$RGTI CEO: US taxpayers are their main "customers" who pay their "revenue", need to lower expectations on commercial use

Hello quantum "experts",

Are your RGTI profits both in your account and not in your account? I guess it depends when you look at it.

Last I looked, I made 6X my money with $7 puts, In this post I questioned RGTI's revenue sources before the CEO admitted what they are, see below.

[https://www.reddit.com/r/wallstreetbets/comments/1hy9meh/rgti\_needs\_to\_come\_clean\_on\_revenue\_sources\_or/](https://www.reddit.com/r/wallstreetbets/comments/1hy9meh/rgti_needs_to_come_clean_on_revenue_sources_or/)

and the other time I looked, I made 10X my money with $15 puts for last week, and in this post I questioned why they sold 100M worth of stock and diluted the shareholders at $2 if they believed the company is worth more....like $20.

[https://www.reddit.com/r/wallstreetbets/comments/1hsszsq/rgti\_management\_sold\_at\_2\_giving\_us\_the\_shortest/](https://www.reddit.com/r/wallstreetbets/comments/1hsszsq/rgti_management_sold_at_2_giving_us_the_shortest/)

Why am I so focused on RGTI? I do not appreciate management that keeps silent and coy when their stock is hyped and overvalued. Back in the day, it was customary for companies to issue PRs saying "We are not aware of any company developments that might have caused the recent stock activity and volatility" and the stock would settle down. Nowadays, they are salivating at the greed of others as well as the aggregate disregard for rationality in pursuit of yields and profits. So they kept silent and probably fumed for issuing stock at $2 instead of $20. 

Well, the silence was broken by RGTI's CEO a couple of times this week, and it was a sh\*t show both times.

First at the Needham conference....well, just watch the first few seconds of the disclaimer RGTI asked the moderator to recite before the interview, and the CEOs reaction to it. People getting up and walking away in dismay.

Some paraphrased soundbites;

1. They are not concerned with sales but they are focused on technology
2. Their "stuff" is used by their research partners for scientific research and not commercial purposes - NVDA's Jensen was right
3. They depend on Fermilab for funneling government funds/grants onto them. By the way, Fermilab was shut down in the summer for a while due to lack of funding.
4. They salivate and pray that a new government budget is being proposed/passed for increased spending on quantum because.....drum roll....
5. They rely almost fully on government funds/grants, i.e. YOUR TAX MONEY and mine, to survive and play with flux capacitors. EDIT: they also rely on dumping money on the dumb public which is clueless what quantum is and what it does or does not do, but that is beyond the scope of this post.

Total mess, have a watch, just don't die from cringe: [https://www.youtube.com/watch?v=upj8EAT-HZM](https://www.youtube.com/watch?v=upj8EAT-HZM)

Then, in this Yahoo segment, he plays a good guy saying that we need to lower our expectations on quantum commercialization, while at the same time he has the audacity to throw "others" in the industry under the bus for making exaggerated claims about large revenues from quantum, which he implies are NOT happening and we all knew that all along...Have a watch:

[https://finance.yahoo.com/video/rigetti-computing-ceo-hype-stock-130000567.html](https://finance.yahoo.com/video/rigetti-computing-ceo-hype-stock-130000567.html)

No, RGTI needed to calm the public down when the stock shot up from pennies to over $20 and tell them that it is still in an R&D stage and it has no commercial applications in the real world outside of government sponsored research circles. That should have served the purpose and kept RGIT at $2 or below. But no, it needed to be be coy and mum, right?

At the same time, not once did RGTI mention the word "research grant" in their last 10-Q, and kept referring to entities where "revenue" comes from as "customers" even though it is obvious from the interviews that it is research partners which share the same grant money are their "customers" but in the end, it is you and I the dumb idiotic tax paying public that has no idea where tax money goes and how it is spent. They go as far as doing a full blown customer segmentation by geography and "customer size" while the SEO admitted it is pretty much all government research funds they claim as "revenues".

Here is the 10Q filing, have a read, I know you won't: [https://investors.rigetti.com/node/9666/html](https://investors.rigetti.com/node/9666/html)

We deserve this stuff and we don't deserve it at the same time, in an ironic quantum fashion.

Disclosure: I own $10 puts for this Friday and will trade, trim or add more or different puts as I see fit.

https://preview.redd.it/18lehfyk78de1.png?width=737&format=png&auto=webp&s=68688883073dcbb5313357711e8d211cfd700249

EDIT: Well, RGTI algos remained regarded and pinned the 10 strike for what felt like eternity, only to drop it at the end and they still to 5 cents from me because as soon as my order filled the price moved to 22.5 mid. This is my tip to the casino waitress for the week, still up 13X my initial investment in the 15s and then the 7s, so I am bidding RGTI and all of you a farewell.....until next time, which is probably next Thursday.

https://preview.redd.it/yshnzwe5cmde1.png?width=754&format=png&auto=webp&s=00458dbc1618613a5bfb77d32ef89dbacf7e626c