Rigetti Revenue Jumps 185% as Quantum-System Orders Accelerate
Rigetti Computing reported second-quarter revenue of about $5.14 million, up roughly 185% year over year, as physical quantum-system sales and customer deployments increased.
Why it matters: Rigetti’s revenue growth provides a concrete commercialization signal for quantum computing and strengthens the evidence that the sector is moving toward real customer deployments.
Rigetti Computing reported sharply higher quarterly revenue as sales of physical quantum-computing systems increased, providing another sign that the commercial quantum market is beginning to move beyond research access sold primarily through the cloud. Second-quarter revenue reached approximately $5.14 million, up from $1.8 million a year earlier. The increase was driven in part by large system deliveries, including an order for India’s Centre for Development of Advanced Computing, as well as growing sales of Rigetti’s on-premises Novera quantum processors. Rigetti is also expanding a collaboration with Hewlett Packard Enterprise and the Pittsburgh Supercomputing Center on an NSF-backed hybrid quantum-classical computing testbed. Separately, the company has signed a letter of intent with the U.S. Department of Commerce for a potential award of up to $100 million to accelerate research involving superconducting quantum computers. The company remains loss-making, but rising system revenue is an important metric for a sector where valuations have often moved faster than commercial sales.