Welcome to our dedicated page for Rigetti Computing news (Ticker: RGTI), a resource for investors and traders seeking the latest updates and insights on Rigetti Computing stock.
Rigetti Computing Inc (NASDAQ: RGTI) is a leader in full-stack quantum computing, combining superconducting qubit technology with hybrid quantum-classical systems. This dedicated news hub provides investors and industry professionals with essential updates on the company's technical advancements, financial developments, and strategic initiatives.
Access curated press releases and analysis covering quantum processor innovations, partnership announcements, and operational milestones. Our repository includes updates on Rigetti's proprietary manufacturing capabilities at Fab-1, quantum cloud service enhancements, and collaborative research breakthroughs.
Key content categories feature earnings reports, technology white papers, executive leadership updates, and industry conference participation. Bookmark this page for streamlined tracking of RGTI's progress in developing practical quantum computing solutions for enterprise and government applications.
Rigetti Computing showcased advancements in its quantum computing roadmap, achieving over 4,000 CLOPS1 speed performance, a 4.5x increase from previous results. The company has secured two contracts in the U.K. and launched its first U.K.-based quantum computer. Financially, Rigetti reported $2.1 million in Q2 revenue, up 39% year-over-year, but net GAAP loss was $10.0 million. A $75 million equity facility was established for enhanced liquidity. The fiscal year 2022 revenue forecast remains uncertain due to prolonged contract negotiations, potentially impacting future EBITDA losses.
Rigetti Computing has been awarded a contract by the Defense Advanced Research Projects Agency (DARPA) to develop benchmarks for quantum application performance, with a project value of up to $2.9 million over three years. Collaborating with University of Technology Sydney, Aalto University, and University of Southern California, Rigetti aims to enhance predictions of fault-tolerant quantum computers’ performance. This initiative is part of DARPA’s Quantum Benchmarking Program and highlights Rigetti's leadership in quantum computing technology.
Rigetti Computing (RGTI) has announced its plan to release second quarter 2022 financial results on August 11, 2022, after market close. The company will host a conference call at 5:00 p.m. ET to discuss these results and provide updates on business operations. Rigetti, a leader in hybrid quantum-classical computing, has been operating quantum computers via the cloud since 2017 and develops its chips in-house. The details of the call can be accessed via the provided links, allowing participants to engage in the discussion post-release.
Rigetti Computing (NASDAQ: RGTI) announced the appointment of Cathy McCarthy as the new Chairperson of the Board following the resignation of General Peter Pace. These changes will take effect on July 15, 2022. McCarthy, who has been a director since July 2021, brings extensive executive experience from various industries. General Pace expressed gratitude for his tenure, highlighting Rigetti's growth from private markets to a Nasdaq listing. The company specializes in hybrid quantum-classical computing and operates quantum computers via its cloud service.
Rigetti Computing, Inc. (NASDAQ: RGTI) is set to join the Russell 3000® Index effective June 27, 2022. This inclusion, praised by CEO Chad Rigetti, aligns with the company’s mission to advance quantum computing technology. The Russell 3000® Index represents the largest 3,000 publicly traded U.S. companies and is a benchmark for significant institutional equity assets. Rigetti's participation underscores its growing influence in the quantum computing sector as it integrates its quantum processors into cloud services.
Rigetti UK Limited has launched its first UK-based 32-qubit Aspen-series quantum computer, accessible via the cloud through Rigetti QCS™. This initiative is part of a consortium aiming to commercialize quantum computing in the UK, involving partners like Oxford Instruments and Standard Chartered Bank. The project is supported by funding from the UK government's Quantum Technologies Challenge. Rigetti UK also received two Innovate UK awards to enhance quantum error correction and application optimization.
Rigetti Computing (Nasdaq: RGTI) announced that founder and CEO Chad Rigetti will participate in a fireside chat at the 17th annual Needham Technology & Media Conference. The event is scheduled for May 19, 2022, from 11:45 a.m. to 12:25 p.m. ET. Investors can access a live webcast through the Investor Relations section of Rigetti's website, with a replay available for one year post-event.
Rigetti is a leader in quantum-classical computing, offering cloud-based quantum computing services since 2017.
Rigetti Computing, Inc. (Nasdaq: RGTI) announced its first-quarter 2022 financial results, revealing a revenue decline to $2.1 million from $2.4 million year-over-year, attributed mainly to a completed government project. Gross profit decreased to $1.7 million, with an 80.3% gross margin. Operating expenses surged to $25.5 million, significantly impacted by stock compensation costs. The net loss of $10.5 million equated to $0.20 per share. Rigetti anticipates total revenue for fiscal year 2022 to range between $12.0 million and $13.0 million and expects an Adjusted EBITDA loss of $50.0 million to $53.0 million.
Rigetti Computing, Inc. (RGTI) announced its first quarter 2022 financial results will be released on May 16, 2022, after market close. A conference call will follow at 5:00 p.m. ET for discussion on results and business updates. The call can be accessed via dial-in numbers or attended through a live audio webcast linked on their Investor Relations website. Rigetti is known for pioneering hybrid quantum-classical computing and has been operating quantum computers over the cloud since 2017, servicing various global clients.
Rigetti Computing (NASDAQ:RGTI) has appointed Eric Ostby as Vice President of Product, effective April 12, 2022. Ostby, previously at Google, will lead the development of Rigetti QCS™ to enhance the company’s Quantum Computing as a Service (QCaaS) offerings. His extensive background in product leadership is expected to boost Rigetti's market opportunities in both public and private sectors. Rigetti recently launched its 80-qubit Aspen-M quantum computer on QCS and Amazon Braket, now available in private preview on Microsoft Azure.
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