As quantum computing companies D-Wave Quantum (QBTS) and Rigetti Computing (RGTI) prepare for their upcoming earnings reports, investors are weighing which stock looks more attractive. Using TipRanks’ Stock Comparison tool, we compared QBTS and RGTI to see which quantum computing stock may be better positioned ahead of earnings. Currently, QBTS carries a Strong Buy rating with about 64% upside potential. In comparison, RGTI has a Moderate Buy rating, with an upside of around 62%.
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Let’s dig deeper.
What to Expect from QBTS’ Q1 Earnings
D-Wave Quantum (QBTS) stock has gained about 58% over the past month but is still down 13% year-to-date. Wall Street expects D-Wave Quantum to report a wider loss of $0.08 per share for Q1 2026 compared to $0.02 per share in the prior-year quarter. Revenue is projected to come in at $4.19 million, down from $15 million a year earlier.
While QBTS continues to work on reducing losses, it has made a few key moves in early 2026. The company plans to relocate its headquarters to Boca Raton, Florida, which will also serve as an R&D hub. In addition, D-Wave Systems is expanding into defense, working with Anduril Industries to develop quantum applications, while its recent acquisition of Quantum Circuits aims to support future system development.
For the upcoming report, investors will focus on whether D-Wave can convert its record $32.8 million in recent bookings into recognized revenue. The market will also look for updates on the commercial momentum of the Advantage2 system and any progress toward its first Investor Day scheduled for June.
Is QBTS Stock a Good Buy Now?
On the Street, QBTS has a Strong Buy consensus, based on 13 analysts’ ratings. The average QBTS stock price target is $36.91, implying a 63.53% upside from the current price.
What Analysts Expect from RGTI’s Q1 Earnings
Rigetti Computing (RGTI) shares have gained more than 29% over the past month but remain down 15% year-to-date. Wall Street expects Rigetti to report a narrower loss per share of $0.04, compared to a loss per share of $0.08 in the prior-year quarter. Meanwhile, revenue is expected to come in at $4.09 million.
At the upcoming report, investors will watch whether Rigetti can drive stronger revenue growth through major hardware deals, including its $8.4 million order from India’s C-DAC for a 108-qubit system.
The market will also focus on growth in cloud services after Rigetti launched its 108-qubit Cepheus-1-108Q system on its own cloud platform and on Amazon (AMZN) Braket. Investors are also looking for updates on customer demand, cash burn, and the company’s goal to reach 99.5% two-qubit gate fidelity later this year.
Is RGTI a Good Stock to Buy?
On the Street, Rigetti Computing has a Moderate Buy consensus, based on 11 analysts’ ratings. The average RGTI stock price target is $30.67, implying a 61.91% upside from the current price.
Conclusion
QBTS looks like the stronger pick ahead of earnings, backed by a Strong Buy analyst consensus, a larger market cap, and slightly higher upside potential of 63.5%. Meanwhile, RGTI remains a closely watched player as investors look for progress in hardware sales and cloud expansion.