Slide 1: Q1 2026 Results Presentation
Q1 2026 Results Presentation May 11, 2026 1
Slide 2: Cautionary Notes
Cautionary Notes Forward Looking Statements: Certain statements in this presentation may be considered forward-looking statements, including statements with respect to the Company’s outlook and expectations, including expectations with respect to the Company’s focus remaining on continued fidelity im
Slide 3: Rigetti's Mission
Rigetti’s Mission: Build the world’s most powerful computers to help solve humanity’s most important and pressing problems Copyright 2026 Rigetti Computing 3
Slide 4: Three Milestones Defined the Quarter
Three Milestones Defined the Quarter 108Q reached general availability, extending access to Rigetti’s 1 highest-qubit-count system across Rigetti QCS, Amazon Braket, Microsoft Azure Quantum, and qBraid. Customer adoption broadened across cloud and on-premises 2 channels, with Novera QPU sales and sys
Slide 5: 108Q General Availability Marked a Major Product Step
108Q General Availability Marked a Major Product Step Highest-qubit-count system in the portfolio to date Largest modular quantum computing system on market today Built from 12 interconnected 9-qubit chiplets Production launch validated the chiplet-based scaling architecture Copyright 2026 Rigetti C
Slide 6: Scale Increased While Performance Continued to Advance
Scale Increased While Performance Continued to Advance ~60 3x ~99.1% 99.9% nanoseconds Qubits & chiplets Median Gate Median versus the two-qubit speeds single-qubit prior system gate fidelity gate fidelity Focus remains on continued fidelity improvement throughout 2026 Copyright 2026 Rigetti Computing
Slide 7: Broader Access Expanded User Reach and Ecosystem Relevance
Broader Access Expanded User Reach and Ecosystem Relevance ● Cepheus-1-108Q now available through Rigetti Quantum Cloud Services, Amazon Braket, Microsoft Azure Quantum, and qBraid ● Users can access the system on platforms already used for classical and quantum R&D ● First gate-based device on Amaz
Slide 8: Customer Adoption Continues to Build Across Channels
Customer Adoption Continues to Build Across Channels Cloud interest continues to build among researchers and enterprise users On-premises Novera QPUs expanded the installed base across research and education customers Recent University of Saskatchewan win supports quantum research and education use
Slide 9: Roadmap Remains Focused on Higher Fidelity at Larger Scale
Roadmap Remains Focused on Higher Fidelity at Larger Scale Near-term: Longer-term: Drive Cepheus-1-108Q to ~99.5% Scaling chiplet architecture to median two-qubit gate fidelity later >1,000 qubits this year Error-correction-ready Planned UK investment capabilities continue to be supports the next pha
Slide 10: Rigetti's Definition of Quantum Advantage
Rigetti’s Definition of Quantum Advantage Quantum advantage = outperforming classical systems on practical workloads ~ 3 Years to Achieve: 1,000+ qubits with <50 Integrated error ~99.9% two-qubit nanoseconds mitigation gate fidelity gate speeds Copyright 2026 Rigetti Computing 10
Slide 11: Capital Strength Supports Disciplined Execution
Capital Strength Supports Disciplined Execution ● $569M cash, cash equivalents, and investments at quarter end with zero debt outstanding ● R&D spend focused on fidelity, scale, and error correction and core platform development ● CapEx to support Fab-1 and additional dilution refrigeration capacity
Slide 12: Q1 2026 Results Reflect Operating Progress and Contract Mix
Q1 2026 Results Reflect Operating Progress and Contract Mix Revenue $4.4M Reflecting Novera/system deliveries GAAP Net Income $33.1M Compared with $42.6M in Q1 2025 Compared with $(15.3M) Non-GAAP Non-GAAP Net Loss $(14.7)M Net Loss in Q1 2025 Gross Margin 31% Impacted by contract mix Provides runway
Slide 13: Quarter Reinforced Path to Quantum Advantage
Quarter Reinforced Path to Quantum Advantage ✔ 108Q general availability marked an important product and scaling milestone ✔ Customer adoption continued to broaden across cloud and on-premises channels Fidelity improvement, platform scaling, and error-correction readiness remain core roadmap ✔ prior
Slide 14: Appendix
Appendix Copyright 2026 Rigetti Computing Copyright 2026 Rigetti Computing 14
Slide 15: Consolidated Balance Sheet
Consolidated Balance Sheet (in thousands, except number of shares and par value) (unaudited) Copyright 2026 Rigetti Computing 15 Copyright 2026 Rigetti Computing
Slide 16: Consolidated Statements of Operations
Consolidated Statements of Operations (in thousands, except per share date) (unaudited) Copyright 2026 Rigetti Computing Copyright 2026 Rigetti Computing 16
Slide 17: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows (in thousands) (unaudited) Copyright 2026 Rigetti Computing 17 Copyright 2026 Rigetti Computing
Slide 18: Reconciliation of Net Income to Non-GAAP Net Loss
Reconciliation of Net Income to Non-GAAP Net Loss and Calculation of Non-GAAP Net Loss per share attributable to common stockholders – basic and diluted (in thousands, except per share data) (unaudited) Copyright 2026 Rigetti Computing 18