Rigetti Computing Posts $216M Annual Loss Amid Quantum Hardware Push
Event summary
- Rigetti reported a $216.2M GAAP net loss for 2025 on $7.1M revenue, with Q4 losses at $18.2M.
- Secured an $8.4M order from India’s C-DAC for a 108-qubit on-premises quantum system.
- Achieved 99.9% two-qubit gate fidelity on prototype platform using adiabatic CZ scheme.
- Expects significant Q1 2026 revenue growth from $5.7M in Novera system deliveries.
- Deployed industry’s largest multi-chip quantum computer in 2025 with Cepheus-1-36Q.
The big picture
Rigetti’s persistent losses reflect the capital-intensive nature of quantum computing hardware development. The company’s strategic focus on on-premises systems for government and research institutions positions it as a long-term infrastructure provider, though it must demonstrate scalable revenue growth to justify its valuation. The $8.4M C-DAC order underscores growing demand for hybrid classical-quantum systems, but competition in quantum hardware remains fierce.
What we're watching
- Revenue Growth
- Whether Rigetti can sustain momentum from Novera system deliveries and C-DAC order.
- Technical Milestones
- The pace at which Rigetti advances toward 108-qubit system deployment and quantum advantage.
- Competitive Positioning
- How Rigetti’s chiplet architecture and vertical integration differentiate it in the quantum hardware race.
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