Filing Flows › Rigetti Computing (RGTI) › Q1 2026
Rigetti Computing (RGTI) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 11, 2026
Rigetti Computing (RGTI) reported revenue of $4.4M for the first quarter 2026 (Q1 2026), +199% from a year earlier and +136% from the quarter before. Operating margin was -589.8%, net earnings $33.1M (752.5% of revenue).
Rigetti Computing, Q1 2026: revenue $4.4M (+199% year over year), operating margin -589.8%, net earnings $33.1M, operating cash flow −$16.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.4M | +136% | +199% |
| Operating profit | −$26.0M | — | — |
| Net earnings | $33.1M | — | -22% |
| Operating cash flow | −$16.2M | — | — |
What changed
Revenue was $4.4M in Q1 2026, up 199% year over year and up 136% from the previous quarter. Sales of quantum computers and quantum components was the largest line at 69% of revenue. Access to quantum computing systems declined 61%.
Gross margin was 31.3%, up 1.3 points from Q1 2025. Operating costs exceeded revenue by $26.0M, an operating margin of -589.8%. Operating expenses grew 24% against revenue growth of 199%. The fastest-growing cost line was Research & development (+29%). Net earnings were $33.1M, down 22% year over year. The effective tax rate was 0.0%. Non-operating items added $59.1M, 178% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$16.2M. Non-cash charges added back $2.6M of depreciation and $5.9M of share-based compensation. Working capital and other items used $57.8M. Capital expenditures of $4.4M exceeded it, leaving free cash flow of −$20.6M.
Questions
What was Rigetti Computing's revenue in the first quarter 2026?
Rigetti Computing (RGTI) reported revenue of $4.4M for the first quarter 2026 (Q1 2026), +199% from a year earlier and +136% from the quarter before.
Was Rigetti Computing profitable in the first quarter 2026?
Operating loss was $26.0M (-589.8% of revenue) and net earnings $33.1M.
Source: Rigetti Computing 10-Q on SEC EDGAR.