Rigetti Computing vs. Quantum Computing: Which Quantum Tech Stock Is a Better Buy in 2026? - The Motley Fool

By Robert Izquierdo – May 26, 2026 at 4:40PM EST KEY POINTS Rigetti Computing focuses on full-stack superconducting quantum processors with a heavy reliance on government-funded research contracts. Quantum Computing specializes in quantum optics and integrated photonics, showing significant revenue growth from a very small base. Which of these high-risk, high-reward quantum hardware players deserves a spot in your portfolio? The quantum computing race is heating up, but choosing a winner involves navigating significant financial losses. Will you favor Rigetti Computing ( RGTI 5.28% ) or the smaller Quantum Computing ( QUBT 5.08% ) today? Rigetti builds quantum devices using superconducting technology while Quantum Computing focuses on photonics as its approach. Both companies are early-stage players in a field that could redefine computing power. This comparison evaluates their financials and business models to see which is better positioned for your portfolio. The case for Rigetti Computing Rigetti Computing builds superconducting quantum processors and offers access through its own cloud platform. It serves national laboratories and research centers within the tech stocks landscape, with a heavy reliance on the U.S. government. Sales to government entities comprised roughly 90.2% of total revenue in its 2025 fiscal year, which adds a layer of risk to the business. In its 2025 fiscal year, revenue reached $7.1 million, representing a decrease of nearly 34.3% from the prior year. The company reported a net loss of $216.2 million for the period. The net margin reached approximately -3,050.4%, indicating that losses were significantly larger than the total revenue generated. As of its December 2025 balance sheet, the debt-to-equity ratio is zero. This indicates that the company has no total debt relative to its shareholder equity. The current ratio, which measures the ability to cover short-term liabilities with current assets, is very high at nearly 37.4x. Free cash flow, which is cash from operations minus capital expenditures, was negative $77.2 million. The case for Quantum Computing Quantum Computing develops integrated photonics and quantum optics products for high-performance computing. The company says its technologies serve diverse markets, and it has operations in Arizona, California, and Massachusetts. It operates a specialized foundry for integrated photonics to support its machine development. In its 2025 fiscal year, revenue reached roughly $682,000, indicating an 82.8% increase compared to the previous fiscal year. Despite this growth, the company reported a net loss of $18.7 million. The net margin was approximately -2,738.1%, which highlights the fact that the company is currently spending much more on research than it earns. As of its December 2025 balance sheet, the debt-to-equity ratio is zero. The current ratio is roughly 102.4x, which suggests a high level of liquid assets relative to upcoming bills. Free cash flow was approximately negative $37 million, and investors should monitor how quickly the company uses its cash reserves. Risk profile comparison Rigetti Computing faces significant revenue concentration, as most of its business comes from U.S. government contracts. This creates high exposure to budget cuts or changes in federal fiscal policy. The company also faces intense competition from massive tech firms such as Alphabet and IBM., which also use superconducting technology. Quantum Computing relies heavily on chip manufacturers in East Asia, which exposes it to geopolitical instability and trade restrictions. The company has limited experience in large-scale manufacturing, making the transition from research to commercial production difficult. It also competes for talent and market share against established giants like IBM. Valuation comparison Both companies lack a Forward P/E due to negative earnings estimates, and they carry a high P/S ratio. METRIC RIGETTI COMPUTING QUANTUM COMPUTING SECTOR BENCHMARK Forward P/E n/a n/a 40.4x P/S ratio 848x 530x Sector benchmark uses the SPDR XLK sector ETF. Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers. Which stock would I buy in 2026? Having studied and invested in the quantum computing sector for a few years, my choice between investing in Rigetti Computing or Quantum Computing Inc., which refers to itself as QCi, is Rigetti. That said, quantum computer technology is still in its early days, and the long-term winner will be the one with the approach that captures widespread commercial adoption. At this stage, both companies offer viable solutions. My preference for Rigetti over QCi involves several factors. Its revenue is larger, which suggests its technology is capturing more customers. While 2025 sales were down year over year, that appears to be changing in 2026. Its first-quarter revenue totaled $4.4 million, up from 2025’s $1.5 million. It was also awarded a contract with the U.S. government worth up to $100 million in May. Moreover, superconducting quantum tech is more widely adopted as a promising methodology, which is why IBM and Google use it. QCi shows some traction in gaining customers. Its Q1 sales were $3.7 million compared to just $39,000 in 2025. However, it was not among the companies that received the government award in May. While neither stock is particularly cheap from a valuation perspective, investing in Rigetti is about its likelihood for long-term success. Thanks to its higher revenue and quantum computing approach, which is more widely-adopted in the industry, it looks like the better investment compared to QCi. Read Next May 22, 2026 By Keith Noonan Why Rigetti Computing Stock Is Skyrocketing Today May 22, 2026 By Brett Schafer Why Quantum Stock Rigetti Computing Shot Up Almost 50% This Week May 22, 2026 By Rich Smith Why Rigetti Computing Stock Keeps Going Up May 21, 2026 By Scott Levine Why Rigetti Computing Stock Is Rocketing Higher Today May 19, 2026 By Anthony Di Pizio Prediction: Rigetti Computing Stock Will Be Worth This Much in 1 Year May 19, 2026 By Leo Sun Prediction: This Will Be Rigetti Computing's Stock Price in 1 Year ABOUT THE AUTHOR Robert "Izzy" Izquierdo is a contributing Motley Fool stock market analyst covering information technology, consumer discretionary, consumer staples, and communication services sectors. Prior to The Motley Fool, Izzy was head of product management at Target Media Partners, developing and launching multimillion-dollar software used by businesses such as Charter Communications. Prior to that, he worked at Yahoo! and startups on software products in connected TV, AI, consumer apps, and digital advertising. He holds a bachelor’s degree in English literature from UCLA and is certified in software product management. TMFWryWrite STOCKS MENTIONED Rigetti Computing NASDAQ: RGTI $25.03 (-5.28%) -$1.40 Quantum Computing NASDAQ: QUBT $11.69 (-5.08%) -$0.63 *Average returns of all recommendations since inception. Cost basis and return based on previous market day close.