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Rigetti Computing, Inc. RGTI R2KAI

Technology · Computer Hardware · United States
https://www.rigetti.com

Rigetti Computing, Inc., through its subsidiaries, builds and operates quantum computers and the superconducting quantum processors the United States, the United Kingdom, rest of Europe, Asia, and internationally. The company offers quantum processing units (QPUs) and quantum computing systems to provide access to quantum computing systems through the cloud in the form of quantum computing as a service (QCaaS). It provides Novera, a 9-qubit chip QPU that features tunable couplers for fast two-qubit operations and a 5-qubit chip for testing single-qubit operations; Novera QPU that is based in fourth generation Ankaa-class architecture; 36-qubit Cepheus-1-36Q system, a multi-chip quantum computer; and 84-qubit Ankaa-3 quantum computer. The company also sells access to its quantum computers through QCaaS. In addition, the company offers Rigetti quantum cloud services, a platform that provides support for various range of programming capabilities, public or private clouds integration, and connectivity, as well as quantum operating system software that supports public and private cloud architectures. Further, it offers QCS Outpost, a distributed software environment for operating, administering, and monitoring the overall system; Rigetti Foundry Services that delivers superconducting quantum chips to advance and accelerate quantum information science and technology research and development; and professional services, such as algorithm development, benchmarking, quantum application programming, and software development. The company serves commercial enterprises, government organizations, and international government entities, as well as academia, defense laboratories, and national laboratories. Rigetti Computing, Inc. was founded in 2013 and is headquartered in Berkeley, California.

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$25.54
+110.90% 1Y

Market & Price

Market Cap
$8.49B
Current Price
$25.54
High / Low (52W)
$56.34 / $10.79
Beta
1.80

Valuation

Stock P/E
-
Industry PE
32.74
Forward P/E
-
PEG Ratio
-
Book Value
$1.76
Price to Book
14.54
P/S
847.59
EV/EBITDA
-100.94
Dividend Yield
-

Profitability & Returns

ROCE
-33.04%
ROE
-57.09%
ROA
-12.09%
Profit Margin
0.00%
Op Margin
-
EPS (Latest Qtr)
$-0.06
EPS (TTM)
$-0.89

Balance Sheet & Liquidity

Debt/Equity
1.16
Quick Ratio
6.83
Current Ratio
6.99
Debt
$6.78M
Total Assets
$666.57M
Current Assets
$454.76M
Working Capital
$442.61M

Ownership

Promoter Holding
1.78%
Chg in Prom Hold
-
FII / Inst Holding
53.95%
Chg in FII Hold
0.15%

Financial Snapshot

Enterprise Value
$8.08B
Total Revenue (TTM)
$10.02M
EBITDA
$-80.02M
Free Cash Flow
$-6.21M
Operating Cash Flow
$-61.11M
Shares Outstanding
332.40M
Gross Margin
29.95%
Payout Ratio
0.00%

Growth (CAGR)

Revenue 5Y
-18.52%
Profit 5Y
-67.43%
Revenue (YoY)
198.90%
Earnings (YoY)
-

PROS

No notable strengths flagged.

CONS

  • Revenue declined at -18.5% CAGR over 5 years.
  • Earnings shrank at -67.4% CAGR over 5 years.
  • Trading 54.7% below its 52-week high.
  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 RGTI Rigetti Computing, Inc. R2KAI 25.54 - $8.49B - -33.04% -57.09% -18.52% -67.43%
2 NVDA NVIDIA Corporation NDXSPXAI 211.14 32.38 $5.11T 0.47% 81.14% 114.29% 100.05% 201.80%
3 AAPL Apple Inc. NDXSPX 312.06 37.73 $4.58T 0.35% 68.72% 141.47% 1.81% 3.92%
4 MSFT Microsoft Corporation NDXSPXAI 450.24 26.82 $3.34T 0.81% 26.37% 34.01% 12.42% 11.87%
5 TSM Taiwan Semiconductor Manufacturing Company Limited AI 418.45 35.86 $2.17T 0.91% 32.04% 36.21% 18.94% 19.57%
6 MU Micron Technology, Inc. NDXSPXAI 971.00 45.87 $1.10T 0.06% 14.20% 39.82% 6.71% -0.57%
7 AMD Advanced Micro Devices, Inc. NDXSPXAI 516.10 172.61 $841.55B - 6.33% 8.06% 13.64% 48.64%
8 ORCL Oracle Corporation SPXAI 225.78 40.46 $649.35B 0.89% 13.07% 57.57% 10.59% 22.81%
9 ASML ASML Holding N.V. NDXAI 1,612.76 53.76 $621.59B 0.54% 43.81% 52.24% 15.55% 19.55%
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Quarterly Results

Figures in USD.

