Jun 2026 (Q2 FY26) — Aug 6, 2026
Rigetti Q2 FY26 — CHIPS Act Funding & HPC Partnership Advance Quantum Roadmap
Read the full callRigetti (RGTI) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Rigetti earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 5.1 | +185.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | -546.2 | +557.8 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -52.6 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
What management said, and what became of it
4 of 6 judged targets kept · 9 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Novera $5.7 million purchase-order revenue recognition | $5.7 million of Novera QPU purchase orders (2 systems) to be recognized upon shipment, split across Q1 and Q2 of 2026 | Sep 2025 | The year-over-year increase was driven by on-premises Novera QPU sales, reflecting recognition of previously announced Novera purchase orders. | Achieved |
| 1,000+ qubit chiplet-based system, median 2-qubit gate fidelity | 1,000+ qubit system with 99.8% median 2-qubit gate fidelity, by or around end of 2027 | Sep 2025 | Our objective remains to reach approximately 1,000 qubits, 2 qubit gate fidelities of 99.9% and gate speed below 40 nanoseconds in roughly 3 years. | Diluted |
| 100+ qubit chiplet-based system, median 2-qubit gate fidelity | 100+ qubit chiplet-based system with 99.5% median 2-qubit gate fidelity, released by end of 2025 | Sep 2024 | Today, Cepheus-1-108Q has achieved a median 2-qubit-gate fidelity of approximately 99.1% with gate speeds of roughly 60 nano seconds and a medium single qubit gate fidelity of 99.9%. | Missed |
2 of Rigetti Computing, Inc.'s 15 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 12 more targets are in the full ledger.
Claimed
- Revenue increased to $5.1 million in Q2 FY26, up from $1.8 million in Q2 FY25, driven by on-premises Novera QPU sales.
- Gross margin improved significantly to 43% in Q2 FY26, compared to 31% in the prior year period.
- Secured a Letter of Intent with the U.S. Department of Commerce for up to $100 million in CHIPS Act funding over 3 years.
- Expanded collaboration with HPE and the Pittsburgh Supercomputing Center to develop a hybrid quantum-classical supercomputer.
- Cepheus-1-108Q maintains strong performance with median single qubit gate fidelity of approximately 99.9% and median 2-qubit gate fidelity of roughly 99.1%.
Qualified
- GAAP net loss widened to $52.6 million in Q2 FY26, compared to $39.7 million in Q2 FY25.
- Non-GAAP net loss increased to $16 million ($0.05 per diluted share) in Q2 FY26, up from $13.3 million ($0.04 per diluted share) in Q2 FY25.
- Total operating expenses rose to $30.3 million in Q2 FY26 from $20.4 million in Q2 FY25, primarily due to R&D investments.
- Stock-based compensation increased to $7 million in Q2 FY26, compared to $3.6 million in the prior year period.
Price
$12.63 +8.13% · +$0.95
Performance −77.5% 1Y
1Y: $56.12 on 14 Oct 2025 → $12.63. High $56.34 (15 Oct 2025), low $11.68 (14 Oct 2026).
- Previous close
- $11.68
- 52-week range
- $11.68 – $56.34
- One year
- −77.58%
Overview
- Symbol
- RGTI
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
4 of 6 judged targets kept · 9 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Novera $5.7 million purchase-order revenue recognition | $5.7 million of Novera QPU purchase orders (2 systems) to be recognized upon shipment, split across Q1 and Q2 of 2026 | Sep 2025 | The year-over-year increase was driven by on-premises Novera QPU sales, reflecting recognition of previously announced Novera purchase orders. | Achieved |
| 1,000+ qubit chiplet-based system, median 2-qubit gate fidelity | 1,000+ qubit system with 99.8% median 2-qubit gate fidelity, by or around end of 2027 | Sep 2025 | Our objective remains to reach approximately 1,000 qubits, 2 qubit gate fidelities of 99.9% and gate speed below 40 nanoseconds in roughly 3 years. | Diluted |
| 100+ qubit chiplet-based system, median 2-qubit gate fidelity | 100+ qubit chiplet-based system with 99.5% median 2-qubit gate fidelity, released by end of 2025 | Sep 2024 | Today, Cepheus-1-108Q has achieved a median 2-qubit-gate fidelity of approximately 99.1% with gate speeds of roughly 60 nano seconds and a medium single qubit gate fidelity of 99.9%. | Missed |
Claimed
- Revenue increased to $5.1 million in Q2 FY26, up from $1.8 million in Q2 FY25, driven by on-premises Novera QPU sales.
