Rigetti Computing (RGTI) Q3 FY2026 earnings: revenue $1 million, down 27.5% on the year

Rigetti Computing, Inc. (RGTI) reported revenue of $1 million for Q3 FY2026, the quarter ended 30 September 2026, down 27.5% on the same quarter a year earlier. Net income was -$3 million, and diluted earnings per share $-0.08. The figures are the company's own, from the 10-Q it filed with the SEC on 10 November 2026.

Revenue

$1 million

-27.5% on the year · -72.5% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

-2351.9%

-1055.4% a year earlier

Q4 FY2024Q3 FY2026

Net income

-$3 million

Q4 FY2024Q3 FY2026

Diluted EPS

-$0.08

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 new, 1 kept.

Nine-month revenue rose about 110%: Revenue for the nine months reached $10.9 million, compared with $5.2 million for the first nine months of 2025.
108-qubit system reached 99.5% fidelity: Cepheus-1-108Q reached 99.5% median two-qubit gate fidelity, up from about 99.1% in August. Management said this met the performance milestone. The system uses twelve 9-qubit chiplets.
Next system: 300-plus qubits by 2028: The next target system is expected to have a larger qubit count per chiplet, faster readout and expanded cryogenic capacity, with a target date of mid-2028.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	1.4	5.1	1.9	-72.5%	-27.5%
Cost of revenue	0.6	3.0	1.5	-81.2%	-64.1%
Gross profit	0.9	2.2	0.4	-60.8%	+112.1%
Gross margin	60.7%	42.6%	20.7%
Research and development	25.5	20.7	15.0	+23.0%	+69.7%
Selling, general and administrative	8.5	9.5	5.9	-10.2%	+44.1%
Operating income	-33.2	-28.1	-20.5
Operating margin	-2351.9%	-546.2%	-1055.4%
Pre-tax income	-3.1	-52.6	-201
Net income	-3.1	-52.6	-201
Net margin	-222.3%	-1023.9%	-10321.9%
Diluted EPS	-$0.08	-$0.16	-$0.62

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	-17.1	-15.8	-13.8
Capital expenditure	26.2	12.0	5.9	+118.4%	+344.8%
Free cash flow	-43.3	-27.8	-19.7
Free cash flow margin	-3066.1%	-540.5%	-1012.4%
Cash from investing	35.1	-4.8	-20.0
Cash from financing	-0.3	0.4	2.8
Share-based compensation	8.0	7.0	4.3	+13.4%	+85.2%
Diluted shares, weighted	339m	333m	325m	+1.7%	+4.3%
Shares outstanding at period end	343m	334m	325m	+2.7%	+5.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	542	537	372	+0.8%	+45.8%
Debt	n/a	n/a	0.0
Operating lease liabilities	4.5	5.0	5.4	-11.5%	-17.0%
Other liabilities	77.5	106	253	-26.7%	-69.4%
Total liabilities and equity	624	648	630	-3.7%	-1.0%
Fixed assets	87.5	75.3	54.1	+16.2%	+61.8%
Investments	n/a	n/a	533
Cash and equivalents	45.8	27.8	26.1	+65.0%	+75.3%
Receivables	3.9	3.9	2.3	+0.7%	+70.9%
Other assets	487	541	15.0	-10.1%	+3,146.5%
Total assets	624	648	630	-3.7%	-1.0%

Questions

What was Rigetti Computing's revenue in Q3 FY2026?

Rigetti Computing (RGTI) reported revenue of $1 million for Q3 FY2026, the quarter ended 30 September 2026, down 27.5% on the same quarter a year earlier.

How much did Rigetti Computing earn in Q3 FY2026?

Net loss for Q3 FY2026 was $3 million, and the diluted loss per share $0.08.

When did Rigetti Computing report Q3 FY2026 results?

Rigetti Computing filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 10 November 2026.

