Latest news with #Cepheus-1-36Q
Business Insider
a day ago
- Business
- Business Insider
Is Rigetti Stock (RGTI) a Smart Buy After Q2 Losses?
Rigetti Computing (RGTI) may have posted a wider loss in its Q2 results, but that hasn't shaken Wall Street's confidence. Notably, top analysts have raised their price targets on RGTI stock, while several others have reaffirmed their Buy ratings. Year-to-date, RGTI stock has gained over 8%. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. RGTI Q2 Recap For context, Rigetti's revenue fell 41.6% from last year, coming in just under the expected $1.87 million. The company also posted a loss of $0.13 per share, which was bigger than last year's $0.07 loss and worse than Wall Street's forecast of a $0.05 loss. Benchmark Raises Price Target on RGTI Five-star-rated analyst David Williams at Benchmark raised his price target on RGTI from $14 to $20, implying an upside of 16% from current levels. Williams remains optimistic about Rigetti's latest progress, including the scheduled launch of its 100-qubit multi-chiplet QPU and the recently released Cepheus-1 system. He said these milestones bring the company closer to building a 1,000+ qubit system with 99.9% fidelity. Management still aims to reach this goal within three to four years. For context, Rigetti has launched its multi-chip quantum computer, Cepheus-1-36Q, for general use. Made from four chiplets, it delivers a 99.5% median two-qubit gate fidelity, cutting error rates in half compared to its earlier system. In quantum computing, a qubit is the basic unit of information. Having more qubits with low error rates helps quantum computers solve problems beyond the reach of today's supercomputers. Williams also highlighted Rigetti's strengthened balance sheet, with $350 million raised during the period, bringing total cash to $570 million. He considers this more than enough to fund ongoing development until the company reaches commercialization. Other Analysts Weigh In on RGTI Stock Similarly, Cantor Fitzgerald's top-rated analyst, Troy Jensen, lifted his price target from $15 to $18 on RGTI with a Buy rating. Meanwhile, five-star-rated analyst Quinn Bolton at Needham maintained his Buy rating. Bolton praised the company's strong progress in quantum computing. He noted that, while quantum advantage is still about four years away, Rigetti remains on track with its roadmap, boosting confidence in its long-term growth. What Is the Target Price for RGTI Stock? According to TipRanks, RGTI stock has received a Strong Buy consensus rating, with seven Buys and one Hold assigned in the last three months. The average price target for Rigetti Computing is $18.71, suggesting a potential upside of 13.5% from the current level.
Yahoo
4 days ago
- Business
- Yahoo
Rigetti Computing unveils 36-qubit system on cloud platforms
Rigetti Computing, a US-based firm specialising in quantum technology, has announced the general availability of its 36-qubit multi-chip system, Cepheus-1-36Q. The system is now accessible on Rigetti Quantum Cloud Services (QCS) and will soon be available on Microsoft Azure. According to Rigetti, this machine features the largest number of chiplets ever integrated into a quantum computer, leveraging four separate chips. The Cepheus-1-36Q system is claimed to deliver a 2x reduction in two-qubit gate error rate compared to its predecessor, the Ankaa-3 system. It achieves a median two-qubit gate fidelity of 99.5%. Key enhancements in the new system include a proprietary chiplet-based architecture that replaces monolithic chips. This approach yields better chip uniformity and performance through reduced manufacturing complexity and improved fabrication yield. Rigetti stated that optimised two-qubit gates contribute to faster gate times while reducing coherent errors, enhancing overall fidelity which is critical for executing quantum error correction. The company said that these technological improvements have facilitated its goal of introducing a 100+ qubit system by the end of 2025 with similar fidelity metrics. Rigetti CEO Subodh Kulkarni said: 'It's our view that superconducting qubits are the leading modality for quantum computers due to their ability to scale, and their ability to achieve gate speeds more than 1,000 times faster than other modalities like ion traps and pure atoms. 'Rigetti's superconducting qubits leverage technologies, like chiplets, that have been maturing in the semiconductor industry for decades, enabling Rigetti to use well-established methods to scale to higher performance and qubit counts.' Last month, Rigetti announced it had reached its mid-year performance milestone of 99.5% median two-qubit gate fidelity with its modular 36-qubit system, doubling the error reduction seen in their previous single-chip Ankaa-3 system. This 36-qubit setup comprises four 9-qubit chiplets and represents an essential step towards the company's larger objectives. Financially, Rigetti reported a net loss of $39.7m for the second quarter ending 30 June 2025, with total revenues reaching $1.8m for the same period. "Rigetti Computing unveils 36-qubit system on cloud platforms" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
4 days ago
- Business
- Yahoo
RGTI Stock Down Despite Q2 Earnings Top Estimates, Revenues Decline Y/Y
