Rigetti shares fell 23.4% as cash burn and weak revenue weighed on outlook
Business · First reported 4 Nov, 14:33 · Updated 14:58
Rigetti Computing shares dropped 23.4% last month amid a broader retreat from quantum-computing stocks. The coverage points to low revenue, losses and cash burn, while warning that continued dilution and an uncertain path to commercial viability pose risks.
- Rigetti shares fell 23.4% last month and were reported as 80% below their highs.
- In the latest quarter, Rigetti reported $5 million in revenue and a $28 million operating loss; its trailing-12-month free cash flow was negative $88 million.
- The coverage links the decline to a wider pullback in quantum-computing stocks and cites concerns about cash use, dilution and commercial viability.
Summary written by Lux AI from 2 articles
Key facts
- Share-price change
- Down 23.4% last month; reported 80% below its highs.
- Latest-quarter revenue
- $5 million.
- Latest-quarter operating loss
- $28 million.
- Cash on balance sheet
- $366 million.
- Trailing-12-month free cash flow
- Negative $88 million.
- Shares outstanding
- Up 674% over five years, according to the reports.
Source spectrum
Left 0 · Centre 2 · Right 0 of 2 rated sources
Images from the coverage
Background
- An earlier Lux story compared D-Wave and Rigetti, describing revenue growth at D-Wave and a decline at Rigetti, losses at both, and risks and volatility for both companies. [e793e1b0-9153-406c-a586-98021e6f56ab]
- Another earlier Lux story’s headline previewed a prediction that Rigetti stock would sink after November 10; the supplied earlier-story record includes no further summary. [deefd47b-b391-4b97-bbf7-81953f3272cc]
All coverage
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Ownership
- Unknown 100% (2)
Share of the 2 sources by owner type.