Companies /Technology

Rigetti Computing Inc

NASDAQ: RGTI Computer Hardware
$16.44
â–² $0.50 (+3.14%) today
Markets closed · 11:14pm ET

Q3 2025 Earnings

Reported Nov 10, 2025, 4:05pm ET · SEC source
$-0.03
Beat +25.00%
EPS · est. $-0.04
$1.9M
Miss −10.28%
Revenue · est. $2.2M
−17.5%
Trailing market
RGTI vs S&P since report
1 quarter
Consecutive EPS misses

Market Reaction

% change · around the report
−4%0+4%+8%Nov 10Nov 11report 4:05pm ETearnings+0.2%−0.9%
−4%0+4%+8%Nov 10Nov 11earnings+0.2%−0.9%
RGTI −0.9%S&P 500 +0.2%
−4%0+4%+8%Nov 10Nov 11report 4:05pm ETearnings−0.2%−0.9%
−4%0+4%+8%Nov 10Nov 11earnings−0.2%−0.9%
RGTI −0.9%NASDAQ −0.2%
−20%0Nov 10Nov 18report 4:05pm ETearnings−3.2%−20.9%
−20%0Nov 10Nov 18earnings−3.2%−20.9%
RGTI −20.9%S&P 500 −3.2%
−20%0Nov 10Nov 18report 4:05pm ETearnings−4.5%−20.9%
−20%0Nov 10Nov 18earnings−4.5%−20.9%
RGTI −20.9%NASDAQ −4.5%
−5.08%
Day of report
−9.87%
Next session
−18.12%
One week
−17.71%
30 days

S&P 500 over the same 30 days: −0.18%.

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. 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 <a href="https://247wallst.com/investing/2026/03/04/live-rigetti-computing-reports-q4-earnings-tonight/">watching the next quarter closely</a>.

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

“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.”

Rigetti Computing CEO, on the earnings call

Forward Guidance & Outlook

Rigetti expects to deliver a 100+ qubit chiplet-based quantum system with 99.5% median two-qubit gate fidelity by end of 2025. The company plans to deploy a 150+ qubit system by or around end of 2026 with 99.7% median two-qubit gate fidelity, and a 1,000+ qubit system by or around end of 2027 with 99.8% median two-qubit gate fidelity. Delivery of two Novera quantum computing systems totaling approximately $5.7 million in purchase orders is expected in H1 2026. The company plans to open an Italian subsidiary to pursue European business opportunities. Rigetti remains optimistic about being selected for DARPA QBI Stage B in the coming months. As of November 6, 2025, total liquidity (cash, cash equivalents, and available-for-sale investments) was approximately $600 million.

RGTI YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$-24,000,000$-16,000,000$-8,000,000$0$2.4M$1.9MRevenue$1.2M$404,000Gross Profit$-25,204,219$-20,549,000Operating Income
$-24,000,000$-16,000,000$-8,000,000$0RevenueGross ProfitOperating Income

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