Rigetti Computing to Post Q3 Earnings: What's in Store for the Stock?

Rigetti Computing RGTI is scheduled to release third-quarter 2025 results on Nov. 10, after the market close.

In the last reported quarter, the company’s loss per share of 5 cents beat the Zacks Consensus Estimate by 16.7%. It has delivered an average earnings surprise of negative 10.8% in the past four quarters.

RGTI’s Q3 Estimates

The Zacks Consensus Estimate for revenues is pegged at $2.39 million, reflecting a modest 0.4% improvement year over year. The consensus mark for loss per share is pinned at 5 cents per share, depicting growth of 37.5% compared with the prior year-quarter’s figure.

Factors to Note Ahead of RGTI’s Q3 Results

Rigetti Computing’s third-quarter 2025 earnings are likely to remain influenced by ongoing U.S. public-sector funding uncertainty. The company’s Q2 revenues declined sharply year over year due to the expiration of the National Quantum Initiative and pending U.S. congressional reauthorization, which management identified as a key driver of future sales. With multiple versions of the reauthorization bill progressing through House and Senate committees and continued bipartisan support, third-quarter results are likely to benefit from early project execution or new contract signatures. However, delays in legislative approval could restrain near-term government and national lab demand. RGTI management continues engaging actively with DOE and DoD stakeholders, suggesting that pipeline momentum remains intact even without immediate disbursements.

The company’s third-quarter performance is also expected to have reflected strategic momentum following the deployment of Cepheus-1-36Q, the industry’s largest multichip quantum computer, which demonstrates 99.5% median two-qubit gate fidelity and a 2X reduction in error rate over Ankaa-3. The system is now available via Rigetti QCS and will be available on Microsoft Azure, positioning the company to scale cloud-based access and broaden usage among commercial and research customers. This might have supported incremental platform revenue in the third quarter as early adopters explore hybrid quantum workflows.

RGTI’s third-quarter results are likely to benefit from its strengthened balance sheet and liquidity following a $350 million equity raise completed during the second quarter. With approximately $571.6 million in cash and no debt as of June 30, the company has sufficient runway to fund continued R&D intensity and system-scaling projects. Management reiterated that operating expenses should continue to trend up only modestly, implying a more controlled spending environment. This combination of elevated cash reserves and disciplined spending may support stable margin execution in the third quarter.

Finally, NQCC and DARPA dynamics present potential catalysts for the third quarter earnings. Rigetti Computing is advancing multiple U.K. programs, including upgrades of existing 24-qubit systems to chiplet-based architectures and work on optical interconnects. Additionally, DARPA’s Quantum Benchmarking Initiative is expected to narrow Phase 2 participants before year-end, and Rigetti Computing’s management expressed confidence regarding selection given the company’s modular-chiplet leadership. Progress under these programs could translate into revenue recognition and pipeline visibility in the third and fourth quarters of 2025.

Overall, RGTI’s third-quarter earnings are likely to remain characterized by constrained revenue due to federal-funding timing, but supported by accelerated platform deployment, roadmap execution and strategic partnerships. Management remains focused on hitting 2025 technical milestones, positioning the business for future scale as government and commercial markets evolve.

Rigetti Computing, Inc. Price and EPS Surprise

Rigetti Computing, Inc. price-eps-surprise | Rigetti Computing, Inc. Quote

What the Zacks Model Unveils for RGTI

Our proven model does not conclusively predict an earnings beat for RGTI this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here, as you will see below.

RGTI’s Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is 0.00%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

RGTI’s Zacks Rank: Rigetti Computing currently carries a Zacks Rank #3.

Stocks to Consider

Solventum Corporation SOLV has an Earnings ESP of +0.88% and a Zacks Rank #1 at present. The company is set to release third-quarter 2025 results on Nov. 6.

SOLV’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 13.91%. Per the Zacks Consensus Estimate, SOLV’s third-quarter EPS is expected to decline 12.8% from the year-ago reported figure.

Cencora COR has an Earnings ESP of +0.31% and a Zacks Rank #3 at present. The company is slated to release its fiscal fourth-quarter 2026 results on Nov. 5.

COR’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 6.19%. Per the Zacks Consensus Estimate, COR’s fiscal fourth-quarter EPS is expected to gain 13.5% from the year-ago reported figure.

Globus Medical GMED has an Earnings ESP of +1.69% and a Zacks Rank #3 at present. The company is set to release third-quarter 2025 results on Nov. 6.

GMED’s earnings surpassed estimates in three of the trailing four quarters and missed once, with the average surprise being 10.82%. Per the Zacks Consensus Estimate, GMED’s third-quarter EPS is expected to decline 6% from the year-ago reported figure.

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This article originally published on Zacks Investment Research (zacks.com).

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