Rigetti Computing Reports 99.9% Two-Qubit Fidelity and Secures $8.4M Order
Rigetti Computing delivered 99.9% two-qubit gate fidelity at 28 ns, deployed 84-qubit monolithic and 36-qubit chiplet systems, and secured an $8.4M order for a 108-qubit on-premises quantum computer from India's C-DAC. Q4 revenue slid to $1.9M, gross margin fell to 35%, and operating loss widened to $22.6M.
1. Technical Milestones
In Q4 2025, Rigetti achieved a two-qubit gate fidelity of 99.9% at 28 nanoseconds, surpassing prior benchmarks. The company deployed both an 84-qubit monolithic system and a 36-qubit chiplet-based system to its cloud platform, demonstrating scalable hardware capabilities.
2. Q4 Financial Performance
Revenue declined to $1.9 million from $2.3 million a year earlier, while gross margin contracted to 35% from 44%. Operating expenses rose to $23.2 million, driven by R&D investments, resulting in a $22.6 million operating loss, though the firm retains approximately $590 million in cash.
3. 108-Qubit Order and Deployment Outlook
Rigetti secured an $8.4 million contract with India's Center for Development of Advanced Computing for a 108-qubit on-premises system. Management expects to deploy the system by the end of March with 99.5% two-qubit gate fidelity and continues to offer its Fab One foundry services to select partners.