Rigetti Stock Falls After Q3 Miss But New Quantum Roadmap Sparks

Written by Anders Bylund for The Motley Fool-> Rigetti Computing's stock plummeted 42% in November after reporting an 18% revenue decline and ballooning losses of $201 million in Q3 2025. The company's full-stack approach to quantum computing is impressive, but the technology remains years away from practical commercial advantages over traditional computers. This stock might just be "the next Aurora Cannabis," which would be an unfortunate fate. Shares of quantum computing expert Rigetti Computing (NASDAQ: RGTI) fell 42.2% in November 2025, according to data from S&P Global Market Intelligence. The bearish timeline included a disappointing earnings report, which erased October's 48.6% gain and then some.

Rigetti's stock lost 14.2% of its value across the two-month span from Sept. 30 to Nov. 29. Rigetti Computing shares dropped 2% to $33.08 after releasing third-quarter results. The quantum computing company topped earnings estimates but showed growing operating expenses. The Berkeley-based firm reported an adjusted loss of 3 cents per share on $1.9 million revenue.

Wall Street expected a 5-cent loss on $2.2 million sales. Full-year projections call for a 29-cent per share loss on $8.1 million revenue. That compares to 2024’s 36-cent loss on $10.8 million sales. $RGTI (Rigetti Computing) #earnings are out: pic.twitter.com/qms45UXbgZ — The Earnings Correspondent (@earnings_guy) November 10, 2025 Rigetti Computing Inc.

(NASDAQ:RGTI) shares fell after the company released a mixed third-quarter earnings report after Monday's closing bell. Here's a look at the details in the report. The Details: Rigetti Computing reported quarterly losses of three cents per share, which beat the analyst estimate for losses of four cents. Quarterly revenue came in at $1.94 million, which missed the Street estimate of $2.17 million and was down from revenue of $2.37 million the same period last year. Read Next: Top Stocks With Earnings This Week: Plug, Oklo, Circle And More Oakland, CA – November 13, 2025 – Rigetti Computing (NASDAQ: RGTI), a prominent player in the nascent quantum computing sector, saw its share price plummet by approximately 11% today, extending a week-long losing streak...

This significant downturn follows a series of analyst downgrades and a disappointing third-quarter earnings report, signaling growing investor skepticism regarding the company's valuation and the broader commercial viability of quantum computing in the near... The sharp decline underscores a critical juncture for Rigetti and the wider quantum industry. As the market grapples with the gap between ambitious technological roadmaps and tangible financial performance, the recent events surrounding Rigetti could prompt a re-evaluation of high-growth, pre-profit companies in emerging tech sectors. The current volatility for Rigetti Computing began to escalate in early November with a series of critical reassessments from financial analysts. On November 3rd, B. Riley Securities initiated a notable shift in its stance, downgrading Rigetti from a "Buy" to a "Neutral" rating.

While B. Riley simultaneously raised its price target on RGTI shares from $35 to $42, the rationale behind the downgrade centered on concerns that the stock's explosive rally—a staggering 3,499% over the past year and 190%... government funding authorizations, a crucial revenue stream for the company. This initial downgrade saw RGTI shares slip by 10.26% on the day. Echoing similar sentiments, Raymond James followed suit around November 10th, downgrading RGTI stock from "Buy" to "Hold." Their reasoning largely aligned with B. Riley's, citing persistent government funding delays and the belief that much of the stock's future potential was already factored into its lofty price.

The negative sentiment was further compounded on November 11th when a Seeking Alpha analyst issued a "Sell" rating, pointing to Rigetti's weak financials, characterized by declining revenue and widening losses, an "extremely high valuation"... The company's third-quarter fiscal 2025 results, released after market close on Monday, November 10th, acted as another significant catalyst for the negative market reaction. While Rigetti technically surpassed EPS estimates by reporting a non-GAAP net loss of $0.03 per share (against an expected $0.05), it significantly missed revenue expectations, posting only $1.9 million against a consensus estimate of... This revenue shortfall, an 18% decline year-over-year, contributed to shares falling 2.4% in after-hours trading on Monday. The losses extended into the week, with the stock plunging over 8% on Tuesday, November 11th. By Wednesday, November 12th, Rigetti's shares were down another 9.9% after B.

Riley further cut its price target to $35 from $42, albeit maintaining a neutral rating. The cumulative effect culminated in Rigetti's shares closing down 9.87% today, November 13th, at $28.30 per share, extending its losing streak for a fifth consecutive day.

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