Rigetti's Q2 revenue came in at $5.1M. It's up 185% from last year, but still small for a company with a $6B market cap. Net loss was $52.6M with operating expenses hitting $30.2M. They have $541M in cash to keep things running. The problem is that commercial quantum computing is likely decades away. Dilution is a real risk if they have to raise more funds later. Valuation is pretty high right now. The stock is trading at a 437 price-to-sales ratio. Even based on 2027 revenue estimates, the forward P/S is 133. Their new 108-qubit system is improving, but error rates are still too high for practical problems. The stock might trend lower given the long wait for profitability.