---
title: "Rigetti Computing sinks as Needham sees customer traction 'increasing' after Q1 results"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286132672.md"
description: "Rigetti Computing (RGTI) shares dropped 8.5% following Q1 results, despite Needham's view that customer traction is increasing. The company recognized less than half of the ~$5.7MM in orders for its 9-qubit Novera QPU systems, with expectations to recognize the rest in 2Q26. Rigetti shipped a Novera QPU to the University of Saskatchewan and anticipates revenue from a sale to a Japan-based organization in 2Q26. The company is on track to deliver its Cepheus-1-108Q to C-DAC in India by 4Q26. Needham maintains a Buy rating and a $31 price target on the stock."
datetime: "2026-05-12T16:31:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286132672.md)
  - [en](https://longbridge.com/en/news/286132672.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286132672.md)
---

# Rigetti Computing sinks as Needham sees customer traction 'increasing' after Q1 results

Rigetti Computing (RGTI) shares fell 8.5% on Tuesday after the company reported first-quarter results that left investment firm Needham with the belief that customer traction is “increasing.” “As expected, the company recognized slightly less than half of the ~$5.7MM in orders it received for the two previously announced 9-qubit Novera QPU system s...

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