Rigetti Computing is upgraded to Buy as catalysts like DARPA's QBI program and Rigetti's advancements boost its growth prospects. Rigetti's progress toward a 100-qubit, >99.5% fidelity system positions it for lucrative DARPA Stage B grants, potentially improving revenue. Valuation remains attractive, with potential for a 33% upside if book value multiples expand to historical averages, targeting ~$25 per share.
D-Wave's Advantage2 system delivers 4,400+ qubits, 20-way connectivity, a 40% higher energy scale, and double coherence time. Over 20.6 million problems solved on Advantage2 via Leap cloud by mid-2025, up 134% in six months. Customer adoption includes Ford, GE Vernova, Nikon, Sharp, and Oxford, with more than 100 revenue-generating clients in four quarters.
QMCO's wider Q1 loss, weaker revenues and higher costs weigh on results, but cost cuts and new growth plans aim to drive a turnaround.
Quantum Corporation (NASDAQ:QMCO ) Q1 2026 Earnings Call September 10, 2025 5:00 PM EDT Company Participants Tara Ilges - VP of Corporate Affairs & Corporate Secretary Hugues Meyrath - President, CEO & Director Laura Nash - CFO & Chief Accounting Officer Conference Call Participants Eric Martinuzzi - Lake Street Capital Markets, LLC, Research Division Nehal Chokshi - Northland Capital Markets, Research Division Presentation Operator Good afternoon, and welcome to Quantum Corporation's Fiscal First Quarter 2026 Financial Results Conference Call. [Operator Instructions].
Quantum computing has emerged as a strong investment theme over the past year. with the trend fully expected to continue as we wade further into the digital era.
The quantum computing revolution is upon us, and whether you're a proponent of this sector's long-term success, or you're skeptical of the ultimate impact this space will have on the overall tech landscape, it's clear that the returns many of the top quantum computing stocks have provided in recent months has changed the game for many investors.
D-Wave stands out with its quantum annealing technology, strong cash reserves, and growing ecosystem, positioning it as a potential leader in quantum computing. Despite explosive stock gains and industry excitement, QBTS remains unprofitable with high cash burn and faces significant execution, adoption, and competitive risks. Upcoming catalysts include new Advantage2 deployments, strategic partnerships, tech milestones, and deeper AI/software integration, all crucial for validating future growth.
SkyWater is transitioning from a traditional foundry to a high-margin, strategic partner in advanced tech, especially for U.S. government and quantum computing. The Advanced Technology Services segment now drives growth, profitability, and cash flow, supported by strong financials and the Fab 25 acquisition. SkyWater benefits from secular U.S. reshoring trends, trusted foundry status, and a 'picks & shovels' position in quantum and photonics.
At the moment, just 11 publicly traded companies can claim a market capitalization above $1 trillion.
IonQ, D-Wave, Rigetti and QUBT report steep Q2 losses but strengthen cash positions with major fundraising to fuel quantum growth.
2025 is the year that quantum computing finally matters to portfolio managers.
Quantum computing stock Rigetti Computing Inc (NASDAQ:RGTI) is succumbing to the broader market slump , last seen down 3.3% to trade at $14.26.