Rigetti Computing Inc
Q2 2026 Earnings
Market Reaction
Did RGTI Beat Earnings? Q2 2026 Results
Rigetti Computing delivered a mixed second quarter for fiscal 2026, posting revenue of $5.14 million that edged just ahead of the $5.13 million consensus, while its adjusted loss per share of $0.05 fell short of the $0.05 estimate by roughly 8%. The headline revenue figure, up 185.3% from $1.80 million a year ago, reflected surging demand for on-premises quantum computing systems, though <a href="https://247wallst.com/investing/2026/08/06/live-will-rigetti-deliver-strong-results-in-tonights-q2-earnings/">investors watching the report</a> closely also had to absorb a widened GAAP net loss of $52.61 million, partly driven by a $29.60 million non-cash charge tied to derivative warrant liability revaluation. Gross profit improved meaningfully to $2.19 million from $566,000 a year earlier, signaling better margins on system deliveries, though R&D spending climbed to $20.73 million as the company pushes toward its three-year target of roughly 1,000-qubit systems with 99.9% two-qubit gate fidelity. A letter of intent with the U.S. Department of Commerce for up to $100 million in potential CHIPS Act funding underscores the strategic ambition, with Rigetti ending the quarter holding $541.29 million in cash and investments and carrying no debt.
- Growing demand for on-premises quantum computing systems from universities, national laboratories, and research organizations
- Broadening engagement across government, academic, and commercial customers
- Expanded collaboration with HPE and Pittsburgh Supercomputing Center for hybrid quantum-classical supercomputing
“In the second quarter, we continued to execute on our strategy by focusing on our system performance, progressing our core technology roadmap, and broadening on-premises system deployments. Our recently announced expanded collaboration with Hewlett Packard Enterprise Company (HPE) and the Pittsburgh Supercomputing Center to develop a hybrid quantum-classical supercomputer reflects growing demand for our approach and positions Rigetti to deliver differentiated quantum-enhanced high-performance computing (HPC) solutions.”
Rigetti Computing CEO, on the earnings call
Forward Guidance & Outlook
Rigetti is targeting a path toward systems with approximately 1,000 qubits, approximately 99.9% two-qubit gate fidelity, and gate speeds below 50 nanoseconds over roughly a three-year time horizon. The company has a letter of intent with the U.S. Department of Commerce for up to $100 million in potential funding over three years to accelerate superconducting quantum computing R&D under the CHIPS Act. Rigetti is also advancing its planned investment of up to $100 million in the United Kingdom over the next several years to support physical system deployments, talent, and facilities. The company continues to invest in dilution refrigeration capacity and related infrastructure to support higher-qubit-count systems.
RGTI YoY Financials
Figures from SEC filings and company reports. Not investment advice.