Rigetti reports $5.1M Q2 2026 revenue and publishes 108‑qubit system performance

【Article Title】 Rigetti reports $5.1M Q2 2026 revenue and publishes 108‑qubit system performance 【Article Body】 AI TRANSLATION This article is an AI-generated translation of the original Japanese article. For the authoritative version, please refer to the original. Read the original Japanese article → (https://quantumindex.jp/rigetti-q2-2026-results-roadmap/) Rigetti Computing reported second-quarter 2026 revenue of $5.1 million and an operating loss of $28.1 million. For its 108‑qubitqubitQubit / Quantum Bit / QubitThe basic unit of information in a quantum computer. It can represent not only 0 or 1 but also a quantum state that is a superposition of them.QI NoteHaving more qubits does not necessarily mean higher performance. Error rates, connectivity, coherence time, and the number of logical qubits are also important. Cepheus‑1‑108Q, the company said the median two‑qubit gate fidelitygate fidelityGate Fidelity / Gate Fidelity / Quantum Gate FidelityA measure of accuracy that indicates how closely a quantum gate operation was performed compared to the ideal operation.QI NoteHigher is generally better, but values depend on the measurement method and differ between single-qubit and two-qubit gates. When comparing, also check the evaluation conditions. was about 99.1% and median gate times reached roughly 60 nanoseconds. Rigetti also reported progress on hybrid quantum‑classical computingclassical computingClassical Computing / Classical Computation / Classical Computing / Classical ComputationA computation method that uses bits of 0 and 1; the form of computation performed by the computers commonly used today.QI NoteUsed as a point of comparison with quantum computing, but it can encompass CPUs, GPUs, supercomputers, and specialized algorithms, so care should be taken about the conditions of comparison. collaborations with HPE and others, and on a letter of intent for up to $100 million in funding from the U.S. Department of Commerce. Summary of the announcement Second‑quarter 2026 revenue was $5.1 million, up from $1.8 million in the year‑ago quarter. The operating loss was $28.1 million, GAAP net loss was $52.6 million, and non‑GAAP net loss was $16.0 million. As of the end of June 2026, cash, cash equivalents and marketable securities totaled $541.3 million. On the technical side, the 108‑qubit Cepheus‑1‑108Q recorded median single‑qubit gate fidelity of about 99.9%, median two‑qubit gate fidelity of about 99.1%, and median gate times of roughly 60 nanoseconds. For its 9‑qubit and 36‑qubit systems, median two‑qubit gate fidelities were 99.8% and 99.6%, respectively. Rigetti identified improving coherence times as a primary challenge and is working on chip design, manufacturing processes and materials improvements. The company outlined a roughly three‑year target to reach approximately 1,000 qubits with two‑qubit gate fidelity near 99.9% and gate times under 50 nanoseconds. Rigetti also plans to provide a 9‑qubit Novera system to the NSF‑supported TangleLab testbed in collaboration with HPE and the Pittsburgh Supercomputing Center. Rigetti has signed a letter of intent with the U.S. Department of Commerce regarding up to $100 million in funding for superconducting quantum computingsuperconducting quantum computingSuperconducting Quantum Computing / Superconducting Quantum Computing / Superconducting QubitAn implementation approach for quantum computers that operates superconducting circuits at ultra-low (cryogenic) temperatures and uses electrical quantum states as quantum bits (qubits).QI NoteCharacterized by fast gate operations, but performance is not determined by qubit count alone. Gate fidelity, coherence time, connectivity, and support for error correction should also be verified. R&D. The support is envisioned over three years, but the arrangement could involve government equity investment and a final agreement has not been reached. Key points • Q2 revenue was $5.1 million, up from $1.8 million year‑over‑year • Operating loss was $28.1 million; GAAP net loss $52.6 million; non‑GAAP net loss $16.0 million • Cepheus‑1‑108Q recorded a median two‑qubit gate fidelity of about 99.1% and median gate times of ~60 ns • Plan to provide a 9‑qubit system to a hybrid quantum‑classical supercomputer testbed with HPE • Outlined a roadmap toward ~1,000 qubits and disclosed a potential up to $100 million Commerce Department support Technical and business implications Technically, it is significant that Rigetti disclosed performance figures for a 108‑qubit system composed of twelve 9‑qubit chiplets. However, the median two‑qubit gate fidelity drops from 99.8% on the 9‑qubit system to 99.1% on the 108‑qubit system, highlighting that maintaining or improving fidelity while scaling remains a core validation challenge. This is why the company emphasizes improving coherence times. On the business side, Rigetti is advancing both cloud offerings and on‑premises deployments with HPC integration. End‑of‑period cash provides runway for continued R&D, but operating losses are widening. U.S. government support could accelerate R&D, yet at this stage the arrangement is a letter of intent and funding or equity terms are not finalized. What to watch next Key near‑term items are whether a final agreement with the U.S. Department of Commerce is reached and what funding or equity terms it contains. On the technical front, it will be important to see whether Rigetti can increase qubit counts while pushing two‑qubit gate fidelity toward 99.9% and demonstrate sub‑50‑nanosecond gate times on hardware. Also watch for the Novera deployment to TangleLab and whether