IonQ Posts $80.1 Million Q2 Revenue as Rigetti Reaches $5.1 Million
Updated
Updated · Yahoo Finance · Oct 29
IonQ Posts $80.1 Million Q2 Revenue as Rigetti Reaches $5.1 Million
3 articles · Updated · Yahoo Finance · Oct 29
Summary
IonQ generated $80.1 million in Q2 2026 revenue, up 287% year over year and 20% above its own target, underscoring a wide commercial lead over Rigetti.
Rigetti reported $5.1 million in revenue, up 185%, driven mainly by on-premises Novera quantum processing unit sales, while gross margin improved to 43% from 31%.
The two companies are pursuing different technology paths: Rigetti is advancing its 108-qubit Cepheus-1 superconducting system toward roughly 1,000 qubits in three years, while IonQ is shifting toward semiconductor-based systems with electronic qubit control.
IonQ also raised its full-year revenue outlook to $280 million-$290 million and disclosed $485 million in remaining performance obligations, signaling broader platform demand.
Rigetti ended the quarter with $541.3 million in cash and no debt, and said a letter of intent with the U.S. Commerce Department could unlock up to $100 million in CHIPS Act funding.