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- Rigetti Computing (NASDAQ:RGTI) shares fell 6% in extended trading on Monday after the quantum computing maker reported first-quarter results.
- For the period ending March 31, Rigetti said it had $22.1M in operating expenses for the period, as revenue came in at $1.47M. Analysts had expected $2.56M in revenue.
- “Rigetti is proud to be awarded important government-funded projects in the U.S. and U.K. to advance our technology, which demonstrates our continued leadership in superconducting quantum computing,” says Rigetti CEO Dr. Subodh Kulkarni in a statement. “We also are making great strides in developing innovative approaches to scaling to higher qubit count systems, which is possible due to our open and modular system architecture, in-house full-stack expertise, and world-class partners.”
- The company will host a conference call at 5 p.m. EST to discuss the results.