GlobeNewswire·Nov 10, 2026, 4:05 PM ET

Rigetti Computing Reports Third Quarter 2026 Financial Results

Rigetti Computing reported Q3 2026 total revenues of $1.4 million, with nine-month revenues reaching $10.9 million, representing 110% growth compared to the same period in 2025.
The company recorded an operating loss of $33.2 million for the three months ended September 30, 2026, with a GAAP net loss of $3.1 million.
As of September 30, 2026, Rigetti held $497.1 million in cash, cash equivalents, and available-for-sale investments with no debt.
Full-year 2026 revenue is projected to be approximately $20 million, contingent on C-DAC customer acceptance in the fourth quarter.
The Cepheus-1-108Q system achieved 99.5% median two-qubit gate fidelity, validating the company's chiplet-based architecture.
Rigetti signed a definitive $100 million agreement with the U.S. Department of Commerce under the CHIPS Act, which included a minority equity stake for the department.
The company targets a 300-plus-qubit system with 99.7% fidelity and sub-60 nanosecond gate speeds by mid-2028.
Rigetti aims to develop a 1,000+ qubit system with 99.9% fidelity and sub-50 nanosecond speeds within approximately three years to demonstrate quantum advantage.
Conference calls to discuss these results were scheduled for November 10, 2026, at 5:00 pm ET, with live webcast and replay options available.