Rigetti Falls On Q1 Miss But Retail Doubles Down On Stock Amid Faith In Quantum Computing Tech

Rigetti Computing, Inc. (RGTI) stock was among the top five trending tickers on Stocktwits late Monday after the full-stack quantum computing company announced its quarterly results.

The Berkeley, California-based company reported earnings of $38.26 million or $0.13 per share for the first quarter of the fiscal year 2025, reversing from the net loss of $20.77 million or $0.14 per share a year ago.

The company clarified that the quarter's net loss included $62.1 million in non-cash gains from the change in fair value of derivative warrants and earn-out liabilities. 

According to Koyfin, the bottom-line result would have been a loss of $0.08 excluding the gain, wider than the $0.04 loss expected by analysts.

Revenue fell about 52% year over year (YoY) to $1.47 million, missing the Finchat-compiled consensus estimate of $2.55 million.

Rigetti ended the quarter with cash, cash-equivalents, and available-for-investment of $209.1 million.

CEO Subodh Kulkarni highlighted the government-funded projects the company secured in the U.K. and U.S., adding that this demonstrated its leadership in superconductor computing.

The executive said, “We also are making great strides in developing innovative approaches to scaling to higher qubit count systems, which is possible due to our open and modular system architecture, in-house full-stack expertise, and world-class partners.”

On Stocktwits, retail sentiment toward Rigetti stock was ‘extremely bullish’ (94/100) by late Monday, with the message volume at ‘extremely high’ levels.

A bullish watcher said they expect big whales to jump in soon and bring the stock up nicely. “Quantum is parking the future!!! It’s probably a good opportunity to average down,” they added.

Another user said they added more stock, expecting some government contract under President Donald Trump.

Rigetti stock fell 12.03% in Monday’s after-hours session, but has lost over 24% year-to-date.

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