Rigetti’s Path to $50 Million Revenue Runs Through Federal Funding

Quantum computing company Rigetti Computing (NASDAQ:RGTI) is betting on rapid commercial expansion, with observers projecting the company could clear $50 million in annual revenue ahead of 2029. That would require roughly a sevenfold increase from the $7.1 million the company reported for its full 2025 fiscal year.

The early signs point to acceleration. First-half revenue through June totaled $9.5 million, a 191% jump from the same period a year earlier — already exceeding everything Rigetti booked in the prior year. Shares closed at $15.20 on Tuesday, down 0.14%.

A $100 Million Government Boost

A key catalyst arrived this week: Rigetti announced a definitive agreement with the U.S. Department of Commerce for an award of up to $100 million in research and development funding. The infusion could meaningfully support the Berkeley, California-based company’s work on superconducting quantum processors and quantum computing systems, technology it develops and operates across the United States, United Kingdom, Europe, and Asia.

Federal backing is increasingly central to the quantum sector’s growth narrative, as governments view quantum computing as strategic infrastructure alongside AI and semiconductors. For a company still operating at a fraction of commercial scale, public R&D dollars can extend runway while the private market for quantum services matures.

Losses Loom Large

The challenge is profitability. Rigetti’s operating losses are growing alongside revenue and remain several times larger than the top line — a dynamic common among quantum hardware developers, where building and maintaining cryogenic systems requires heavy capital and engineering spend before customer revenue scales.

Rigetti sits within a competitive quantum and high-performance computing landscape that includes peers such as Quantum Corporation (NASDAQ:QMCO), which closed at $24.24, off 1.13%, and carries a market capitalization of roughly $955 million. Rigetti’s market cap stood at about $5.2 billion.

Whether the $50 million milestone arrives on schedule will depend on converting government programs and early enterprise contracts into recurring commercial revenue at a pace few quantum companies have achieved.

What to watch

• Quarterly earnings reports for continued year-over-year revenue growth and updates on operating loss trends
• Milestones under the Commerce Department award, including funding tranches and R&D deliverables
• New customer or contract announcements tied to Rigetti’s superconducting QPU roadmap
• Broader federal quantum policy developments affecting sector-wide funding

Source: original release