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Rigetti Computing Slumps After Q1 Results Seeking Alpha

Bonisiwe Shabane
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rigetti computing slumps after q1 results seeking alpha

Rigetti Computing, Inc. (NASDAQ:RGTI) released its first-quarter results after Monday's closing bell. Here's a look at the details of the report. The Details: Rigetti reported quarterly earnings of 13 cents per share, which beat the analyst consensus estimate of losses of six cents. Quarterly revenue came in at $1.47 million, which missed the analyst consensus estimate of $2.55 million and is down from revenue of $3.05 million from the same period last year. Read Next: Tesla Robotaxi Hopes Dashed By Uber, Lyft: No Fast Lane To Profits, Warns Investor Gary Black

“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 Computing Inc.

(RGTI) is navigating a pivotal moment in the quantum computing landscape, with its stock reflecting both market volatility and strategic progress. Trading at $10.25 in Tuesday’s pre-market session, down over 11% after closing the prior session at $11.55 with a 9.17% gain, the company’s valuation mirrors investor reactions to its recent financial performance and broader... For the first quarter ended March 31, 2025, Rigetti reported total revenues of $1.5 million, highlighting the early commercial phase of quantum computing. The company posted a $0.13 profit on an adjusted basis, compared to a $0.14 loss in the same period last year. Wall Street analysts had forecast a 5-cent loss on revenue of $2.6 million. Operating expenses reached $22.1 million, contributing to an operating loss of $21.6 million.

However, a striking net income of $42.6 million was driven by $62.1 million in non-cash gains from revaluing derivative warrant and earn-out liabilities, highlighting the impact of accounting adjustments on reported profitability. Financially, Rigetti remains well-capitalized, with $209.1 million in cash, cash equivalents, and available-for-sale investments as of March 31, 2025. This liquidity was further bolstered to $237.7 million by April 30, 2025, following a $35 million share purchase by Taiwan-based Quanta Computer, Inc., signaling strong external confidence in Rigetti’s trajectory. The company’s focus on superconducting quantum computing, a field poised for breakthroughs in computational power, positions it as a key player despite current revenue constraints. Dr. Subodh Kulkarni, Rigetti’s CEO, emphasized the company’s leadership, citing government-funded projects in the U.S.

and U.K. These initiatives validate Rigetti’s technological edge and its modular, open-system architecture, which facilitates scalability to higher qubit counts—a critical factor for quantum advantage. Rigetti’s in-house expertise and partnerships, including with Quanta, enhance its ability to innovate in a competitive sector where companies like IBM (IBM) and Google (GOOGL) also vie for dominance. While the quantum computing market is projected to grow significantly, driven by applications in cryptography and materials science, Rigetti’s path hinges on translating technical milestones into sustained revenue growth. For now, its robust cash reserves and strategic alliances provide a foundation to weather market fluctuations and advance its mission in this transformative industry. WallStreetPit does not provide investment advice.

All rights reserved. Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support! Rigetti Computing, Inc. (RGTI) stock was among the top five trending tickers on Stocktwits late Monday after the full-stack quantum computing company announced its quarterly results.

The Berkeley, California-based company reported earnings of $38.26 million or $0.13 per share for the first quarter of the fiscal year 2025, reversing from the net loss of $20.77 million or $0.14 per share... The company clarified that the quarter's net loss included $62.1 million in non-cash gains from the change in fair value of derivative warrants and earn-out liabilities. According to Koyfin, the bottom-line result would have been a loss of $0.08 excluding the gain, wider than the $0.04 loss expected by analysts. Revenue fell about 52% year over year (YoY) to $1.47 million, missing the Finchat-compiled consensus estimate of $2.55 million. Rigetti Computing Inc. (NASDAQ: RGTI) lost as much as 12% on Tuesday after reporting its financial results for the first quarter, which disappointed across the board.

In Q1, the quantum technology company brought in $1.5 million in revenue, which translates to a more than 50% decline on a year-over-year basis and a 35% decline sequentially. Analysts had called for a much higher $2.6 million in revenue for RGTI’s recently concluded quarter. Including today’s loss, Rigetti Computing stock is down nearly 50% versus the start of 2025. Proponents of RGTI are cheering 13 cents a share of profit (adjusted) that the Nasdaq-listed firm reported for its fiscal Q1 on Tuesday.

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