on‑premises projects go into production and contribute to revenue growth. ✍️ Quantum Index Analysis For Quantum Index, the notable point in this announcement is not the absolute scale of 108 physical qubitsphysical qubitsPhysical Qubit / Physical QubitIndividual qubits that are physically created and manipulated on a quantum processor. They are also used to form logical qubits.QI NoteA large number of physical qubits does not by itself indicate practical computational capability. Error rates, connectivity, and the number of physical qubits required per logical qubit are also important. but that when scaled to 108 physical qubits the median two‑qubitqubitQubit / Quantum Bit / QubitThe basic unit of information in a quantum computer. It can represent not only 0 or 1 but also a quantum state that is a superposition of them.QI NoteHaving more qubits does not necessarily mean higher performance. Error rates, connectivity, coherence time, and the number of logical qubits are also important. gate fidelitygate fidelityGate Fidelity / Gate Fidelity / Quantum Gate FidelityA measure of accuracy that indicates how closely a quantum gate operation was performed compared to the ideal operation.QI NoteHigher is generally better, but values depend on the measurement method and differ between single-qubit and two-qubit gates. When comparing, also check the evaluation conditions. remained at only about 99.1%. Compared with 99.8% on the 9‑qubit system and 99.6% on the 36‑qubit system, the performance degradation with scale is apparent. Some superconducting systems of similar size report lower error rates, so treating 99.1% as leading‑edge would be difficult. Also, it goes without saying that 108 physical qubits do not equal 108 logical qubitslogical qubitsLogical Qubit / Logical QubitA unit of information treated as a single qubit protected from errors by using multiple physical qubits and quantum error correction.QI NoteSimply having “created a logical qubit” does not necessarily mean fault-tolerant quantum computing (FTQC) has been achieved. One should verify logical error rates, operational/gate performance, and scalability.. Rigetti did not disclose post‑error‑correction logical qubit counts or logical error rates; at this stage it is reasonable to view the announcement as demonstrating physical scale via a chiplet approach and reporting gate performance at that scale. The roadmap figures—~1,000 qubits and 99.9% fidelity—remain future plans. From a business perspective, with $5.1 million in revenue against a $28.1 million operating loss, product sales alone are not yet sustaining the business. As with other quantum hardware vendors, customers remain primarily government research agencies, universities and HPC centers rather than commercial enterprises seeking immediate computational advantage; purchases are for research infrastructure, workforce development, and validation of control and integration environments. Future assessment hinges on whether Rigetti can scale while improving fidelity, demonstrate logical‑qubit performance, and steadily grow revenue from research projects toward commercial demand. Related articles • D‑Wave demonstrates high‑fidelity two‑qubit gates with dual‑rail qubits (https://en.quantumindex.jp/dwave-dual-rail-entangling-gate-error-correction/) • Microsoft unveils topological quantum processor “Majorana 2” with average qubit lifetimes of 20 seconds (https://en.quantumindex.jp/microsoft-majorana-2-topological-quantum-processor/) • D‑Wave posts $3.1M revenue in Q2 2026 as H1 orders expand over tenfold (https://en.quantumindex.jp/dwave-q2-2026-financial-results/) Source Read the original press release (https://investors.rigetti.com/news-releases/news-release-details/rigetti-computing-reports-second-quarter-2026-financial-results) If you found this article useful, please consider sharing it. ──────────────────── 【AI Evaluation Request】 Evaluate the following article critically, not based on the quality of its writing, but on its **original informational value as a specialist publication**. 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Rigetti Computing reported second-quarter 2026 revenue of $5.1 million and an operating loss of $28.1 million. For its 108‑qubitqubitQubit / Quantum Bit / QubitThe basic unit of information in a quantum computer. It can represent not only 0 or 1 but also a quantum state that is a superposition of them.QI NoteHaving more qubits does not necessarily mean higher performance. Error rates, connectivity, coherence time, and the number of logical qubits are also important. Cepheus‑1‑108Q, the company said the median two‑qubit gate fidelitygate fidelityGate Fidelity / Gate Fidelity / Quantum Gate FidelityA measure of accuracy that indicates how closely a quantum gate operation was performed compared to the ideal operation.QI NoteHigher is generally better, but values depend on the measurement method and differ between single-qubit and two-qubit gates. When comparing, also check the evaluation conditions. was about 99.1% and median gate times reached roughly 60 nanoseconds. Rigetti also reported progress on hybrid quantum‑classical computingclassical computingClassical Computing / Classical Computation / Classical Computing / Classical ComputationA computation method that uses bits of 0 and 1; the form of computation performed by the computers commonly used today.QI NoteUsed as a point of comparison with quantum computing, but it can encompass CPUs, GPUs, supercomputers, and specialized algorithms, so care should be taken about the conditions of comparison. collaborations with HPE and others, and on a letter of intent for up to $100 million in funding from the U.S. Department of Commerce.

