Rigetti Computing Inc

For the period ended Dec 31, 2023. Filed Mar 14, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 14, 2024

RGTI$12.15-6.4%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS


· · · ·
	Year Ended December 31,
· 2023 · 2022
Cash flows from operating activities: · ·
Net loss		$(75,107)	$(71,521)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		7,426	7,017
Stock-based compensation		12,409	44,812
Change in fair value of earn-out liabilities		949	(19,207)
Change in fair value of derivative warrant liabilities		1,160	(22,132)
Change in fair value of forward contract		2,229	(5,764)
Impairment of deferred offering costs		836	—
Accretion of available-for-sale securities		(3,121)	(949)
Amortization of debt issuance costs, commitment fees and accretion of debt end-of-term liabilities		1,453	1,468
Non-cash lease expense		1,682	537
Goodwill impairment		—	5,377
Changes in operating assets and liabilities:
Accounts receivable		1,206	(4,692)
Prepaid expenses, other current assets and other assets		(259)	(1,065)
Deferred revenue		(618)	(24)
Accounts payable		895	(707)
Accrued expenses and operating lease liabilities		(1,719)	4,456
Other liabilities		—	(295)
Net cash used in operating activities		(50,579)	(62,689)
Cash flows from investing activities:
Purchases of property and equipment		(9,059)	(22,737)
Purchases of available-for-sale securities		(109,252)	(84,287)
Maturities of available-for-sale securities		119,084	—
Net cash provided by (used in) investing activities		773	(107,024)
Cash flows from financing activities:
Proceeds from Business Combination, net of transaction costs paid		—	225,604
Transaction costs paid directly by Rigetti		—	(18,842)
Proceeds from issuance of notes payable		—	5,000
Payments of principal of notes payable		(8,333)	(1,291)
Payments of debt issuance costs		—	(85)
Payment of loan and security agreement exit fees		—	(1,000)
Payments of offering costs		(107)	—
Proceeds from sale of common stock through Common Stock Purchase Agreement		20,544	—
Proceeds from issuance of common stock upon exercise of stock options and warrants		1,126	6,068
Net cash provided by financing activities		13,230	215,454
Effects of exchange rate changes on cash and cash equivalents		80	101
Net (decrease) increase in cash and cash equivalents		(36,496)	45,842
Cash and cash equivalents – beginning of period		57,888	12,046
Cash and cash equivalents – end of period		$21,392	$57,888
Supplemental disclosures of other cash flow information:
Cash paid for interest		$4,340	$3,819
Non-cash investing and financing activities:
Initial fair value of earn-out liability acquired in merger		—	20,413
Initial fair value of private placement and public warrant liability acquired in merger		—	22,932
Reclassification of loan and security agreement warrants to equity		—	6,370
Settlement of the first tranche of forward contract		—	3,305
Capitalization of deferred costs to equity upon share issuance		13	1,520
Purchases of property and equipment recorded in accounts payable		3,612	673
Purchases of property and equipment recorded in accrued expenses		1,019	639
Unrealized Gain (Loss) on short term investments		325	(314)
Right-of-use assets recorded on adoption of ASU 2016‑02		—	6,270
Operating lease liabilities recorded on adoption of ASU 2016‑02		—	6,620
Lease liabilities arising from obtaining right-of-use assets		—	4,892

See accompanying notes to consolidated financial statements.

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