- Gross margin improved significantly to 43% in Q2 FY26, compared to 31% in the prior year period.
- Secured a Letter of Intent with the U.S. Department of Commerce for up to $100 million in CHIPS Act funding over 3 years.
- Expanded collaboration with HPE and the Pittsburgh Supercomputing Center to develop a hybrid quantum-classical supercomputer.
- Cepheus-1-108Q maintains strong performance with median single qubit gate fidelity of approximately 99.9% and median 2-qubit gate fidelity of roughly 99.1%.
Qualified
- GAAP net loss widened to $52.6 million in Q2 FY26, compared to $39.7 million in Q2 FY25.
- Non-GAAP net loss increased to $16 million ($0.05 per diluted share) in Q2 FY26, up from $13.3 million ($0.04 per diluted share) in Q2 FY25.
- Total operating expenses rose to $30.3 million in Q2 FY26 from $20.4 million in Q2 FY25, primarily due to R&D investments.
- Stock-based compensation increased to $7 million in Q2 FY26, compared to $3.6 million in the prior year period.
The full ledger
Open Rigetti Computing, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 15 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 11, 2026
Rigetti Computing Q1 FY26 — Cepheus-1-108Q General Availability & Strong Revenue Growth
Read the full callDec 2025 (Q4 FY25) — Mar 4, 2026
Rigetti Computing Q4 FY25 — Technical Validation and Strategic Deployments
Read the full callEvery analysed call
Rigetti earnings calls (RGTI)
Financials
What the filings say
Net profit, year on year: −33% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 2 | 2 | 1 | 2 | 2 | 2 | 4 | 5 |
| Operating profit | -17 | -18 | -22 | -20 | -21 | -23 | -26 | -28 |
| Operating margin | −729.4% | −813.3% | −1469.6% | −1103.9% | −1055.4% | −1209.7% | −589.8% | −546.2% |
| Other income | 3 | -134 | 64 | -20 | -180 | 4 | 59 | -25 |
| Interest | 1 | 0 | — | — | — | — | — | — |
| Profit before tax | -15 | -153 | 43 | -40 | -201 | -18 | 33 | -53 |
| Tax rate | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Net profit | -15 | -153 | 43 | -40 | -201 | -18 | 33 | -53 |
| EPS ($ per share) | -0.08 | — | 0.15 | -0.13 | -0.62 | — | 0.10 | -0.16 |
| Line item | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 |
| Reserves | -207 | -279 | -354 | -555 | -771 |
| Total liabilities | 36 | 53 | 50 | 158 | 120 |
| Fixed assets | 22 | 40 | 44 | 45 | 57 |
| Investments | — | 85 | — | — | — |
| Total assets | 46 | 203 | 160 | 285 | 667 |
| Line item | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash from operations | -1 | -63 | -51 | -51 | -59 |
| Cash from investing | -345 | -107 | 1 | -78 | -403 |
| Cash from financing | 346 | 215 | 13 | 175 | 439 |
| Net cash flow | 1 | 46 | -36 | 46 | -23 |
| Capital expenditure | -7 | -23 | -9 | -11 | -19 |
| Free cash flow | -8 | -85 | -60 | -62 | -77 |
RGTI revenue by segment
