Rigetti Computing - CW27 | 8-K: FY2025 Q2 Revenue: USD 1.801 M

Revenue: As of FY2025 Q2, the actual value is USD 1.801 M.

EPS: As of FY2025 Q2, the actual value is USD -0.13.

Segment Revenue

• Total revenues for the three months ended June 30, 2025 were $1.8 million.

Operational Metrics

• Total operating expenses for the three months ended June 30, 2025 were $20.4 million.
• Operating loss for the three months ended June 30, 2025 was $19.9 million.
• Net loss for the three months ended June 30, 2025 was $39.7 million, which includes $22.8 million of non-cash losses for the fair value change in the derivative warrant and earn-out liabilities.

Cash Flow

• As of June 30, 2025, cash, cash equivalents, and available-for-sale investments totaled $571.6 million.
• Net cash used in operating activities for the six months ended June 30, 2025 was - $29.8 million.
• Net cash used in investing activities for the six months ended June 30, 2025 was - $369.7 million.
• Net cash provided by financing activities for the six months ended June 30, 2025 was $389.1 million.

Unique Metrics

• Rigetti completed the sales of $350 million gross proceeds of its common stock during the second quarter of 2025.

Outlook / Guidance

• Rigetti expects to release its 100+ qubit chiplet-based system at 99.5% median two-qubit gate fidelity before the end of 2025. The company intends to use the proceeds from the equity offering primarily for working capital, capital expenditures, and other general corporate purposes, with the possibility of entering into strategic collaborations, acquisitions, or partnerships. Rigetti is confident in hitting its end-of-year technology goals, leveraging its strong financial position and proprietary chiplet approach to scaling.