secwatch.observer — SEC 8-K summary
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Issuer:     Rigetti Computing, Inc. (RGTI)
CIK:        0001838359
Form:       8-K
Filed at:   2025-05-12T23:59:59+00:00
Accession:  0001558370-25-007372
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rigetti Q1 net income $42.6M on non-cash gains; revenue $1.5M, operating loss $21.6M
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- Total revenue $1.5M; operating loss $21.6M; net income $42.6M includes $62.1M non-cash derivative gain.
- Cash & investments $209.1M at Mar 31; $237.7M after Quanta Computer $35M share purchase at ~$11.59/share.
- Selected for DARPA Quantum Benchmarking Stage A (up to $1M); awarded $5.48M AFOSR chip-tech consortium.
- Awarded £3.5M Innovate UK awards to advance quantum error correction with Riverlane and NQCC.
- Published optical qubit control paper in Nature Physics; demonstrated quantum preconditioning advantage on Ankaa-3.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1838359/000155837025007372/0001558370-25-007372-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1838359/000155837025007372/rgti-20250512x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-25-007372

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer