Rigetti Computing (RGTI) Company Report

Rigetti Computing, a pioneer in full-stack quantum computing, focuses on superconducting qubits due to their scalability and gate speed, with current systems achieving gate speeds of 50-70 nanoseconds.
The company has a conservative outlook on achieving quantum advantage, estimating it to be approximately three years away, requiring a minimum of 1,000 qubits, 99.9% two-qubit gate fidelity, and 50 nanosecond gate speed with error correction.
Rigetti recently updated its roadmap, delaying the general availability of its 108-qubit Cepheus system to the end of Q1 due to unexpected coupling issues, but aims for over 150 qubits at 99.7% fidelity this year and 1,000 qubits at 99.8% fidelity next year.
The company employs an open and modular architecture strategy, partnering with firms like Riverlane for real-time error correction and NVIDIA for distribution layer software, rather than developing the entire stack internally.
Financially, Rigetti reported approximately $600 million in cash with no debt and an annual burn rate of roughly $75 million, indicating it is well-funded to reach its quantum advantage goals.

5 days ago

Transcript

Rigetti Computing Provides Updates on Quantum Computing Roadmap and Financial Position

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Guidance Update

Product Launch

Rigetti Computing, a pioneer in superconducting qubit technology, anticipates deploying its 108-qubit system at 99.5% two-qubit gate fidelity by the end of Q1 2026, with a long-term goal of achieving 1,000 qubits and 99.9% fidelity for quantum advantage within three years.
The company operates with an open and modular architecture, engaging in strategic partnerships with firms such as Riverlane for real-time error correction and NVIDIA for distribution layer software, to advance its technology roadmap.
As of last quarter (Q4 2025), Rigetti maintained a strong financial position with approximately $600 million in cash and no debt, and an annual burn rate of about $75 million, indicating it is well-funded to pursue its quantum advantage objectives.
The U.S. government is expected to substantially increase funding for quantum computing, which is projected to benefit Rigetti and the broader ecosystem, although the market for the next three to five years is primarily focused on research applications.

5 days ago

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Rigetti Computing Outlines Quantum Advantage Timeline and Technology Roadmap

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New Projects/Investments

Guidance Update

Financial Position

Rigetti Computing projects achieving quantum advantage in approximately three years, which will necessitate a minimum of 1,000 qubits, 99.9% two-qubit gate fidelity, maximum 50 nanosecond gate speed, and error correction.
The company's technology roadmap includes deploying a 108-qubit system with 99.5% two-qubit gate fidelity and 60 nanosecond gate speed by the end of Q1 2026, a quarter later than initially planned due to issues with coupler interactions. Rigetti aims to exceed 150 qubits at 99.7% fidelity by the end of 2026 and reach 1,000 qubits at approximately 99.8% fidelity by 2027 using chiplet technology.
As of last quarter, Rigetti reported $600 million in cash with no debt and an annual burn rate of $75 million, indicating it is well-funded to achieve its quantum advantage goals organically.
Rigetti's go-to-market strategy involves selling QPUs or full quantum computing systems to customers, primarily for research applications at national labs, universities, and select commercial entities.

5 days ago

Transcript

Rigetti Provides Update on Quantum Computing Technology Roadmap and Strategic Investments

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Product Launch

New Projects/Investments

Rigetti (RGTI) is a global leader in superconducting gate-based quantum computing, with a plan to deliver a 108Q chiplet-based system at 99.5% median 2Q gate fidelity around the end of Q1 2026. The company aims to reach 1,000+Q at 99.9% median 2Q median fidelity in 3-5 years to enable quantum advantage.
The company's technology roadmap demonstrates a progression in qubit count and fidelity, with the Cepheus-1 36Q system achieving 99.5% median 2Q gate fidelity in 2025 and the planned Cepheus-1 108Q for 2026. Rigetti operates the world's first dedicated quantum integrated circuit foundry, Fab-1, and holds 281 issued and pending patents.
Rigetti has secured strategic collaborations, including a $35 million investment from Quanta Computer at $11.59 per share, as part of a $250 million joint investment over five years to advance superconducting quantum computing technologies.
The quantum computing market is projected to generate $450 billion - $850 billion of economic value by 2040, with the provider market reaching $90 billion - $170 billion.

5 days ago

Presentation

Rigetti Computing Adjusts Quantum System Availability Timeline

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Product Launch

Guidance Update

Rigetti Computing, Inc. has revised its roadmap for the general availability of its 108-qubit quantum computing system, Cepheus™-1-108Q.
The Cepheus™-1-108Q system is now expected to be generally available around the end of the first quarter of 2026.
This adjustment is to allow for further testing and optimization to ensure performance and achieve 99.5% median two-qubit gate fidelity, following complexities with tunable couplers.

6 days ago

Press Release

Rigetti Computing Adjusts General Availability Date for 108-Qubit System

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Product Launch

Guidance Update

New Projects/Investments

Rigetti Computing, Inc. announced a revision to its roadmap for the Cepheus™-1-108Q quantum computing system.
The general availability of the 108-qubit system is now expected around the end of the first quarter of 2026, a delay attributed to further testing and optimization, including addressing complexities with tunable couplers.
The company reported achieving a median two-qubit gate fidelity of 99% on its 108-qubit system, 99.7% on its 9-qubit system, and 99.6% on its 36-qubit system.

Jan 9, 2026, 1:20 PM

8-K

Rigetti Computing Updates 108-Qubit System Availability

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Guidance Update

Product Launch

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Rigetti Computing has revised the general availability date for its 108-qubit quantum computing system, Cepheus-1-108Q, now expecting it around the end of the first quarter of 2026.
The revision is due to the need for additional testing and optimization of the system, specifically to address complexities with tunable couplers and to run another chip iteration.
The company has achieved a median two-qubit gate fidelity of 99% on its 108-qubit system.
Cepheus-1-108Q is set to be Rigetti's highest qubit count system and the industry's largest modular quantum computing system.

Jan 9, 2026, 1:00 PM

Press Release

Rigetti Computing Reports Q3 2025 Results and Updates Technology Roadmap

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Earnings

New Projects/Investments

Guidance Update

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

Transcript

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

Transcript

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.