Rigetti Computing, Inc. operates through its subsidiaries to develop and run quantum computers and superconducting quantum processors. The company provides quantum processing units (QPUs) and integrated quantum computing systems.

• During the first quarter of 2026, Rigetti introduced its 36-qubit Novera™ QPU, designed to support quantum computing research and development applications. The launch expanded the company’s product portfolio and marked an important step toward commercializing quantum hardware, providing customers with greater flexibility in deploying and evaluating quantum technologies. 

• Rigetti continued advancing its technology roadmap by demonstrating progress toward higher-performance quantum systems and scaling capabilities. The company remained focused on improving qubit fidelity, gate performance, and system reliability while strengthening partnerships with government, research, and commercial organizations to accelerate the adoption of practical quantum computing solutions worldwide.

• Rigetti reported first-quarter 2026 revenue of $4.4 million, a significant increase from $1.5 million in the prior-year period, primarily driven by Novera quantum processing unit deliveries and related system contracts. The improvement demonstrates growing commercial adoption of the company's quantum computing technologies and expanding customer demand. 

• The company generated gross profit of $1.4 million during the quarter, resulting in a 31% gross margin. While profitability at the gross level remained positive, margins were influenced by the mix of contracts delivered during the period, reflecting the project-based nature of Rigetti's current revenue streams. 

• Rigetti recorded an operating loss of $26.0 million, as research and development expenses reached $20.0 million and selling, general, and administrative expenses totaled $7.4 million. The elevated spending reflects continued investment in quantum hardware development, scaling initiatives, and technology leadership. 

• The company ended the quarter with a strong balance sheet, holding $569 million in cash, cash equivalents, and investments, while carrying no debt. Rigetti also reported GAAP net income of $33.1 million, providing substantial financial flexibility to support future technology milestones and commercial deployments.