Rigetti Computing reported a net loss of $216.2 million for 2025, up by 7.6% from $201 million a year earlier. Also, total revenues fell by 34.3% to $7.1 million from $10.8 million.
As of the end of the year, Rigetti had cash, cash equivalents and available-for-sale investments totaling at $589.8 million.
In the fourth quarter of 2025, net loss narrowed by 88% to $18.2 million from $153 million. At the same time, revenues dropped by 17.9% to $1.9 million from $2.3 million.
“In 2025, we made great progress across fidelity, scale, and system architecture,” said Subodh Kulkarni, CEO of Rigetti. “Our focus continues to be on achieving practical quantum advantage, and over the past year we validated key elements of our strategy, including improved two-qubit gate fidelity across both monolithic and chiplet-based systems and continued momentum in scaling our superconducting quantum technology.”
The CEO said a critical enabler of this progress is Rigetti’s vertically integrated, full-stack development approach, where tightly coupled design, fabrication, and testing allow the firm to iterate faster, protect proprietary IP, and drive performance improvements as it scales beyond 100 qubits.
“Demand for on-premises quantum systems from government and research institutions continues to grow,” said Kulkarni. “Our recently announced order from India’s Centre for Development of Advanced Computing reflects increasing engagement from national customers seeking direct access to quantum hardware integrated into high-performance computing environments. These deployments underscore Rigetti’s role as a long-term technology partner supporting hybrid classical-quantum computing.”
Kulkarni said Rigetti’s open and modular architecture remains a core differentiator and their chiplet-based approach provides a practical and scalable path toward large-scale quantum systems, while their ecosystem of partners, including Riverlane, NVIDIA, Quanta Computer, and QphoX, allows the company to innovate across the stack.
This architecture is reinforced by our dedicated quantum manufacturing facility (Fab-1) supports proprietary innovation, and creates a durable competitive advantage as systems grow in scale and complexity.
“Looking ahead, we remain focused on executing our roadmap, including the deployment of our 108-qubit system at 99.5% median two-qubit gate fidelity and advancing toward larger-scale systems as we work steadily toward quantum advantage,” said Kulkarni.
“We anticipate significant first-quarter year-over-year revenue growth driven by a portion of the previously announced $5.7 million Novera on-premises system purchase orders expected to ship in Q1,” he added.
