Rigetti Computing (RGTI) Company Report

Rigetti Computing reported Q3 2025 revenue of $1.9 million, a decrease from $2.4 million in Q3 2024, with gross margins declining to 21% from 51% in the prior year period.
The company secured $5.7 million in purchase orders for two 9-qubit Novera quantum computing systems and a $5.8 million three-year contract from AFRL in September 2025, with revenue recognition expected in Q4 2025 and into 2026.
Rigetti updated its technology roadmap, targeting a 150-plus qubit system with 99.7% median 2-qubit gate fidelity by the end of 2026, and a 1,000-plus qubit system with 99.8% median 2-qubit gate fidelity by the end of 2027.
As of November 6, 2025, Rigetti's cash, cash equivalents, and available for sale investments totaled approximately $600 million, following $46.5 million in proceeds from warrant exercises.

Nov 11, 2025, 1:30 PM

Rigetti Computing Reports Q3 2025 Results and Updates Quantum System Roadmap

RGTI

Earnings

Guidance Update

New Projects/Investments

Rigetti Computing reported Q3 2025 revenue of $1.9 million, a decrease from $2.4 million in Q3 2024, with gross margins at 21% compared to 51% in the prior year period. The non-GAAP net loss for Q3 2025 was $10.7 million, or $0.03 per share, an improvement from a $13.4 million net loss, or $0.07 per share, in Q3 2024.
The company updated its quantum system roadmap, aiming to deploy a 150+ qubit system with 99.7% median two-qubit gate fidelity by late 2026, and a 1,000+ qubit system with 99.8% fidelity by late 2027.
In September 2025, Rigetti announced purchase orders totaling approximately $5.7 million for two 9-qubit Novera quantum computing systems, with revenue recognition expected in Q1 and Q2 2026 upon shipment.
As of November 6, 2025, Rigetti had approximately $600 million in cash, cash equivalents, and available for sale investments, following warrant exercises. The company anticipates needing to consider significant capital expenditure for a new quantum fab, potentially costing hundreds of millions of dollars, roughly a year from now to support future technological advancements beyond 2027.

Nov 11, 2025, 1:30 PM

Rigetti Computing Reports Q3 2025 Financial Results and Provides Business Updates

RGTI

Earnings

New Projects/Investments

Guidance Update

Rigetti Computing reported Q3 2025 revenues of $1.9 million, a decrease from $2.4 million in Q3 2024, with gross margins declining to 21% from 51% year-over-year.
The company announced new purchase orders totaling approximately $5.7 million for two 9-qubit Novera quantum computing systems and a three-year, $5.8 million contract from the Air Force Research Laboratory (AFRL) in September 2025, with revenue benefits expected in Q4 2025 and 2026.
Rigetti is on track to deliver a 100-plus qubit system by the end of 2025, a 150-plus qubit system by the end of 2026, and a 1,000-plus qubit system by the end of 2027, each with anticipated improvements in median 2-qubit gate fidelity.
As of September 30, 2025, Rigetti held approximately $558.9 million in cash, cash equivalents, and available for sale investments, increasing to approximately $600 million by November 6, 2025, after warrant exercises.
The company is exploring options for a new quantum chip fabrication facility, potentially costing hundreds of millions of dollars, to support future advancements beyond the current three-year roadmap if national initiatives or existing foundry models are insufficient.

Nov 11, 2025, 1:30 PM

Rigetti Computing Reports Q3 2025 Financial Results and Technology Roadmap Updates

RGTI

Earnings

Guidance Update

New Projects/Investments

Rigetti Computing reported total revenues of $1.9 million for the three months ended September 30, 2025, with a GAAP net loss of $201.0 million and a non-GAAP net loss of $10.7 million. GAAP net loss per share was $(0.62), and non-GAAP net loss per share was $(0.03).
As of September 30, 2025, cash, cash equivalents, and available-for-sale investments totaled $558.9 million, increasing to approximately $600.0 million by November 6, 2025, partly due to $46.5 million from warrant exercises.
The Company secured purchase orders totaling approximately $5.7 million for two 9-qubit Novera™ quantum computing systems, expected for delivery in the first half of 2026. Additionally, Rigetti was awarded a three-year, $5.8 million contract from AFRL to advance superconducting quantum networking.
Rigetti provided technology roadmap updates, aiming to deliver a 100+ qubit system with 99.5% median two-qubit gate fidelity by the end of 2025, a 150+ qubit system by late 2026, and a 1,000+ qubit system by late 2027.

Nov 10, 2025, 9:05 PM

Rigetti Computing Reports Third Quarter 2025 Financial Results and Updates Technology Roadmap

RGTI

Earnings

Guidance Update

New Projects/Investments

Rigetti Computing reported total revenues of $1.9 million and a GAAP net loss of $201.0 million for the third quarter ended September 30, 2025. As of November 6, 2025, cash, cash equivalents, and available-for-sale investments totaled approximately $600.0 million.
The company secured purchase orders totaling approximately $5.7 million for two 9-qubit Novera™ quantum computing systems in September 2025, with delivery anticipated in the first half of 2026.
Rigetti remains on track to deliver its 100+ qubit chiplet-based quantum system by the end of 2025 and plans to deploy a 150+ qubit system by the end of 2026, followed by a 1,000+ qubit system by the end of 2027.
In September 2025, Rigetti was awarded a three-year, $5.8 million contract from AFRL to advance superconducting quantum networking.

Nov 10, 2025, 9:05 PM

Rigetti Computing Investor Presentation Outlines Growth and Supernova Business Combination

RGTI

Guidance Update

New Projects/Investments

M&A

Rigetti Computing, founded in 2013, focuses on developing universal, gate-model quantum computers and has raised $200M+ in venture funding.
The company introduced its 80-qubit "Aspen-M" multi-chip quantum processor in private beta in December 2021, marking a significant technological advancement as the world's first multi-chip quantum processor.
Rigetti projects substantial revenue growth, with forecasted revenue increasing from $18 million in 2022E to $594 million in 2026E, achieving a 140% CAGR.
A business combination with Supernova is underway, valuing Rigetti at a $1,152 million post-money enterprise value and funded by $103 million initial PIPE, $45 million additional PIPE, and $345 million Supernova II cash in trust.
In December 2021, Rigetti announced a partnership to bring its quantum computers to Azure Quantum, expanding accessibility beyond Amazon's AWS Braket and Strangeworks.