Earnings Releases·Nov 10, 2026, 4:05 PM ET

Rigetti Computing — Third Quarter 2026 Earnings Summary

Q3 2026 revenue declined 26% year-over-year to $1.4 million, though nine-month revenue rose 110% to $10.9 million; operating loss widened to $33.2 million for the quarter, while the company maintains a strong balance sheet with $497.1 million in cash and no debt.
Full-year 2026 revenue guidance is set at approximately $20 million, contingent on C-DAC customer acceptance and revenue recognition in Q4, supported by a recent $100 million CHIPS Act award that includes a minority equity stake for the U.S. Department of Commerce.
The company validated its chiplet-based architecture with the 108-qubit Cepheus-1 system achieving 99.5% median two-qubit gate fidelity, while targeting a 300+ qubit system by mid-2028 and a 1,000+ qubit system within three years.
Management cited the lack of debt and strong cash position as key enablers for advancing the technology roadmap, though forward-looking statements remain subject to risks regarding customer acceptance, government contract timing, and technological milestones.