<p>美国量子计算领域的三大主要参与者——D-Wave Quantum Inc.（纽约证券交易所代码：QBTS）、Rigetti Computing（纳斯达克代码：RGTI）和 IonQ Inc.（纽约证券交易所代码：IONQ）——在 2026 年 5 月相继公布了第一季度财报。这为投资者提供了一个轻松比较这三家公司在这个快速增长行业中竞争的机会。IonQ 首先公布财报，随后是 Rigetti 和 D-Wave。</p>
<p>希望在这场三方竞赛中找到明确赢家的投资者可能会感到失望，因为每家公司在年初的前三个月都有一些优势，同时也面临一些明显的障碍。三家公司在财报发布后，股价均立即下跌。下面，我们将更详细地看看这些公司在 2026 年中期的表现。</p>
<h2>Rigetti：销售大幅增长，现金充裕，但费用上升</h2>
<p>Rigetti 在 2026 年第一季度财报中最大的亮点之一是其可观的收入增长。该公司报告收入为 440 万美元，几乎是去年同期 150 万美元的三倍。公司的 Novera QPU 系统的销售推动了这一增长。除了同比（YOY）增长外，Rigetti 还强调了预计在第二季度的 Novera 销售和今年第四季度的一项重大系统销售。</p>
<p>尽管收入增长令人印象深刻，但从绝对值来看，Rigetti 的销售仍然非常有限，尤其是对于一家市值超过 60 亿美元的公司而言。然而，这一问题困扰着更广泛的纯量子计算领域。</p>
<p>D-Wave 可能被认为是现金充裕的量子公司，但在本季度，Rigetti 也展示了其资金实力。它在第一季度结束时拥有约 5.69 亿美元的现金及现金等价物，这将使公司能够在英国投资多达 1 亿美元。没有债务也意味着 Rigetti 可能准备进行重大扩张和研发提升。</p>
<p>该公司的股价在财报发布后暴跌，可能与其运营费用的大幅增加有关。第一季度的运营费用为 2730 万美元，远高于销售额，这给 Rigetti 带来了尚未克服的盈利挑战。</p>
<h2>D-Wave：负面头条，但有一些亮点</h2>
<p>在某些方面，D-Wave 在 2026 年第一季度可能处于劣势。这三家公司中唯一一家销售同比下降的公司，D-Wave 的收入暴跌 80%，降至 290 万美元。不过，这可能并不像看起来那么令人担忧，因为去年的销售是由于一笔大型系统销售而大幅提升。</p>
<p>然而，这突显了量子领域迄今为止的多变性，单一的大宗销售可能对未来几年的业绩产生重大影响。</p>
<p>更有希望的是 D-Wave 通过其量子计算即服务（QCaaS）获得的经常性收入，这一收入正在快速增长，可能帮助公司找到盈利的道路。尽管在收购 Quantum Circuits Inc.后，公司的现金储备仍然强劲，季度末约为 5.88 亿美元。管理层并未表示继续收购的意图，而是强调他们相信公司在实现盈利的道路上已经完全获得资金（尽管实现盈利的时间表仍不明确）。</p>
<h2>IonQ：销售增长最大，但亏损令人担忧</h2>
<p>从表面上看，IonQ 的季度报告可能是这三家公司中最好的。同比收入增长 755% 以及对全年指引的显著上调是发布中的两个亮点。该公司第一季度的收入为 6470 万美元，远远超过上述两家竞争对手的数量级。</p>
<p>IonQ 在销售生成能力方面似乎领先几步。管理层现在预计财政年度的收入上限为 2.7 亿美元，IonQ 有望进一步加速销售增长。</p>
<p>然而，盈利能力仍然是一个问题。随着销售大幅增长，调整后的每股亏损也在扩大，从去年的 15 美分增加到 34 美分，增幅超过一倍。运营亏损也在增加。一个亮点是 IonQ 的商业客户业务，现在推动了大部分收入，作为额外的好处，客户越来越倾向于购买多种产品。此外，公司的三分之一销售来自国际客户，因此在这方面可能相较于竞争对手具有优势。尽管如此，尽管取得了这些令人鼓舞的成就，IonQ 仍面临与上述公司相同的一些障碍。</p>
<h2>你现在应该投资 1000 美元在 IonQ 吗？</h2>
<p>在考虑 IonQ 之前，你需要听听这个。</p>
<p>MarketBeat 跟踪华尔街顶级评级和表现最佳的研究分析师，以及他们每天向客户推荐的股票。MarketBeat 已经识别出五只股票，顶级分析师正在悄悄地向客户推荐在更广泛的市场注意到之前购买……而 IonQ 并不在名单上。</p>
<p>虽然 IonQ 目前在分析师中获得了中等买入评级，但顶级分析师认为这五只股票更值得购买。</p>
<p>查看这五只股票的详细信息</p>

