Rigetti Computing Inc

NASDAQ:RGTIUnited States

Nine Months Ended September 30, --------------------------------------- 2024 2023 ----------------- ------------- Cash flows from operating activities: Net loss $ (48,027) $ (62,535) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 5,155 6,381 Stock-based compensation 9,705 8,727 Change in fair value of earn-out liabilities (514) 2,362 Change in fair value of derivative warrant liabilities (717) 4,320 Change in fair value of forward contract -- 2,229 Impairment of deferred offering costs -- 836 Accretion of available-for-sale securities (2,752) (2,310) Amortization of debt issuance costs, commitment fees and accretion of debt end-of-term liabilities 741 1,100 Non-cash lease expense 1,533 1,288 Changes in operating assets and liabilities: Accounts receivable (1,355) 3,239 Prepaid expenses, other current assets and other assets (1,955) (1,027) Deferred revenue 543 (489) Accounts payable (808) (212) Accrued expenses and operating lease liabilities (3,632) (2,067) ------------- ------------ Net cash used in operating activities (42,083) (38,158) ------------- ------------ Cash flows from investing activities: Purchases of property and equipment (9,816) (7,511) Purchases of available-for-sale securities (98,451) (79,047) Maturities of available-for-sale securities 107,499 98,082 ------------- ------------ Net cash (used in) provided by investing activities (768) 11,524 ------------- ------------ Cash flows from financing activities: Payments of principal of notes payable (9,491) (5,405) Proceeds from sale of common stock from sales through Common Stock Purchase Agreement 12,838 15,051 Proceeds from sale of common stock from sales through At-The-Market (ATM) Offering 38,831 -- Payments of offering costs (476) (107) Proceeds from issuance of common stock upon exercise of stock options and warrants 83 1,002 ------------- ------------ Net cash provided by financing activities 41,785 10,541 ------------- ------------ Effects of exchange rate changes on cash and cash equivalents (40) (38) Net decrease in cash and cash equivalents (1,106) (16,131) Cash and cash equivalents -- beginning of period 21,392 57,888 ------------- ------------ Cash and cash equivalents -- end of period $ 20,286 $ 41,757 ============= ============ Supplemental disclosures of other cash flow information: Cash paid for interest $ 2,057 $ 3,299 Non-cash investing and financing activities: Capitalization of deferred costs to equity upon share issuance 190 13 Purchases of property and equipment recorded in accounts payable 252 394 Purchases of property and equipment recorded in accrued expenses 76 605 Non-cash addition to operating lease right-of-use assets and lease liability 2,268 -- Unrealized Gain on short term investments 54 273

Rigetti and Riverlane Progress Towards Fault Tolerant Quantum Computing with Real-Time and Low Latency Error Correction on Rigetti QPU

By integrating Riverlane's quantum error decoder into the control system of Rigetti's 84-qubit Ankaa(TM)-2 system, the team was able to demonstrate real-time, low latency quantum error correction, a critical process for developing fault tolerant quantum computers