Rigetti Computing is set to report its first-quarter results amidst a 25% surge in share price attributed to the successful launch of its Ankaa-3 quantum processor, which achieves impressive fidelity rates and under 75-nanosecond gate times. However, the focus will also be on the pending regulatory approval of its strategic partnership with Quanta Computer, crucial for securing further funding. With $106 million in cash expected to last about a year at current burn rates, future growth hinges on revenue generation from commercial quantum processing units and customer traction.
Wall Street wants clarity on the status of Rigetti's strategic partnership with Quanta Computer, which includes a $35 million PIPE investment and a $250 million co-investment roadmap.
Consensus estimates call for $4.1 million in Q1 revenue, highlighting Rigetti's dependence on government R&D contracts and the importance of commercial sales in its future trajectory.
Collection
[
|
...
]