Rigetti Computing (NASDAQ:RGTI – Get Free Report) released its quarterly earnings data on Monday. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01, FiscalAI reports. Rigetti Computing had a negative return on equity of 14.91% and a negative net margin of 3,111.92%.The company had revenue of $4.40 million for the quarter, compared to the consensus estimate of $4.09 million.
Here are the key takeaways from Rigetti Computing’s conference call:
- Cepheus-1-108Q is now generally available on Rigetti QCS, Amazon Braket, Microsoft Azure Quantum and qBraid — a 108‑qubit, 12×9‑chiplet modular system reporting ~99.1% median two‑qubit fidelity and ~99.9% single‑qubit fidelity with ~60 ns gate speeds, validating their chiplet scaling approach.
- Q1 revenue rose to $4.4M (from $1.5M a year ago) driven by on‑premises Novera QPU deliveries, with the company expecting the remainder of announced Novera revenue in Q2 and an $8.4M C‑DAC system to be recognized in Q4.
- Rigetti ended Q1 with approximately $569M in cash and available‑for‑sale investments, no debt, and announced plans to invest up to $100M in the U.K., giving management confidence in funding R&D and international expansion.
- Operating expenses increased to $27.3M and non‑GAAP net loss was $14.7M for the quarter; management warns of elevated 2026 CapEx for fab upgrades and dilution refrigerators, which could pressure near‑term profitability.
- Technically they say chiplet scaling and tunable‑coupler issues have been addressed, but coherence time remains the primary fidelity limit and the roadmap to “quantum advantage” (~1,000 qubits at ~99.9% two‑qubit fidelity) in roughly three years remains ambitious and dependent on further advances.
Rigetti Computing Trading Up 8.3%
Rigetti Computing stock traded up $1.57 during midday trading on Monday, reaching $20.51. The stock had a trading volume of 44,189,082 shares, compared to its average volume of 29,792,426. Rigetti Computing has a 12 month low of $9.85 and a 12 month high of $58.15. The company has a market capitalization of $6.81 billion, a P/E ratio of -30.16 and a beta of 1.79. The company has a fifty day moving average price of $16.41 and a two-hundred day moving average price of $22.36.
Insider Transactions at Rigetti Computing
Institutional Trading of Rigetti Computing
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC increased its holdings in 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 purchasing an additional 46,774 shares in the last quarter. Vident Advisory LLC increased its holdings in Rigetti Computing by 2.8% during the 4th quarter. Vident Advisory LLC now owns 44,611 shares of the company’s stock worth $988,000 after purchasing an additional 1,218 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in Rigetti Computing during the 4th quarter worth approximately $23,459,000. Wellington Management Group LLP increased its holdings in Rigetti Computing by 27.3% during the 4th quarter. Wellington Management Group LLP now owns 1,007,337 shares of the company’s stock worth $22,313,000 after purchasing an additional 215,817 shares in the last quarter. Finally, SummitTX Capital L.P. bought a new stake in Rigetti Computing during the 4th quarter worth approximately $1,559,000. 35.38% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on RGTI shares. Rosenblatt Securities reissued a “buy” rating and set a $40.00 price objective on shares of Rigetti Computing in a report on Thursday, March 5th. Wedbush raised their price objective on Rigetti Computing from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Northland Securities started coverage on Rigetti Computing in a report on Monday, April 20th. They set a “market perform” rating and a $20.00 price objective on the stock. Benchmark cut their price objective on Rigetti Computing from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, March 20th. Finally, Wall Street Zen downgraded Rigetti Computing from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Rigetti Computing has a consensus rating of “Moderate Buy” and an average target price of $30.64.
Read Our Latest Research Report on Rigetti Computing
About Rigetti Computing
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.
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