Summary of the announcement

Second‑quarter 2026 revenue was $5.1 million, up from $1.8 million in the year‑ago quarter. The operating loss was $28.1 million, GAAP net loss was $52.6 million, and non‑GAAP net loss was $16.0 million. As of the end of June 2026, cash, cash equivalents and marketable securities totaled $541.3 million. On the technical side, the 108‑qubit Cepheus‑1‑108Q recorded median single‑qubit gate fidelity of about 99.9%, median two‑qubit gate fidelity of about 99.1%, and median gate times of roughly 60 nanoseconds. For its 9‑qubit and 36‑qubit systems, median two‑qubit gate fidelities were 99.8% and 99.6%, respectively. Rigetti identified improving coherence times as a primary challenge and is working on chip design, manufacturing processes and materials improvements. The company outlined a roughly three‑year target to reach approximately 1,000 qubits with two‑qubit gate fidelity near 99.9% and gate times under 50 nanoseconds. Rigetti also plans to provide a 9‑qubit Novera system to the NSF‑supported TangleLab testbed in collaboration with HPE and the Pittsburgh Supercomputing Center. Rigetti has signed a letter of intent with the U.S. Department of Commerce regarding up to $100 million in funding for superconducting quantum computingsuperconducting quantum computingSuperconducting Quantum Computing / Superconducting Quantum Computing / Superconducting QubitAn implementation approach for quantum computers that operates superconducting circuits at ultra-low (cryogenic) temperatures and uses electrical quantum states as quantum bits (qubits).QI NoteCharacterized by fast gate operations, but performance is not determined by qubit count alone. Gate fidelity, coherence time, connectivity, and support for error correction should also be verified. R&D. The support is envisioned over three years, but the arrangement could involve government equity investment and a final agreement has not been reached.

