NASDAQ$RGTI
Rigetti Computing Inc · Q3 2025 earnings
Q3 2025 earnings · · After market close · Investor relations
Briefing
Rigetti reported Q3 2025 results with continued investment in R&D and strategic collaborations to support future growth.
Rigetti posted a significant GAAP net loss in Q3 2025, though non-GAAP results were much improved. The company maintained a strong cash position and announced key customer wins and technical milestones.
- GAAP net loss of $200,968,000, but non-GAAP net loss narrowed to $10,652,000.
- Revenue came in at $1,947,000 for the quarter.
- Rigetti secured $5.7M in purchase orders for two 9-qubit Novera™ systems.
- Strong cash position with approximately $600M in liquidity as of early November.
Headline financials
Revenue & EPS history
Rigetti · Revenue · Quarterly
$1.95M
Forward guidance
Rigetti expects to maintain progress on its technology roadmap with expanded deployments and product capabilities in the coming years.
Tailwinds
- 100+ qubit chiplet-based system with 99.5% fidelity on track for end of 2025
- Plans to deploy a 150+ qubit system with 99.7% fidelity by end of 2026
- Targeting 1,000+ qubit system with 99.8% fidelity by end of 2027
- Growing commercial interest with recent $5.7M in system orders
- Active collaborations with institutions like MSU, AFRL, and C-DAC
Headwinds
- Not initially selected for Stage B of DARPA Quantum Benchmarking Initiative
- Ongoing high operating losses impacting profitability
- Revenue continues to decline year-over-year
- Heavy reliance on government and academic sector contracts
- Large fluctuations in warrant liability affecting GAAP results
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2025
+1.3%
Avg return
Earnings day
+5.4%
Avg return
5 days after
+11.1%
Avg return
30 days after
40%
8 / 20 earnings
Positive
+38.2%
Q2 2023
Best reaction
-14.7%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +7.7% | -5.7% | — | |
| Q4 2025 | -4.4% | -4.3% | -20.1% | |
| Q3 2025 | -2.7% | -23.0% | -18.7% | |
| Q1 2025 | -14.7% | +2.6% | +4.8% | |
| Q4 2024 | +4.0% | -1.6% | -8.3% | |
| Q3 2024 | +11.8% | -7.2% | +292.8% | |
| Q2 2024 | +1.6% | +15.3% | -3.1% | |
| Q1 2024 | -7.2% | +5.6% | -18.4% | |
| Q4 2023 | -3.4% | -14.2% | -42.2% | |
| Q3 2023 | -7.6% | +13.3% | -1.0% | |
| Q2 2023 | +38.2% | +35.8% | +20.0% | |
| Q1 2023 | -5.4% | +5.5% | +173.1% | |
| Q4 2022 | -1.8% | +29.1% | -19.3% | |
| Q3 2022 | +6.5% | +12.9% | -34.7% | |
| Q2 2022 | +8.3% | +20.6% | -45.9% | |
| Q1 2022 | -1.0% | +11.5% | -42.0% | |
| Q4 2021 | -9.2% | -0.6% | -26.7% | |
| Q3 2021 | +6.4% | +12.6% | -0.2% | |
| Q2 2021 | -0.3% | -0.4% | +0.1% | |
| Q1 2021 | -0.1% | -0.3% | +0.3% |
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