(Bloomberg) -- Quantum computing firms including Rigetti Computing and D-Wave Quantum are set to report first-quarter earnings this week, with technical milestones expected to overshadow financial results as the industry continues to invest in innovation over immediate profitability.
“For pure-play quantum computing companies, the real value lies in technical milestones and physical expansion—key indicators of progress in an otherwise unprofitable sector,” said Mackenzie Tatananni, a technology reporter at Barron's.
Rigetti Computing, which reports on May 11, is projected to post a loss per share of 5 cents on revenue of $3.25 million, according to Zacks Consensus Estimate. The company’s performance will likely reflect momentum from its new 108-qubit system and initial sales of its Novera on-premises systems. D-Wave is expanding into gate-based systems, with a goal of generating quantum computing-as-a-service revenue by 2026, which would double its addressable market.
The earnings reports come as Honeywell-owned Quantinuum has filed registration documents for a U.S. initial public offering, a move that could provide a new valuation benchmark for the sector. While pure-play quantum stocks like IonQ have gained 17.1% this year, Rigetti and D-Wave have fallen 9.3% and 8.9%, respectively, suggesting investors are becoming more selective.
The upcoming reports will test investor appetite for companies that are still years from significant commercial revenue. The focus remains on which firms can demonstrate the clearest progress toward building fault-tolerant quantum machines, a long-term goal that promises to unlock significant computational power.
This article is for informational purposes only and does not constitute investment advice.
