Rigetti (RGTI) Extends Losses by 9% as Earnings Disappoint

Financial Performance - Rigetti Computing, Inc. reported a net loss that widened by 1,258 percent to $200.97 million from $14.8 million in the same period last year [2] - Revenues dropped by 20 percent to $1.9 million from $2.38 million year-on-year [2] Future Outlook - The company is on track to deliver a 100+ qubit chiplet-based quantum system with an anticipated 99.5 percent median two-qubit gate fidelity by the end of 2025 [2] - By the end of 2026, Rigetti targets to deploy a 150+ qubit system with an anticipated 99.7 percent median two-qubit gate fidelity, and a 1,000+ qubit system by the end of 2027 with a projected 99.8 percent median two-qubit gate fidelity [3] Market Demand and Development - The CEO of Rigetti Computing highlighted strong momentum in demand for on-premises quantum computers and collaborations to advance R&D and the quantum ecosystem [4] - The company's open and modular architecture allows for integration of innovative solutions, including projects funded by the Air Force Research Laboratory [5]