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Rigetti Computing (RGTI)
NASDAQ:RGTI
Earnings Data
Report Date
May 18, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.04Last Year’s EPS
-0.08Same Quarter Last Year
Strong Buy
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized substantial technical progress (industry-leading gate fidelities, sub-30 ns gate speeds, validated chiplet scaling, strategic partnerships) and a materially stronger balance sheet ($590M cash) that support the multi-year roadmap. Near-term financials showed revenue decline and margin compression in Q4, plus elevated operating expenses and an intentional delay to address tunable-coupler issues on the 108-qubit system. On balance, strong technical momentum and cash runway outweigh the near-term revenue and margin headwinds, though execution risks and the long commercialization timeline remain.Company Guidance
Breakthrough Gate Fidelities and Gate Speed
Achieved 2-qubit gate fidelity as high as 99.9% at a 28 ns gate speed (Adiabatic CZ on ProDrive); maintained 1-qubit gate fidelity at 99.9%. Reported median 2-qubit fidelities of 99.7% (9-qubit), 99.6% (36-qubit) and 99% (108-qubit Cepheus-1-108Q). Company expects to deploy the 108-qubit system with ~99.5% median 2-qubit fidelity by end of March 2026 and targets >150 qubits at ~99.7% median 2-qubit fidelity by end of December 2026, and >1,000 qubits at ~99.8% median 2-qubit fidelity by ~end of 2027.
Chiplet Architecture Demonstrated and Fab 1 Competitive Advantage
Successfully deployed multiple systems to the cloud (including an 84-qubit monolithic chip system and a 36-qubit chiplet base system) and demonstrated that chiplet timing works in practice. Operates Fab 1 (integrated quantum device manufacturing facility) enabling tight design-fabrication-testing cycles and providing a durable competitive advantage for scaling beyond 100 qubits.
Notable Commercial Orders and Geographic Expansion
Secured an $8.4M order from India's C-DAC for a 108-qubit on-premises system (scheduled H2 2026). Announced ~ $5.7M in purchase orders for two upgradeable 9-qubit Novera on-premises systems (expected to drive Q1–Q2 2026 revenue recognition). Secured a Novera QPU order from a Japanese research organization (delivery expected April 2026) — Rigetti's first QPU in Japan.
Strategic Partnerships and Ecosystem Integrations
Expanded collaborations with Riverlane (real-time quantum error correction), NVIDIA (NVQLink / hybrid quantum-AI integration), QphoX (optical readout research), Quanta Computer (controls), and others. These partnerships support error correction, hybrid workflows and integration with AI/HPC ecosystems (e.g., CUDA Quantum / NVQLink).
Strengthened Balance Sheet and Runway
Ended 2025 with approximately $590M in cash, cash equivalents and available-for-sale investments versus ~$217M at end of 2024, and no debt — providing runway and flexibility to execute the multi-year roadmap toward quantum advantage.
Improved Non-GAAP Loss and Clear Revenue Recognition Guidance
Non-GAAP net loss improved to $11.3M (−19.3% vs. prior-year quarter $14.0M) or $0.03 per share (vs. $0.06 prior-year). Management provided timing guidance: less than half of the $5.7M Novera revenue expected in Q1 2026 with remainder in Q2 2026; C-DAC $8.4M recognized at point-in-time upon H2 2026 validation. Company expects significant Q1 year-over-year revenue growth driven by Novera shipments.
RGTI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
RGTI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 04, 2026 | $17.76 | ― | ― |
Nov 10, 2025 | $33.08 | $31.40 | -5.08% |
Aug 12, 2025 | $16.20 | $17.24 | +6.42% |
May 12, 2025 | $11.55 | $9.86 | -14.63% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Rigetti Computing (RGTI) report earnings?
Rigetti Computing (RGTI) is schdueled to report earning on May 18, 2026, Before Open (Confirmed).
What is Rigetti Computing (RGTI) earnings time?
Rigetti Computing (RGTI) earnings time is at May 18, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is RGTI EPS forecast?
RGTI EPS forecast for the fiscal quarter 2026 (Q1) is -0.04.