| Segment | Q2 FY2024 | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Single Reportable | — | — | 100% | 100% | 100% | 100% | 100% | 100% | +185.3% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q2 FY2026 · share of revenue
- US 80% ↑ 15 pt
- Asia 16% ↑ 13 pt
- Europe 3% ↓ 29 pt
As RGTI cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
37 filings between Oct 17, 2025 and Sep 9, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$32.87M
22 sales by 8 insiders
36% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 6
- Award — granted as compensation
- 9
- Option exercise — converted options into shares
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Rivas David | — | $15.01M | Aug 20, 2026 |
| Kulkarni Subodh K | — | $4.50M | Sep 9, 2026 |
| Johnson Ray O | — | $4.35M | Jun 22, 2026 |
| Clifton Michael S. | — | $4.10M | Dec 9, 2025 |
| Sandford Helene Gail | — | $2.78M | Oct 17, 2025 |
| Fitzgerald Alissa | — | $1.33M | Jan 2, 2026 |
| Bertelsen Jeffrey A. | — | $697.0K | Sep 3, 2026 |
| Bestwick Andrew Joseph | — | $97.3K | Aug 20, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 9, 2026 | Kulkarni Subodh K President and CEO | Option exercise 10b5-1 plan | 150,000 | $144.6K |
| Sep 9, 2026 | Kulkarni Subodh K President and CEO | Sale 10b5-1 plan | 120,000 | $1.88M |
| Sep 3, 2026 | Bertelsen Jeffrey A. CHIEF FINANCIAL OFFICER | Sale 10b5-1 plan | 25,000 | $375.0K |
| Sep 3, 2026 | Bertelsen Jeffrey A. CHIEF FINANCIAL OFFICER | Option exercise 10b5-1 plan | 25,000 | $15.0K |
| Aug 20, 2026 | Bestwick Andrew Joseph CHIEF TECHNOLOGY OFFICER | Sale | 5,791 | $97.3K |
| Aug 20, 2026 | Bertelsen Jeffrey A. CHIEF FINANCIAL OFFICER | Sale | 3,860 | $65.2K |
| Aug 20, 2026 | Rivas David CHIEF OPERATING OFFICER | Sale | 9,038 | $151.7K |
| Aug 18, 2026 | Bestwick Andrew Joseph CHIEF TECHNOLOGY OFFICER | Award | 750,000 | $0 |
| Jun 22, 2026 | Johnson Ray O Director | Sale 10b5-1 plan | 84,944 | $1.75M |
| Jun 9, 2026 | Clifton Michael S. Director | Award | 9,208 | $0 |
| Jun 9, 2026 | Fitzgerald Alissa Director | Award | 9,208 | $0 |
| Jun 9, 2026 | Iannotti Thomas J Director | Award | 9,208 | $0 |
| Jun 9, 2026 | Johnson Ray O Director | Award 10b5-1 plan | 9,208 | $0 |
| Jun 8, 2026 | Johnson Ray O Director | Sale 10b5-1 plan | 116,217 | $2.47M |
| Jun 8, 2026 | Johnson Ray O Director | Sale 10b5-1 plan | 5,971 | $130.0K |
| Jun 1, 2026 | Kulkarni Subodh K President and CEO | Sale | 61,000 | $1.49M |
| May 29, 2026 | Rivas David CHIEF TECHNOLOGY OFFICER | Option exercise | 75,131 | $20.4K |
| May 29, 2026 | Rivas David CHIEF TECHNOLOGY OFFICER | Option exercise | 33,053 | $9.0K |
| May 29, 2026 | Rivas David CHIEF TECHNOLOGY OFFICER | Option exercise | 3,541 | $963 |
| May 29, 2026 | Rivas David CHIEF TECHNOLOGY OFFICER | Option exercise | 393 | $107 |
