Quantum computing company Rigetti Computing (RGTI) is scheduled to report its results for the second quarter of 2025 after the market closes on Tuesday, August 12. Despite growing competition in the quantum computing space, analysts remain upbeat about the company’s growth due to its meaningful progress on its quantum roadmap. RGTI stock has surged approximately 1,786% over the past year, driven by growing investor interest in next-gen computing. Overall, analysts currently rate RGTI stock as a “Strong Buy” ahead of the release.
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What to Expect from RGTI’s Q2 Earnings
Wall Street analysts expect Rigetti to report a narrower loss per share of $0.05 in Q2 2025, compared to a loss of $0.07 in the prior-year quarter. However, the company’s revenue for Q2 2025 is expected to decline by about 39% year-over-year to $1.87 million.
It’s worth noting that Rigetti has missed earnings estimates six times in the past nine quarters.
RGTI Is Not Yet Making Real Profits
Rigetti is making progress, but it’s still not profitable. The company reported net income of $42.6 million in Q1 2025, but this was mostly due to a $62.1 million non-cash gain, not from its core business. Meanwhile, revenue fell 52% year-over-year to $1.5 million.
Even with these challenges, Rigetti’s cash position remains strong. It ended the first quarter with $209.1 million in cash and investments, giving it a solid cushion to keep operating.
The company is also cutting costs and staying focused on its tech goals. It plans to launch a 36-qubit system by mid-2025 and aims to go beyond 100 qubits by the end of the year using chiplet architecture.
Analysts Remain Upbeat About the Stock
Heading into the Q2 print, Needham Top analyst N. Quinn Bolton reiterated a Buy rating on RGTI stock and raised the price target to $18 from $15, citing growing momentum in quantum tech. He believes new U.S. policy efforts, like the Quantum Leadership Act of 2025, could drive government funding higher and benefit companies like Rigetti.
Also, B. Riley analyst Craig Ellis recently raised his price target on Rigetti Computing to $19 from $15 and maintained a Buy rating. The 5-star analyst expects Q2 revenue and EPS to come in at $1.9 million and ($0.06), roughly in line with consensus.
Is RGTI Stock a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on RGTI stock based on seven unanimous Buys assigned in the past three months, as indicated by the graphic below. The average RGTI stock price target is $16.80, implying upside potential of 7.28%.
