Rigetti Computing Reports Q3 2025 Revenue Amid Losses and New Contracts

BERKELEY, Calif., Nov. 10, 2025 (GLOBE NEWSWIRE) — Rigetti Computing, Inc. (Nasdaq: RGTI), a leader in quantum-classical computing, announced its financial performance for the third quarter ending September 30, 2025, showing both revenue generation and substantial losses.

In this quarter, Rigetti reported total revenues of $1.9 million, a decrease from $2.4 million in the same period last year. The company faced a GAAP net loss of $201 million, translating to a net loss per share of $(0.62). Additionally, the non-GAAP net loss amounted to $10.7 million, leading to a non-GAAP net loss per share of $(0.03).

CEO Dr. Subodh Kulkarni highlighted the growth momentum observed during the quarter, noting an increased demand for their quantum computers. He stated, “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 announced multiple partnerships designed to enhance its technology offerings, including a $5.8 million contract awarded by the Air Force Research Laboratory (AFRL) to develop superconducting quantum networking in collaboration with the Dutch startup QphoX.

In commercial updates, Rigetti secured purchase orders totaling approximately $5.7 million for two 9-qubit Novera™ systems, expected for delivery in the first half of 2026. One system will be used by a technology manufacturer in Asia, while the other will focus on quantum hardware research at a California-based AI startup.

Looking forward, Rigetti aims to advance their technology roadmap with plans to deliver a 100+ qubit quantum system expected by the end of 2025, followed by a 150+ qubit system by the end of 2026 and a 1,000+ qubit system by the end of 2027, each increasing fidelity standards.

Additionally, Rigetti is expanding its global footprint with a new subsidiary in Italy to capitalize on growing European resources for quantum computing. They continue to engage with DARPA regarding the Quantum Benchmarking Initiative despite not being selected for Stage B. The ongoing dialogue has provided constructive feedback, and Rigetti remains hopeful about future participation.

The company will host a conference call on November 11, 2025, to further discuss these results and outline future strategies.