Slide 1: Corporate Presentation May 2022
Corporate Presentation May 2022 Exhibit 99.1
Slide 2: Cautionary Notes: Forward Looking Statements
Cautionary Notes Forward Looking Statements - Certain statements in this presentation may be considered forward-looking statements, including statements with respect to the Company’s outlook and expectations relating to the Company’s technology roadmap and the timing and performance thereof; expecta
Slide 3: Use of Non-GAAP Financial Metrics and Other Key Financial Metrics
Use of Non-GAAP Financial Metrics and Other Key Financial Metrics – To supplement Rigetti’s financial results and guidance presented in accordance with U.S. generally accepted accounting principles (GAAP), the Company uses certain non-GAAP financial measures in this presentation. In particular, the
Slide 4: Mission: Build the world's most powerful computers
Mission: Build the world’s most powerful computers to help solve humanity’s most important and pressing problems.
Slide 5: Investment Highlights
Investment Highlights World-changing potential Cutting-edge technology Top-tier partners Pioneering leadership Pioneers and Innovators in Quantum Rigetti Computing
Slide 6: World-changing Potential
World-changing Potential: Over the next decade, we believe one quantum computer has the potential to be more powerful than the entire current global cloud.
Slide 7: Qubits vs classical bits: computing power scaling
Computing power scales linearly with each additional bit Quantum Bits (Qubits) Both 0 and 1 at the same time Classical Bits (Binary) Either 0 or 1 Computing power doubles with each additional qubit Harnessing nature’s operating system unlocks opportunity for exponential computational power Solves pr
Slide 8: Moore's Law and classical processor performance
“Moore’s Law has finished.” - Jensen Huang, 2019 CEO, NVIDIA “Moore’s Law is dead. Moore’s Law is over.” - Mike Muller, 2018 CTO, ARM RISC 2x / 1.5 yrs (52% / yr) CISC 2x / 2.5 yrs (22% / yr) End of Dennard scaling Multicore 2x / 3.5 yrs (23% / yr) Amdahl’s Law 2x / 6 yrs (12% / yr) Processor perfor
Slide 9: Solving today's challenges requires the computational power of tomorrow
Solving today’s challenges requires the computational power of tomorrow.
Slide 10: Potential applications of quantum computing
Climate Simulation Computational Fluid Dynamics Computer Vision Cybersecurity Energy Distribution Hypersonic Simulation Artificial Intelligence In-silico Drug Discovery Investment Risk Mitigation Portfolio Optimization Supply Chain Optimization Potential to unlock solutions to the most pressing and
Slide 11: Large untapped opportunity for quantum computers
Large untapped opportunity for quantum computers that meet requirements for practical workloads 1 Langione et al., "Where Will Quantum computers Create Value - and When?" Boston Consulting Group, May 2019. 2 Hazan et al., "The Next Tech Revolution: Quantum Computing." McKinsey & Company, March 2020.
Slide 12: Cutting-edge Technology
Cutting-edge Technology: We utilize a full-stack strategy, proprietary chip architecture, and a leading quantum modality - superconducting.
Slide 13: Rigetti Quantum Cloud Services: quantum in the fabric of the cloud
Jupyter Qiskit Cirq APIs & SDKs PyQuil Rigetti hybrid co-processing1,2 Rigetti quantum computing systems Partner Quantum Services Partner HPC Partner Cloud Services Customer Hybrid Cloud Rigetti Quantum Cloud Services (QCS™) Weaving quantum into the fabric of the cloud 1 Smith, Robert S., et al. “A
Slide 14: World's first dedicated quantum fab
World’s first dedicated quantum fab Foundation of cutting-edge R&D infrastructure Provides: Means of quantum chip innovation and production Critical advantages in cycle time, testing infrastructure, and supply chain Attractive value proposition for partnering with academic and government institution
Slide 15: The quantum chip as the fountainhead of industry progress
We view the quantum chip as the fountainhead of industry progress and innovation.
