Rigetti Computing Inc (NASDAQ:RGTI) Q2 2025 Earnings Report: Revenue and EPS Miss, Shares Drop Post-Announcement

Rigetti Computing (NASDAQ:RGTI) Q2 2025 Earnings: Revenue and EPS Miss Estimates, Shares Decline

Rigetti Computing (NASDAQ:RGTI) reported its second-quarter 2025 financial results, falling short of analyst expectations on both revenue and earnings per share (EPS). The quantum computing company posted revenue of $1.8 million, missing the consensus estimate of $1.91 million. Meanwhile, the net loss per share came in at -$0.056, worse than the anticipated -$0.0471.

Following the earnings release, Rigetti’s stock declined in after-hours trading, dropping approximately 2.6%, reflecting investor disappointment with the results. Over the past month, shares had gained 27.4%, but the post-earnings reaction suggests concerns about the company’s near-term financial performance.

Key Financial Highlights

• Revenue: $1.8M (vs. $1.91M estimate)
• EPS: -$0.056 (vs. -$0.0471 estimate)
• Operating Loss: $19.9M
• Net Loss: $39.7M (including $22.8M in non-cash losses from fair value adjustments)
• Cash Position: $571.6M (boosted by a $350M equity raise)

Market Reaction and Outlook

The revenue miss and wider-than-expected loss likely contributed to the negative market response. While Rigetti maintains a strong cash position, investors may be scrutinizing the company’s ability to scale revenue alongside its technological advancements.

Technology and Business Updates

Rigetti announced the general availability of its 36-qubit multi-chip quantum computer, Cepheus-1-36Q, which the company claims achieves a median two-qubit gate fidelity of 99.5%—a significant improvement over previous systems. The company also reiterated its goal to release a 100+ qubit system by the end of 2025.

Additionally, Rigetti completed a $350M equity offering, strengthening its balance sheet with no debt. Management indicated that the proceeds will support commercial scaling, capital expenditures, and potential strategic partnerships.

Analyst Estimates for Upcoming Quarters

Looking ahead, analysts expect:

• Q3 2025 Revenue: $2.48M
• Q3 2025 EPS: -$0.047
• Full-Year 2025 Revenue: $8.85M
• Full-Year 2025 EPS: -$0.189

Rigetti did not provide explicit forward guidance in its press release, leaving investors to rely on external estimates.

Conclusion

While Rigetti continues to make strides in quantum computing technology, its financial performance in Q2 fell short of expectations, leading to a negative market reaction. The company’s strong liquidity position provides runway for growth, but investors will be watching for improved revenue traction in future quarters.

For more detailed earnings estimates and historical performance, visit Rigetti Computing’s earnings page.

Disclaimer: This article is for informational purposes only and does not constitute investment advice.