Rigetti Computing Stock Drops After Q1 Earnings Miss

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 (RGTI) reported a profit for its first quarter owing to an accounting gain while revenue missed views as investors focus on the near-term growth and profitability outlook for quantum computing stocks.

The quantum computing company reported Q1 earnings after the market close on Monday. For the March quarter, Rigetti reported a 13-cent profit on an adjusted basis versus… 12/22/2025 Quantum computing stocks got Wall Street's attention in 2025 as JPMorgan, Jefferies, Evercore ISI, Cantor and Mizuho initiated coverage. 12/22/2025 Quantum computing stocks got Wall Street's attention in 2025 as... Get instant access to exclusive stock lists, expert market analysis and powerful tools with 2 months of IBD Digital for only $20! Get market updates, educational videos, webinars, and stock analysis.

Bill McColl has 25+ years of experience as a senior producer and writer for TV, radio, and digital media leading teams of anchors, reporters, and editors in creating news broadcasts, covering some of the... Thomas Fuller / SOPA Images / LightRocket via Getty Images Rigetti Computing (RGTI) shares slumped 10% Tuesday, a day after the provider of quantum computing services' sales sank and its profit came from an accounting gain. The company reported first-quarter revenue plunged 52% year-over-year to $1.5 million. Rigetti did post earnings per share of $0.13, compared to a $0.14 loss the previous year. However, net income of $42.6 million included $62.1 million in "non-cash gains from the change in fair value of derivative warrant and earn-out liabilities."

According to a transcript provided by AlphaSense, CFO Jeffrey Bertelsen told analysts on the earnings call Monday that "lower gross margins on a year-over-year basis were due to ongoing revenues from our contract with... 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) 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 (RGTI) delivered its first quarter 2025 earnings this week, revealing a sharp divide between technical progress and financial performance. Consequently, the stock declined by nearly 15%. The quantum computing company posted a net income of $42.6 million, reversing a $20.8 million loss from the same period last year. But that headline number tells only half the story. Revenue fell to $1.5 million, a 52% drop from the $3.1 million reported in Q1 2024. Gross margin declined to 30%, down from 49% a year ago.

Operating expenses rose 22% year-over-year to $22.1 million, driven by increased research and development spending. Rigetti’s operating loss widened to $21.6 million, suggesting deeper cash burn to sustain its innovation engine. The company’s net income was not driven by core operations, but by a $62.1 million non-cash gain related to the revaluation of derivative warrant and earn-out liabilities. That accounting boost provided temporary relief but did not reflect underlying business growth. Investors reacted swiftly. RGTI shares dropped 14.6% on May 13, closing at $9.87, down from $11.57 before the earnings report.

The decline reflects growing investor concern about falling revenue and rising costs, even as the company posts accounting profits.

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