University of Kwazulu-Natal

Rigetti Computing Q3 2025 Earnings Call Transcript Rgti

Bonisiwe Shabane
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rigetti computing q3 2025 earnings call transcript rgti

Explore more earnings information and financial data for RGTI 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. 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. 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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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 statemen...