The earnings call highlighted significant technological advancements and strategic financial positioning, but these were overshadowed by declining revenues, reduced gross margins, increased operating expenses, and a higher net loss.

Company Guidance -

Q3 2025

During Rigetti Computing's second-quarter 2025 earnings call, CEO Dr. Subodh Kulkarni highlighted significant advancements in their quantum computing technology and financial position. The company unveiled the Cepheus-1-36Q, the largest multi-chip quantum computer in the industry, achieving a median 2-qubit gate fidelity of 99.5% and halving the error rates compared to their previous system, Ankaa-3. Rigetti plans to release a 100-plus qubit system with the same fidelity by the end of 2025. Financially, Rigetti strengthened its balance sheet by raising $350 million in gross proceeds from a stock sale, positioning itself well for commercial scale-up. Despite a dip in quarterly revenue to $1.8 million, largely due to the expiration of the National Quantum Initiative, the company's focus remains on technology milestones as a key metric for long-term success.

Largest Multi-Chip Quantum Computer

Rigetti demonstrated the industry's largest multi-chip quantum computer, Cepheus-1-36Q, with a 2x reduction in 2-qubit gate error rates, achieving a median 2-qubit gate fidelity of 99.5%.

Significant Financing Achievement

Rigetti completed the sale of $350 million in gross proceeds of its common stock, significantly strengthening its balance sheet.

Progress in Quantum Technology Roadmap

Rigetti plans to release a 100-plus qubit chiplet-based system with 99.5% median 2-qubit gate fidelity before the end of 2025.

Strategic Partnership with Quanta

Rigetti is advancing its partnership with Quanta, focusing on control systems to complement Rigetti's Quantum Processing Units (QPUs).

Rigetti Computing (RGTI) Earnings, Revenues Date & History

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RGTI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 18, 2025	2025 (Q3)	-0.04 / -	-0.08	―	―	―
Aug 12, 2025	2025 (Q2)	-0.05 / -0.05	-0.07	22.86% (+0.02)	―
May 12, 2025	2025 (Q1)	-0.05 / -0.08	-0.14	45.71% (+0.06)	―
Mar 05, 2025	2024 (Q4)	-0.07 / -0.08	-0.09	7.78% (<+0.01)	―
Nov 12, 2024	2024 (Q3)	-0.07 / -0.08	-0.17	52.94% (+0.09)	―
Aug 08, 2024	2024 (Q2)	-0.07 / -0.07	-0.13	46.15% (+0.06)	―
May 09, 2024	2024 (Q1)	-0.09 / -0.14	-0.19	26.32% (+0.05)	―
Mar 14, 2024	2023 (Q4)	-0.10 / -0.09	-0.19	52.63% (+0.10)	―
Nov 09, 2023	2023 (Q3)	-0.10 / -0.17	-0.16	-6.25% (-0.01)
Aug 10, 2023	2023 (Q2)	-0.14 / -0.13	-0.09	-44.44% (-0.04)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

RGTI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 12, 2025	$16.20	$17.24	+6.42%
May 12, 2025	$11.55	$9.86	-14.63%
Mar 05, 2025	$8.18	$8.51	+4.03%
Nov 12, 2024	$1.52	$1.49	-1.97%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.