Rigetti Computing beats Q1 revenue expectations on higher sales

Rigetti Computing

11/05/2026 21:22

Overview

Quantum computing firm's Q1 revenue rose yr/yr, beating analyst expectations

Company posted GAAP net income but non-GAAP net loss for Q1

Revenue growth driven by new on-premises quantum system sales and increased customer adoption

Outlook

Company did not provide specific financial guidance for the current quarter or full year

Result Drivers

NEW SYSTEM LAUNCH - Co said general availability of 108-qubit Cepheus-1-108Q system expanded customer access via Rigetti QCS, Amazon Braket, Microsoft Azure Quantum, and qBraid

ON-PREMISES SALES - Co said new on-premises Novera QPU sales contributed to yr/yr revenue growth

SYSTEM FIDELITY IMPROVEMENTS - Co said it achieved higher two-qubit gate fidelity and improved system speed and performance consistency

Company press release: ID:nGNX99dxdZ

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$4.40 mln
$3.97 mln (10 Analysts)
Q1 Net Income
$33.10 mln
Q1 Operating Income
-$26 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the semiconductors peer group is "buy"

Wall Street's median 12-month price target for Rigetti Computing Inc is $30.50, about 61% above its May 8 closing price of $18.94

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)