Rigetti Computing’s Revenue Gains and Analyst Upside Forecasts

Rigetti Computing reported a 199% year‑over‑year revenue increase to $4.4 million in the first quarter of 2026, driven by government contracts and deliveries of its on‑premises Novera quantum processing units. The company ended the quarter with about $569 million in cash, cash equivalents and investments and no debt, providing several years of financial runway.

Analysts project strong second‑quarter earnings growth of roughly 40% and expect the stock to trade near $31, implying more than 100% upside from its recent closing price. The firm also plans to launch its 108‑qubit Cepheus‑1 quantum system in 2026 and has joined the U.S. Defense Advanced Research Projects Agency’s Quantum Benchmarking Initiative, receiving a $1 million award.

The broader quantum‑computing sector has seen a recent pullback, with the Defiance Quantum ETF down about 12% since early June, yet Wall Street maintains long‑term optimism for pure‑play companies like Rigetti.