Quantum Rivals Clash: D-Wave vs Rigetti – Which Stock Will Skyrocket in 2026?
D-Wave reported Q2 FY2025 revenue of $3.1 million, up 42% year-over-year, but posted a GAAP net loss of $167.3 million, mainly from non-cash warrant charges. The company ended the quarter with $819 million in cash after a $400 million equity raise. Rigetti’s Q2 revenue reached $1.8 million with a $39.7 million net loss and $572 million in cash. Both firms trade at price/sales ratios in the hundreds or higher despite low sales.