Rigetti Computing vs. IonQ: Diverging Trends in Quarterly Revenue
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By John Ballard – Apr 14, 2026 at 1:39PM ESTKey PointsRigetti Computing and IonQ display contrasting trajectories, with the latter currently demonstrating a higher upward trend in total revenue.IonQ experienced substantial revenue growth over the last two years, while Rigetti Computing saw its revenue decline.Investors should watch whether the two companies see their revenue gap continue to widen or begin to narrow in upcoming quarters.Rigetti Computing (RGTI +9.68%) stock has risen 81% over the past year at the time of writing, significantly outperforming IonQ (IONQ +15.87%), whose shares are up 31%. This is despite IonQ scaling much faster over the past two years, generating substantially higher revenue.However, Rigetti’s recent launch of its new, more capable quantum computing system could be a catalyst for accelerating growth and narrowing the gap with IonQ over the next few years.Rigetti Computing: Struggling to Grow RevenueRigetti primarily builds quantum computers and the superconducting quantum processors that power them, integrating these machines into various public, private, or hybrid clouds through its centralized services.Despite launching its largest quantum system and selling a new processing unit to the University of Saskatchewan, it recorded an operating loss of $22.6 million for the quarter ended Dec. 31, 2025.ExpandNASDAQ: RGTIRigetti ComputingToday's Change(9.68%) $1.47Current Price$16.59Key Data PointsMarket Cap$5.0BDay's Range$15.72 - $17.3952wk Range$7.81 - $58.15Volume1.4MAvg Vol28MGross Margin-8613.15%IonQ: Accelerating Revenue TrajectoryIonQ develops general-purpose quantum computing systems and generates revenue by selling access to these machines through several major commercial cloud providers and its own dedicated service.It expanded operations by acquiring SkyWater Technology, a pure-play semiconductor foundry, and reported an operating loss of $228 million for the quarter ended Dec. 31, 2025.ExpandNYSE: IONQIonQToday's Change(15.87%) $4.72Current Price$34.48Key Data PointsMarket Cap$11BDay's Range$31.06 - $35.8852wk Range$23.48 - $84.64Volume50MAvg Vol21MGross Margin-2267.11%Why Revenue Matters for InvestorsRevenue is an important measure of how much cash a business collects from selling goods and services. Growth in revenue, or lack thereof, reflects a company's ability to attract customers, deliver its services, and expand its core business operations over time. Image source: The Motley Fool. Quarterly Revenue for Rigetti Computing and IonQQuarter (Period End)Rigetti Computing RevenueIonQ RevenueQ1 2024 (March 2024)$3.1 million$7.6 millionQ2 2024 (June 2024)$3.1 million$11.4 millionQ3 2024 (Sept. 2024)$2.4 million$12.4 millionQ4 2024 (Dec. 2024)$2.3 million$11.7 millionQ1 2025 (March 2025)$1.5 million$7.6 millionQ2 2025 (June 2025)$1.8 million$20.7 millionQ3 2025 (Sept. 2025)$1.9 million$39.9 millionQ4 2025 (Dec. 2025)$1.9 million$61.9 millionData source: Company filings. Data as of April 14, 2026.Foolish TakeQuantum computing is still an early-stage technology, making it unclear who will lead this burgeoning industry. So far, IonQ looks like the early leader. It is generating significantly more revenue and growth than Rigetti. This shows solid progress in expanding the marketability of IonQ’s quantum computing platform. IonQ has benefited from being an early mover in the quantum industry, having been working on this technology for over 30 years. Rigetti is further behind IonQ in commercial scaling, which is why it is generating less than $2 million in quarterly revenue. Obviously, this doesn’t tell us much about which company might grow faster in the future. Analysts expect Rigetti to scale rapidly over the next few years, reaching $110 million in revenue in 2028. This would represent a much higher percentage increase than IonQ, where analysts expect its annual revenue to reach $599 million in two years.Investors will want to watch Rigetti’s revenue growth in the coming quarters to see whether its new 108-qubit system can drive higher revenue. IonQ has also experienced tremendous customer demand for its 100-qubit Tempo system, driving a 429% year-over-year increase in fourth-quarter revenue. IonQ stock has been the better performer over the last five years, but Rigetti shares have outperformed IonQ over the past one-year period. Closing the revenue gap with its larger rival will be vital to sustaining shareholder returns going forward.Read NextApr 13, 2026 •By David Jagielski, CPADown More Than 30% This Year, Has Rigetti Computing Stock Bottomed Out?Apr 13, 2026 •By Anthony Di PizioPrediction: This Will Be Rigetti Computing's Stock Price in 1 YearApr 12, 2026 •By Keithen DruryIs Rigetti Computing's New 2-Qubit Gate Fidelity Record a Reason to Buy the Stock?Apr 4, 2026 •By Keithen DruryIs Rigetti Computing the Best Quantum Computing Stock to Buy Right Now?Mar 26, 2026 •By Anthony Di PizioIs This Popular Quantum Computing Stock Heading for an 80% Crash?Mar 24, 2026 •By David Jagielski, CPAShould You Buy Rigetti Computing Stock While It's Below $20?About the AuthorJohn Ballard has been a contributing writer at The Motley Fool since 2016, covering consumer goods and technology stocks. He holds a bachelor’s degree in business administration with a focus in real estate finance from the University of Arkansas at Little Rock.TMFRazorbackStocks MentionedRigetti ComputingNASDAQ: RGTI$16.38(+8.26%)+$1.25IonQNYSE: IONQ$34.47(+15.83%)+$4.71*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.