Rigetti Computing Plummets to 152nd in Trading Volume with $610 Million Decline

On May 15, 2025,
(RGTI) experienced a significant decline, with its trading volume reaching $610 million, a 59.76% decrease from the previous day. This placed Rigetti at the 152nd position in terms of trading volume for the day. The stock price of Rigetti Computing (RGTI) fell by 0.86%.Rigetti Computing's shares dropped following the release of its first-quarter 2025 earnings on May 12. The company reported lower-than-expected revenue for the quarter, which led to a decline in its stock price. Despite the revenue miss, Rigetti posted a net income of $42.6 million for the quarter, driven by non-cash gains tied to the revaluation of derivative warrant and earn-out liabilities. The company's adjusted earnings reached $0.13 per share, swinging from a $0.14 loss a year earlier.
Rigetti's first-quarter revenue of $1.5 million fell short of the $2.6 million forecast by analysts. The company's operating expenses for the quarter were $22.1 million, resulting in an operating loss of $21.6 million. However, Rigetti's cash, equivalents, and investments totaled $209.1 million as of March 31, 2025, and increased to $237.7 million by the end of April after Taiwan-based Quanta Computer purchased $35 million worth of shares.
Rigetti continues to invest in superconducting quantum systems and has secured government-funded projects in both the U.S. and U.K. The company's modular architecture aims to scale toward higher qubit counts over time. Despite the revenue miss, Rigetti's strong cash position and ongoing investments in quantum computing technology may provide a foundation for future growth.
Comments
No comments yet