Rigetti Computing Reports Third Quarter 2025 Financial Results; Provides Technology Roadmap Updates for 2026 and 2027
Rigetti Computing (Nasdaq: RGTI) reported Q3 2025 results: total revenue $1.9M, operating loss $20.5M, GAAP net loss $201.0M and non-GAAP net loss $10.7M (GAAP EPS $(0.62); non-GAAP EPS $(0.03)).
Balance sheet: $558.9M in cash, cash equivalents and AFS investments at Sept 30, 2025; proceeds of $46.5M from warrant exercises raised cash to ≈$600M as of Nov 6, 2025.
Commercial and tech highlights: secured ≈$5.7M in purchase orders for two 9-qubit Novera systems; awarded a $5.8M AFRL contract; roadmap targets 100+ qubit (99.5% fidelity) by end-2025, 150+ qubit (99.7%) by end-2026 and 1,000+ qubit (99.8%) by end-2027.
Rigetti Computing (Nasdaq: RGTI) ha riportato i risultati del terzo trimestre 2025: fatturato totale di 1,9 milioni di dollari, perdita operativa di 20,5 milioni di dollari, perdita netta GAAP di 201,0 milioni di dollari e perdita netta non GAAP di 10,7 milioni di dollari (EPS GAAP di -0,62 $; EPS non GAAP di -0,03 $).
Stato patrimoniale: 558,9 milioni di dollari in cassa, equivalenti di cassa e investimenti AFS al 30 settembre 2025; proventi di ~46,5 milioni di dollari da esercizi di warrant hanno portato la liquidità a circa 600 milioni di dollari al 6 novembre 2025.
Evidenze commerciali e tecnologiche: circa 5,7 milioni di dollari in ordini di acquisto per due sistemi Novera da 9 qubit; assegnato un contratto AFRL da 5,8 milioni di dollari; la roadmap punta a 100+ qubit (fideltà 99,5%) entro fine 2025, 150+ qubit (99,7%) entro fine 2026 e 1.000+ qubit (99,8%) entro fine 2027.
Rigetti Computing (Nasdaq: RGTI) informó los resultados del tercer trimestre de 2025: ingresos totales de 1,9 millones de dólares, pérdida operativa de 20,5 millones de dólares, pérdida neta GAAP de 201,0 millones de dólares y pérdida neta no GAAP de 10,7 millones de dólares (EPS GAAP de -0,62; EPS no GAAP de -0,03).
Balance: 558,9 millones de dólares en efectivo, equivalentes de efectivo e inversiones AFS al 30 de septiembre de 2025; ingresos por ejercicios de warrants de 46,5 millones de dólares elevaron la liquidez a aproximadamente 600 millones de dólares al 6 de noviembre de 2025.
Highlights comerciales y tecnológicos: aseguraron aproximadamente 5,7 millones de dólares en órdenes de compra para dos sistemas Novera de 9 qubits; se adjudicó un contrato AFRL de 5,8 millones de dólares; la hoja de ruta apunta a 100+ qubits (fidelidad 99,5%) para fines de 2025, 150+ qubits (99,7%) para fines de 2026 y 1.000+ qubits (99,8%) para fines de 2027.
Rigetti Computing (Nasdaq: RGTI)가 2025년 3분기 실적을 발표했다: 총매출 190만 달러, 영업손실 2050만 달러, GAAP 순손실 2010만 달러 및 비-GAAP 순손실 1070만 달러 (GAAP EPS -0.62; 비-GAAP EPS -0.03).
대차대조표: 2025년 9월 30일 기준 현금, 현금성자산 및 AFS 투자 합계 5.589억 달러; 워런트 행사로 얻은 현금 4650만 달러로 2025년 11월 6일 기준 약 6억 달러에 도달.
