Rigetti Computing (RGTI) Slides 7.4 Percent After Widening Losses and Falling Revenue in Q3

• Rigetti Computing recently reported third quarter 2025 earnings, revealing sales of US$1.95 million and a net loss of US$200.97 million, both worsening compared to the same period last year.
• While the company remains focused on research and development and is years from commercial scale, its mounting losses and declining revenue highlight the challenges facing quantum computing pure-play companies.
• We'll explore how Rigetti's sustained focus on R&D amid deepening losses shapes its investment narrative in the rapidly evolving quantum computing sector.

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What Is Rigetti Computing's Investment Narrative?

For those drawn to Rigetti Computing, the real belief centers on quantum computing’s long-term promise rather than short-term financials. The business is years from commercial scale and faces heightened risks after the recent quarterly report, which showed shrinking revenue and a much wider net loss of US$200.97 million. This result marks a significant deterioration compared to earlier quarters and may affect sentiment around Rigetti’s ability to monetize its technology pipeline in the near term. While big contract wins and product milestones create important future catalysts, the fresh earnings miss and deepening losses now put more pressure on management’s execution and raise questions about liquidity, cash burn, and the timeline to commercial traction. The latest news materially intensifies existing risks around dilution and volatility, while the most optimistic arguments for Rigetti now rest even more squarely on breakthroughs that remain some distance away. In contrast, dilution risk from equity offerings is something investors should keep a close eye on.

The valuation report we've compiled suggests that Rigetti Computing's current price could be inflated.

Exploring Other Perspectives

The Simply Wall St Community contributed 49 fair value estimates for Rigetti Computing, ranging from US$0.22 to US$40.50 per share. These wide-ranging views capture both optimism and caution within the community, especially given the company’s recent sharp revenue drop and mounting losses. Different opinions highlight how perspectives on future growth potential and risk can vary tremendously.

Explore 49 other fair value estimates on Rigetti Computing - why the stock might be worth as much as 72% more than the current price!

Build Your Own Rigetti Computing Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Rigetti Computing research is our analysis highlighting 2 key rewards and 4 important warning signs that could impact your investment decision.
• Our free Rigetti Computing research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Rigetti Computing's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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