Shares of Rigetti Computing (RGTI), a leading quantum computing company, experienced a significant pre-market plunge of 10.27% on Thursday. This sharp decline was driven by the company's disappointing fourth-quarter results, which fell short of analysts' expectations.

Rigetti Computing reported a quarterly loss of $0.08 per share, meeting the consensus estimate. However, the company's revenue of $2.27 million missed the analyst consensus estimate of $2.50 million by 9.04%, representing a 32.64% decrease compared to the same period last year.

Furthermore, the company reported a staggering net loss of $153 million for the quarter, significantly higher than analysts' expectations. Operating expenses also rose to $19.5 million, leading to an operating loss of $18.5 million that exceeded forecasts.