Rigetti 3Q 2026: Revenue $1.41M, EPS ($0.08) — 10-Q Summary

What happened

Rigetti reported third-quarter 2026 revenue of $1.41M, down 27.5% from a year earlier as collaborative research and professional services revenue fell. Net loss narrowed to $3.14M, helped by a favorable change in derivative warrant liability value, despite higher research and development and administrative expenses.

Confirmed

Global impact / market context

Lower revenue shows that Rigetti’s research and services income weakened, while the smaller net loss does not by itself indicate stronger underlying operations because a favorable accounting change helped. Continued spending on research and administration may keep costs elevated unless revenue grows or other support offsets them.

Analyst inference

Rigetti also reported that its 108-qubit system was generally available through several computing platforms and that a federal award of up to $100M is tied to milestones. These developments could support research funding and access, but the award is not unconditional revenue.

Analyst inference

What to watch

1. Watch whether collaborative research and professional services revenue stabilizes or falls further; that stream made up most reported revenue and drove the year-over-year decline. Analyst inference
2. Track progress against the CHIPS Act award milestones, because the Department of Commerce agreed to provide up to $100M only subject to meeting them. Confirmed
3. Compare future net losses with cash available and research spending to see whether the narrower loss reflects operating improvement or mainly changes in warrant liability value. Analyst inference

Evidence

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