$Rigetti Computing (RGTI.US)$$D-Wave Quantum (QBTS.US)$$IonQ...
D-Wave:
- Qubit Count:
- Current System: 5,000-qubit Advantage™ quantum computer.
- Development: Calibrated a 4,400-qubit Advantage2 prototype; aiming for over 7,000 qubits in future systems.
- Financial Position:
- Q3 2024 Revenue: $1.87 million, a decrease of 27% year-over-year.
- Net Loss: $15.8 million for Q3 2023.
- Cash Position: While specific cash reserves for Q3 2024 are not directly mentioned, D-Wave had nearly $30 million in cash subsequent to the end of Q3 2024 after paying off a $50 million secured-term loan.
- Runway: With the cash position of nearly $30 million post-Q3 and given the net loss trend, the runway could be relatively short unless significant revenue increases or additional funding is secured.
- Qubit Count:
- Current System: 5,000-qubit Advantage™ quantum computer.
- Development: Calibrated a 4,400-qubit Advantage2 prototype; aiming for over 7,000 qubits in future systems.
- Financial Position:
- Q3 2024 Revenue: $1.87 million, a decrease of 27% year-over-year.
- Net Loss: $15.8 million for Q3 2023.
- Cash Position: While specific cash reserves for Q3 2024 are not directly mentioned, D-Wave had nearly $30 million in cash subsequent to the end of Q3 2024 after paying off a $50 million secured-term loan.
- Runway: With the cash position of nearly $30 million post-Q3 and given the net loss trend, the runway could be relatively short unless significant revenue increases or additional funding is secured.
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PALO ALTO, Calif. – Dec. 12, 2024 -- D-Wave Quantum Inc. (NYSE: QBTS) (“D-Wave” or the “Company”), a leader in quantum computing systems, software, and services, and the world’s first commercial supplier of quantum computers, today announced that it has successfully completed sales of $175 million in gross proceeds of its common stock pursuant to its previously disclosed $100 million and $75 million "at-the-market" equity offering programs
IonQ:
- Qubit Count:
- Current System: 32-qubit system with high gate fidelity.
- Development: Achieved 29 algorithmic qubits on the IonQ Forte system.
- Financial Position:
- Q3 2024 Revenue: $12.4 million, up 102.1% year-over-year.
- Net Loss: Not specified in the available data, but Q3 2023 net loss was $44.8 million.
- Cash Position: IonQ had $434.4 million in cash, cash equivalents, and investments as of March 31, 2024 (Q1 2024).
- Runway: Given the substantial cash reserves and the growth in revenue, IonQ likely has a longer runway, potentially extending well beyond the immediate future without the need for additional capital.
Rigetti:
- Qubit Count:
- Current System: 84-qubit Ankaa-1 system launched internally; plans for external launch later in the year.
- Development: Announced plans for a 36-qubit system in mid-2025 based on current development updates.
- Financial Position:
- Q3 2024 Revenue: $2.378 million, down 23.4% year-over-year.
- Net Loss: Not specified in the available data, but Q3 2023 net loss was $22.2 million.
- Cash Position: Rigetti had $102.8 million in cash, cash equivalents, and available-for-sale securities at the end of Q1 2024.
- Runway: With the cash position at the end of Q1 2024 and considering ongoing losses, Rigetti's runway might be around 1 to 2 years, assuming no significant changes in cash burn rate or additional capital infusion.
Please note, the cash position data mentioned here are from earlier quarters for IonQ and Rigetti, as specific Q3 2024 data for cash reserves was not provided. For the most current and precise financial details, including cash runway, it's recommended to consult the latest financial statements or investor updates from each company.
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