Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the Company’s ability to achieve milestones, technological advancements, including with respect to its technology roadmap; the ability of the Company to obtain government contracts successfully and in a timely manner and the availability of government funding; the potential of quantum computing; the success of the Company’s partnerships and collaborations, including the strategic collaboration with Quanta; the Company’s ability to accelerate its development of multiple generations of quantum processors; the outcome of any legal proceedings that may be instituted against the Company or others; the ability to maintain relationships with customers and suppliers and attract and retain management and key employees; costs related to operating as a public company; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business, or competitive factors; the Company’s estimates of expenses and profitability; the evolution of the markets in which the Company competes; the ability of the Company to implement its strategic initiatives and expansion plans; the expected use of proceeds from the Company’s past and future financings or other capital; the sufficiency of the Company’s cash resources; unfavorable conditions in the Company’s industry, the global economy or global supply chain, including rising inflation and interest rates, deteriorating international trade relations, political turmoil, natural catastrophes, warfare and terrorist attacks; and other risks and uncertainties set forth in the section entitled "Risk Factors” and "Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 and other documents filed by the Company from time to time with the SEC.
Learn more at ContactsRigetti Computing Investor Contact:IR@Rigetti.com Rigetti Computing Media Contact:press@rigetti.com Cautionary Language Concerning Forward-Looking StatementsCertain 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 future success and performance, including expectations with respect to timing of the development and commercialization of superconducting quantum computing; expectations regarding the advantages and impact of the government-funded projects on the Company’s operations, technology roadmap, milestones, and the Company’s position in the industry; statements to the development of innovative approaches to scaling to higher qubit count systems and the impact of our open and modular system architecture, in-house full-stack expertise, and world-class partners; expectations for work under the AFOSR Award to shed light on defects in superconducting qubits and open new avenues for understanding and mitigating them; and expectations for the Quantum Missions pilot competition projects to: (a) lead to identifying and understanding key system components needed for scalable QEC, and (b) create an open-architecture quantum computing testbed and deliver an open specification for quantum workflows, creating a common interface between quantum software and hardware.
First Quarter 2025 and Recent Financial Highlights Total revenues for the three months ended March 31, 2025 were $1.5 millionTotal operating expenses for the three months ended March 31, 2025 were $22.1 millionOperating loss for the three months ended March 31, 2025 was $21.6 millionNet income for the three months ended March 31, 2025 was $42.6 millionNet income for the three months ended March 31, 2025 includes $62.1 million of non-cash gains from the change in fair value of derivative warrant and earn-out liabilitiesAs of March 31, 2025 cash, cash equivalents and available-for-sale investments totaled $209.1 millionAs of April 30, 2025, following the previously announced closing of the share purchase by Quanta Computer, Inc., cash, cash equivalents and available-for-sale investments totaled $237.7 million "Rigetti is proud to be awarded important government-funded projects in the U.S.and U.K.to advance our technology, which demonstrates our continued leadership in superconducting quantum computing,” says Rigetti CEO Dr.Subodh Kulkarni.
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