Quantum computing firm Rigetti misses Q3 revenue estimates

Rigetti Computing

10/11/2025 21:21

Overview

Rigetti Q3 revenue misses analyst expectations, adjusted EPS beats estimates

Company reports operating loss of $20.5 mln for Q3

Rigetti secures $5.7 mln in purchase orders for quantum systems

Outlook

Rigetti expects to deliver 100+ qubit system with 99.5% fidelity by end of 2025

Company plans 150+ qubit system by end of 2026 with 99.7% fidelity

Rigetti plans to open Italian subsidiary to accelerate business opportunities

Result Drivers

QUANTUM DEMAND - Strong demand for on-premises quantum computers contributed to revenue, per CEO Dr. Subodh Kulkarni

COLLABORATIONS - Collaborations with AFRL, QphoX, and NVIDIA to advance quantum networking and hybrid computation development

PURCHASE ORDERS - Secured $5.7 mln in purchase orders for two quantum computing systems, indicating growing interest in technology

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$1.9 mln
$2.17 mln (7 Analysts)
Q3 Adjusted EPS
Beat
-$0.03
-$0.04 (6 Analysts)
Q3 Operating Income
-$20.5 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the semiconductors peer group is "buy"

Wall Street's median 12-month price target for Rigetti Computing Inc is $31.00, about 8.9% below its November 7 closing price of $33.77

Press Release: ID:nGNX11CkNl

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)