Key Takeaways Rigetti delivered Q2 revenue of $5.14 million, surpassing the analyst consensus of $5.09 million and marking significant growth from $1.8 million in the prior-year period. Share
Rigetti Computing delivered second-quarter revenue totaling $5.14 million, topping Wall Street expectations of $5.09 million. This represents substantial year-over-year growth compared to the $1.8 million generated in Q2 of the previous year. However, the top-line success wasn’t enough to satisfy investors, as RGTI stock fell 4.4% during Thursday’s extended trading session.
$RGTI (Rigetti Computing) #earnings are out: pic.twitter.com/FWwcOp04T0
— The Earnings Correspondent (@earnings_guy) August 6, 2026
Year-to-date, the quantum computing company’s shares have declined approximately 24.2%, significantly trailing the S&P 500’s 12.8% gain during the same timeframe.
The better-than-expected revenue performance was primarily fueled by growing sales of quantum computing systems. These sophisticated on-premise installations typically command price tags in the millions, establishing them as a critical revenue source for the business.
The company disclosed that it’s actively working on fulfilling contracts for systems powered by its Novera processor, including a substantial order destined for a research facility in India. Additionally, Rigetti is scheduled to provide a quantum computing system to the Pittsburgh Supercomputing Center, supported through a National Science Foundation grant.
This arrangement extends an ongoing collaboration with Hewlett Packard Enterprise.
While revenue showed strong momentum, Rigetti‘s financial losses continued to grow. The company posted an operating loss of $28.1 million during the second quarter, representing an increase from the $20.4 million loss recorded in the corresponding quarter of last year.
The adjusted loss per share of $0.05 remained unchanged from the year-ago result but fell short of the Zacks consensus projection of a $0.03 loss. This miss translates to a negative earnings surprise of 66.67%.
On a brighter note, Rigetti concluded the quarter with a debt-free balance sheet and $541.3 million in cash, cash equivalents, and available-for-sale securities.
For comparison, competitor IonQ reported $80.1 million in quarterly revenue. In after-hours action, D-Wave Quantum edged down 0.1%, while IonQ shares slipped 0.9%.
A significant development worth monitoring is the letter of intent with the U.S. Commerce Department that was unveiled in May. The proposed arrangement would see Rigetti receive $100 million in government funding in return for providing an equity position.
During Thursday’s earnings call, Rigetti acknowledged that this agreement remains unfinalized.
The company employs superconducting quantum technology and is developing a chiplet-based design strategy, which management believes will enable the construction of larger quantum systems while maintaining lower error rates.
Earlier in 2025, Rigetti postponed the launch of its Cepheus-1-108Q system in order to achieve specific technical benchmarks.
Moving forward, Wall Street analysts currently project a loss of $0.05 per share on revenue of $3.92 million for the upcoming quarter, with full-year expectations calling for a loss of $0.18 per share on revenue of $25.33 million.
Zacks Investment Research maintains a Hold rating (Rank 3) on RGTI stock, indicating expectations for market-aligned performance in the near term.
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