Rigetti Computing (RGTI) reported second-quarter 2026 revenues of $5.1 million, a significant increase from $1.8 million in the same quarter last year. The growth is primarily attributed to sales of its 9-qubit Novera systems. However, revenue concentration remains a concern, with one client contributing 64% and another 16% of quarterly revenues. Rigetti’s $8.4 million C-DAC quantum system for India will be recognized in the fourth quarter of 2026, highlighting the company’s reliance on the timing of major projects.
Operating expenses surged to $30.3 million, reflecting a 48% year-over-year increase, including $20.7 million in research and development. This led to an operating loss of $28.1 million, while Rigetti maintains a liquidity position of $541.3 million to support its expansion efforts.
In a broader context, IonQ entered an $8.18 million agreement with Congruity360 for cybersecurity solutions, and D-Wave Quantum secured a deal with the U.S. Department of Commerce for up to $100 million in funding under the CHIPS Act to advance its quantum technologies.
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