Rigetti Computing (Nasdaq: RGTI) reports first-quarter results after the close Monday, with shares up more than 25% over the past month. The stock is riding momentum from the launch of its Ankaa-3 system—an 84-qubit superconducting quantum processor that hit key internal milestones, including a 99.0% median fidelity on iSWAP gates and 99.5% on fSim gates, with gate times under 75 nanoseconds. Those numbers represent a meaningful technical leap for Rigetti and keep it squarely in the top tier of quantum hardware developers alongside better-funded peers like IBM and Google.
But tonight’s call won’t hinge on technical specs alone. Wall Street wants clarity on the status of Rigetti’s strategic partnership with Quanta Computer, a Taiwanese electronics manufacturer that committed to a $35 million PIPE investment and a $250 million co-investment roadmap. That deal is still pending regulatory approval, and any delay could force Rigetti back to the capital markets sooner than expected. As of year-end, Rigetti had $106 million in cash, enough to fund operations for roughly 12 months at its current burn rate.
Consensus estimates call for $4.1 million in Q1 revenue and a loss of $0.13 per share, with revenue still concentrated in government R&D contracts. Any commentary around commercial QPU sales, cloud customer traction, or backlog growth will be closely watched.
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