상업 및 기술 하이라이트: 9퀀텀 시스템 2대에 대해 약 570만 달러의 구매주문 확보; AFRL 계약 580만 달러 수주; 로드맵은 2025년 말까지 100퀀텀 이상(충실도 99.5%), 2026년 말까지 150퀀텀 이상(99.7%), 2027년 말까지 1000퀀텀 이상(99.8%)를 목표로 한다.
Rigetti Computing (Nasdaq : RGTI) a publié les résultats du troisième trimestre 2025 : chiffre d'affaires total de 1,9 M$, perte opérationnelle de 20,5 M$, perte nette GAAP de 201,0 M$ et perte nette non GAAP de 10,7 M$ (EPS GAAP -0,62 $; EPS non GAAP -0,03 $).
Bilan : 558,9 M$ en trésorerie, équivalents de trésorerie et investissements AFS au 30 septembre 2025 ; les produits des exercices de warrants se chiffrant à 46,5 M$ ont porté la trésorerie à environ 600 M$ au 6 novembre 2025.
Points forts commerciaux et technologiques : environ 5,7 M$ en commandes pour deux systèmes Novera à 9 qubits; contrat AFRL attribué de 5,8 M$; la feuille de route vise 100+ qubits (fidélité 99,5%) d'ici fin 2025, 150+ qubits (99,7%) d'ici fin 2026 et 1 000+ qubits (99,8%) d'ici fin 2027.
Rigetti Computing (Nasdaq: RGTI) berichtete die Ergebnisse des dritten Quartals 2025: Gesamtumsatz 1,9 Mio. $, Betriebsverlust 20,5 Mio. $, GAAP-Nettoverlust 201,0 Mio. $ und nicht-GAAP Nettoverlust 10,7 Mio. $ (EPS GAAP -0,62; EPS nicht GAAP -0,03).
Bilanz: 558,9 Mio. $ in Barbeständen, liquiden Mitteln und AFS-Investitionen zum 30. September 2025; Erträge aus Warrants-Ausübungen in Höhe von 46,5 Mio. $ erhöhten die Liquidität auf ca. 600 Mio. $ zum 6. November 2025.
Handels- und Technologie-Highlights: ca. 5,7 Mio. $ in Bestellungen für zwei Novera-Systeme mit 9 Qubits gesichert; AFRL-Vertrag über 5,8 Mio. $ erhalten; Roadmap zielt auf 100+ Qubits (Fidelity 99,5%) bis Ende 2025, 150+ Qubits (99,7%) bis Ende 2026 und 1.000+ Qubits (99,8%) bis Ende 2027.
Rigetti Computing (Nasdaq: RGTI) أبلغت عن نتائج الربع الثالث لعام 2025: إجمالي الإيرادات 1.9 مليون دولار، خسارة تشغيلية قدرها 20.5 مليون دولار، الخسارة الصافية وفق GAAP 201.0 مليون دولار و الخسارة الصافية غير GAAP 10.7 مليون دولار ( EPS GAAP -0.62 دولار؛ EPS غير GAAP -0.03 دولار).
الميزانية العمومية: 558.9 مليون دولار نقداً وما يعادله من النقد والاستثمارات AFS كما في 30 سبتمبر 2025؛ عوائد من تمارين warrants بلغت 46.5 مليون دولار رفعت السيولة إلى نحو 600 مليون دولار حتى 6 نوفمبر 2025.
أبرز الإنجازات التجارية والتقنية: نحو 5.7 مليون دولار في طلبات شراء لنظامين Novera بقدرات 9 كيوبت؛ تم منح عقد AFRL بقيمة 5.8 مليون دولار؛ الخريطة الطموحة تستهدف 100 كيوبت فأكثر (وفاء 99.5%) بحلول نهاية 2025، أ 150 كيوبت فأكثر (99.7%) بحلول نهاية 2026 و 1,000 كيوبت فأكثر (99.8%) بحلول نهاية 2027.
