Shares of Rigetti Computing (RGTI) tumbled 5.08% in pre-market trading on Tuesday, following the company's disappointing third-quarter financial results. The quantum computing firm reported weaker-than-expected revenue, raising concerns among investors about its near-term growth prospects.

According to the latest financial report, Rigetti Computing posted third-quarter revenue of $1.95 million, falling short of analysts' estimates of $2.17 million. Despite the revenue miss, the company managed to narrow its losses, reporting a smaller-than-expected adjusted loss of 3 cents per share, compared to analysts' forecasts of a 4-cent loss per share.

The pre-market plunge comes as a setback for Rigetti Computing, which has been one of the foremost pure-play quantum computing companies in the market. The stock's decline is particularly notable given its impressive performance over the past year, with shares having surged by approximately 2,000% in the 12 months leading up to this report. This recent stumble may prompt investors to reassess the company's valuation and growth trajectory in the highly competitive and rapidly evolving quantum computing sector.