Key Highlights

  • D-Wave Quantum (NYSE:QBTS) reports third-quarter 2026 results before the market opens on Tuesday, November 10, 2026, with a webcast at 8:00 a.m. ET, and Rigetti Computing (NASDAQ:RGTI) reports after the close with a call at 5:00 p.m. ET.
  • Expectations for D-Wave point to a loss of about USD 0.10 per share and Revenue of about USD 4.37 million, against USD 3.74 million a year earlier.
  • D-Wave closed at USD 10.68 on Friday after an 18.01% one-day jump but is still down nearly 60% this year, while Rigetti is down about 49.4% year to date.
  • The reports follow a volatile stretch for quantum stocks, which fell sharply in last week's technology selloff before rebounding with the market on November 9.

What to Watch at D-Wave

For D-Wave Quantum (NYSE:QBTS), bookings and system sales matter more than quarterly revenue. In the second quarter the company reported revenue of USD 3.1 million and an adjusted EBITDA loss of USD 37.1 million, but first-half bookings rose 1,120% to USD 35.5 million and remaining performance obligations increased 668% to USD 40.7 million. Quantum Computing as a service revenue grew 50% to USD 1.9 million. Management has said it expects a modest rise in revenue in the third quarter and a much larger fourth quarter, helped by two annealing system sales planned for 2026 at USD 20 million to USD 40 million each. Recent news includes delivery of Italy's first annealing system on October 15 under a deal worth about 10 million euros, a memorandum of understanding with LG CNS on October 28 and an update to its Stride solver on November 4. Investors will want confirmation that system revenue is on schedule.

What to Watch at Rigetti

Rigetti's investors will focus on technical milestones and contract timing. An order from India's C-DAC for a Novera system worth about USD 8.4 million is expected to be recognised in the fourth quarter after acceptance testing, and a hybrid system for a US research Partnership is due for delivery in 2027. On the technology side, Rigetti targets a median two-qubit gate fidelity of about 99.5% on its 108-qubit Cepheus-1 system by the end of 2026, up from about 99.1% in the second quarter, with a longer-term goal of systems around 1,000 qubits. Progress on government funding, including a USD 100 million commerce department program, will also be closely followed. Revenue at Rigetti remains small, so commentary on the order pipeline will carry more weight than the reported numbers.

Risks and What to Watch

Quantum stocks remain among the most volatile in the market, and both reports could produce large moves in either direction. D-Wave Quantum (NYSE:QBTS) and its peers are still loss-making, and their valuations rest on future commercial adoption that remains uncertain. Many have raised large amounts of Equity during rallies, and further raises could dilute holders. A miss on bookings or a delay in system deliveries could weigh heavily on sentiment, while confirmation of large orders could extend the rebound. Investors should watch D-Wave's system sale timing and cash burn, Rigetti's fidelity progress and order recognition, and how both companies frame Demand from government and commercial customers. Commentary on fourth-quarter expectations and 2027 outlooks may matter more than the third-quarter figures themselves.

Where Things Stand

D-Wave reports third-quarter results before the open on November 10, 2026 and Rigetti after the close, with both stocks well below their highs for the year. Bookings, system sales and cash burn matter most for D-Wave, while technical milestones and order timing are the focus at Rigetti. The reports will set the tone for quantum stocks after a volatile two weeks.