- Revenue of $1.9M in Q3 2025
- Cash and equivalents of $558.9M at Sept 30, 2025
- Post-period cash boost of $46.5M from warrant exercises
- Purchase orders of ≈$5.7M for two Novera systems
- Awarded a $5.8M AFRL contract for quantum networking
- Roadmap: 100+ qubit system with 99.5% two-qubit fidelity (end-2025)
- GAAP net loss of $201.0M in Q3 2025
- Operating loss of $20.5M for the quarter
- Large GAAP/non-GAAP gap: non-GAAP net loss $10.7M
Insights
Rigetti shows technology progress and contract wins but reports a large GAAP loss; cash runway appears substantial near-term.
Rigetti reported $1.9 million in third quarter revenue, a GAAP net loss of
On technology, the company states it remains on track to deliver a 100+ qubit chiplet-based system with an anticipated
Dependencies and risks are explicit in the disclosures: reported revenue is small relative to operating and GAAP losses, and the company’s cash position benefits from warrant exercises through
BERKELEY, Calif., Nov. 10, 2025 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (Nasdaq: RGTI) (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, today announced its financial results for the third quarter ended September 30, 2025.
Third Quarter 2025 and Recent Financial Highlights
- Total revenues for the three months ended September 30, 2025 were
$1.9 million - Operating loss for the three months ended September 30 was
$20.5 million - For the three months ended September 30, 2025: GAAP net loss
$201.0 million ; non-GAAP net loss$10.7 million - For the three months ended September 30, 2025: GAAP net loss per share
$(0.62) ; non-GAAP net loss per share$(0.03) - As of September 30. 2025 cash, cash equivalents and available-for-sale investments totaled
$558.9 million - Subsequent to September 30, 2025 and through November 6, 2025, proceeds of
$46.5 million were received from the exercise of Warrants - As of November 6, 2025 cash, cash equivalents and available-for-sale investments totaled approximately
$600.0 million .
“This past quarter, we saw strong momentum with both the demand for our on-premises quantum computers and the development of collaborations to advance our own R&D and the quantum ecosystem more broadly,” says Dr. Subodh Kulkarni, Rigetti CEO.
“Rigetti’s open and modular architecture continues to allow us to integrate innovative solutions with our technology stack, including our Air Force Research Laboratory (AFRL)-funded project with QphoX and AFRL to advance superconducting quantum computer networking,” Dr. Kulkarni continues.
“Our new collaborations with the Centre for Development of Advanced Computing (C-DAC) and Montana State University (MSU) showcase the increasing maturity of the quantum computing ecosystem. Rigetti is proud to be deepening our support for quantum computing capabilities in the academic and government sectors,” adds Dr. Kulkarni. “We are equally excited to support NVIDIA NVQLink, NVIDIA’s new open platform for AI supercomputer-quantum integration, which is a promising resource to accelerate hybrid computation development as we work towards quantum advantage.”
“On the technology front, we remain on track to deliver our 100+ qubit chiplet-based quantum system with an anticipated
2026-2027 Technology Roadmap Updates
The Company expects to deploy a 150+ qubit system by or around the end of 2026 with an anticipated
Commercial Updates
Rigetti Announces Purchase Orders for Two Quantum Computing Systems Totaling Approximately
In September 2025, Rigetti announced that it secured purchase orders totaling approximately
One system is being purchased by an Asian technology manufacturing company. The system will serve as a testbed to develop internal quantum computing expertise. They also plan to benchmark and validate their own quantum computing technologies with the Novera system.
The other system is being purchased by a California-based applied physics and artificial intelligence startup. The system will be used for quantum hardware and error correction research.
Rigetti Announces Italy Expansion
Rigetti plans to open an Italian subsidiary in the coming months. We believe that this development will allow the Company to accelerate its pursuit of business opportunities and talent in Italy as the region dedicates more resources and funding to bolstering its quantum computing initiatives.
