Rigetti Q1 Revenue Surge Signals Rising Quantum Demand Trends Rigetti Computing RGTI exited first-quarter 2026 with strong top-line momentum, driven by growing demand for its quantum computing systems and continued execution on its commercialization strategy. Revenues surged nearly 199% year over year to $4.4 million, primarily fueled by on-premises Novera QPU deliveries, related contracts and government-backed research projects. Rigetti’s expanding cloud presence was another key highlight, as its newly launched 108-qubit Cepheus-1-108Q system became generally available on Rigetti Quantum Cloud Services, Amazon Braket, Microsoft Azure Quantum and qBraid. Management believes Cepheus-1-108Q is currently one of the most powerful generally available gate-based quantum computers in the market, strengthening Rigetti’s positioning in the rapidly evolving quantum computing landscape. The quarter also reflected meaningful progress on Rigetti’s technology roadmap toward achieving quantum advantage over the next three years. The company highlighted improving fidelities, faster gate speeds and continued advancements in its proprietary chiplet-based scaling architecture. Rigetti achieved approximately 99.1% median two-qubit gate fidelity on the 108-qubit system while prototype systems demonstrated fidelities as high as 99.9% with faster gate speeds, signaling further room for performance improvement. Management also emphasized growing customer engagement for Novera QPUs and system-level contracts, including the previously announced $8.4 million C-DAC order in India, which is expected to contribute revenues later this year. Backed by a strong cash balance of nearly $569 million and no debt, Rigetti remains well-positioned to continue investing aggressively in R&D, infrastructure and global expansion initiatives, including its planned $100 million investment in the United Kingdom. Peers Updates D-Wave Quantum QBTS has also been making aggressive moves to strengthen its commercial quantum computing positioning, although its first-quarter 2026 results reflected a mixed picture. Revenues declined nearly 81% year over year to $2.9 million due to the absence of a large system sale recorded in the