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Rigetti Computing Inc
NASDAQ:RGTI

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Rigetti Computing Inc
NASDAQ:RGTI
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Price: 27.66 USD -2.12% Market Closed
Market Cap: 9.1B USD

Rigetti Computing Inc
Investor Relations

Rigetti Computing Inc. stands as a pioneer in the burgeoning field of quantum computing, a realm that promises to reshape industries with its potential to solve complex problems much faster than traditional computers. Founded by Chad Rigetti in 2013, the company is nestled in Berkeley, California and is devoted to developing full-stack quantum computing solutions. This holistic approach involves both building quantum processors and creating a software platform, Forest, which allows developers to write quantum algorithms that harness the full power of Rigetti's quantum computers. By offering access via the cloud, Rigetti democratizes quantum computing, allowing businesses and researchers to experiment and solve large-scale computational problems previously deemed intractable.

At the core of Rigetti’s business model is the development and commercialization of its Quantum Cloud Services (QCS), which offers a pay-per-use access model. Users, ranging from multinational corporations to innovative startups and academic institutions, access Rigetti's quantum systems to enhance processes like optimization, machine learning, and complex simulations. The company monetizes these services through subscription fees, partnerships, and licensing agreements. Moreover, Rigetti actively collaborates on research and development projects, further capitalizing on advancements to cement its role as a leading player in quantum technology—an industry poised for transformative impact across finance, pharmaceuticals, and logistics, among others.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 11, 2025
AI Summary
Q3 2025

Revenue Decline: Q3 2025 revenue was $1.9 million, down from $2.4 million last year due to the expiration of the US National Quantum Initiative and timing of new contracts.

Gross Margin Drop: Gross margin fell sharply to 21% from 51% a year ago, mainly because of the revenue mix and lower-margin contracts.

Strong Cash Position: Rigetti reported $558.9 million in cash and investments at quarter-end, boosted to $600 million by November 6 after warrant exercises.

New Orders & Contracts: Announced $5.7 million in orders for two 9-qubit Novera systems and a $5.8 million, three-year contract with the Air Force Research Laboratory, expected to benefit revenue in Q4 and 2026.

Roadmap Progress: Still on track to launch a 100+ qubit system with 99.5% fidelity by end-2025, a 150+ qubit system in 2026, and a 1,000+ qubit system with 99.8% fidelity by end-2027.

Strategic Partnerships: Highlighted collaborations with academic, government, and industry partners, including support for NVIDIA's NVQLink for hybrid quantum-AI computing.

Outlook and M&A: Management confident in organic roadmap execution but open to M&A if opportunities arise to accelerate progress.

Key Financials
Revenue
$1.9 million
Gross Margin
21%
Operating Expenses
$21 million
Stock Compensation Expense
$4.3 million
Operating Loss
$20.5 million
Net Loss (Non-GAAP)
$10.7 million
Net Loss Per Share (Non-GAAP)
$0.03
Cash, Cash Equivalents, and Investments (Sep 30, 2025)
$558.9 million
Cash, Cash Equivalents, and Investments (Nov 6, 2025)
$600 million
Earnings Call Recording
Other Earnings Calls

Management

Dr. Subodh K. Kulkarni Ph.D.
CEO, President & Director
No Bio Available
Mr. David Rivas
Chief Technology Officer
No Bio Available
Mr. Richard Danis
General Counsel & Corporate Secretary
No Bio Available
Mr. Jeffrey A. Bertelsen
Chief Financial Officer
No Bio Available
Ms. Jackie Kaweck
Senior Vice President of Human Resources
No Bio Available
Mr. Mike Pelstring
Senior Vice President of Engineering
No Bio Available
Dr. Andrew Bestwick
Senior Vice President of Quantum Systems
No Bio Available

Contacts

Address
CALIFORNIA
Berkeley
775 Heinz Avenue
Contacts
+15102105550.0