Slide 1: Corporate Presentation August 2022
Exhibit 99.1 Corporate Presentation August 2022
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 includin
Slide 3: Cautionary Notes: Use of Non-GAAP Financial Metrics
Cautionary Notes 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 p
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. 4
Slide 5: Pioneers and Innovators in Quantum: Investment Highlights
Pioneers and Innovators in Quantum Rigetti Computing Investment Highlights ✔ World-changing potential ✔ Cutting-edge technology ✔ Top-tier partners ✔ Pioneering leadership 5
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. 6
Slide 7: Harnessing nature's operating system unlocks exponential computational power
Harnessing nature’s operating system unlocks opportunity for exponential computational power Classical Bits Quantum Bits (Binary) (Qubits) Either 0 or 1 Both 0 and 1 at the same time Computing power doubles with Computing power scales linearly each additional qubit with each additional bit Solves pr
Slide 8: Quantum is the next frontier in computational power
We believe quantum is the next frontier in computational power Performance of classical processors since 1980 Diminishing returns Amdahl’s “Moore’s Law has finished.” Law 2x / 20 yrs End of - Jensen Huang, 2019 (3% / yr) CEO, NVIDIA Dennard 2x / 6 yrs scaling (12% / yr) Multicore 2x / 3.5 yrs (23% /
Slide 9: Solving today's challenges requires the computational power of tomorrow
Solving today’s challenges requires the computational power of tomorrow. Copyright Rigetti Computing 2022 9
Slide 10: Potential to unlock solutions to pressing problems
Computer Vision Potential to Computational Fluid Dynamics Hypersonic Simulation unlock solutions to the most In-silico Drug Discovery Artificial Intelligence pressing and important problems while creating Climate Simulation Portfolio Optimization unimagined opportunities Cybersecurity Supply Chain Op
Slide 11: Large untapped opportunity for practical quantum computers
Large untapped opportunity for quantum computers that meet requirements for practical workloads Requirements for practical workloads Scale: >1,000 qubits Error Rates: < 0.5% Clock Speed: >1 MHz Fully Programmable & Universal (run general quantum algorithms) Manufacturable Co-processor (can be used a
Slide 12: Pioneers in Hybrid Computing
Pioneers in Hybrid Computing We believe the most powerful computers of tomorrow will leverage quantum processors as accelerators, in a hybrid quantum-classical computing architecture. 12
Slide 13: Rigetti Quantum Cloud Services (QCS)
Rigetti Quantum Cloud Services (QCS™) Weaving quantum into the fabric of the cloud Enterprise Government Startups Academia Cirq Qiskit PyQuil Jupyter APIs & SDKs Partner Cloud Customer Hybrid Services Cloud Partner Quantum Partner HPC Services 1,2 Rigetti hybrid co-processing Rigetti quantum computi
Slide 14: Cutting-edge Technology
Cutting-edge Technology: We utilize a full-stack strategy, proprietary chip architecture, and a leading quantum modality - superconducting. 14
Slide 15: 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 academia and government 15
Slide 16: Pioneering Leadership
Pioneering Leadership: Track record of reaching key industry milestones first through rapid innovation and focused partnerships. 16
Slide 17: Roadmap progress drives value creation
Roadmap progress drives value creation Rigetti’s Fab-1 32-qubit system Commercial availability of Aspen-M Patented hybrid commissioned as first launched on Amazon 80-qubit system, the largest quantum-classical dedicated quantum chip Web Services quantum computer on AWS co-processor architecture fabri
Slide 18: Key expected milestones for 2023 & beyond
Key expected milestones for 2023 & beyond* Late 2023 Late 2025 In or After 2027 2023 84 qubits 336 qubits 1000+ qubits 4000+ qubits Single chip Multi-chip Multi-chip Multi-chip Expected to introduce next-gen Expected to leverage 84Q single-chip Expected to scale high-performance, multi-chip chip des
Slide 19: The quantum chip as the fountainhead of industry progress
We view the quantum chip as the fountainhead of industry progress and innovation. Copyright Rigetti Computing 2022 19
Slide 20: 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 ● Modular, manufacturable, & scalable ● Entire re-design with each generation ● World’s first multi-chi
Slide 21: Fidelity: gate fidelities as high as 99.5%
Fidelity: Rigetti gate fidelities as high as 99.5% ● In February 2022, Rigetti demonstrated two qubit gate fidelities as high as 99.5% and a median fidelity of 99.2%. ● 99.5% fidelities exceed what is believed to be a key threshold for commercial quantum computing. ● Measurements were conducted internal
Slide 22: Speed: Achieved 4.5x increase on CLOPS since February
1 Speed: Achieved 4.5x increase on CLOPs since February 2 1 CLOPS , 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 taken wh
Slide 23: Robust IP portfolio: patents and applications
Robust IP portfolio: 152 patents and applications Quantum computing systems, software & access 1 Rigetti IP Portfolio Areas: Algorithms & applications for problem solving Quantum processor hardware Chip design & fabrication 1 Includes patents issued and pending - 55 US & 6 European patents have been
Slide 24: Top-Tier Customers and Partners
Top-Tier Customers and Partners: We work with renowned public and private organizations in pursuit of solving high-impact, real-world problems with quantum. 24
Slide 25: Technical leadership recognized by partners and customers
Rigetti’s technical leadership is recognized for excellence by its partners and customers Rigetti is the lead industry partner of a US Quantum Information Research Center Superconducting Quantum Materials and Systems Center: ● One of five national DOE QIS Research Centers ● Five-year, $115M effort ● 2
Slide 26: Opportunity for breakthrough advances in life sciences
Opportunity for breakthrough advances in life sciences Select life science partners: Problem Developing treatments for leading causes of illness requires understanding the biochemical properties of potential 1 therapies. Constraint Exact modeling of molecular and materials properties grows exponenti
Slide 27: Opportunity for faster financial market insights
Opportunity for faster financial market insights Select financial application partners: Problem Optimizing investment positions and pricing decisions depends on accurate quantitative models that can swiftly respond to changing market conditions. Constraint Realistic models incorporating available data
Slide 28: Pioneers and Innovators in Quantum: Investment Highlights
Pioneers and Innovators in Quantum Rigetti Computing Investment Highlights ✔ World-changing potential ✔ Cutting-edge technology ✔ Top-tier partners ✔ Pioneering leadership 28
Slide 29: FY21 & 2Q22 Financial Highlights
FY21 & 2Q22 Financial Highlights 1 Fiscal Year 2021 Second Quarter 2022 Item FY21 FY20 Item 2Q22 2Q21 Revenue $8.2M $5.5M Revenue $2.1M $1.5M Gross Margin 80% 73% Gross Margin 59% 76% GAAP Operating Loss ($34.1M) ($35.1M) GAAP Operating Loss ($25.6M) ($9.7M) 2 Net Loss ($38.2M) ($26.1M) Net Loss ($1
Slide 30: Rigetti
rigetti
Slide 31: Reconciliation of Net Loss to Adjusted EBITDA (FY21)
Rigetti Computing, Inc. Reconciliation of Net Loss to Adjusted EBITDA 11 Months Ended Year Ended (Millions) 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) C
Slide 32: Reconciliation of Net Loss to Adjusted EBITDA (Q2 2022)
Rigetti Computing, Inc. Reconciliation of Net Loss to Adjusted EBITDA 3 Months Ended 3 Months Ended (Millions) June 30, June 30, 2022 2021 Net loss $ (10.0) $ (10.1) Excluding: Depreciation 1.6 1.1 Stock compensation 11.0 0.5 Interest expense (net) 1.0 0.4 Change in fair value of derivative warrant