Rigetti Computing Inc Rgti Earnings Call Transcripts Seeking Alpha

Browse and read full earnings call transcripts Rigetti Computing, Inc. (NASDAQ:RGTI) reported its second-quarter financial results after the closing bell on Tuesday. Below are the transcripts from the second quarter earnings call. This transcript is brought to you by Benzinga APIs. For real-time access to our entire catalog, please visit https://www.benzinga.com/apis/ for a consultation.

Good day and thank you for standing by. Welcome to The Rigetti Computing Second Quarter 2025 Financial Results Conference call. At this time all participants are in a listen only mode. After the speaker’s presentation there will be a question and answer session. To ask a question during the session you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised to withdraw your question.

Please press star 11 again. Please be advised that today’s conference is being recorded. I would now like to hand the conference over to your speaker today, Dr. Subodh Kulkarni, Chief Executive Officer. Please go ahead. Good afternoon and thank you for participating in Rigetti’s earnings conference call covering the second quarter ended June 30, 2025.

Joining me today is Jeff Bertelsen, our CFO who will review our results in some detail following my overview. Our CTO David Rivas is also here to participate in the Q and A session. We will be pleased to answer your questions at the conclusion of our remarks. We would like to point out that this call and Rigetti’s second quarter ended June 30, 2025 press release contain forward looking statements regarding current expectations, objectives and underlying assumptions regarding our outlook and... These forward looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described and are discussed in more detail in our Form 10K... These filings identify and address important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward looking statements.

We urge you to review these discussions of risk factors today. I’m pleased to report that we continue to achieve our ambitious roadmap goals and maintain our momentum on the technology front, most recently by demonstrating the industry’s largest multi chip quantum computer with impressive... Our Multi chip Quantum Computer CPS 136Q, the industry’s largest multi chip quantum computer, is released for general availability and deployed on the Rigetti quantum cloud services platform QCS and will be available on... Just six months after our record performance with Aspen M-3, we have once again halved our error rates with a median 2.99.5% CPS 136Q has achieved a 2x reduction in 2 qubit gate error... CPS 136Q is the first multi chip quantum computer in the industry to achieve this level of performance with 4 chips. CPS 136Q contains the largest number of chiplets in a quantum computer and further validates our approach to scaling Rigetti’s quantum computers.

It’s our view that superconducting qubits are the leading modality for quantum computers due to their ability to scale and their ability to achieve gate speeds more than 1,000 times faster than other modalities... Our superconducting qubits leverage technologies like chiplets that have been maturing in the semiconductor industry for decades. Use of these well established methods enables Rigetti to scale its quantum computers to higher levels of performance and qubit counts. This legacy of technological advancement continues with the CPS one architecture and includes the following features that contribute to improved performance. Transitioning from a monolithic chip to chiplets enables greater control over chip uniformity which in turn improves performance. Leveraging chiplets also reduces manufacturing complexity and improves fabrication yield.

Optimized two qubit gates enable faster gate times while reducing coherent errors which improves fidelity and is important for executing quantum error correction techniques. These improvements enabled a 2x reduction in error rates. Advances in multi layer chip and tunable coupler design also enables higher performance. Our industry leading proprietary chiplet approach to scaling makes us confident that we will hit our end of year technology goals. We believe quadrupling or chiplet count and significantly decreasing error rates is a clear path towards quantum advantage and fault tolerance. We intend to continue our momentum and expect to release a 100 plus Qubit chiplet based system at 99.5% median two Qubit gate fidelity before the end of 2025.

While we are pleased with our sequential growth in quarterly revenues, we believe achievement of our technology milestones remains the key metric to achieving our long term success. On the financing front, I’m pleased to report that Rigetti has significantly strengthened its balance sheet. During the second quarter of 2025 Rigetti completed the sales of 350 million gross proceeds of its common stock pursuant to our previously disclosed at the Market Equity Offering program. We are well positioned to support commercial scale up of our superconducting gate based quantum computers. Thank you Jeff. Will now make a few remarks regarding our recent financial performance.

Rigetti Computing, Inc. (NASDAQ:RGTI) Q3 2025 Earnings Call Transcript November 11, 2025 Operator: Good day, and thank you for standing by. Welcome to the Rigetti Computing Third Quarter 2025 Financial Results Conference Call. [Operator Instructions] Please be advised that today’s conference is being recorded. I would now like to hand the conference over to your first speaker today, Dr.

Subodh Kulkarni, Chief Executive Officer. Please go ahead. Subodh Kulkarni: Good morning, and thank you for participating in Rigetti’s earnings conference call covering the third quarter ended September 30, 2025. Joining me today is Jeff Bertelsen, our CFO, who will review our results in some detail following my overview. Our CTO, David Rivas, is also here to participate in the Q&A session. We will be pleased to answer your questions at the conclusion of our remarks.

We would like to point out that this call and Rigetti’s third quarter ended September 30, 2025 press release contains forward-looking statements regarding current expectations, objectives and underlying assumptions regarding our outlook and future... These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described and are discussed in more detail in our Form 10-K for... These filings identify and address important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. We urge you to review these discussions of risk factors. During today’s call, we will refer to certain non-GAAP financial measures. For details on these measures and reconciliations to comparable GAAP measures and for further information regarding the factors that may affect Rigetti’s future operating results, please refer to yesterday’s earnings release on Rigetti’s website...

Today, I’m pleased to report that during this past quarter, 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... On the technology front, we remain on track to deliver our 100-plus qubit chiplet-based quantum system with an anticipated 99.5% median 2-qubit gate fidelity by the end of 2025. I’m also excited to share our 2026, 2027 road map updates. We expect to deploy a 150-plus qubit system by or around the end of 2026, with an anticipated 99.7% median 2-qubit gate fidelity. And by or around the end of 2027, we expect to deploy a 1,000-plus qubit system with an anticipated 99.8% median 2-qubit gate fidelity. In September 2025, we announced purchase orders totaling approximately $5.7 million for 2 9-qubit Novera quantum computing systems.

Both systems are upgradable, allowing the customers to increase the system qubit count for more complex computations and research.

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