Rigetti reports Q1 2025 results; GAAP net income on warrant remeasurement despite lower revenue, EPS misses
On 2025-05-12 Rigetti Computing reported first-quarter 2025 results (period ended 2025-03-31). EODHD-sourced data shows EPS of -$0.0759 against a -$0.05 estimate, a miss, while trade coverage noted a roughly $43 million GAAP net profit driven by a non-cash warrant-remeasurement gain against a year-over-year decline in revenue. The company reiterated its superconducting roadmap and recent Quanta Computer collaboration.
An operating-revenue decline with an EPS miss, partly masked by a non-cash warrant gain, is a mixed quarter logged for completeness for a tracked pure-play and does not move the technical landscape.
The reliance on warrant-remeasurement accounting for headline profitability underscores that Rigetti's near-term story remains roadmap- and capital-driven rather than revenue-driven, foreshadowing the $350M ATM facility established later in the month.