Quantum computing stocks IonQ (IONQ) and Rigetti Computing (RGTI) are heading into their third-quarter earnings reports after steep losses this year. IonQ stock is down 37.22% year to date, while Rigetti stock has fallen 51.83%. Both companies face questions about revenue growth and spending as they work to advance quantum computing technology.
However, Wall Street sees more upside in Rigetti Computing than IonQ, based on average analyst price targets. Analysts see 149.03% upside in Rigetti, compared with 132.36% for IonQ.
What to Expect from IonQ’s Q3 Earnings
IonQ will report its third-quarter results on November 5 after market close. Wall Street expects the company to report a loss of $0.34 per share, compared with a loss of $3.58 a year ago. Revenue is expected to rise 254% year over year to $141.2 million.
IonQ’s second-quarter results showed strong growth, with revenue rising 287% year over year to $80.1 million. The company also raised its 2026 revenue guidance to $280 million to $290 million, reflecting stronger demand for its quantum computing services.
Ahead of the report, B. Riley Securities analyst Craig Ellis maintained a Buy rating on IONQ stock but cut his price target to $75 from $100, still implying 166% upside from current levels. IonQ recently acquired SkyWater Technology, adding chip manufacturing capabilities to its business. Ellis expects the upcoming quarter to show early progress from the deal, including better manufacturing capacity and customer demand.
What to Expect from Rigetti Computing’s Q3 Earnings
Rigetti Computing will report its third-quarter results on November 10 after market close. Wall Street expects RGTI to report a loss of $0.05 per share. Revenue is expected to fall to $3.68 million from $5.14 million in the previous quarter.
Rigetti’s second-quarter revenue rose 185% year over year to $5.1 million, driven by Novera QPU system sales. However, the company reported a GAAP net loss of $52.6 million, compared with $39.7 million a year ago. Its stock hit a 52-week low of $10.60 on November 2 amid a wider selloff in quantum computing stocks.
Ahead of the report, B. Riley Securities’ Ellis expects Rigetti’s third quarter to be a low point, with revenue from its C-DAC system likely to be recorded in Q4. He cut his price target to $25 from $35 but maintained a Buy rating, suggesting he still sees upside despite near-term weakness.”
Wall Street Sees More Upside in Rigetti Than IonQ
According to TipRanks’ Stock Comparison Tool, IonQ and Rigetti Computing have different analyst consensus ratings. IonQ has a Strong Buy rating, with an average 12-month price target of $65.45, implying 132.36% upside. Meanwhile, Rigetti has a Moderate Buy rating, with an average price target of $26.57, suggesting 149.03% upside. (See IONQ Stock Forecast and RGTI Stock Forecast.)
