Rigetti Computing Reports Fourth Quarter and Full-Year 2025 Financial Results

Core Insights - Rigetti Computing achieved significant advancements in quantum computing technology, including a two-qubit gate fidelity of 99.9% at a gate speed of 28 nanoseconds, indicating strong progress in their quantum-classical computing strategy [3][12]. Financial Performance - For Q4 2025, total revenues were $1.9 million, with an operating loss of $22.6 million and a GAAP net loss of $18.2 million, translating to a net loss per share of $(0.06) [9][30]. - For the full year 2025, total revenues amounted to $7.1 million, with a GAAP net loss of $216.2 million and a net loss per share of $(0.70) [9][30]. Business Developments - Rigetti secured an $8.4 million purchase order from India's Centre for Development of Advanced Computing for a 108-qubit on-premises quantum system, expected to be deployed in H2 2026 [7]. - The company anticipates significant revenue growth in Q1 2026, driven by previously announced orders totaling $5.7 million for Novera on-premises systems [6]. Technology Advancements - Rigetti's chiplet-based architecture is highlighted as a scalable solution for large-scale quantum systems, allowing for increased qubit counts while maintaining control over chip uniformity [5][13]. - The company continues to improve fidelity across its systems, achieving 99.9% one-qubit gate fidelity and median two-qubit gate fidelities of 99.7% on its 9-qubit system and 99.6% on its 36-qubit system [12]. Strategic Partnerships - Rigetti's ecosystem of partners, including Riverlane, NVIDIA, Quanta Computer, and QphoX, enhances its innovation capabilities across the quantum computing stack [5][6].