News about Rigetti Computing

The article compares IonQ, which uses trapped-ion technology, with Rigetti Computing, which uses superconducting qubits. IonQ unveiled a 256-qubit computer this year, aims for two million qubits by 2030, and reached 99.99% two-qubit gate fidelity; its second-quarter revenue soared 287% to $80 million. Rigetti's Cepheus-1-108Q operates at a 60-nanosecond gate speed and its latest revenue rose 185%, but more than 90% of its revenue comes from government contracts, and it targets 1,000 qubits within three years. Both stocks have fallen more than 30% this year. The author judges IonQ the better option for the next five years, citing lower risk, strong growth and $3 billion in cash.

The article compares quantum computing companies IonQ (ion-based) and Rigetti Computing (superconducting). Rigetti reported Q2 revenue of $5.1 million, up from $1.8 million in 2025, but an operating loss of $28.1 million, and held $541.3 million in cash and investments; it also received a $100 million award from the U.S. Department of Commerce. IonQ posted Q2 revenue of $80.1 million and forecasts 2026 sales of $280–290 million versus $130 million in 2025, though its Q2 operating loss widened to $337.2 million from $160.6 million, and the Elisity deal involves stock valued at up to $1.3 billion. The author judges IonQ the better investment given its consistent revenue growth, says they bought IonQ shares, and notes Rigetti's price-to-sales ratio is more than six times IonQ's.

Rigetti Computing's stock has lost 74.9% over the past year while the S&P 500 returned 17.1%, prompting the question of whether the drop is a buying opportunity. Revenue in the second quarter of fiscal 2026 rose 185.3% to $5.14 million, driven by on-premises Novera system sales, and an $8.4 million order for a 108-qubit system for C-DAC in India is expected to be booked in the fourth quarter of 2026. However, the operating loss over the four quarters to June reached $97.2 million, more than seven times revenue, and the shares trade at 291 times sales. Rigetti held $394 million in cash and short-term investments against $7.7 million of debt, but its quarterly sales can fluctuate and its diluted share count rose 159.3% between fiscal 2023 and fiscal 2026. The article concludes that the drop is a chance to buy only if Novera revenue keeps growing.