Quarterly results, the last 20 quarters

	Q3 FY2021	Q1 FY2022 †	Q2 FY2022 †	Q3 FY2022	Q4 FY2022 * †	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	2.9	2.1	2.1	2.8	6.1	2.2	3.3	3.1	3.4	3.1	3.1	2.4	2.3	1.5	1.8	1.9	1.9	4.4	5.1	1.4
Cost of revenue	0.4	0.4	0.9	0.8	0.8	0.5	0.6	0.8	0.9	1.6	1.1	1.2	1.3	1.0	1.2	1.5	1.2	3.0	3.0	0.6
Gross profit	2.5	1.7	1.3	2.0	5.2	1.7	2.7	2.3	2.5	1.5	2.0	1.2	1.0	0.4	0.6	0.4	0.7	1.4	2.2	0.9
Gross margin	85%	80%	59%	72%	87%	77%	82%	73%	75%	49%	64%	51%	44%	30%	31%	21%	35%	31%	43%	61%
R&D	7.5	13.9	12.7	17.4	15.9	13.7	13.2	13.1	12.8	11.5	11.9	12.8	13.7	15.5	13.5	15.0	17.3	20.0	20.7	25.5
SG&A	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	5.8	n/a	6.6	6.9	5.9	n/a	7.4	9.5	8.5
Operating income	-9.2	-25.3	-25.8	-31.3	-26.7	-22.0	-16.2	-16.8	-17.2	-16.6	-16.1	-17.3	-18.5	-21.6	-19.9	-20.5	-22.6	-26.0	-28.1	-33.2
Operating margin	-314%	-1201%	-1207%	-1117%	-441%	-1000%	-488%	-542%	-510%	-543%	-521%	-729%	-813%	-1470%	-1104%	-1055%	-1210%	-590%	-546%	-2352%
Interest expense	0.6	1.2	1.0	1.4	1.6	1.5	1.6	1.5	1.3	1.1	1.0	0.7	0.4	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	-9.8	-17.6	-12.3	-18.8	-22.9	-23.4	-17.0	-22.2	-12.6	-20.8	-12.4	-14.8	-153	42.6	-39.7	-201	-18.2	33.1	-52.6	-3.1
Tax rate	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0%	n/a	n/a	n/a	n/a	n/a	n/a
Net income	-9.8	-17.6	-12.3	-18.8	-32.3	-23.4	-17.0	-22.2	-12.6	-20.8	-12.4	-14.8	-153	42.6	-39.7	-201	-18.2	33.1	-52.6	-3.1
Net margin	-334%	-838%	-574%	-669%	-377%	-1061%	-510%	-715%	-373%	-681%	-402%	-624%	-6727%	2895%	-2202%	-10322%	-975%	752%	-1024%	-222%
Diluted EPS	-$0.43	-$0.33	-$0.11	-$0.16	-$0.19	-$0.19	-$0.13	-$0.17	-$0.09	-$0.14	-$0.07	-$0.08	-$0.68	$0.13	-$0.13	-$0.62	-$0.06	-$0.06	-$0.16	-$0.08
Operating cash flow	-8.4	-15.7	-19.4	-13.4	-14.2	-15.5	-18.1	-4.5	-12.4	-13.1	-13.5	-15.4	-8.5	-13.7	-16.2	-13.8	-14.9	-16.2	-15.8	-17.1
Capital expenditure	2.0	2.8	7.8	8.7	3.4	4.8	0.9	1.8	1.5	5.5	2.0	2.3	1.3	2.5	5.7	5.9	4.6	4.4	12.0	26.2
Free cash flow	-10.5	-18.6	-27.2	-22.1	-17.6	-20.4	-19.0	-6.3	-14.0	-18.6	-15.6	-17.7	-9.8	-16.2	-21.8	-19.7	-19.5	-20.6	-27.8	-43.3
Shares outstanding	123m	18m	117m	123m	125m	129m	132m	140m	147m	165m	180m	192m	284m	287m	324m	325m	331m	332m	334m	343m
Filing	10-Q	10-Q/A	10-Q/A	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 10 November 2026: the filing.