QBTS

RGTI

IONQ

RGTX

2 倍做多 IONQ ETF - GraniteShares

2 倍做多 IONQ ETF - Defiance

QBTX

RGTU

QPUX

<p>量子计算行业正在发展，三家领先公司——D-Wave Quantum、Rigetti Computing 和 IonQ——公布了 2026 年第一季度的财报。Rigetti 显示出显著的收入增长，但面临高昂的运营费用。D-Wave 经历了急剧的收入下降，但拥有强大的现金储备和不断增长的经常性收入。IonQ 报告了最高的收入增长，但也增加了亏损。三家公司在财报发布后股价均出现下跌，突显了竞争激烈的量子领域所面临的挑战</p>

<p>The three major players in the U.S. quantum computing space—D-Wave Quantum Inc. NYSE: QBTS, Rigetti Computing NASDAQ: RGTI, and IonQ Inc. NYSE: IONQ—reported first-quarter earnings within days of each other in May 2026. This gives investors a chance to easily compare three firms vying to be the go-to name in this fast-growing industry. IonQ reported first, with Rigetti and D-Wave following.</p>
<div class="lb-trans"><p>美国量子计算领域的三大主要参与者——D-Wave Quantum Inc.（纽约证券交易所代码：QBTS）、Rigetti Computing（纳斯达克代码：RGTI）和 IonQ Inc.（纽约证券交易所代码：IONQ）——在 2026 年 5 月相继公布了第一季度财报。这为投资者提供了一个轻松比较这三家公司在这个快速增长行业中竞争的机会。IonQ 首先公布财报，随后是 Rigetti 和 D-Wave。</p>
</div><p>Investors hoping for a clear winner in this three-way race might be disappointed, as each firm had some strengths and faced some glaring obstacles in the first three months of the year. All three also saw their share prices decline immediately following their earnings releases. Below, we take a closer look at how each of these companies stacks up heading into the midway point of 2026.</p>
<div class="lb-trans"><p>希望在这场三方竞赛中找到明确赢家的投资者可能会感到失望，因为每家公司在年初的前三个月都有一些优势，同时也面临一些明显的障碍。三家公司在财报发布后，股价均立即下跌。下面，我们将更详细地看看这些公司在 2026 年中期的表现。</p>
</div><h2>Rigetti: Big Sales Growth, Lots of Cash, But Mounting Expenses</h2>
<div class="lb-trans"><h2>Rigetti：销售大幅增长，现金充裕，但费用上升</h2>
</div><p>One of the biggest highlights from Rigetti's Q1 2026 earnings was its sizable revenue growth. The firm reported $4.4 million in revenue, nearly triple the $1.5 million that it generated in the prior-year period. Sales of the company's Novera QPU system helped to drive this growth. On top of year-over-year (YOY) gains in Q1, Rigetti also highlighted expected Novera sales in Q2 and a major system sale in Q4 later this year.</p>
<div class="lb-trans"><p>Rigetti 在 2026 年第一季度财报中最大的亮点之一是其可观的收入增长。该公司报告收入为 440 万美元，几乎是去年同期 150 万美元的三倍。公司的 Novera QPU 系统的销售推动了这一增长。除了同比（YOY）增长外，Rigetti 还强调了预计在第二季度的 Novera 销售和今年第四季度的一项重大系统销售。</p>
</div><p>While the revenue growth is impressive, in absolute terms, Rigetti still has very modest sales, especially for a company valued at more than $6 billion. This issue, however, plagues the broader pure-play quantum computing space.</p>
<div class="lb-trans"><p>尽管收入增长令人印象深刻，但从绝对值来看，Rigetti 的销售仍然非常有限，尤其是对于一家市值超过 60 亿美元的公司而言。然而，这一问题困扰着更广泛的纯量子计算领域。</p>
</div><p>D-Wave may be known as the quantum player with lots of excess cash on hand, but this quarter, Rigetti demonstrated that it also has money to spend. It ended Q1 with about $569 million in cash and equivalents, which should allow the company to invest up to $100 million in the United Kingdom. Carrying no debt also means that Rigetti may be poised for significant expansion and R&amp;D boosts.</p>
<div class="lb-trans"><p>D-Wave 可能被认为是现金充裕的量子公司，但在本季度，Rigetti 也展示了其资金实力。它在第一季度结束时拥有约 5.69 亿美元的现金及现金等价物，这将使公司能够在英国投资多达 1 亿美元。没有债务也意味着 Rigetti 可能准备进行重大扩张和研发提升。</p>
</div><p>The company's shares plunged following earnings, perhaps related to its sizable increase in operating expenses. At $27.3 million for the quarter, these are much larger than sales, presenting a profitability challenge that Rigetti has yet to overcome.</p>
<div class="lb-trans"><p>该公司的股价在财报发布后暴跌，可能与其运营费用的大幅增加有关。第一季度的运营费用为 2730 万美元，远高于销售额，这给 Rigetti 带来了尚未克服的盈利挑战。</p>
</div><h2>D-Wave: Negative Headline, But Some Bright Spots Beneath</h2>
<div class="lb-trans"><h2>D-Wave：负面头条，但有一些亮点</h2>
</div><p>D-Wave may come out on the bottom in some ways for Q1 2026. The only one of these three companies to post YOY declines in sales, D-Wave experienced an 80% collapse in revenue to $2.9 million. This may not be as concerning as it appears, though, given that last year's sales were boosted by a single large system sale.</p>