Rigetti, in Collaboration with QphoX, Awarded
In September 2025, Rigetti announced that it was awarded a three-year,
Rigetti Announces Update on DARPA QBI Participation
Rigetti remains engaged with the Defense Advanced Research Projects Agency (DARPA) on Stage A of the Quantum Benchmarking Initiative (QBI). On November 6, DARPA announced the companies initially selected to participate in Stage B of QBI. Although Rigetti was not initially selected for Stage B, the Company received constructive input from DARPA regarding its proposal and its dialogue with DARPA is ongoing. Rigetti is optimistic about being chosen for Stage B in the coming months.
Partnership and Collaboration Updates
Rigetti Supports NVIDIA NVQLink, NVIDIA’s New Open Platform for AI Supercomputer-Quantum Integration
Rigetti announced that it is supporting NVIDIA NVQLink, NVIDIA’s new open platform for integrating AI supercomputing with quantum computers. By providing low latency and high throughput integration between quantum hardware and AI supercomputing, NVQLink is a very promising resource to accelerate hybrid computation development on the path towards quantum advantage.
Rigetti Computing and MSU Collaborate to Advance Quantum Research and Innovation
Rigetti announced a new collaboration with MSU to advance quantum computing research and innovation. Through the collaboration, Rigetti and MSU intend to collaborate on a variety of initiatives, including research projects related to quantum hardware and hybrid quantum systems, workforce development activities, and co-development and testing of enabling technologies and quantum system components. Rigetti may also support QCORE by providing strategic and technical input on its research and program development, offering workforce training opportunities, and supporting regional talent development, among other efforts to bolster the center. Collectively, these initiatives underscore the importance of public-private partnerships in advancing next-generation quantum technologies.
MSU is the first academic institution with an on-premises Rigetti quantum computer. QCORE features a 9-qubit Novera™ QPU, which will be used by researchers to advance quantum computing R&D.
Rigetti and India’s C-DAC Announce MOU to Explore Co-Development of Hybrid Quantum Computing Systems
Rigetti signed an MOU with the C-DAC, India’s premier R&D organization of the Ministry of Electronics and Information Technology. With this MOU, Rigetti and C-DAC intend to collaborate on the design and development of hybrid quantum computing systems and related technologies and bring them to market. Rigetti and C-DAC expect to also explore use case and application workflow development leveraging hybrid computing infrastructure and participate in workforce development activities.
Conference Call and Webcast
Rigetti will host a conference call tomorrow, November 11, 2025, at 8:30 am ET, or 5:30 am PT, to discuss its third quarter 2025 financial results.
You can listen to a live audio webcast of the conference call at https://edge.media-server.com/mmc/p/8so362do/ or the "Events & Presentations" section of the Company's Investor Relations website at https://investors.rigetti.com/. A replay of the conference call will be available at the same locations following the conclusion of the call for one year.
To participate in the live call, you must register using the following link: https://register-conf.media-server.com/register/BI9d07be37ed2d4fc69d60a7d54d9669aa. Once registered, you will receive dial-in numbers and a unique PIN number. When you dial in, you will input your PIN and be routed into the call. If you register and forget your PIN, or lose the registration confirmation email, simply re-register to receive a new PIN.
