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Rigetti Computing, Inc. (RGTI) Q1 2026 Earnings Call Transcript

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⚡ Quantum Brief
Rigetti reported Q1 2026 revenue of $4.4M, a 199% year-over-year surge, exceeding estimates by $272K, despite a narrow EPS loss of $0.04. CEO Subodh Kulkarni highlighted accelerated commercial adoption, citing expanded partnerships with defense, finance, and pharma sectors driving demand for its quantum processors. The company emphasized progress in its 84-qubit Aspen-M system, now operational for cloud-based quantum computing, with plans to unveil a 300+ qubit processor by late 2026. CFO Jeffrey Bertelsen noted improved cost controls, reducing cash burn by 30% YoY, while securing $20M in new contracts, including a multi-year DoD research agreement. Analysts pressed on scalability timelines, with Rigetti reaffirming its hybrid quantum-classical roadmap to achieve fault tolerance within three years.
Rigetti Computing, Inc. (RGTI) Q1 2026 Earnings Call Transcript

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SA Transcripts160.01K FollowersFollow5ShareSaveCommentsQ1: 2026-05-11 Earnings SummaryPlay CallPlay CallSlidesPR10-QEPS of -$0.04 beats by $0.00 | Revenue of $4.40M (198.91% Y/Y) beats by $272.45K Rigetti Computing, Inc. (RGTI) Q1 2026 Earnings Call May 11, 2026 5:00 PM EDT Company Participants Subodh Kulkarni - CEO, President & DirectorJeffrey Bertelsen - Chief Financial Officer Conference Call Participants Brian Kinstlinger - Alliance Global Partners, Research DivisionSreekrishnan Sankarnarayanan - TD Cowen, Research DivisionQuinn Bolton - Needham & Company, LLC, Research DivisionCraig Ellis - B. Riley Securities, Inc., Research DivisionVijay Rakesh - Mizuho Securities USA LLC, Research DivisionAntoine Legault - Wedbush Securities Inc., Research DivisionTroy Jensen - Cantor Fitzgerald & Co., Research DivisionJohn McPeake - Rosenblatt Securities Inc., Research Division Presentation Operator Good day, ladies and gentlemen, and thank you for standing by. Welcome to the Rigetti Computing's First Quarter 2026 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded. At this time, I would like to turn the conference over to Mr. Subodh Kulkarni, CEO of Rigetti. Sir, please begin. Subodh KulkarniCEO, President & Director Good afternoon, and thank you for joining us for Rigetti's First Quarter 2026 Earnings Conference Call. I'm pleased to be joined today by our Chief Financial Officer, Jeff Bertelsen, who will walk you through our financial results in more detail following my overview. Also with us is our Chief Technology Officer, David Rivas, who will be available to participate in the Q&A session following our prepared remarks. We appreciate your continued interest in Rigetti, and we look forward to answering your questions at the conclusion of our remarks. Before we begin, I would like to remind everyone that today's call, along with our first quarter 2026 press release, contains forward-looking statements. These statements reflect our current expectations, objectives and underlying assumptions regarding our outlook and future operating results. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual

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Source: Seeking Alpha