Core Insights - Rigetti Computing, Inc. reported strong momentum in demand for its quantum computers and collaborations to enhance R&D and the quantum ecosystem [3][5] - The company is on track to deliver a 100+ qubit chiplet-based quantum system by the end of 2025, with a median two-qubit gate fidelity of 99.5% [5][6] - Rigetti secured purchase orders totaling approximately $5.7 million for two 9-qubit Novera™ quantum computing systems, expected to be delivered in the first half of 2026 [7][8] Financial Highlights - Total revenues for Q3 2025 were $1.9 million, with an operating loss of $20.5 million [9] - GAAP net loss for the quarter was $201.0 million, translating to a net loss per share of $(0.62) [9][28] - As of September 30, 2025, cash, cash equivalents, and available-for-sale investments totaled $558.9 million, increasing to approximately $600.0 million by November 6, 2025 [9] Technology and Development - The company plans to deploy a 150+ qubit system by the end of 2026 and a 1,000+ qubit system by the end of 2027, with anticipated median two-qubit gate fidelities of 99.7% and 99.8%, respectively [6] - Rigetti is collaborating with QphoX on a $5.8 million AFRL contract to advance superconducting quantum networking [11] - The company is also engaged with DARPA on the Quantum Benchmarking Initiative, with ongoing discussions for future participation [12] Partnerships and Collaborations - New collaborations with the Centre for Development of Advanced Computing (C-DAC) and Montana State University (MSU) aim to advance quantum computing capabilities in academic and government sectors [5][14][16] - Rigetti supports NVIDIA's NVQLink platform for AI supercomputer-quantum integration, which is expected to enhance hybrid computation development [13] - The company plans to open an Italian subsidiary to pursue business opportunities and talent in the region [10]