Rigetti Computing: Technical Hurdle Tempers Bullish Analyst Outlook

While prominent financial institutions are projecting substantial upside for Rigetti Computing’s stock, the quantum computing firm faces a pressing technical challenge that has delayed a key product launch, creating a tension between near-term execution and long-term potential.

The company’s recent financial performance revealed mixed signals. For the third quarter of 2025, Rigetti reported revenue of $1.95 million, representing a year-over-year decline of 18.1%. Its net margin remains deeply negative at -4,741%.

However, the firm’s order book tells a more promising story. It has recently secured two significant contracts:
* A $5.7 million agreement for sales of its Novera systems.
* A $5.8 million contract awarded by the Air Force Research Laboratory.

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