Rigetti Computing (RGTI) will announce its second-quarter earnings after the market closes on Thursday, August 6. Wall Street expects the quantum computing company to report a loss per share of $0.05, in line with the prior-year quarter. Revenue is projected to surge 182% year-over-year to $5.09 million. In the past four quarters, Rigetti’s bottom line mostly met market expectations.
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Meanwhile, options traders expect a major move in RGTI stock in reaction to Q2 earnings.
What to Watch in Rigetti’s Q2 Earnings
Investors will closely assess the company’s Q2 2026 top line, mainly revenue recognition from Novera quantum processing unit (QPU) deliveries. In September 2025, RGTI announced purchase orders worth $5.7 million for two 9-qubit Novera quantum computing systems, with deliveries expected in the first half of 2026.
Additionally, investors will focus on traction for RGTI’s Cepheus-1-108Q system. In April 2026, the company announced the general availability of this system via the Rigetti Quantum Cloud Services (QCS) platform and through Amazon Braket, the quantum computing service offered by Amazon’s (AMZN) AWS cloud unit. It is also available on Microsoft’s (MSFT) Azure Quantum and qBraid. Rigetti is targeting about 99.5% median two-qubit gate fidelity for this system by the end of 2026.
Moreover, investors will scrutinize progress on the company’s technology roadmap and comments on commercial momentum for RGTI’s offerings. They await updates on RGTI’s work on a 1,000+ qubit system in the U.K. Focus will also be on the company’s cash position to assess its financial flexibility to fund growth investments.
Ahead of Q2 earnings, Benchmark analyst Gary Mobley reinstated coverage of Rigetti Computing stock with a price target of $25. Specifically, the 5-star analyst stated that RGTI continues to be “one of the most focused pure-play quantum computing chip companies in the public markets.”
Is RGTI Stock a Buy, Sell, or Hold?
Heading into Q2 earnings, Wall Street has a Moderate Buy consensus rating on Rigetti Computing stock based on six Buys and three Holds. The average RGTI stock price target of $30.71 indicates 83% upside potential. RGTI stock is down 24% year-to-date as investors are concerned about high valuations of speculative and AI plays.
