Rigetti Computing reported second quarter 2026 revenue of $5.1 million, aligning with analyst estimates and representing significant growth over the prior year. While the company posted a GAAP net loss of $52.6 million, primarily impacted by non-cash derivative warrant liabilities, its adjusted results met market expectations as the company continues to scale its quantum hardware deployments.
Key Highlights
- Total revenue reached $5.1 million, a 185% increase from $1.8 million in the same period last year, driven by expanding on-premises and cloud deployments.
- The company maintained a robust liquidity position with $541.3 million in cash, equivalents, and available-for-sale investments, providing a significant runway for R&D.
- System performance for the 108-qubit Cepheus-1 system achieved 99.1% median two-qubit gate fidelity, trending toward the year-end goal of 99.5%.
- A strategic letter of intent with the U.S. Department of Commerce outlines up to $100 million in potential funding over three years to accelerate superconducting quantum R&D.