Rigetti (RGTI) Q3 revenue falls 28% as $20 million forecast hinges on India system acceptance

Key points Rigetti's third-quarter revenue fell 28% to $1.4 million Rigetti needs about $9 million in Q4 to reach its forecast Rigetti's small net loss came from a warrant gain Rigetti Computing (RGTI) reported third-quarter revenue of $1.4 million on Tuesday, down 28% from $1.9 million a year earlier and well below the $3.7 million analysts expected, according to Investing.com. The company still expects about $20 million of revenue for 2026, but that forecast assumes a customer in India formally accepts a Rigetti system in the fourth quarter. Rigetti shares closed at $12.15 on Tuesday, down 6.4%, before the report. They were at $11.58 in after-hours trading as of 9:32 p.m. ET, down another 4.7%. The forecast leaves about $9 million for the fourth quarter Revenue for the first nine months was $10.9 million, up from $5.2 million a year earlier, according to Rigetti's earnings release.

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