Slide 16: Scale: proprietary modular chip architecture
Scale: proprietary modular chip architecture eliminates key scaling roadblocks Typical Quantum Chip Proprietary Quantum Chip Single-chip processors Large-scale processors built from identical tiles Entire re-design with each generation Component yield requirements increase exponentially with qubit c
Slide 17: Speed: CLOPS performance
Speed: Rigetti demonstrates fast performance on CLOPS speed test CLOPS1, or circuit layer operations per second, characterizes quantum processing speeds inclusive of gate speeds, reprogrammability, and co-processing capabilities, among other factors. 1 CLOPS is calculated as M × K × S × D / time tak
Slide 18: Fidelity: gate fidelities as high as 99.5%
Fidelity: Rigetti gate fidelities as high as 99.5% Rigetti demonstrated two qubit gate fidelities as high as 99.5% and a median fidelity of 99.2%. 99.5% fidelities exceeds what is believed to be a key threshold for commercial quantum computing. Measurements were conducted internally on Rigetti’s 9-q
Slide 19: Roadmap progress drives value creation
Roadmap progress drives value creation Industry progress through breakthrough technical advances 2015 Rigetti 3Q 2018-2020 Rigetti 16Q 2021 Rigetti 80Q 2017-2018 Rigetti 4Q/8Q 2019-present Rigetti 32/40Q 2023 (expected) Rigetti 84Q 2023 (expected) Rigetti 336Q 2025 (expected) Rigetti 1,000+Q in or a
Slide 20: Robust IP portfolio: 145 patents and applications
1 Includes patents issued and pending - 53 US & 6 European patents have been granted; 86 patents are pending. Quantum computing systems, software & access Quantum processor hardware Algorithms & applications for problem solving Chip design & fabrication Robust IP portfolio: 145 patents and applicati
Slide 21: Top-tier Partners
Top-tier Partners: We work with renowned public and private organizations to work toward solving real-world problems with quantum.
Slide 22: Technical leadership recognized by partners and customers
Rigetti’s technical leadership is recognized for excellence by its partners and customers Collaborations accelerate the path to advantage: Rigetti is the lead industry partner of a US Quantum Information Research Center Superconducting Quantum Materials and Systems Center: One of five national DOE Q
Slide 23: Select life science partners
Select life science partners: Opportunity for breakthrough advances in life sciences Problem Developing treatments for leading causes of illness requires understanding the biochemical properties of potential therapies.1 Constraint Exact modeling of molecular and materials properties grows exponentia
Slide 24: Select financial application partners
Select financial application partners: Opportunity for faster financial market insights 1 “Goldman Sachs predicts quantum computing 5 years away from use in markets.” Financial Times, 29 Apr. 2021. 2 Giurgica-Tiron, Tudor, et al. “Low Depth Algorithms for Quantum Amplitude Estimation.” ArXiv:2012.03
Slide 25: Pioneering Leadership
Pioneering Leadership: Track record of reaching key industry milestones first through innovation and collaboration.
Slide 26: Company milestones timeline
2022 Commercial availability of Aspen-M 80-qubit system, the largest quantum computer on AWS 2019 32-qubit system developed and launched on Amazon Web Services 2013 Rigetti & Co, Inc. founded by Chad Rigetti, PhD as the first universal pure-play quantum computing company 2015 Established facility in
Slide 27: Annual and Quarterly Financial Highlights
Annual and Quarterly Financial Highlights Fiscal Year 20211 Item FY21 FY20 Revenue $8.2M $5.5M Gross Margin 80% 73% GAAP Operating Loss ($34.1M) ($35.1M) Net Loss2 ($38.2M) ($26.1M) Adjusted EBITDA3 ($27.5M) ($27.5M) EPS (basic & diluted) ($1.74) ($1.26) 1 11 months ended December 31st, fiscal year-
Slide 28: Investment Highlights
Investment Highlights World-changing potential Cutting-edge technology Top-tier partners Pioneering leadership Pioneers and Innovators in Quantum Rigetti Computing
Slide 29: Rigetti
rigetti
Slide 30: Reconciliation of Net Loss to Adjusted EBITDA (FY2021)
Rigetti Computing, Inc. Reconciliation of Net Loss to Adjusted EBITDA (Millions) 11 Months Ended Year Ended December 31, January 31, 2021 (fiscal year 2021) 2021 (fiscal year 2020) Net loss $ (38.2) $ (26.1) Excluding: Depreciation 4.7 4.3 Stock compensation 1.8 2.6 Interest expense (net) 2.5 (0.01)
Slide 31: Reconciliation of Net Loss to Adjusted EBITDA (Q1 2022)
Rigetti Computing, Inc. Reconciliation of Net Loss to Adjusted EBITDA (Millions) 3 Months Ended 3 Months Ended March 31, March 31, 2022 2021 Net loss $ (10.5) $ (7.8) Excluding: Depreciation 1.4 1.1 Stock compensation 11.5 0.6 Interest expense (net) 1.2 0.1 Change in fair value of derivative warrant