Overview
- Rigetti reported an adjusted loss of $0.03 per share, topping estimates, on revenue of about $1.94 million that missed expectations and declined from $2.37 million a year ago.
- Operating losses widened to $20.5 million in Q3, and the company recorded a GAAP net loss of $201.0 million for the quarter.
- Management outlined targets for a 100+ qubit chiplet system by end‑2025, a 150+ qubit system by late 2026 with ~99.7% median two‑qubit gate fidelity, and a 1,000+ qubit system by end‑2027 with ~99.8% fidelity.
- The company disclosed two purchase orders totaling $5.7 million for 9‑qubit Novera systems, with deliveries planned for the first half of 2026.
- Rigetti said it holds roughly $600 million in cash and investments, guided to at least 12 months of runway, saw shares fall after the release, and drew mixed analyst views including a B. Riley downgrade and a Craig‑Hallum Buy reaffirmation.