Rigetti(US:RGTI) 智通财经网·2025-08-12 23:45Core Viewpoint - Rigetti Computing reported a larger-than-expected loss for Q2 2025, with significant revenue decline and a focus on advancing its quantum computing technology [1][2]. Financial Performance - The company reported an adjusted loss per share of $0.13, compared to the market expectation of a loss of $0.04 [1]. - Total revenue for the quarter was $1.8 million, a year-over-year decrease of 41.9%, falling short of the expected $1.87 million [1]. - Net loss for the quarter was $39.7 million, which included a non-cash loss of $22.8 million related to warrant derivatives and fair value changes [1]. - Operating expenses were $20.4 million, leading to an operating loss of $19.9 million [1]. - Rigetti completed a $350 million equity financing, enhancing its financial position, and reported approximately $571.6 million in cash and equivalents with no debt as of June 30, 2025 [1]. Technological Advancements - Rigetti introduced its multi-chip quantum computer "Cepheus-1-36Q," claiming it to be the largest in the industry, featuring four small chips with a median two-qubit gate fidelity of 99.5% [2]. - The error rate of the new system is reduced by half compared to the previous Ankaa-3 system [2]. - The company plans to launch a system with over 100 qubits by the end of 2025, maintaining a median two-qubit gate fidelity of 99.5% [2]. - The quantum computing systems leverage quantum mechanics properties, potentially surpassing traditional computing capabilities in specific areas [2]. Industry Context - Despite advancements, no company has yet achieved practical, large-scale quantum computing with precise control over quantum states [3]. - Industry leaders like NVIDIA and Microsoft are pushing towards significant technological breakthroughs in quantum computing [4]. - The quantum technology investment surge has led to a dramatic increase in Rigetti's stock price, which has risen over 1700% in the past year, although it saw a 3.5% drop post-earnings announcement [4].