Rigetti Computing Reports Third Quarter 2026 Financial Results
Key Highlights
- ➤Nine-month revenue $10.9M, up approximately 110% from 2025
- ➤2026 revenue outlook approximately $20M, contingent on C-DAC acceptance
- ➤Cash, investments $497.1M; no debt at September 30
- ➤Department of Commerce agreement awards up to $100M, taking minority equity stake
- ➤Cepheus-1-108Q reaches 99.5% median two-qubit gate fidelity
Expert Statements
Dr. Subodh Kulkarni, CEO of Rigetti Computing
“Rigetti delivered meaningful progress during the third quarter across system performance, technology development and strategic execution”
Dr. Subodh Kulkarni, CEO of Rigetti Computing
“Our Cepheus-1-108Q system achieved our goal of 99.5% median two-qubit gate fidelity, demonstrating continued performance improvement at the 100-plus-qubit level and further validating our chiplet-based approach to scaling superconducting quantum computers.”
Dr. Subodh Kulkarni, CEO of Rigetti Computing
“We also signed a definitive $100 million agreement with the U.S. Department of Commerce”
Dr. Subodh Kulkarni, CEO of Rigetti Computing
“Building on the progress achieved this quarter, our next major system objective is to demonstrate a 300-plus-qubit system with approximately 99.7% median two-qubit gate fidelity and gate speeds below 60 nanoseconds by mid-2028.”
BERKELEY, Calif., Nov. 10, 2026 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (Nasdaq: RGTI) (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, today announced financial results for the third quarter ended September 30, 2026 and provided an update on recent business and technology milestones.
Third Quarter 2026 Financial Highlights * Total revenues for the three months ended September 30, 2026 were $1.4 million. * Total revenues for the nine months ended September 30, 2026 were $10.9 million, compared with $5.2 million for the first nine months of 2025, representing growth of approximately 110%. * Operating loss for the three months ended September 30, 2026 was $33.2 million. * For the three months ended September 30, 2026, GAAP net loss was $3.1 million and non-GAAP net loss was $20.5 million. * For the three months ended September 30, 2026, GAAP diluted net loss per share was $0.08 and non-GAAP diluted net loss per share was $0.06. * As of September 30, 2026, cash, cash equivalents and available-for-sale investments totaled $497.1 million. The Company had no debt. * Full-year outlook: 2026 revenue expected to be approximately $20 million, up significantly from 2025, assuming C-DAC customer acceptance and associated revenue recognition in the fourth quarter. Management Commentary
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