Image source: The Motley Fool. DATE Thursday, Aug. 6, 2026 at 5:00 p.m. ET CALL PARTICIPANTS - Chief Executive Officer - Subodh Kulkarni - Chief Financial Officer - Jeffrey Bertelsen TAKEAWAYS - Revenue -- $5.1 million for Rigetti Computing, Inc. (RGTI +1.07%), driven by on-premises Novera QPU sales during the second quarter. - Gross Margin -- 43% for the quarter, reflecting improvements from 31% in the prior year driven by contract mix and pricing. - Non-GAAP Net Loss -- $16 million or $0.05 per diluted share, compared to $13.3 million or $0.04 per share in the second quarter of 2025. - Cash and Investments -- $541.3 million as of June 30, 2026, which management believes provides sufficient runway for technology milestones. - R&D Expense -- $20.7 million for the quarter, focused on engineering headcount, fabrication, and infrastructure for higher qubit count systems. - Department of Commerce Funding -- Up to $100 million over three years, intended to accelerate superconducting quantum computing R&D through the CHIPS Act. - C-DAC Order Value -- $8.4 million for a 108-qubit system in India, with revenue recognition expected in the fourth quarter of 2026. - Cepheus-1-108Q Fidelity -- 99.9% median single-qubit and 99.1% median 2-qubit gate fidelity, maintaining performance levels at the 100-plus qubit scale. - Cepheus-1-108Q Gate Speed -- Approximately 60 nanoseconds, which management stated is 1,000 to 10,000 times faster than alternative modalities. - Coherence Times -- 25 to 30 microseconds, with a strategic goal to double or triple these times through material and design initiatives. - 3-Year Technology Goal -- 1,000 qubits and 99.9% 2-qubit gate fidelity, utilizing a modular chiplet-based architecture. - 9-Qubit Median Fidelity -- 99.8% 2-qubit gate fidelity, representing technical progress on the Novera platform. - 36-Qubit Median Fidelity -- 99.6% 2-qubit gate fidelity, driven by design optimizations in