Companies /Technology
Rigetti Computing Inc
NASDAQ: RGTI Computer Hardware
$14.03
▼ $0.11 (−0.78%) today
Markets closed · 9:39pm ET

Rigetti Computing (RGTI) Q1 2025 Earnings

Reported May 12, 2025, 4:05pm ET · SEC source
$0.13
Beat +425.00%
EPS · est. $-0.04
$1.5M
Miss −42.29%
Revenue · est. $2.6M
+13.8%
Beating market
RGTI vs S&P since report
1 quarter
Consecutive EPS misses

How Did RGTI Stock React to Q1 2025 Earnings?

% change · around the report
−10%−5%0+5%May 12May 13report 4:05pm ETearnings+0.7%−8.6%
−10%−5%0+5%May 12May 13earnings+0.7%−8.6%
RGTI −8.6%S&P 500 +0.7%
−10%−5%0+5%May 12May 13report 4:05pm ETearnings+1.7%−8.6%
−10%−5%0+5%May 12May 13earnings+1.7%−8.6%
RGTI −8.6%NASDAQ +1.7%
−8%0+8%+16%May 12May 20report 4:05pm ETearnings+1.5%+12.1%
−8%0+8%+16%May 12May 20earnings+1.5%+12.1%
RGTI +12.1%S&P 500 +1.5%
−8%0+8%+16%May 12May 20report 4:05pm ETearnings+2.2%+12.1%
−8%0+8%+16%May 12May 20earnings+2.2%+12.1%
RGTI +12.1%NASDAQ +2.2%
−14.59%
Day of report
+17.99%
Next session
+20.83%
One week
+15.56%
30 days

S&P 500 over the same 30 days: +1.73%.

Did RGTI Beat Earnings? Q1 2025 Results

Yes. Rigetti Computing reported Q1 2025 earnings of $0.13 a share on May 12, 2025, beating the $-0.04 consensus estimate by 425.0%. Revenue was $1.5M against a $2.6M estimate.

Rigetti Computing delivered a headline-grabbing but deeply misleading beat in Q1 2025, posting earnings per share of $0.13 against a consensus estimate of -$0.04 — a 425.00% positive surprise — while simultaneously missing badly on revenue, which came in at just $1.47 million versus the $2.55 million analysts expected, a -42.29% shortfall and a steep -51.8% decline from $3.05 million a year ago. The EPS figure is almost entirely illusory: the company's $42.62 million net income was driven by $62.10 million in non-cash gains tied to derivative warrant and earn-out liability revaluations, masking an operating loss that widened to $21.63 million as R&D spending climbed to $15.46 million from $11.47 million in Q1 2024. The revenue shortfall underscores the inherently lumpy commercialization cycle of early-stage quantum computing, though a $35 million strategic investment from Quanta Computer and a cash position of $209.10 million — later rising to $237.70 million — provide meaningful runway as Rigetti pursues <a href="https://247wallst.com/investing/2026/03/04/live-rigetti-computing-reports-q4-earnings-tonight/">government contracts and technical milestones</a> to sustain long-term growth.

Key Takeaways
  • Non-cash gains of $62.1 million from change in fair value of derivative warrant and earn-out liabilities drove net income
  • Revenue decline due to lower quantum computing services and hardware revenue compared to prior year
  • Increased R&D spending reflecting investment in scaling qubit count systems

“Rigetti is proud to be awarded important government-funded projects in the U.S. and U.K. to advance our technology, which demonstrates our continued leadership in superconducting quantum computing”

Rigetti Computing CEO, on the earnings call

RGTI YoY Financials

Q1 2025 vs Q1 2024 · SEC filings Q1 2024 Q1 2025
$-30,000,000$0$30.0M$3.1M$1.5MRevenue$124,855$442,000Gross Profit$-31,093,862$-21,632,000Operating Income$10.5M$42.6MNet Income
$-30,000,000$0$30.0MRevenueGross ProfitOperating IncomeNet Income
RGTI income statement, Q1 2025 versus Q1 2024
Metric Q1 2025 Q1 2024 Year over year
Revenue $1.5M $3.1M −51.8%
Gross Profit $442,000 $124,855 +254.0%
Operating Income −$21.6M −$31.1M −30.4%
Net Income $42.6M $10.5M +305.2%

Figures from SEC filings and company reports. Not investment advice.