TLDR:
- Rigetti sees Q3 losses, but its quantum breakthroughs fuel growth prospects.
- Despite losses, Rigetti’s strategic partnerships promise long-term success.
- Rigetti’s quantum leap: Financial strain balanced by technological milestones.
- Rigetti bets on quantum tech and global expansion to recover from Q3 losses.
- Rigetti’s growth plan: Big contracts, quantum breakthroughs, and global reach.
Rigetti Computing, Inc. (Nasdaq: RGTI) closed at $33.08, down by 2.04% on the market as of the end of trading.
Rigetti Computing, Inc., RGTI
Despite the dip, the company revealed a strong pipeline for future growth through strategic partnerships and technological advancements in quantum computing. Rigetti’s third-quarter results for the period ending September 30, 2025, reflected significant challenges but also highlighted promising opportunities in the quantum space.
Financial Performance and Strategic Growth
For the third quarter of 2025, Rigetti reported total revenues of $1.9 million. The company posted an operating loss of $20.5 million and a GAAP net loss of $201.0 million. While these results indicate significant financial strain, Rigetti’s focus remains on long-term development, with a non-GAAP net loss of $10.7 million. The company continues to build its quantum infrastructure and expand its market footprint, which it believes will lead to greater revenue generation in the coming quarters.
Rigetti’s cash reserves provide some cushion, with approximately $600 million in cash and investments as of November 6, 2025. This includes proceeds of $46.5 million from the exercise of warrants. These financial resources will support ongoing and future R&D projects, key collaborations, and technology upgrades aimed at securing the company’s leadership in quantum computing.
Quantum Computing Advancements and Collaborations
Rigetti’s technological roadmap remains on track, with the company aiming to deliver a 100+ qubit chiplet-based quantum system by the end of 2025. The system is expected to achieve 99.5% median two-qubit gate fidelity, a significant milestone for Rigetti in the competitive quantum sector. By 2027, the company plans to roll out a 1,000+ qubit system, further enhancing its position in the quantum ecosystem.
Collaborations with leading institutions and companies also play a pivotal role in Rigetti’s growth strategy. The company recently secured a $5.8 million contract with the U.S. Air Force Research Laboratory (AFRL) to develop superconducting quantum networking technologies. Additionally, Rigetti is actively working with Montana State University and India’s Centre for Development of Advanced Computing (C-DAC) to further quantum hardware research and hybrid computing systems.
Expanding Global Presence and Market Reach
Rigetti’s global expansion efforts continue to gain momentum. The company is set to open a subsidiary in Italy, aiming to tap into Europe’s growing quantum computing market. This move aligns with Rigetti’s strategy to capitalize on increasing governmental and academic interest in quantum technologies across the region.
The company also received purchase orders for two Novera™ quantum computing systems, totaling $5.7 million. One of these systems is being acquired by an Asian tech manufacturer to further develop internal quantum expertise. The other will be used by a California-based AI startup for quantum hardware and error correction research. These orders underscore the growing demand for Rigetti’s quantum solutions and highlight the increasing application of quantum computing in various industries.
Rigetti Computing is building a solid foundation for future growth through innovation, strategic partnerships, and global expansion. The company’s ability to secure key contracts and technological advancements positions it well for long-term success in the rapidly evolving quantum computing sector.
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