Rigetti (RGTI) Stock Rebounds: Earnings, Backlog, and Commercial Progress

Rigetti Computing (RGTI) has swung sharply in recent sessions. The shares hit a 52-week low of $9.19 on November 5 before rallying alongside the quantum computing sector after IonQ’s earnings. RGTI gained 19.3% on November 6 and another 10.47% on November 9, closing at $12.98. The two-session rebound from the low was about 41%, while investors continued to wait for Rigetti’s own results.

Rigetti is expected to report third-quarter 2026 results after the close on November 10. Analysts estimate revenue of about $3.3 million to $3.52 million, up roughly 69% year over year, and a loss of about $0.05 per share. On the business front, the Cepheus-1-108Q system has made progress in financial forecasting tests, and an $8.4 million order for a 108-qubit system is expected to contribute revenue in the fourth quarter. The company is also advancing a $100 million research award arrangement, though continued order growth remains important.

The earnings report will need to address backlog and financial sustainability. Rigetti’s remaining performance obligations previously declined from $5.6 million in September of the prior year to $2.7 million by midyear, while research and development expenses remain high. B. Riley lowered its price target from $25 to $23 on November 9 but maintained a Buy rating. Analyst targets are estimates and do not guarantee share-price performance. Investors may watch revenue, backlog, cash use, and forward guidance. This article is for informational purposes only and is not investment advice.