Rigetti Computing (NASDAQ:RGTI) Releases Earnings Results, Beats Expectations By $0.01 EPS

Rigetti Computing (NASDAQ:RGTI) posted its earnings results on Monday. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01, FiscalAI reports. Rigetti Computing had a negative return on equity of 10.90% and a negative net margin of 2,789.71%.The company had revenue of $4.40 million during the quarter, compared to the consensus estimate of $4.09 million. During the same quarter last year, the firm earned ($0.05) earnings per share. The company’s revenue was up 198.9% on a year-over-year basis.

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 Down 3.4%

Rigetti Computing stock traded down $0.65 during midday trading on Wednesday, reaching $18.42. The company’s stock had a trading volume of 12,159,849 shares, compared to its average volume of 29,806,340. Rigetti Computing has a 52 week low of $10.18 and a 52 week high of $58.15. The business has a 50-day moving average price of $16.51 and a 200-day moving average price of $21.93. The stock has a market cap of $6.12 billion, a PE ratio of -21.19 and a beta of 1.79.

Insider Transactions at Rigetti Computing

In other Rigetti Computing news, CTO David Rivas sold 36,719 shares of Rigetti Computing stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $17.52, for a total value of $643,316.88. Following the transaction, the chief technology officer owned 651,914 shares in the company, valued at $11,421,533.28. The trade was a 5.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jeffrey A. Bertelsen sold 4,270 shares of Rigetti Computing stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total value of $74,810.40. Following the completion of the transaction, the chief financial officer owned 175,609 shares in the company, valued at approximately $3,076,669.68. This represents a 2.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.60% of the company’s stock.

Institutional Trading of Rigetti Computing

Several hedge funds and other institutional investors have recently made changes to their positions in RGTI. Royal Bank of Canada grew its holdings in shares of Rigetti Computing by 106.2% during the first quarter. Royal Bank of Canada now owns 220,701 shares of the company’s stock worth $1,748,000 after purchasing an additional 113,644 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Rigetti Computing by 138.9% during the first quarter. AQR Capital Management LLC now owns 81,047 shares of the company’s stock worth $642,000 after purchasing an additional 47,115 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Rigetti Computing by 25.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,409 shares of the company’s stock worth $890,000 after purchasing an additional 22,770 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Rigetti Computing by 197.8% during the first quarter. NewEdge Advisors LLC now owns 25,592 shares of the company’s stock worth $203,000 after purchasing an additional 16,998 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Rigetti Computing during the first quarter worth about $3,115,000. 35.38% of the stock is currently owned by institutional investors.

Key Rigetti Computing News

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

• Positive Sentiment: Needham reiterated a Buy rating on Rigetti Computing, reinforcing analyst confidence in the company’s long-term quantum computing opportunity. Rigetti Computing (NASDAQ:RGTI) Given Buy Rating at Needham & Company LLC
• Positive Sentiment: Mizuho raised its price target on Rigetti Computing to $27 and maintained an Outperform rating, signaling continued upside expectations. Rigetti Computing (NASDAQ:RGTI) Given New $27.00 Price Target at Mizuho
• Positive Sentiment: Rigetti beat Q1 estimates with a narrower loss and stronger revenue, while revenue surged year over year as customer adoption increased. Rigetti Computing tops Q1 earnings estimates as loss narrows
• Neutral Sentiment: Investors are also weighing a broader quantum-sector momentum trade, which is helping sentiment but may be difficult to sustain if execution slips.
• Negative Sentiment: The stock remains constrained by ongoing losses and uncertainty over when revenue growth will translate into profitability.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RGTI shares. Royal Bank Of Canada downgraded Rigetti Computing to a “hold” rating in a report on Thursday, January 22nd. B. Riley Financial raised Rigetti Computing from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a report on Thursday, January 22nd. Northland Securities started coverage on Rigetti Computing in a research report on Monday, April 20th. They issued a “market perform” rating and a $20.00 price target on the stock. Wedbush raised their price target on Rigetti Computing from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Finally, TD Cowen cut Rigetti Computing from a “buy” rating to a “hold” rating in a research report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.18.

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.