Rigetti Computing (RGTI Quick QuoteRGTI - Free Report) is slated to release first-quarter 2026 results on May 11, after market close. The Zacks Consensus Estimate for sales and loss per share is pegged at $3.25 million and 5 cents, respectively. Loss per share estimates for RGTI have remained stable at 16 cents for both 2026 and 2027, respectively, over the past 30 days.

RGTI’s first-quarter performance is likely to have reflected growing momentum in on-premises quantum system deployments, supported by contributions from previously announced Novera system orders and continued progress across its superconducting quantum computing roadmap.

Rigetti’s close peers, IonQ (IONQ Quick QuoteIONQ - Free Report) andD-Wave Quantum(QBTS Quick QuoteQBTS - Free Report) , are slated to announce their quarterly numbers in the upcoming weeks. (Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.)

Estimate Movement

In the last reported quarter, RGTI delivered an earnings surprise of 40%. Its earnings beat estimates in three of the trailing four quarters, missed once, delivering an average surprise of 9.17%.

In the last reported quarter, IONQ delivered an earnings surprise of 502.1%, whereas QBTS delivered a negative earnings surprise of 140%.

What the Zacks Model Unveils

Per our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold), along with a positive Earnings ESP, has higher chances of beating estimates. This is not the case here, as you can see below.

Earnings ESP: RGTI has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

Zacks Rank: The company currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Rigetti Computing, Inc. Price and EPS Surprise

Rigetti Computing, Inc. price-eps-surprise | Rigetti Computing, Inc. Quote

Factors to Note Ahead of RGTI’s Q1 Results

RGTI’s first-quarter 2026 results are likely to reflect growing momentum in on-premises quantum computing deployments and continued progress across its chiplet-based scaling roadmap. During the quarter, the company announced the general availability of its 108-qubit quantum computing system, representing a key milestone in Rigetti’s commercialization efforts and broader push toward larger-scale superconducting quantum systems. The launch is likely to have supported customer engagement among government labs, research institutions and early commercial users seeking scalable hybrid quantum-classical computing infrastructure.

RGTI’s first-quarter performance is also expected to have benefited from increasing contributions from recently announced Novera system orders, with management previously indicating that a portion of the related revenue would be recognized in the first quarter. Demand for on-premises systems appears to be strengthening globally, particularly among sovereign and research customers focused on quantum infrastructure development. The company’s open modular architecture, chiplet strategy and partnerships spanning error correction, optical networking and AI supercomputing are likely to have remained key differentiators supporting broader adoption and platform activity during the quarter.

Meanwhile, continued advancements in fidelity and gate-speed performance are expected to have remained central to investor focus. Rigetti recently highlighted achieving 99.9% two-qubit gate fidelity at 28-nanosecond gate speed using its proprietary Adiabatic CZ gate scheme, reinforcing confidence in its longer-term roadmap toward systems exceeding 1,000 qubits. Management also remains optimistic regarding future government-backed opportunities tied to DARPA, U.S. national initiatives and international quantum programs. With a strong balance sheet and no debt, Rigetti appears well-positioned to continue funding its scaling efforts while advancing toward commercially meaningful quantum advantage over the next several years.

RGTI’s Price Performance & Valuation

Rigetti’s shares have lost 9.3% in the year-to-date period compared with the industry’s 12.7% decline. The company’s shares have underperformed the S&P 500 Index’s gain of 6.8% as well as the Zacks Computer and Technology sector’s increase of 11.9%.

RGTI has also underperformed IONQ’s 17.1% gain and QBTS’8.9% decline in the year-to-date period.

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In terms of valuation, RGTI trades at a Price-to-Book (P/B) ratio of 12.22, higher than IonQ (5.05) and D-Wave Quantum (10.34). Despite IONQ and QBTS offering lower multiples, RGTI’s premium reflects stronger growth expectations.

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Investment Thesis

RGTI continues to strengthen its long-term positioning in superconducting quantum computing through steady progress in fidelity, gate speed and chiplet-based scalability. Management remains focused on reaching commercially meaningful quantum advantage rather than near-term headline milestones, with its roadmap targeting systems exceeding 1,000 qubits and approximately 99.8%-99.9% two-qubit gate fidelity over the next few years. The recent general availability of Rigetti’s 108-qubit chiplet-based system represents an important validation of its modular scaling strategy, particularly as the company believes chiplets offer the most practical path toward larger quantum architectures.

Recent technical achievements, including 99.9% two-qubit gate fidelity at 28-nanosecond gate speed using the proprietary Adiabatic CZ gate scheme, further reinforce confidence in the platform’s long-term competitiveness. As the quantum industry evolves, investors are likely to remain focused on measurable execution metrics such as fidelity improvements, qubit scaling, gate speed optimization and successful customer deployments rather than near-term revenue variability.

At the same time, Rigetti appears increasingly well-positioned to capitalize on growing demand for hybrid quantum-classical computing infrastructure from governments, national labs and research institutions globally. The company’s expanding pipeline of on-premises systems, including the recently announced C-DAC deployment in India and Novera-related activity across international research organizations, highlights rising sovereign and enterprise interest in scalable quantum systems.

Rigetti’s open modular architecture and ecosystem-driven strategy also continue to differentiate the company from its peers. Partnerships involving Riverlane for quantum error correction, NVIDIA for hybrid AI-supercomputing integration and QphoX for optical networking support broader platform development while reducing execution risk.

Combined with a strong balance sheet of roughly $590 million in cash and no debt, Rigetti retains the financial flexibility to continue investing aggressively in R&D, fabrication and system integration as it advances toward long-term commercialization opportunities in quantum computing.

How to Approach Rigetti Stock Ahead of Q1 Results?

Ahead of first-quarter 2026 results, RGTI continues to demonstrate encouraging execution across its quantum computing roadmap, supported by growing on-premises system demand and continued progress in chiplet-based scaling. The recent launch of its 108-qubit system and improving customer engagement across government and research markets reinforce the company’s long-term opportunity in superconducting quantum computing.

However, commercial adoption of quantum computing remains at an early stage, and quarterly financial performance is likely to remain volatile as revenues continue to depend heavily on project timing and system deployments. While Rigetti’s strong cash position supports ongoing innovation and scaling efforts, investors may prefer to wait for clearer visibility into sustainable revenue growth and broader commercial traction before turning more bullish on the stock.