Non-GAAP Financial Measures
To supplement Rigetti’s consolidated financial statements presented in accordance with U.S. generally accepted accounting principles (GAAP), the Company uses certain non-GAAP financial measures, non-GAAP net loss and non-GAAP net loss per share attributable to common stockholders-basic and diluted. The Company believes that providing these non-GAAP financial measures enhances the Company’s and investors’ ability to compare the Company’s past financial performance with its current performance. Non-GAAP net loss is defined as GAAP net loss excluding stock-based compensation expenses, change in fair value of derivative warrant liabilities and change in fair value of earn-out liabilities, and non-GAAP net loss per share attributable to common stockholders-basic and diluted is defined as non-GAAP net loss divided by the weighted average shares used to compute net loss per share attributable to common stockholders -basic and diluted. The Company excludes stock-based compensation expenses, change in fair value of derivative warrant liabilities and change in fair value of earn-out liabilities from non-GAAP net loss and non-GAAP net loss per share attributable to common stockholders -basic and diluted primarily because these are non-cash expenses that the Company believes are not reflective of ongoing operating results and such items may not be comparable from period to period due to changes in the fair market value of the Company’s common stock, which is influenced by external factors such as the volatility of public markets and the performance of the Company’s peers. These non-GAAP financial measures, which are included in this press release and which may be referred to on the conference call discussing the Company's third quarter financial results, are provided as supplemental information to the financial measures presented in this press release and discussed on the conference call that are calculated and presented in accordance with GAAP. Non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures determined or calculated in accordance with GAAP. The Company’s definitions of its non-GAAP financial measures may not be comparable to similarly titled measures reported by other companies. For a reconciliation of each non-GAAP financial measure to its most directly comparable GAAP measure, please refer to the reconciliation tables at the end of this press release.
About Rigetti
Rigetti is a pioneer in full-stack quantum computing. The Company has operated quantum computers over the cloud since 2017 and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. In 2021, Rigetti began selling on-premises quantum computing systems with qubit counts between 24 and 84 qubits, supporting national laboratories and quantum computing centers. Rigetti’s 9-qubit Novera QPU was introduced in 2023 supporting a broader R&D community with a high-performance, on-premises QPU designed to plug into a customer’s existing cryogenic and control systems. The Company’s proprietary quantum-classical infrastructure provides high-performance integration with public and private clouds for practical quantum computing. Rigetti has developed the industry’s first multi-chip quantum processor for scalable quantum computing systems. The Company designs and manufactures its chips in-house at Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility. Learn more at https://www.rigetti.com/.
Contacts
Rigetti Computing Investor Contact:
IR@Rigetti.com
Rigetti Computing Media Contact:
press@rigetti.com
Cautionary Language and Forward-Looking Statements
Certain statements in this communication may be considered “forward-looking statements” within the meaning of the federal securities laws, including statements with respect to the Company’s expectations with respect to its future success and performance, including expectations related to the Company’s ability to achieve milestones including delivery of a 100+ qubit chiplet-based quantum system with an anticipated
| RIGETTI COMPUTING, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except number of shares and par value) (unaudited) | |||||||
| September 30, | December 31, | ||||||
