Rigetti Reports Q2 Revenue Surge, Widening Losses Amid Aggressive Investment

Rigetti Computing reported Q2 2026 revenues of $5.1mln, up from $1.8mln YoY, driven by sales of its 9-qubit Novera systems. However, customer concentration remains high, with one client accounting for 64% of quarterly revenues. The company's operating expenses jumped 48% YoY to $30.3mln, resulting in an operating loss of $28.1mln. Rigetti is investing aggressively in expanding its quantum capabilities, which is expected to remain elevated in the future.