Quantum computing pioneer advances scalability roadmap while growing commercial and institutional adoption
Rigetti Computing (RGTZ) reported first-quarter 2026 financial results alongside major technology milestones that highlight the company’s push toward scalable quantum computing and broader commercial adoption.
Rigetti generated $4.4 million in revenue during the quarter ended March 31, 2026, while reporting an operating loss of $26 million. The company posted GAAP net income of $33.1 million, though non-GAAP net loss totaled $14.7 million. Rigetti ended the quarter with a strong balance sheet, holding approximately $569 million in cash, cash equivalents, and available-for-sale investments with no outstanding debt.
A major highlight of the quarter was the general availability launch of Rigetti’s new 108-qubit Cepheus-1-108Q quantum computing system. The platform is now accessible through Rigetti QCS as well as major cloud platforms including Amazon Braket and Microsoft Azure Quantum. According to CEO Subodh Kulkarni, the system is one of the most powerful generally available gate-based quantum computers currently on the market.
The modular architecture behind the system uses twelve interconnected 9-qubit chiplets, supporting Rigetti’s long-term strategy to scale quantum hardware efficiently. The company also continued expanding its on-premises quantum hardware business, including the shipment of a Novera quantum processing unit to the University of Saskatchewan for its first quantum computing system.
Rigetti additionally announced plans to invest up to $100 million in the United Kingdom over the next several years to support the deployment of a future 1,000-qubit quantum computing system.
Beyond scaling efforts, Rigetti reported continued progress in system fidelity and performance. The company achieved median two-qubit gate fidelity of 99.8% with ultra-fast gate speeds, an important benchmark for improving reliability and advancing toward practical quantum advantage.
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