| 2025 | 2024 | ||||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 26,133 | $ | 67,674 | |||
| Available-for-sale investments - short-term | 420,850 | 124,420 | |||||
| Accounts receivable | 2,277 | 2,427 | |||||
| Prepaid expenses | 3,658 | 3,156 | |||||
| Other current assets | 3,376 | 9,081 | |||||
| Total current assets | 456,294 | 206,758 | |||||
| Available-for-sale investments - long-term | 111,955 | 25,068 | |||||
| Property and equipment, net | 54,065 | 44,643 | |||||
| Operating lease right-of-use assets | 6,818 | 7,993 | |||||
| Other assets | 1,142 | 325 | |||||
| Total assets | $ | 630,274 | $ | 284,787 | |||
| Liabilities and Stockholders' Equity | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 3,279 | $ | 1,590 | |||
| Accrued expenses and other current liabilities | 6,137 | 8,005 | |||||
| Current portion of deferred revenue | — | 113 | |||||
| Current portion of operating lease liabilities | 2,218 | 2,159 | |||||
| Total current liabilities | 11,634 | 11,867 | |||||
| Deferred revenue, less current portion | 698 | 698 | |||||
| Operating lease liabilities, less current portion | 5,379 | 6,641 | |||||
| Derivative warrant liabilities | 240,737 | 93,095 | |||||
| Earn-out liabilities | — | 45,897 | |||||
| Total liabilities | 258,448 | 158,198 | |||||
| Commitments and contingencies | |||||||
| Stockholders’ equity: | |||||||
| Preferred stock, par value | — | — | |||||
| Common stock, par value | 33 | 29 | |||||
| Additional paid-in capital | 1,123,853 | 681,202 | |||||
| Accumulated other comprehensive income | 690 | 105 | |||||
| Accumulated deficit | (752,750 | ) | (554,747 | ) | |||
| Total stockholders’ equity | 371,826 | 126,589 | |||||
| Total liabilities and stockholders’ equity | $ | 630,274 | $ | 284,787 | |||
| RIGETTI COMPUTING, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (unaudited) | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Revenue | $ | 1,947 | $ | 2,378 | $ | 5,220 | $ | 8,516 | |||||||
| Cost of revenue | 1,543 | 1,174 | 3,808 | 3,822 | |||||||||||
| Total gross profit | 404 | 1,204 | 1,412 | 4,694 | |||||||||||
| Operating expenses: | |||||||||||||||
| Research and development | 15,020 | 12,752 | 43,997 | 36,093 | |||||||||||
| Selling, general and administrative | 5,933 | 5,798 | 19,478 | 18,617 | |||||||||||
| Total operating expenses | 20,953 | 18,550 | 63,475 | 54,710 | |||||||||||
| Loss from operations | (20,549 | ) | (17,346 | ) | (62,063 | ) | (50,016 | ) | |||||||
| Other income (expense), net | |||||||||||||||
| Interest expense | — | (733 | ) | — | (2,809 | ) | |||||||||
| Interest income | 5,598 | 1,226 | 10,792 | 3,567 | |||||||||||
| Change in fair value of derivative warrant liabilities | (181,955 | ) | 1,200 | (149,250 | ) | 717 | |||||||||
| Change in fair value of earn-out liabilities | (4,062 | ) | 820 | 2,518 | 514 | ||||||||||
| Total other income (expense), net | (180,419 | ) | 2,513 | (135,940 | ) | 1,989 | |||||||||
| Net loss before provision for income taxes | (200,968 | ) | (14,833 | ) | (198,003 | ) | (48,027 | ) | |||||||
| Provision for income taxes | — | — | — | — | |||||||||||
| Net loss | $ | (200,968 | ) | $ | (14,833 | ) | $ | (198,003 | ) | $ | (48,027 | ) | |||
| Net loss per share attributable to common stockholders – basic and diluted | $ | (0.62 | ) | $ | (0.08 | ) | $ | (0.65 | ) | $ | (0.28 | ) | |||
| Weighted average shares used to compute net loss per share attributable to common stockholders – basic and diluted | 325,024 | 188,389 | 302,807 | 170,665 | |||||||||||
| RIGETTI COMPUTING INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) | |||||||
| Nine Months Ended September 30, | |||||||
| 2025 | 2024 | ||||||
| Cash flows from operating activities: | |||||||
| Net loss | $ | (198,003 | ) | $ | (48,027 | ) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
| Depreciation and amortization | 5,797 | 5,155 | |||||
| Stock-based compensation | 12,027 | 9,705 | |||||
| Change in fair value of earn-out liabilities | (2,518 | ) | (514 | ) | |||
| Change in fair value of derivative warrant liabilities | 149,250 | (717 | ) | ||||
| Accretion of available-for-sale securities | (7,025 | ) | (2,752 | ) | |||
