Earnings on tap for Rigetti, IonQ and D-Wave
Quantum earnings season is upon us, as Rigetti Computing, IonQ and D-Wave Quantum, Inc., all have quarterly earnings reports scheduled for release over the next week.
Rigetti will be first up today, Thursday, Aug. 11, followed by IonQ on Monday, Aug. 15. D-Wave announced this week after going public on Monday that its first quarterly earnings report will post on Tuesday, Aug. 16. Another public quantum firm, QCI, is expected to report at the end of August.
The consensus estimate for Rigetti for the second quarter is $2.67 million in revenue. Deutsche Bank began coverage of Rigetti earlier this week with a “buy” rating. Meawhile, IonQ said back in May that it expects between $2.3 million and $2.5 million in revenue for the second quarter.
On Wednesday, D-Wave completed its third full day of trading under the symbol QBTS, closing the day at $12.11 per share, about $1 shy of its highest price so far, but more than $1.50 above its introductory price. Most other quantum-related stocks, including QCI (symbol: QUBT), IonQ (symbol: IONQ) and Rigetti (symbol: RGTI) also moved upward Wednesday.
This performance, though based on a very small sample size, has surprised some market watchers. Unlike IonQ and Rigetti, both relatively new start-ups, D-Wave has been in business since 1999, and also is the only firm in the sector working on both annealing and gate-model quantum systems.
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Dan O’Shea has covered telecommunications and related topics including semiconductors, sensors, retail systems, digital payments and quantum computing/technology for over 25 years.