Equity Profile

RGTI

Rigetti Computing, Inc.

Information TechnologySemiconductors$5.1B

Aug12Wed

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Rigetti Computing, Inc. is a technology company focused on quantum computing, which is a cutting-edge area within the semiconductor industry....

Key Metrics to Watch

Revenue Growth

This metric will help investors gauge the company's ability to expand its market presence and increase sales.

N/A

EPS (Earnings Per Share)

EPS is a key indicator of profitability and will show how well the company is managing its expenses relative to its revenue.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

RGTI Q2-2026 Earnings Preview

Context

Company Snapshot

Rigetti Computing, Inc. is a technology company focused on quantum computing, which is a cutting-edge area within the semiconductor industry. With a market cap of $5 billion, Rigetti is positioned to play a significant role in the growing demand for advanced computing solutions, particularly in sectors like artificial intelligence and data processing.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

-51.50%

Avg Stock Reaction

+3.80%

Last Quarter Recap

In the last quarter (Q1-2026), Rigetti reported an EPS of -$0.04, which was better than the expected -$0.05, resulting in a positive surprise of nearly 15%. The stock reacted positively, gaining over 8% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall expectations for Rigetti's upcoming earnings report are mixed, with no analyst estimates available. Investors are keen to see if the company can continue its trend of beating EPS expectations.

Bull Case

The optimistic view hinges on Rigetti demonstrating strong revenue growth and improved gross margins, suggesting that the company is gaining traction in the competitive quantum computing market.

Bear Case

The pessimistic outlook is based on concerns that Rigetti may struggle to achieve profitability and that revenue growth could be slower than anticipated, which may lead to negative market reactions.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected revenue growth rate for the upcoming quarter?

This will be crucial in assessing whether Rigetti is successfully expanding its market share and meeting investor expectations.

How does Rigetti plan to improve its gross margin moving forward?

Improving gross margins can indicate better cost management and operational efficiency, which are key for long-term profitability.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Rigetti's potential for revenue growth due to its unique position in the quantum computing space, which could lead to higher demand than currently anticipated.

Supporting Evidence

The company has consistently beaten EPS estimates in the past, indicating stronger performance than expected.

Options pricing suggests a significant move, reflecting uncertainty that could lead to a surprise in either direction.

Key Risk

If revenue growth exceeds expectations, it could shift the narrative around Rigetti's market position dramatically.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around Rigetti's ability to scale its operations and improve profitability in a competitive environment.

Bull Confirmed If

Achieving revenue growth of over 20% quarter-over-quarter would confirm the bull case.

Bear Confirmed If

If the EPS comes in worse than -$0.05, it would support the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±32.34%

Historical Avg

±4.8%

Pricing rich

The options market is pricing in a significant move of over 32%, indicating that traders expect volatility around the earnings announcement.

Options are pricing ±32.3% while RGTI has averaged ±4.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

1.1%

30d HV

128.0%

Calls (8.1M)P/C Ratio: 0.37Puts (2.0M)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Semiconductors

n=30

Fade rate: 4 of 9 (44%)

This setup has occurred 30 times across Information Technology in the last 2 years. 4 of 9 faded and 5 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 4.4%, with a raw directional average of -0.5% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Rigetti beats expectations, history suggests a potential stock increase of around 4.16%, confirming the company's growth trajectory.

In-Line / Cautious

If results are in line with expectations, the stock may react moderately, reflecting cautious optimism among investors.

Miss

Should the company miss expectations, history suggests a potential decline of about 2.72%, raising concerns about its growth strategy.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on partnerships or contracts that could drive revenue growth.
2Insights into the competitive landscape and how Rigetti plans to differentiate itself.
3Details on R&D investments and their expected impact on future products.
4Management's outlook on the semiconductor market and its implications for Rigetti.
5Any commentary on operational efficiencies and cost management strategies.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Rigetti Computing, Inc. is a technology company focused on quantum computing, which is a cutting-edge area within the semiconductor industry....

Key Metrics to Watch

Revenue Growth

This metric will help investors gauge the company's ability to expand its market presence and increase sales.

N/A

EPS (Earnings Per Share)

EPS is a key indicator of profitability and will show how well the company is managing its expenses relative to its revenue.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

RGTI Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

-51.50%

Avg Stock Reaction

+3.80%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

The optimistic view hinges on Rigetti demonstrating strong revenue growth and improved gross margins, suggesting that the company is gaining traction in the competitive quantum computing market.

Bear Case

The pessimistic outlook is based on concerns that Rigetti may struggle to achieve profitability and that revenue growth could be slower than anticipated, which may lead to negative market reactions.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected revenue growth rate for the upcoming quarter?

This will be crucial in assessing whether Rigetti is successfully expanding its market share and meeting investor expectations.

How does Rigetti plan to improve its gross margin moving forward?

Improving gross margins can indicate better cost management and operational efficiency, which are key for long-term profitability.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Rigetti's potential for revenue growth due to its unique position in the quantum computing space, which could lead to higher demand than currently anticipated.

Supporting Evidence

The company has consistently beaten EPS estimates in the past, indicating stronger performance than expected.

Options pricing suggests a significant move, reflecting uncertainty that could lead to a surprise in either direction.

Key Risk

If revenue growth exceeds expectations, it could shift the narrative around Rigetti's market position dramatically.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around Rigetti's ability to scale its operations and improve profitability in a competitive environment.

Bull Confirmed If

Achieving revenue growth of over 20% quarter-over-quarter would confirm the bull case.

Bear Confirmed If

If the EPS comes in worse than -$0.05, it would support the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±32.34%

Historical Avg

±4.8%

Pricing rich

The options market is pricing in a significant move of over 32%, indicating that traders expect volatility around the earnings announcement.

Options are pricing ±32.3% while RGTI has averaged ±4.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

1.1%

30d HV

128.0%

Calls (8.1M)P/C Ratio: 0.37Puts (2.0M)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Semiconductors

n=30

Fade rate: 4 of 9 (44%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Rigetti beats expectations, history suggests a potential stock increase of around 4.16%, confirming the company's growth trajectory.

In-Line / Cautious

If results are in line with expectations, the stock may react moderately, reflecting cautious optimism among investors.

Miss

Should the company miss expectations, history suggests a potential decline of about 2.72%, raising concerns about its growth strategy.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on partnerships or contracts that could drive revenue growth.
2Insights into the competitive landscape and how Rigetti plans to differentiate itself.
3Details on R&D investments and their expected impact on future products.
4Management's outlook on the semiconductor market and its implications for Rigetti.
5Any commentary on operational efficiencies and cost management strategies.