Rigetti Computing RGTI reported second-quarter 2025 adjusted loss per share of 5 cents, narrower than the loss per share of 7 cents in the prior-year quarter. The metric also surpassed the Zacks Consensus Estimate of earnings by 16.7%. GAAP loss per share in the reported quarter was 13 cents compared with the loss per share of 7 cents in the prior-year quarter. Shares of this company lost nearly 2.6% in today's pre-market hours. The company's shares have gained 3% in the year-to-date period compared with the industry's growth of 20.5%. The broader S&P 500 Index has increased 8.2% in the same time frame. Image Source: Zacks Investment Research Rigetti's Revenue Details The company reported total revenues of $1.8 million, down 41.6% year over year. The top line missed the Zacks Consensus Estimate by 5.7%. Per management, on a year-over-year basis, quarterly revenue was impacted by the expiration of the U.S. National Quantum Initiative and the pending reauthorization in the U.S. Congress. The renewal of this initiative, along with sales to the United States and international government entities and contributions from Novera, will be critical to driving future growth. RGTI's Technology Updates Per the company's second-quarter earnings release, Rigetti has launched its Cepheus-1-36Q, the industry's largest multi-chip quantum computer, for general availability on the Rigetti Quantum Cloud Services platform, with availability on Microsoft Azure to follow. The system delivers a median two-qubit gate fidelity of 99.5%, reflecting a two-fold reduction in two-qubit gate error rates compared to the prior Ankaa-3 system. With four chiplets, Cepheus-1-36Q contains the highest number of chiplets in any quantum computer to date, reinforcing Rigetti's chiplet-based scaling strategy. The Cepheus-1-36Q incorporates proprietary architecture that improves chip uniformity, reduces manufacturing complexity, and enhances fabrication yield. Optimized two-qubit gates enable faster operation while lowering coherent errors, and advancements in intermodule coupler design further boost performance. Rigetti, which introduced the world's first multi-chip quantum processor in 2021, plans to build on this platform with the release of a 100+ qubit chiplet-based system at 99.5% median two-qubit gate fidelity before the end of 2025. RGTI's Margin Trend In the quarter under review, RGTI's gross profit declined 71.6% year over year to $0.6 million. The gross margin significantly contracted 3310 basis points to 31.4%. Per management, the year-over-year decline in gross margin was impacted by revenue mix and pricing variability in development contracts, including those with the U.K.'s National Quantum Computing Centre for Quantum Systems, which carry lower margins compared to most other revenue streams. Selling, general and administrative expenses increased 11.6% year over year to $6.9 million. Research and development expenses increased 13.9% year over year to $13.5 million. Total operating expenses of $20.4 million increased 13.1% year over year. Operating loss for the quarter under review totaled $19.9 million compared with $16.1 million in the prior-year quarter. Rigetti Computing, Inc. Price, Consensus and EPS Surprise Rigetti Computing, Inc. price-consensus-eps-surprise-chart | Rigetti Computing, Inc. Quote RGTI's Financial Position RGTI exited the second quarter of 2025 with cash, cash equivalents and short-term available-for-sale investments of $425.7 million compared with $209.1 million at the end of the first quarter. The company ended the quarter with no debts on its balance sheet. Cumulative net cash used in operating activities at the end of the second quarter was $29.8 million compared with $26.7 million a year ago. Our Take RGTI exited second-quarter 2025 results on a mixed note, where its earnings surpassed the Zacks Consensus Estimate while revenues missed the same. Continued decline in revenues and gross margin does not bode well for the stock. Increased operating loss also seems a matter of concern. However, Rigetti continues to advance its technology roadmap, highlighted by the launch of its Cepheus-1-36Q, now available on its cloud platform and soon on Microsoft Azure. The system delivers significantly improved fidelity and reduced error rates over its predecessor, underscoring the strength of Rigetti's chiplet-based scaling strategy. Supporting these technological strides, the company maintains a solid financial position with a strengthened cash balance, no debt on its books, and disciplined operating cash flow management. Zacks Rank and Stocks to Consider RGTI carries a Zacks Rank #3 (Hold) at present. Some better-ranked stocks in the broader medical space that have announced quarterly results are Medpace Holdings, Inc. MEDP, West Pharmaceutical Services, Inc. WST and Boston Scientific Corporation BSX. Medpace Holdings, sporting a Zacks Rank of 1 (Strong Buy), reported second-quarter 2025 EPS of $3.10, beating the Zacks Consensus Estimate by 3.3%. Revenues of $603.3 million outpaced the consensus mark by 11.5%. You can see the complete list of today's Zacks #1 Rank stocks here. Medpace Holdings has a long-term estimated growth rate of 11.4%. MEDP's earnings surpassed estimates in each of the trailing four quarters, the average surprise being 13.9%. West Pharmaceutical reported second-quarter 2025 adjusted EPS of $1.84, beating the Zacks Consensus Estimate by 21.9%. Revenues of $766.5 million surpassed the Zacks Consensus Estimate by 5.4%. It currently flaunts a Zacks Rank #1. West Pharmaceutical has a long-term estimated growth rate of 8.5%. WST's earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.8%. Boston Scientific reported second-quarter 2025 adjusted EPS of 75 cents, beating the Zacks Consensus Estimate by 4.2%. Revenues of $5.06 billion surpassed the Zacks Consensus Estimate by 3.5%. It currently carries a Zacks Rank #2 (Buy). Boston Scientific has a long-term estimated growth rate of 14%. BSX's earnings surpassed estimates in each of the trailing four quarters, the average surprise being 8.1%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Boston Scientific Corporation (BSX) : Free Stock Analysis Report West Pharmaceutical Services, Inc. (WST) : Free Stock Analysis Report Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report Rigetti Computing, Inc. (RGTI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
