Rigetti Computing (NASDAQ:RGTI) Issues Quarterly Earnings Results

Rigetti Computing (NASDAQ:RGTI) posted its earnings results on Thursday. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05), FiscalAI reports. Rigetti Computing had a negative return on equity of 17.82% and a negative net margin of 2,189.54%.The firm had revenue of $5.14 million during the quarter, compared to analysts’ expectations of $5.09 million.

Here are the key takeaways from Rigetti Computing’s conference call:

• Revenue rose to $5.1 million from $1.8 million year over year, driven by Novera QPU sales, while gross margin improved to approximately 43% from 31%.
• Rigetti remains on track to recognize the $8.4 million C-DAC 108-qubit system order in the fourth quarter and plans to deliver a full 9-qubit Novera system to the HPE/Pittsburgh Supercomputing Center hybrid-computing testbed in 2027.
• A Department of Commerce letter of intent could provide up to $100 million over three years to accelerate chiplet-based superconducting quantum computing development, although the funding is not yet definitive and would involve equity issuance.
• Rigetti reported median two-qubit fidelity of roughly 99.1% on its 108-qubit Cepheus system and expects further improvement before year-end; however, management acknowledged that customers are still primarily conducting research rather than commercially valuable quantum-advantage workloads.
• Operating expenses increased to $30.3 million and the non-GAAP net loss widened to approximately $16 million, while cash and investments declined to $541.3 million from $589.8 million at year-end as the company invests heavily in R&D, fabrication, and refrigeration infrastructure.

Rigetti Computing Stock Up 8.5%

Shares of RGTI stock traded up $1.41 on Friday, reaching $17.94. The stock had a trading volume of 29,936,801 shares, compared to its average volume of 21,786,144. The firm’s 50-day moving average is $18.28 and its two-hundred day moving average is $18.06. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of -19.93 and a beta of 1.99. Rigetti Computing has a 12 month low of $12.53 and a 12 month high of $58.15.

Insider Activity

In other Rigetti Computing news, CFO Jeffrey A. Bertelsen sold 3,682 shares of Rigetti Computing stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $22.95, for a total transaction of $84,501.90. Following the completion of the transaction, the chief financial officer directly owned 171,927 shares of the company’s stock, valued at $3,945,724.65. The trade was a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ray O. Johnson sold 84,944 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $20.55, for a total transaction of $1,745,599.20. Following the completion of the transaction, the director owned 95,537 shares in the company, valued at approximately $1,963,285.35. This represents a 47.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 728,901 shares of company stock valued at $17,546,343 over the last three months. Insiders own 1.60% of the company’s stock.

Institutional Trading of Rigetti Computing

Hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC boosted its holdings in shares of Rigetti Computing by 312.1% during the 4th quarter. Corient Private Wealth LLC now owns 61,759 shares of the company’s stock worth $1,368,000 after buying an additional 46,774 shares during the period. Vident Advisory LLC raised its holdings in Rigetti Computing by 2.8% in the 4th quarter. Vident Advisory LLC now owns 44,611 shares of the company’s stock valued at $988,000 after acquiring an additional 1,218 shares during the period. Voloridge Investment Management LLC acquired a new stake in Rigetti Computing during the fourth quarter worth approximately $23,459,000. Wellington Management Group LLP boosted its holdings in shares of Rigetti Computing by 27.3% during the fourth quarter. Wellington Management Group LLP now owns 1,007,337 shares of the company’s stock worth $22,313,000 after acquiring an additional 215,817 shares during the period. Finally, SummitTX Capital L.P. bought a new stake in shares of Rigetti Computing during the fourth quarter worth approximately $1,559,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RGTI shares. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price objective on shares of Rigetti Computing in a research report on Friday. Wall Street Zen lowered shares of Rigetti Computing from a “hold” rating to a “sell” rating in a research note on Saturday. Northland Securities initiated coverage on Rigetti Computing in a research note on Monday, April 20th. They issued a “market perform” rating and a $20.00 price target on the stock. Mizuho decreased their price objective on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Finally, Wedbush started coverage on Rigetti Computing in a research report on Monday, August 3rd. They set an “outperform” rating and a $40.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Rigetti Computing currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

Rigetti Computing News Roundup

Here are the key news stories impacting Rigetti Computing this week:

• Positive Sentiment: Commercial momentum is improving. Second-quarter revenue rose 185.3% year over year to approximately $5.14 million, slightly exceeding consensus expectations. Wedbush said shipments of Rigetti’s Novera quantum systems are driving a more commercial revenue mix, while other coverage highlighted major quantum-computing orders. Rigetti Computing Q2 Shows Commercial Mix Inflection Rigetti Stock Rises as Major Quantum Orders Fuel Growth
• Positive Sentiment: Analyst support added to the bullish case. Rosenblatt Securities reaffirmed its “buy” rating and maintained a $40 price target, implying substantial upside from the stock’s recent level. Broader investor interest in quantum-computing stocks is also being supported by expectations for progress toward a potential “quantum advantage” milestone in 2026. Rosenblatt Rating Update Quantum Computing Stocks With Analyst Upside
• Positive Sentiment: Rigetti reported technology and strategic progress. The company cited improving quantum performance, continued development of its technology roadmap, partnerships including Hewlett Packard Enterprise, and potential U.S. government research support of up to $100 million. It ended June with approximately $541.3 million in cash and no debt, providing financial flexibility. Rigetti Computing Reports Second Quarter Results

Rigetti Computing Company Profile

Rigetti Computing is a pioneering quantum computing company that designs and manufactures superconducting quantum processors alongside a complementary software stack. Founded in 2013 by CEO Chad Rigetti, the company has developed end-to-end quantum systems—from cryogenic hardware to control electronics—to advance the performance and scalability of quantum machines.

At the core of Rigetti’s offering is its Quantum Cloud Services (QCS) platform, which enables developers and enterprises to access quantum processing units (QPUs) and hybrid quantum-classical workflows via the cloud.