Rigetti Computing Inc (NASDAQ:RGTI) stock fell 8.67% (As on March 5, 11:31:30 AM UTC-4, Source: Google Finance) after the company posted mixed results for the fourth quarter of FY25. In the quarter under review, RGTI’s gross profit declined 35% year over year to $0.7 million. The gross margin significantly contracted 920 basis points to 34.9%. Selling, general and administrative expenses increased 1% year over year to $5.9 million. Research and development expenses increased 27% year over year to $17.3 million. Total operating expenses of $23.2 million increased 19.2% year over year. Operating loss for the quarter under review totaled $22.6 million compared with $18.5 million in the prior-year quarter. RGTI exited the fourth quarter of 2025 with cash, cash equivalents and short-term available-for-sale investments of $443.5 million compared with $446.9 million at the third-quarter end. The company ended the quarter with no debts on its balance sheet. Cumulative net cash used in operating activities at the end of the fourth quarter was $58.5 million compared with $50.6 million a year ago.

Moreover, the company expanded commercial demand for its on-premises quantum systems and continued traction with government and research institutions. The company secured an approximately $8.4 million purchase order from India’s Centre for Development of Advanced Computing (C-DAC) for a 108-qubit superconducting quantum computer based on Rigetti’s chiplet architecture. The system is expected to be deployed in the second half of 2026 and integrated into C-DAC’s high-performance computing infrastructure to support hybrid classical-quantum workloads and advanced research initiatives. Rigetti also continued progressing with previously announced Novera on-premises quantum systems, advancing delivery of two installations representing approximately $5.7 million in purchase orders. Rigetti also secured a new purchase order for a Novera quantum processing unit (QPU) from a Japanese research organization, marking the company’s first QPU deployment in Japan, with delivery expected in April 2026. On the technology front, Rigetti reported continued progress in improving system performance and advancing its scalable architecture roadmap. The company has continued collaborating with Riverlane on error correction research.

RGTI in the fourth quarter of FY25 has reported the adjusted loss per share of 3 cents, beating the analysts’ estimates for the adjusted earnings per share by 40%, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue decline of 17.9 percent to $1.9 million in the fourth quarter of FY25, missing the analysts’ estimates for revenue by 30%.