Key points

• Q2 revenue was $5.1 million, up from $1.8 million year‑over‑year
• Operating loss was $28.1 million; GAAP net loss $52.6 million; non‑GAAP net loss $16.0 million
• Cepheus‑1‑108Q recorded a median two‑qubit gate fidelity of about 99.1% and median gate times of ~60 ns
• Plan to provide a 9‑qubit system to a hybrid quantum‑classical supercomputer testbed with HPE
• Outlined a roadmap toward ~1,000 qubits and disclosed a potential up to $100 million Commerce Department support

Technical and business implications

Technically, it is significant that Rigetti disclosed performance figures for a 108‑qubit system composed of twelve 9‑qubit chiplets. However, the median two‑qubit gate fidelity drops from 99.8% on the 9‑qubit system to 99.1% on the 108‑qubit system, highlighting that maintaining or improving fidelity while scaling remains a core validation challenge. This is why the company emphasizes improving coherence times. On the business side, Rigetti is advancing both cloud offerings and on‑premises deployments with HPC integration. End‑of‑period cash provides runway for continued R&D, but operating losses are widening. U.S. government support could accelerate R&D, yet at this stage the arrangement is a letter of intent and funding or equity terms are not finalized.

What to watch next

Key near‑term items are whether a final agreement with the U.S. Department of Commerce is reached and what funding or equity terms it contains. On the technical front, it will be important to see whether Rigetti can increase qubit counts while pushing two‑qubit gate fidelity toward 99.9% and demonstrate sub‑50‑nanosecond gate times on hardware. Also watch for the Novera deployment to TangleLab and whether on‑premises projects go into production and contribute to revenue growth.

✍️ Quantum Index Analysis

For Quantum Index, the notable point in this announcement is not the absolute scale of 108 physical qubitsphysical qubitsPhysical Qubit / Physical QubitIndividual qubits that are physically created and manipulated on a quantum processor. They are also used to form logical qubits.QI NoteA large number of physical qubits does not by itself indicate practical computational capability. Error rates, connectivity, and the number of physical qubits required per logical qubit are also important. but that when scaled to 108 physical qubits the median two‑qubitqubitQubit / Quantum Bit / QubitThe basic unit of information in a quantum computer. It can represent not only 0 or 1 but also a quantum state that is a superposition of them.QI NoteHaving more qubits does not necessarily mean higher performance. Error rates, connectivity, coherence time, and the number of logical qubits are also important. gate fidelitygate fidelityGate Fidelity / Gate Fidelity / Quantum Gate FidelityA measure of accuracy that indicates how closely a quantum gate operation was performed compared to the ideal operation.QI NoteHigher is generally better, but values depend on the measurement method and differ between single-qubit and two-qubit gates. When comparing, also check the evaluation conditions. remained at only about 99.1%. Compared with 99.8% on the 9‑qubit system and 99.6% on the 36‑qubit system, the performance degradation with scale is apparent. Some superconducting systems of similar size report lower error rates, so treating 99.1% as leading‑edge would be difficult.

Also, it goes without saying that 108 physical qubits do not equal 108 logical qubitslogical qubitsLogical Qubit / Logical QubitA unit of information treated as a single qubit protected from errors by using multiple physical qubits and quantum error correction.QI NoteSimply having “created a logical qubit” does not necessarily mean fault-tolerant quantum computing (FTQC) has been achieved. One should verify logical error rates, operational/gate performance, and scalability.. Rigetti did not disclose post‑error‑correction logical qubit counts or logical error rates; at this stage it is reasonable to view the announcement as demonstrating physical scale via a chiplet approach and reporting gate performance at that scale. The roadmap figures—~1,000 qubits and 99.9% fidelity—remain future plans.

From a business perspective, with $5.1 million in revenue against a $28.1 million operating loss, product sales alone are not yet sustaining the business. As with other quantum hardware vendors, customers remain primarily government research agencies, universities and HPC centers rather than commercial enterprises seeking immediate computational advantage; purchases are for research infrastructure, workforce development, and validation of control and integration environments. Future assessment hinges on whether Rigetti can scale while improving fidelity, demonstrate logical‑qubit performance, and steadily grow revenue from research projects toward commercial demand.

Related articles

• D‑Wave demonstrates high‑fidelity two‑qubit gates with dual‑rail qubits
• Microsoft unveils topological quantum processor “Majorana 2” with average qubit lifetimes of 20 seconds
• D‑Wave posts $3.1M revenue in Q2 2026 as H1 orders expand over tenfold

Source

Read the original press release