Rigetti Computing (RGTI), one of the leading names from the world of quantum computing, is scheduled to report its results for the fourth quarter of 2025 on Wednesday, March 4, after the market closes. Along with names like Ionq (IONQ) and D-Wave Quantum (QBTS), Rigetti’s name has emerged as one of the potential winners in quantum computing, the next battleground of tech.
Founded in 2013, Rigetti develops superconducting quantum computers and provides access to them through cloud-based platforms. Its business model centers on Quantum Computing-as-a-Service (QCaaS), allowing enterprise, government, and research customers to run quantum algorithms remotely via classical cloud infrastructure.
Notably, Rigetti currently commands a market capitalization of $5.83 billion. RGTI stock has been under pressure this year, falling by 22% on a year-to-date (YTD) basis. However, over the past year, RGTI stock has more than doubled, rallying by 124% in the last 52 weeks.
For the upcoming Q4 report, analysts are looking for a sequential recovery in revenue following a dip in Q3. Investors are particularly focused on whether the company’s recent commercial wins are beginning to hit the top line.
Overall, projections are for revenue of $2.46 million in Q4 and a loss per share of $0.05, narrower than the previous year’s loss of $0.08 per share. After Q3 revenue fell and missed estimates, the market expects Q4 to be bolstered by the $5.8 million Air Force Research Laboratory (AFRL) contract and the delivery of Novera QPU systems.
Specifically, the third quarter saw Rigetti report revenue of $1.9 million, down from $2.4 million in the year-ago period. However, losses narrowed to $0.03 per share from $0.07 in the corresponding period a year ago. Notably, this was the first quarter of narrower-than-expected losses from the company after four consecutive quarters of estimate misses.
Research and development expenses increased by about 18% year-over-year (YOY) to $15 million. This seems to be paying off presently, as Rigetti remains on track to “deploy a 150+ qubit system by or around the end of 2026 with an anticipated 99.7% median two-qubit gate fidelity, and a 1,000+ qubit system by or around the end of 2027 with an anticipated 99.8% median two-qubit gate fidelity.”
