We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Rigetti's Expanding Commercial Base Strengthens Growth Prospects
Read MoreHide Full Article
Key Takeaways
Rigetti's first two 9-qubit systems delivered in 2026 went to commercial customers for research.
Rigetti sees an expanding pipeline across commercial enterprises, universities and governments.
Rigetti's $8.4 million C-DAC order for a 108-qubit system remains on track for fourth-quarter revenues.
Rigetti Computing’s (RGTI - Free Report) second-quarter 2026 results highlighted a potentially important shift in the quantum computing market, with commercial traction emerging alongside government and academic demand. While government-backed programs and research institutions remain important sources of opportunity, management noted that the company is increasingly seeing commercial organizations purchase on-premises quantum systems.
Rigetti said that its first two 9-qubit systems delivered in 2026 went to commercial customers, which purchased the systems primarily for research and experimentation rather than practical workloads. This marks a notable change from a year or two ago, when commercial demand was largely absent. The trend also contributed to the company’s first-half revenue growth, with management specifically attributing a significant portion of sales growth to commercial organizations purchasing on-premises quantum systems.
The broader customer pipeline appears to be expanding across commercial enterprises, universities and governments, giving Rigetti multiple avenues for future system deployments. The company reported additional Novera demand from national laboratories and universities, including the University of Saskatchewan and a research arm of a large Japanese conglomerate.
Meanwhile, its $8.4 million C-DAC order for a 108-qubit system remains on track for revenue recognition in the fourth quarter, while the HPE-Pittsburgh Supercomputing Center collaboration is expected to place a full 9-qubit Rigetti system into an HPC environment in 2027. The latter could be particularly meaningful as it moves Rigetti beyond standalone quantum computing toward hybrid quantum-classical computing, potentially demonstrating how superconducting quantum systems can complement conventional CPUs and GPUs.
Peers Updates
D-Wave Quantum (QBTS - Free Report) posted $3.1 million in revenues in the second quarter of 2026, essentially flat year over year. The company recognized revenues from approximately 100 customers, with commercial enterprises accounting for roughly 62.4% of revenues, up from 45.1% a year earlier.
D-Wave’s QCaaS subscription revenues jumped 50% year over year to $1.9 million, while professional services revenues grew more than 18% to roughly $900,000. Systems and other revenues were $300,000, largely from installation and site preparation related to the $20 million Florida Atlantic University sale.
IonQ (IONQ - Free Report) continues to strengthen its position in quantum computing by expanding its vertically integrated, full-stack platform. The company recently completed the acquisition of SkyWater Technology, creating a U.S.-based quantum foundry and strengthening its control over semiconductor manufacturing, advanced packaging and supply-chain capabilities. The transaction is expected to accelerate IonQ’s fault-tolerant quantum computing roadmap while supporting secure, end-to-end development of its quantum computing, networking, sensing and security technologies.
Rigetti’s Price Performance, Valuation and Estimates
Shares of RGTI have lost 15.1% in the year-to-date period compared with the industry’s decline of 1.1%.
Image Source: Zacks Investment Research
From a valuation standpoint, Rigetti trades at a price-to-book ratio of 11.69, above the industry average. RGTI carries a Value Score of F.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Rigetti’s 2026 earnings implies a significant 71.9% improvement from the year-ago period.
View the Zacks #1 Rank List
Image: Bigstock
Rigetti's Expanding Commercial Base Strengthens Growth Prospects
Key Takeaways
Rigetti Computing’s (RGTI - Free Report) second-quarter 2026 results highlighted a potentially important shift in the quantum computing market, with commercial traction emerging alongside government and academic demand. While government-backed programs and research institutions remain important sources of opportunity, management noted that the company is increasingly seeing commercial organizations purchase on-premises quantum systems.
Rigetti said that its first two 9-qubit systems delivered in 2026 went to commercial customers, which purchased the systems primarily for research and experimentation rather than practical workloads. This marks a notable change from a year or two ago, when commercial demand was largely absent. The trend also contributed to the company’s first-half revenue growth, with management specifically attributing a significant portion of sales growth to commercial organizations purchasing on-premises quantum systems.
The broader customer pipeline appears to be expanding across commercial enterprises, universities and governments, giving Rigetti multiple avenues for future system deployments. The company reported additional Novera demand from national laboratories and universities, including the University of Saskatchewan and a research arm of a large Japanese conglomerate.
Meanwhile, its $8.4 million C-DAC order for a 108-qubit system remains on track for revenue recognition in the fourth quarter, while the HPE-Pittsburgh Supercomputing Center collaboration is expected to place a full 9-qubit Rigetti system into an HPC environment in 2027. The latter could be particularly meaningful as it moves Rigetti beyond standalone quantum computing toward hybrid quantum-classical computing, potentially demonstrating how superconducting quantum systems can complement conventional CPUs and GPUs.
Peers Updates
D-Wave Quantum (QBTS - Free Report) posted $3.1 million in revenues in the second quarter of 2026, essentially flat year over year. The company recognized revenues from approximately 100 customers, with commercial enterprises accounting for roughly 62.4% of revenues, up from 45.1% a year earlier.
D-Wave’s QCaaS subscription revenues jumped 50% year over year to $1.9 million, while professional services revenues grew more than 18% to roughly $900,000. Systems and other revenues were $300,000, largely from installation and site preparation related to the $20 million Florida Atlantic University sale.
IonQ (IONQ - Free Report) continues to strengthen its position in quantum computing by expanding its vertically integrated, full-stack platform. The company recently completed the acquisition of SkyWater Technology, creating a U.S.-based quantum foundry and strengthening its control over semiconductor manufacturing, advanced packaging and supply-chain capabilities. The transaction is expected to accelerate IonQ’s fault-tolerant quantum computing roadmap while supporting secure, end-to-end development of its quantum computing, networking, sensing and security technologies.
Rigetti’s Price Performance, Valuation and Estimates
Shares of RGTI have lost 15.1% in the year-to-date period compared with the industry’s decline of 1.1%.
Image Source: Zacks Investment Research
From a valuation standpoint, Rigetti trades at a price-to-book ratio of 11.69, above the industry average. RGTI carries a Value Score of F.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Rigetti’s 2026 earnings implies a significant 71.9% improvement from the year-ago period.
Image Source: Zacks Investment Research
The company currently has a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.