Form 8-K · Current Report · Filed 2025-05-12

Rigetti Computing Reports Q1 2025 Financial Results and Significant Business Developments

On May 12, 2025, Rigetti Computing, Inc. announced its financial results for the first quarter ended March 31, 2025, with total revenues of $1.5 million and an operating loss of $21.6 million. The net income for the quarter was $42.6 million, which included $62.1 million of non-cash gains from the change in fair value of derivative warrant and earn-out liabilities. Rigetti also announced that it closed an investment by Quanta Computer, Inc. on April 29, 2025, which added $35 million to Rigetti's cash reserves. The Company reported that it had cash, cash equivalents, and available-for-sale investments totaling $237.7 million as of April 30, 2025. Rigetti also reported recent technical advancements, including the successful demonstration of a hybrid microwave-optical quantum transducer with a Rigetti-fabricated superconducting qubit, which was published in Nature Physics. Furthermore, Rigetti announced its participation in government-funded projects to advance its quantum computing technology.