Companies /Technology

Rigetti Computing Inc

NASDAQ: RGTI Computer Hardware
$16.05
▼ $0.39 (−2.37%) today
Markets open · 10:06am ET

Q1 2026 Earnings

Reported May 11, 2026, 4:05pm ET · SEC source
$-0.04
Beat +6.76%
EPS · est. $-0.04
$4.4M
Beat +6.60%
Revenue · est. $4.1M
+0.8%
Beating market
RGTI vs S&P since report
1 quarter
Consecutive EPS misses

Market Reaction

% change · around the report
−6%0+6%May 11May 12report 4:05pm ETearnings−0.3%−5.9%
−6%0+6%May 11May 12earnings−0.3%−5.9%
RGTI −5.9%S&P 500 −0.3%
−6%0+6%May 11May 12report 4:05pm ETearnings−1.1%−5.9%
−6%0+6%May 11May 12earnings−1.1%−5.9%
RGTI −5.9%NASDAQ −1.1%
−24%−16%−8%0May 11May 19report 4:05pm ETearnings−0.7%−22.2%
−24%−16%−8%0May 11May 19earnings−0.7%−22.2%
RGTI −22.2%S&P 500 −0.7%
−24%−16%−8%0May 11May 19report 4:05pm ETearnings−1.5%−22.2%
−24%−16%−8%0May 11May 19earnings−1.5%−22.2%
RGTI −22.2%NASDAQ −1.5%
+8.29%
Day of report
−7.02%
Next session
−18.97%
One week
+0.59%
30 days

S&P 500 over the same 30 days: −0.21%.

Did RGTI Beat Earnings? Q1 2026 Results

Rigetti Computing delivered a quarter defined by operational momentum and sharp revenue acceleration, with Q1 2026 results reflecting the early commercial traction investors have been watching for. Revenue reached $4.40 million, nearly tripling from $1.47 million a year earlier, fueled largely by on-premises Novera QPU sales including a 9-qubit system delivered to the University of Saskatchewan. The non-GAAP diluted loss per share narrowed to $0.04 from $0.05 in Q1 2025, a modest but directionally encouraging improvement even as operating losses widened to $26.00 million as R&D spending climbed to $19.96 million. The headline GAAP figure of $33.11 million in net income was driven primarily by a $53.70 million favorable swing in derivative warrant liabilities rather than operations. <a href="https://247wallst.com/investing/2026/05/11/live-can-rigettis-q1-earnings-tonight-kick-off-the-stocks-next-monster-run/">Looking ahead</a>, Rigetti plans to invest up to $100 million in the UK over three to four years to deploy a system exceeding 1,000 qubits, backed by a fortress balance sheet of $569 million in cash and investments with no debt.

Key Takeaways
  • On-premises Novera QPU sales contributed to year-over-year revenue growth
  • Growing adoption across government, academic, and commercial customers
  • Interest income increased significantly due to larger investment portfolio

“In the first quarter, we continued to execute on our strategy by bringing our 108-qubit Cepheus-1-108Q system into general availability on Rigetti QCS, Amazon Braket, Microsoft Azure Quantum, and qBraid. We believe Cepheus-1-108Q is one of the most powerful generally available gate-based quantum computers in the world, and as the largest modular system on the market today, it is an important validation of our chiplet-based architecture in a production setting.”

Rigetti Computing CEO, on the earnings call

Forward Guidance & Outlook

Rigetti indicated plans to invest up to $100 million in the United Kingdom over the next three to four years to deploy a UK-based quantum computing system with over 1,000 qubits. The company emphasized continued focus on its roadmap to quantum advantage, including improving system fidelity and scale. Fault-tolerant quantum computing remains a longer-term objective, with sustained progress in fidelity, speed, and scale viewed as essential. The company's strong cash position of $569 million with no debt provides flexibility to continue investing in its technology roadmap and customer opportunities.

RGTI YoY Financials

Revenue$4.4M
Gross Profit$1.4M
Operating Income$-25,951,000
Net Income$33.1M

Figures from SEC filings and company reports. Not investment advice.