Rigetti Computing (NASDAQ:RGTI) Issues Quarterly Earnings Results

Rigetti Computing (NASDAQ:RGTI) posted its earnings results on Thursday. The company reported ($0.05) 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 company had revenue of $5.14 million for the quarter, compared to the consensus estimate 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%

NASDAQ RGTI traded up $1.41 during trading on Friday, hitting $17.94. The stock had a trading volume of 29,936,801 shares, compared to its average volume of 21,786,144. The firm has a 50 day moving average price of $18.28 and a 200 day moving average price of $18.06. Rigetti Computing has a twelve month low of $12.53 and a twelve month high of $58.15. The company has a market capitalization of $5.96 billion, a PE ratio of -19.93 and a beta of 1.99.

Rigetti Computing News Summary

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

Insider Buying and Selling at Rigetti Computing

In other news, CTO David Rivas sold 499,328 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $25.40, for a total transaction of $12,682,931.20. Following the sale, the chief technology officer owned 325,945 shares of the company’s stock, valued at approximately $8,279,003. This represents a 60.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray O. Johnson sold 122,188 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $21.30, for a total value of $2,602,604.40. Following the completion of the sale, the director owned 171,273 shares in the company, valued at approximately $3,648,114.90. The trade was a 41.64% 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 728,901 shares of company stock valued at $17,546,343 in the last 90 days. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RGTI. Heritage Wealth Advisors increased its holdings in Rigetti Computing by 454.3% during the 4th quarter. Heritage Wealth Advisors now owns 1,164 shares of the company’s stock worth $26,000 after purchasing an additional 954 shares during the period. EFG International AG acquired a new stake in shares of Rigetti Computing in the 4th quarter valued at $28,000. Danske Bank A S acquired a new stake in shares of Rigetti Computing in the 3rd quarter valued at $30,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Rigetti Computing by 180.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,334 shares of the company’s stock worth $30,000 after purchasing an additional 858 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Rigetti Computing by 403.2% during the third quarter. Parallel Advisors LLC now owns 1,087 shares of the company’s stock worth $32,000 after purchasing an additional 871 shares in the last quarter. 35.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RGTI shares. Wedbush initiated coverage on Rigetti Computing in a report on Monday, August 3rd. They set an “outperform” rating and a $40.00 price target for the company. Wall Street Zen cut shares of Rigetti Computing from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings raised shares of Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. Jefferies Financial Group reiterated a “hold” rating and set a $18.00 price target on shares of Rigetti Computing in a research report on Friday. Finally, Mizuho reduced their price target on shares of Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.67.

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.