit chiplet-based quantum system with an anticipated 99.5% median two-qubit gate fidelity by the end of 2025 [4] - Rigetti expects to deploy a 150+ qubit system by the end of 2026 with an anticipated 99.7% median two-qubit gate fidelity, and a 1,000+ qubit system by the end of 2027 with an anticipated 99.8% median two-qubit gate fidelity [5]