RGTI's strong growth potential and expanding presence in the quantum computing market make it a compelling investment despite market challenges.
Rigetti Computing improved its liquidity through equity offerings, securing $217.2M in cash and investments, and an additional $35M from Quanta Computer, reducing financial risk. Despite a revenue decline in 2024, Rigetti's development milestones, like the first academic sale of its Novera QPU, indicate progress and future potential. The company's strong liquidity position and non-cash liabilities lower its financial risk, but significant revenue growth is still years away.
Rigetti Computing burns cash, has a sky-high valuation at 150x forward sales, and faces relentless share dilution, making it an unattractive investment. The company's near-term prospects hinge on developing scalable quantum systems, but it struggles with revenue growth and financial stability. Despite a partnership with Quanta Computer, Rigetti's shrinking revenue base and likely need for another capital raise weaken its investment appeal.
Rigetti Computing, Inc. (RGTI) came out with a quarterly loss of $0.08 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.09 per share a year ago.
BERKELEY, Calif., March 05, 2025 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (Nasdaq: RGTI) (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, today announced its financial results for the fourth quarter and year ended December 31, 2024.
Rigetti Computing (RGTI 2.08%) stock has been on a tear in recent months. Six months ago, the stock was trading at a price of under $1.
Shares of Rigetti Computing (RGTI -8.98%) have taken quite a ride, down 61% from their 52-week high yet still up a spectacular 362% over the past year. In some ways, that extreme volatility mirrors the quantum systems the company aims to harness, where particles exist in multiple states, defined by superposition, entanglement, and intrinsic uncertainty.
Rigetti Computing (RGTI -8.98%), one of a group of high-flying quantum computing stocks, took a dive last month as a combination of news items and macroeconomic concerns weighed on the stock.
RGTI's fourth-quarter 2024 performance is expected to have benefited from advancements in quantum computing technology and expanded global partnerships.
Major technological breakthroughs can, over time, create trillions in shareholder value. The late 2022 release of OpenAI's ChatGPT is a great example of this phenomenon, as it set off a massive wave of interest in (and investment in) generative artificial intelligence (AI).