| May 29, 2026 | Rivas David CHIEF TECHNOLOGY OFFICER | Sale | 499,328 | $12.68M |
| May 28, 2026 | Kulkarni Subodh K President and CEO | Option exercise | 33,490 | $47.2K |
| May 28, 2026 | Kulkarni Subodh K President and CEO | Option exercise | 111,111 | $116.7K |
| May 28, 2026 | Kulkarni Subodh K President and CEO | Option exercise | 70,000 | $67.5K |
| May 28, 2026 | Kulkarni Subodh K President and CEO | Sale | 43,190 | $1.13M |
| May 22, 2026 | Bertelsen Jeffrey A. CHIEF FINANCIAL OFFICER | Sale | 13 | $333 |
| May 22, 2026 | Rivas David CHIEF TECHNOLOGY OFFICER | Sale | 18,729 | $429.9K |
| May 22, 2026 | Rivas David CHIEF TECHNOLOGY OFFICER | Sale | 30 | $769 |
| May 22, 2026 | Bertelsen Jeffrey A. CHIEF FINANCIAL OFFICER | Sale | 3,669 | $84.2K |
| Mar 10, 2026 | Rivas David CHIEF TECHNOLOGY OFFICER | Sale | 36,719 | $643.3K |
| Mar 10, 2026 | Rivas David CHIEF TECHNOLOGY OFFICER | Award | 80,000 | $0 |
| Mar 10, 2026 | Bertelsen Jeffrey A. CHIEF FINANCIAL OFFICER | Sale | 4,270 | $74.8K |
| Jan 2, 2026 | Fitzgerald Alissa Director | Sale 10b5-1 plan | 59,316 | $1.33M |
| Dec 9, 2025 | Clifton Michael S. Director | Sale 10b5-1 plan | 150,000 | $4.10M |
| Nov 20, 2025 | Rivas David CHIEF TECHNOLOGY OFFICER | Sale | 41,935 | $1.10M |
| Nov 20, 2025 | Bertelsen Jeffrey A. CHIEF FINANCIAL OFFICER | Sale | 3,702 | $97.6K |
| Oct 17, 2025 | Sandford Helene Gail Director | Sale 10b5-1 plan | 62,000 | $2.78M |
| Sep 19, 2025 | Sandford Helene Gail Director | Sale 10b5-1 plan | 17,634 | $436.4K |
| Sep 19, 2025 | Sandford Helene Gail Director | Sale 10b5-1 plan | 1 | $27 |
| Sep 12, 2025 | Sandford Helene Gail Director | Sale 10b5-1 plan | 2,649 | $48.2K |
| Sep 12, 2025 | Sandford Helene Gail Director | Sale 10b5-1 plan | 11,935 | $230.0K |
| Sep 12, 2025 | Sandford Helene Gail Director | Sale 10b5-1 plan | 2,643 | $52.6K |
| Sep 12, 2025 | Iannotti Thomas J Director | Option exercise 10b5-1 plan | 100,000 | $117.0K |
| Sep 12, 2025 | Iannotti Thomas J Director | Sale 10b5-1 plan | 100,000 | $1.95M |
| Sep 12, 2025 | Sandford Helene Gail Director | Sale 10b5-1 plan | 7,773 | $132.8K |
| Sep 12, 2025 | Clifton Michael S. Director | Sale 10b5-1 plan | 25,000 | $425.0K |
| Sep 12, 2025 | Johnson Ray O Director | Sale 10b5-1 plan | 126,295 | $2.53M |
| Sep 12, 2025 | Clifton Michael S. Director | Sale 10b5-1 plan | 50,000 | $1.00M |
| Sep 9, 2025 | Clifton Michael S. Director | Sale 10b5-1 plan | 100,000 | $1.54M |
| Aug 20, 2025 | Rivas David CHIEF TECHNOLOGY OFFICER | Sale | 44,355 | $658.5K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
Your own record
Start an Inve Case for Rigetti Computing, Inc.
Free account. Everything above stays public.
Write why you follow Rigetti Computing, Inc. and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
Keep reading