$RGTI

Quantum computing companies report varying revenue and financial health. IonQ (IONQ) generated $80.1M in Q2, while D-Wave (QBTS) and Rigetti (RGTI) reported $3M and $5.1M, respectively. IBM (IBM) invests heavily but doesn't separate quantum revenue. IonQ shows revenue growth but high cash burn. D-Wave and Rigetti rely on stock sales for funding. Alphabet and Nvidia (NVDA) are involved but not yet selling quantum products.

Quantum computing stocks IonQ (IONQ), Rigetti (RGTI), and D-Wave (QBTS) rebounded 2-3% after a dilution scare. IonQ's $2B equity offering priced below market, causing a drop. Despite a 28% YTD decline, IonQ reported Q2 2026 revenue of $80.05M, up 286.8% YoY, and raised FY 2026 guidance to $280-290M. The company remains unprofitable with a $3.43 per share loss over the past year.

BigBear.ai (NYSE:BBAI) and Rigetti Computing (NASDAQ:RGTI) are compared as investment options. BigBear.ai reported $127.7M revenue in FY 2025, a 19.3% decrease, with a net loss of $293.9M. Rigetti reported $7.1M revenue, a 34.3% decline, with a net loss of $216.2M. Both face risks from customer concentration and financial instability. BigBear.ai has a P/S ratio of 8.7x, while Rigetti's is 321.9x. Neither has a Forward P/E.

IonQ (IONQ) stock fell 6% to $32.76 after a $2B equity offering, following a $1.3B all-stock deal for Elisity. D-Wave (QBTS) and Rigetti (RGTI) also declined 4%. IonQ's Q2 2026 revenue grew 286.8% YoY to $80.05M, with a raised 2026 outlook of $280M-$290M. Dilution concerns persist due to increased share count.

Rigetti Computing (RGTI) is focusing on improving quantum processor quality, with coherence time being a key challenge for its 108-qubit Cepheus system. The company is working on chip redesigns and materials innovations to potentially double or triple coherence times. Rigetti's shares have fallen 36.7% year-to-date, and it trades at a price-to-book ratio of 8.71. The Zacks Consensus Estimate for 2026 earnings suggests a 70.3% improvement.

Rigetti Computing (RGTI) shares fell 68% in a year, despite a $4.7B valuation and $0.2B loss. Revenue rose to $5.1M in Q2 2026, driven by Novera quantum computing system sales. A $8.4M order from C-DAC for a 108-qubit system is pending. RGTI trades at 350.1x sales, far above the S&P 500's 3.1x.

Quantum computing stocks like IONQ, QBTS, RGTI, and QUBT fell sharply on Wednesday due to rising U.S. Treasury yields, which increased borrowing costs and affected valuations of speculative tech companies. The 10-year Treasury yield briefly hit 5.36%, its highest since 2002. IonQ announced a $300 million DARPA agreement after market close, unrelated to the day's decline.

Rigetti Computing reported a 185% YoY revenue increase to $5.1M in Q2 2026, driven by quantum computing system sales, but faces risks from customer concentration and high R&D costs. Operating expenses rose 48% YoY to $30.3M, widening the operating loss to $28.1M. The company's liquidity position is $541.3M, but sustained losses may pressure cash resources. Peers IonQ and D-Wave also reported developments in quantum technology and funding.

Rigetti Computing (RGTI) anticipates an $8.4M quantum computer sale to India's C-DAC, equating to 84% of Q4 revenue estimates. The order is pending customer approval. Analysts expect $10M in Q4 revenue, nearly doubling Rigetti's largest quarter in five years. Shares are down 31.6% YTD. Management reaffirmed a fidelity target for its flagship machine. The company trades at 161x NTM EV/revenue.

IonQ (NYSE:IONQ) rose 12% after testing a quantum error decoder and partnering with NVIDIA. Rigetti (NASDAQ:RGTI) also gained. IonQ's Q2 revenue was $80M, up 287% YoY, with 2026 guidance raised to $280-290M. IonQ has $2B in pro-forma cash, while Rigetti has $540M. IonQ's market cap is $17.48B, with a 39x forward P/S multiple.