<div class="lb-trans"><p>在某些方面，D-Wave 在 2026 年第一季度可能处于劣势。这三家公司中唯一一家销售同比下降的公司，D-Wave 的收入暴跌 80%，降至 290 万美元。不过，这可能并不像看起来那么令人担忧，因为去年的销售是由于一笔大型系统销售而大幅提升。</p>
</div><p>However, this points to the fickle nature of the quantum space so far, in which single big-ticket sales can have a drastic impact on results for years to come.</p>
<div class="lb-trans"><p>然而，这突显了量子领域迄今为止的多变性，单一的大宗销售可能对未来几年的业绩产生重大影响。</p>
</div><p>More promising is D-Wave's recurring revenue via its quantum-computing-as-a-service (QCaaS), which is growing quickly and could help the company find a path to profitability. The firm's cash holdings remain strong as well, even after its high-profile purchase of Quantum Circuits Inc., with some $588 million at quarter's end. Management did not signal intentions to continue the company's buying spree, choosing instead to emphasize that they believe the company is fully funded in its path to profitability (although the timeline for achieving profitability remains unclear).</p>
<div class="lb-trans"><p>更有希望的是 D-Wave 通过其量子计算即服务（QCaaS）获得的经常性收入，这一收入正在快速增长，可能帮助公司找到盈利的道路。尽管在收购 Quantum Circuits Inc.后，公司的现金储备仍然强劲，季度末约为 5.88 亿美元。管理层并未表示继续收购的意图，而是强调他们相信公司在实现盈利的道路上已经完全获得资金（尽管实现盈利的时间表仍不明确）。</p>
</div><h2>IonQ: Biggest Sales Growth, But Losses Are a Concern</h2>
<div class="lb-trans"><h2>IonQ：销售增长最大，但亏损令人担忧</h2>
</div><p>On the surface, IonQ had perhaps the best quarterly report of all of these firms. 755% YOY revenue improvement and a solid raise to full-year guidance were two standout pieces of information from the release. The company posted $64.7 million in revenue for the quarter, more than an order of magnitude larger than either of the two competitors above.</p>
<div class="lb-trans"><p>从表面上看，IonQ 的季度报告可能是这三家公司中最好的。同比收入增长 755% 以及对全年指引的显著上调是发布中的两个亮点。该公司第一季度的收入为 6470 万美元，远远超过上述两家竞争对手的数量级。</p>
</div><p>IonQ seems to be several steps ahead in terms of its capacity to generate sales. With management now expecting a high end of $270 million in revenue for the fiscal year, IonQ is poised to accelerate sales growth even more.</p>
<div class="lb-trans"><p>IonQ 在销售生成能力方面似乎领先几步。管理层现在预计财政年度的收入上限为 2.7 亿美元，IonQ 有望进一步加速销售增长。</p>
</div><p>Once again, though, profitability is a problem. Along with the big sales gains came widening adjusted losses per share, which more than doubled to 34 cents from 15 cents this time last year. Losses from operations are also mounting. One bright spot here is IonQ's commercial customer business, which is now driving a majority of revenue, and as an added bonus, customers are tending more and more to buy multiple products. On top of that, a full third of the company's sales are to international customers, so it may have an advantage over rivals in that regard as well. Nonetheless, despite these promising achievements, IonQ also faces some of the same hurdles as the companies above.</p>
<div class="lb-trans"><p>然而，盈利能力仍然是一个问题。随着销售大幅增长，调整后的每股亏损也在扩大，从去年的 15 美分增加到 34 美分，增幅超过一倍。运营亏损也在增加。一个亮点是 IonQ 的商业客户业务，现在推动了大部分收入，作为额外的好处，客户越来越倾向于购买多种产品。此外，公司的三分之一销售来自国际客户，因此在这方面可能相较于竞争对手具有优势。尽管如此，尽管取得了这些令人鼓舞的成就，IonQ 仍面临与上述公司相同的一些障碍。</p>
</div><h2>Should You Invest $1,000 in IonQ Right Now?</h2>
<div class="lb-trans"><h2>你现在应该投资 1000 美元在 IonQ 吗？</h2>
</div><p>Before you consider IonQ, you'll want to hear this.</p>
<div class="lb-trans"><p>在考虑 IonQ 之前，你需要听听这个。</p>
</div><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IonQ wasn't on the list.</p>
<div class="lb-trans"><p>MarketBeat 跟踪华尔街顶级评级和表现最佳的研究分析师，以及他们每天向客户推荐的股票。MarketBeat 已经识别出五只股票，顶级分析师正在悄悄地向客户推荐在更广泛的市场注意到之前购买……而 IonQ 并不在名单上。</p>
</div><p>While IonQ currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p>
<div class="lb-trans"><p>虽然 IonQ 目前在分析师中获得了中等买入评级，但顶级分析师认为这五只股票更值得购买。</p>
</div><p>View The Five Stocks Here</p>
<div class="lb-trans"><p>查看这五只股票的详细信息</p>
</div>

三家领先的量子公司在第一季度财报后的表现如何