Rigetti Computing Inc Reports Q1 2025 Revenue Of 1 5 Million M

Bonisiwe Shabane

-Jan 2, 2026, 3:49 PM

rigetti computing inc reports q1 2025 revenue of 1 5 million m

May 12, 2025 16:05 ET | Source: Rigetti Computing, Inc. Rigetti Computing, Inc. BERKELEY, Calif., May 12, 2025 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (Nasdaq: RGTI) (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, today announced its financial results for the first quarter ended March 31, 2025. First Quarter 2025 and Recent Financial Highlights “Rigetti is proud to be awarded important government-funded projects in the U.S.

and U.K. to advance our technology, which demonstrates our continued leadership in superconducting quantum computing,” says Rigetti CEO Dr. Subodh Kulkarni. “We also are making great strides in developing innovative approaches to scaling to higher qubit count systems, which is possible due to our open and modular system architecture, in-house full-stack expertise, and world-class partners.” Rigetti Selected to Participate in DARPA’s Quantum Benchmarking Initiative Rigetti will advance to Stage A, a 6-month performance period focused on the Company’s utility-scale quantum computer concept worth up to $1 million upon completion... Rigetti’s proposed concept to design and build a Utility-Scale Quantum Computer (USQC) combines the Company’s proprietary multi-chip architecture with scalable quantum error correction (QEC) codes.

Rigetti’s long-time partner and leader in QEC technology, Riverlane, will be collaborating on this project and bringing their expertise to help refine the proposed USQC concept and validate the underlying technology. Written by None for Quiver Quantitative-> Rigetti Computing reports Q1 2025 revenue of $1.5 million and net income of $42.6 million, driven by non-cash gains. Rigetti Computing, Inc. announced its financial results for the first quarter of 2025, reporting total revenues of $1.5 million and an operating loss of $21.6 million amid operating expenses of $22.1 million. Notably, the company recorded a net income of $42.6 million, bolstered by $62.1 million in non-cash gains from changes in the fair value of derivative liabilities.

As of March 31, 2025, Rigetti had $209.1 million in cash and investments, which rose to $237.7 million by April 30 after an investment from Quanta Computer. The company highlighted its participation in pivotal projects, including DARPA’s Quantum Benchmarking Initiative and several Innovate UK awards, aimed at advancing superconducting quantum computing and error correction capabilities. Additionally, Rigetti announced collaborations for chip fabrication technology and integration efforts with various academic institutions and industry partners. Rigetti reported total revenues of $1.5 million and net income of $42.6 million for Q1 2025. As of March 31, 2025, Rigetti had cash, cash equivalents, and available-for-sale investments totaling $209.1 million. Rigetti Computing has announced its Q1 2025 financial results.

A summary of key financial metrics comparing Q1 2025 with Q4 2024 and the year-ago quarter of Q1 2024 is shown in the chart below. Rigetti reported $1.5 million in revenue for Q1 2025, marking a 36% decline from the previous quarter and a 52.5% year-over-year drop. This continues the downward trend in topline performance and reflects the company’s ongoing reliance on a small number of project-based contracts. Operating expenses rose to $22.1 million, up 13.2% from Q4 2024 and 22.0% from Q1 2024, driven by higher R&D expenditures. The operating loss widened to $21.6 million, while the net income was reported at $42.6 million. The net income included a non-cash gain of $61.2 million from the change in fair value of derivative warrant and earn-out liabilities.

As of March 31, cash and investments stood at $209.1 million, slightly down from the prior quarter but more than double the year-ago level, bolstered by strategic equity funding. Rigetti was selected for Stage A of DARPA’s Quantum Benchmarking Initiative, under a six-month, milestone-driven performance contract worth up to $1 million. The company will use this opportunity to further its concept of a Utility-Scale Quantum Computer (USQC), combining a multi-chip modular architecture with scalable quantum error correction (QEC). Rigetti will collaborate with Riverlane, a longtime QEC partner. Additionally, Rigetti was granted a $5.48 million AFOSR award to explore its Alternating-Bias Assisted Annealing (ABAA) fabrication technique, which may improve qubit quality by addressing micro-level defects. Partners include Iowa State, RMIT, University of Connecticut, and Lawrence Livermore National Lab.

We break down the bull and bear cases for RGTI. Get a RGTI stock analysis, free during our launch. See examples. For Uber, investors miss that profits are concentrated in 20 metro markets. See why this makes Uber vulnerable, and what else Wall Street overlooks with Duolingo, Kohl's, and other popular stocks. Revenue plummeted 52% year-over-year in Q1 2025, indicating significant commercialization challenges.

The increase in operating loss by 30% and the cash used in operations rising to $13.7 million highlight worsening operational performance. The dependency on a single customer for 69% of Q1 2025 revenue introduces substantial risk. While net income showed a large gain, this was primarily due to non-cash accounting adjustments rather than operational improvement. Rigetti Computing reports Q1 2025 revenue of $1.5 million and net income of $42.6 million, driven by non-cash gains. Rigetti Computing, Inc. announced its financial results for the first quarter of 2025, reporting total revenues of $1.5 million and an operating loss of $21.6 million amid operating expenses of $22.1 million.

Notably, the company recorded a net income of $42.6 million, bolstered by $62.1 million in non-cash gains from changes in the fair value of derivative liabilities. As of March 31, 2025, Rigetti had $209.1 million in cash and investments, which rose to $237.7 million by April 30 after an investment from Quanta Computer. The company highlighted its participation in pivotal projects, including DARPA’s Quantum Benchmarking Initiative and several Innovate UK awards, aimed at advancing superconducting quantum computing and error correction capabilities. Additionally, Rigetti announced collaborations for chip fabrication technology and integration efforts with various academic institutions and industry partners. Rigetti reported total revenues of $1.5 million and net income of $42.6 million for Q1 2025. As of March 31, 2025, Rigetti had cash, cash equivalents, and available-for-sale investments totaling $209.1 million.

Rigetti is participating in DARPA’s Quantum Benchmarking Initiative and has received awards to develop chip fabrication technology and advance quantum computing. Notes: Q1 GAAP net income reflects $62.1M non-cash gains on warrant/earn‑out fair value changes . CFO cited Q1 gross margin at 30% (vs 49% in Q1’24), pressured by NQCC contract mix . No tax rate, OI&E, margin, dividend or segment guidance was provided.

Rigetti Computing Inc Reports Q1 2025 Revenue Of 1 5 Million M

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