Rigetti S Q2 2025 Quantum Breakthroughs Financial Setbacks

Bonisiwe Shabane

-Jan 2, 2026, 5:41 PM

rigetti s q2 2025 quantum breakthroughs financial setbacks

Rigetti Computing, Inc., a pioneer in full-stack quantum-classical computing, today announced its financial results for the second quarter ended June 30, 2025. Severe revenue decline: Q2 revenue was $1.8M, down ~42% YoY from $3.1M. Reliance on government contracts: 91.7% of Q2 revenue came from government entities, signaling weak diversification. Gross margin collapse: Gross profit fell to $0.57M (31% margin) from $1.99M (65% margin)… BERKELEY, Calif., August 12, 2025 -- Rigetti Computing, Inc. (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, today announced its financial results for the second quarter ended June 30, 2025.

Second Quarter 2025 and Recent Financial Highlights “We continue to achieve our ambitious roadmap goals, most recently by demonstrating the industry’s largest multi-chip quantum computer with impressive performance. Our industry-leading proprietary chiplet approach to scaling and strong financial position makes us confident in hitting our end-of-year technology goals,” says Dr. Subodh Kulkarni, Rigetti CEO. Rigetti’s Multi-Chip Quantum Computer, Cepheus-1-36Q, 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 Microsoft Azure Thereafter With the general availability of Cepheus-1-36Q, Rigetti continues its recent improvements in performance, obtaining a 2x reduction in two-qubit gate error rate from its previous Ankaa-3 system, and achieving a median two-qubit gate fidelity...

Cepheus-1-36Q is the first multi-chip quantum computer in the industry to achieve this level of performance, and with four chips, contains the largest number of chiplets in a quantum computer. This further validates Rigetti’s approach to scaling its quantum computing systems. BERKELEY, Calif., Aug. 12, 2025 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (RGTI) (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, today announced its financial results for the second quarter ended June 30, 2025. Second Quarter 2025 and Recent Financial Highlights

“We continue to achieve our ambitious roadmap goals, most recently by demonstrating the industry’s largest multi-chip quantum computer with impressive performance. Our industry-leading proprietary chiplet approach to scaling and strong financial position makes us confident in hitting our end-of-year technology goals,” says Dr. Subodh Kulkarni, Rigetti CEO. Rigetti’s Multi-Chip Quantum Computer, Cepheus™-1-36Q, 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 Microsoft Azure Thereafter With the general availability of Cepheus-1-36Q, Rigetti continues its recent improvements in performance, obtaining a 2x reduction in two-qubit gate error rate from its previous Ankaa™-3 system, and achieving a median two-qubit gate fidelity... Cepheus-1-36Q is the first multi-chip quantum computer in the industry to achieve this level of performance, and with four chips, contains the largest number of chiplets in a quantum computer.

This further validates Rigetti’s approach to scaling its quantum computing systems. Rigetti Computing has announced its Q2 2025 financial results. The table below summarizes key financial metrics for Q2 2025, with comparisons to the prior quarter (Q1 2025) and the year-ago quarter (Q2 2024). Rigetti reported revenue of $1.8 million for Q2 2025, a 20.0% increase from the previous quarter, but a 41.9% decline from the year-ago quarter. This indicates continued quarter-to-quarter revenue volatility, with a sustained downward trend on a year-over-year basis. Operating expenses for the quarter were $20.4 million, down 7.7% from Q1 2025, but still up 12.7% from Q2 2024 as the company maintains its investment in R&D and operations.

The operating loss narrowed slightly to ($19.9) million from Q1, but the net loss for the quarter widened significantly to ($39.7) million, primarily due to a $22.8 million non-cash loss from the change in... The most significant financial highlight was the company’s liquidity position, which was dramatically bolstered by a $350 million at-the-market (ATM) equity offering. This brought Rigetti’s cash, cash equivalents, and available-for-sale investments to a record $571.6 million as of June 30, 2025, with no debt. This provides a substantial financial runway for the company’s aggressive technology roadmap and strategic goals. With its newly strengthened balance sheet, Rigetti is well-positioned to fund its ambitious technology roadmap, including the upcoming 100+ qubit system, and explore potential strategic collaborations. The company’s chiplet approach is unique and now that they have the Cepheus-1-36Q system with 4 chiplets connected together, they are proceeding to the next version which will have 16 chiplets connected.

It will be interesting to see how far Rigetti can take this approach before they run into other issues such as wiring complexity or cooling capacity in the dilution refrigerators. Rigetti Computing reported Q2 2025 revenues of $1.8 million, a net loss of $39.7 million, and strong cash reserves. Rigetti Computing, Inc. announced its financial results for the second quarter ended June 30, 2025, reporting total revenues of $1.8 million against operating expenses of $20.4 million, resulting in an operating loss of $19.9 million and a... The net loss includes $22.8 million in non-cash losses from changes in fair value of certain liabilities. Rigetti highlighted the launch of its Cepheus-1-36Q, the industry’s largest multi-chip quantum computer, which now operates at a median two-qubit gate fidelity of 99.5%, showcasing significant performance improvements.

The company completed a $350 million equity raise, enhancing its cash position to $571.6 million, and plans to utilize these funds for capital expenditures and potential collaborations. CEO Dr. Subodh Kulkarni expressed confidence in achieving year-end technology goals and continuing to advance their quantum computing technologies. A conference call to discuss the results further is scheduled for later the same day. Rigetti reported total revenues of $1.8 million and a net loss of $39.7 million for Q2 2025. Cepheus-1-36Q is the industry's largest multi-chip quantum computer, achieving a median two-qubit gate fidelity of 99.5%.

The proceeds from the equity raise will primarily support working capital and capital expenditures, with potential strategic partnerships. BERKELEY, Calif., Aug. 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 second quarter ended June 30, 2025. Second Quarter 2025 and Recent Financial Highlights "We continue to achieve our ambitious roadmap goals, most recently by demonstrating the industry's largest multi-chip quantum computer with impressive performance.

Our industry-leading proprietary chiplet approach to scaling and strong financial position makes us confident in hitting our end-of-year technology goals," says Dr. Subodh Kulkarni, Rigetti CEO. Rigetti's Multi-Chip Quantum Computer, Cepheus™-1-36Q, 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 Microsoft Azure Thereafter With the general availability of Cepheus-1-36Q, Rigetti continues its recent improvements in performance, obtaining a 2x reduction in two-qubit gate error rate from its previous Ankaa™-3 system, and achieving a median two-qubit gate fidelity... Cepheus-1-36Q is the first multi-chip quantum computer in the industry to achieve this level of performance, and with four chips, contains the largest number of chiplets in a quantum computer. This further validates Rigetti's approach to scaling its quantum computing systems.

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Rigetti S Q2 2025 Quantum Breakthroughs Financial Setbacks

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