Q3 25 EPS
$-0.03
BEAT +25.00%
Est. $-0.04
Q3 25 Revenue
$1.9M
MISS 10.28%
Est. $2.2M
vs S&P Since Q3 25
-47.4%
TRAILING MARKET
RGTI -40.0% vs S&P +7.4%
Market Reaction
Did RGTI Beat Earnings? Q3 2025 Results
Rigetti Computing delivered a mixed third quarter for fiscal 2025, posting a narrower-than-expected loss while falling short on revenue, a combination that captures the uneven, timing-sensitive nature of its early-stage quantum computing business. Th… Read more Rigetti Computing delivered a mixed third quarter for fiscal 2025, posting a narrower-than-expected loss while falling short on revenue, a combination that captures the uneven, timing-sensitive nature of its early-stage quantum computing business. The company reported a non-GAAP loss of $0.03 per share, beating the $0.04 consensus estimate by 25.00%, though revenue came in at $1.95 million, missing the $2.17 million consensus by 10.28% and declining 18.1% year-over-year as contract timing weighed on results. The headline GAAP net loss swelled to $200.97 million, but that figure was dominated by a $181.96 million non-cash mark-to-market charge on derivative warrant liabilities tied to Rigetti's rising stock price, obscuring what was actually a modest improvement in underlying operational performance. With $558.90 million in liquidity at quarter-end, growing to approximately $600 million by early November, the company is well-funded to pursue its roadmap, which targets a 100+ qubit system by year-end and a 1,000+ qubit system by late 2027, while investors are already watching the next quarter closely.
Key Takeaways
- • Strong demand for on-premises quantum computing systems
- • Growth in government and academic partnerships and collaborations
- • Substantial liquidity position of approximately $600 million as of November 6, 2025
RGTI YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
“This past quarter, we saw strong momentum with both the demand for our on-premises quantum computers and the development of collaborations to advance our own R&D and the quantum ecosystem more broadly.”
— Subodh Kulkarni, Q3 2025 Earnings Press Release
RGTI Earnings Trends
RGTI vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
RGTI EPS Trend
Earnings per share: estimate vs actual
RGTI Revenue Trend
Quarterly revenue: estimate vs actual
RGTI Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 | — | — | — | — | — |
| Q1 26 BEAT | $-0.04 | $-0.04 | +6.76% | $4.4M | +6.60% |
| Q4 25 BEAT FY | $-0.03 | $-0.03 | +5.36% | $1.9M | -19.71% |
| FY Full Year | $-0.15 | $-0.16 | -10.34% | $7.1M | -6.80% |
| Q3 25 BEAT | $-0.04 | $-0.03 | +25.00% | $1.9M | -10.28% |
| Q2 25 MISS | $-0.04 | $-0.13 | -225.00% | $1.8M | -3.85% |
| Q1 25 BEAT | $-0.04 | $0.13 | +425.00% | $1.5M | -42.29% |