| Amortization of debt issuance costs, commitment fees and accretion of final payment fees | — | 741 | |||||
| Non-cash lease expense | 1,175 | 1,533 | |||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable | 150 | (1,355 | ) | ||||
| Prepaid expenses, other current assets and other assets | (1,846 | ) | (1,955 | ) | |||
| Deferred revenue | (113 | ) | 543 | ||||
| Accounts payable | 569 | (808 | ) | ||||
| Accrued expenses and operating lease liabilities | (3,105 | ) | (3,632 | ) | |||
| Net cash used in operating activities | (43,642 | ) | (42,083 | ) | |||
| Cash flows from investing activities: | |||||||
| Purchases of property and equipment | (14,103 | ) | (9,816 | ) | |||
| Purchases of available-for-sale securities | (522,605 | ) | (98,451 | ) | |||
| Maturities of available-for-sale securities | 147,000 | 107,499 | |||||
| Net cash used in investing activities | (389,708 | ) | (768 | ) | |||
| Cash flows from financing activities: | |||||||
| Payments of principal of notes payable | — | (9,491 | ) | ||||
| Proceeds from sale of common stock through Common Stock Purchase Agreement | — | 12,838 | |||||
| Proceeds from sale of common stock through At-The-Market (ATM) Offerings | 346,719 | 38,831 | |||||
| Proceeds from sale of common stock from Quanta private placement transaction | 35,000 | — | |||||
| Payments of offering costs | (888 | ) | (476 | ) | |||
| Net proceeds from tax withholdings on sell-to-cover equity award transactions | 6,272 | — | |||||
| Proceeds from issuance of common stock upon exercise of stock options | 1,809 | 83 | |||||
| Proceeds from issuance of common stock upon exercise of warrants | 3,000 | — | |||||
| Net cash provided by financing activities | 391,912 | 41,785 | |||||
| Effects of exchange rate changes on cash and cash equivalents | (103 | ) | (40 | ) | |||
| Net decrease in cash and cash equivalents | (41,541 | ) | (1,106 | ) | |||
| Cash and cash equivalents – beginning of period | 67,674 | 21,392 | |||||
| Cash and cash equivalents – end of period | $ | 26,133 | $ | 20,286 | |||
| Supplemental disclosures of other cash flow information: | |||||||
| Cash paid for interest | $ | — | $ | 2,057 | |||
| Non-cash investing and financing activities: | |||||||
| Capitalization of deferred costs to equity upon share issuance | — | 190 | |||||
| Purchases of property and equipment recorded in accounts payable | 1,586 | 252 | |||||
| Purchases of property and equipment recorded in accrued expenses | 184 | 76 | |||||
| Non-cash addition to operating lease right-of-use asset and liability | — | 2,268 | |||||
| Reclassification of earn-out liabilities to additional paid-in capital for vesting of Promote Sponsor Vesting Shares | 43,379 | — | |||||
| Reclassification of derivative liabilities to additional paid-in capital due to exercise of Public Warrants | 1,609 | — | |||||
| Unrealized gain on short term investments | 687 | 54 | |||||
| RIGETTI COMPUTING INC. Reconciliation of Net Loss to Non-GAAP Net Loss and Calculation of Non-GAAP Net Loss per share attributable to common stockholders – basic and diluted (in thousands, except per share data) (unaudited) | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net loss (GAAP Measure) | $ | (200,968 | ) | $ | (14,833 | ) | $ | (198,003 | ) | $ | (48,027 | ) | |||
| Excluding: | |||||||||||||||
| Stock-based compensation expense | 4,299 | 3,427 | 12,027 | 9,705 | |||||||||||
| Change in fair value of derivative warrant liabilities | 181,955 | (1,200 | ) | 149,250 | (717 | ) | |||||||||
| Change in fair value of earn-out liabilities | 4,062 | (820 | ) | (2,518 | ) | (514 | ) | ||||||||
| Non-GAAP Net Loss | $ | (10,652 | ) | $ | (13,426 | ) | $ | (39,244 | ) | $ | (39,553 | ) | |||
| Net loss per share attributable to common stockholders – basic and diluted (GAAP Measure) | $ | (0.62 | ) | $ | (0.08 | ) | $ | (0.65 | ) | $ | (0.28 | ) | |||
| Non-GAAP Net loss per share attributable to common stockholders –basic and diluted | $ | (0.03 | ) | $ | (0.07 | ) | $ | (0.13 | ) | $ | (0.23 | ) | |||
| Weighted average shares used to compute net loss per share attributable to common stockholders –basic and diluted | 325,024 | 188,389 | 302,807 | 170,665 | |||||||||||