Rigetti Computing, Inc. is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: RGTI reported a 211.8% YoY surge in gross profit to $1.38M in Q1 2026, but operating losses widened to -$25.95M as R&D spending jumped 29.1%, while net income of $33.1M was driven by non-operating items rather than core operations.
Drawn from management commentary in the Q1 2026 10-Q:
Gross profit surged 211.8% YoY to $1.38M, with cost of revenue rising 193.4% to $3.02M, suggesting meaningful top-line growth in quantum computing services and products, though the absolute revenue scale remains small.
Operating loss deepened to -$25.95M from -$21.63M a year ago (-20.0% YoY), primarily driven by a 29.1% increase in R&D expense to $19.96M, reflecting continued heavy investment in quantum technology development.
Net income of $33.1M (down 22.3% YoY from $42.6M) significantly exceeded operating income, indicating substantial non-operating gains — likely from fair value adjustments, warrant revaluations, or investment income — masking the underlying operational cash burn.
Cost of Revenue
$3.02M
++193.40% YoY
EPS (Basic)
$0.10
-33.33% YoY
Operating Income
$-25.95M
-19.97% YoY
Add RGTI to your watchlist to get the AI analysis in your inbox within minutes of the 10-Q filing.