Rigetti Computing (NASDAQ:RGTI) Issues Earnings Results, Hits Expectations

Rigetti Computing (NASDAQ:RGTI) met its Q2 earnings expectations, reporting a loss of $0.05 per share and revenue of $5.14 million, exceeding estimates. The company saw a significant 185% year-over-year revenue increase driven by Novera quantum-processing-unit sales and improved gross margins. Despite increased operating expenses and a wider non-GAAP net loss, RGTI shares rose 8.5% post-results, with analysts maintaining a "Moderate Buy" rating and an average price target of $30.67.