Metric Mar 2021Jun 2021Sep 2021Mar 2022Jun 2022Sep 2022Mar 2023Jun 2023Sep 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue 2.36M1.54M2.92M2.10M2.13M2.80M2.20M------1.47M1.80M1.95M1.87M4.40M
Cost of Revenue -------------1.03M1.24M1.54M1.22M3.02M
Gross Profit 2.09M1.18M2.47M1.69M1.26M2.03M1.69M2.73M2.27M1.50M1.99M1.20M-442.00K566.00K404.00K652.00K1.38M
Operating Expenses -------------22.07M20.45M20.95M23.25M27.33M
Operating Income -7.68M-9.68M-9.17M-25.27M-25.76M-31.32M-22.02M-16.24M-16.83M-16.59M-16.09M-17.35M--21.63M-19.88M-20.55M-22.60M-25.95M
EBITDA --------------19.80M-37.76M-198.89M-15.84M-23.34M
Interest Expense ------------446.00K0000-
Pretax Income -------------42.62M-39.65M-200.97M-18.21M33.11M
Tax Provision -------------00000
Net Income -7.79M-10.07M-9.76M-17.64M-12.25M-18.75M-23.35M-16.97M-22.21M-20.77M-12.42M-14.83M-42.62M-39.65M-200.97M-18.21M33.11M
Diluted EPS --0.46-0.43-0.33-0.11-0.16-0.19-0.13-0.17-0.14-0.07-0.08-0.13-0.13-0.62-0.06-0.06
R&D Expense 6.93M7.50M7.48M13.93M12.75M17.36M13.71M13.22M13.06M11.47M11.87M12.75M-15.46M13.52M15.02M-19.96M

Profit & Loss (Annual)

Figures in USD.

Metric Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Revenue 8.20M13.10M12.01M10.79M7.09M
Cost of Revenue -2.87M2.80M5.09M5.02M
Gross Profit 6.57M10.23M9.21M5.70M2.06M
Operating Expenses -113.93M80.51M74.21M86.72M
Operating Income -34.13M-103.70M-71.30M-68.51M-84.66M
EBITDA --59.22M-61.90M-190.83M-208.04M
Interest Expense -5.29M5.78M3.25M0
Pretax Income --71.52M-75.11M-200.99M-216.21M
Tax Provision -0000
Net Income -38.24M-71.52M-75.11M-200.99M-216.21M
Diluted EPS -1.64-0.70-0.57-1.09-0.70
R&D Expense 26.93M59.95M52.77M49.75M61.34M

Compounded Sales Growth

5 Years:-18.52%
1 Year:198.90%

Compounded Profit Growth

5 Years:-67.43%
1 Year:-

Stock Price Performance

1 Year:+110.90%
6 Months:-2.07%
3 Months:+46.61%
1 Month:+58.83%

Balance Sheet (Annual)

Figures in USD.

Metric Dec 2020Jan 2021Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Total Assets 43.31K-46.43M203.44M159.91M284.79M666.57M
Current Assets ---154.47M107.67M206.76M454.76M
Cash & Equivalents --11.73M57.89M21.39M67.67M44.85M
Inventory -------
Receivables ---6.24M5.03M2.43M2.55M
Total Liabilities 33.00K-36.43M53.22M50.33M158.20M120.38M
Current Liabilities 33.00K-7.57M21.75M29.05M11.87M12.15M
Long Term Debt ---20.64M9.89M--
Total Debt ---39.14M30.57M8.80M7.17M
Total Equity 0-35.42M-71.53M150.22M109.59M126.59M546.20M
Shares Outstanding ---125.26M147.07M283.55M331.28M

Cash Flows (Annual)

Figures in USD.

Metric Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating Cash Flow -29.04M-62.69M-50.58M-50.63M-58.54M
Investing Cash Flow -7.01M-107.02M773.00K-78.36M-403.33M
Financing Cash Flow 25.58M215.45M13.23M175.46M439.09M
Capital Expenditure -7.01M-22.74M-9.06M-11.10M-18.68M
Free Cash Flow -36.05M-85.43M-59.64M-61.73M-77.22M
Net Change in Cash -45.74M-36.58M46.47M-22.79M

Ratios (Annual)

Figures in %.

Metric Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Gross Margin % 80.2%78.1%76.7%52.8%29.1%
Operating Margin % -416.4%-791.5%-593.8%-634.9%-1,194.4%
Net Margin % -466.6%-545.9%-625.5%-1,862.7%-3,050.4%
ROE % 53.5%-47.6%-68.5%-158.8%-39.6%
ROCE % -87.8%-57.1%-54.5%-25.1%-12.9%

Shareholding Pattern

Insiders
1.78%
Institutions
53.95%
Public Float
54.92%

Top Institutional Holders

#Holder% HeldSharesValue
1 Blackrock Inc. 7.65% 25.44M $649.62M
2 Vanguard Portfolio Management LLC 5.86% 19.47M $497.17M
3 Vanguard Capital Management LLC 4.29% 14.26M $364.16M
4 Shaw D.E. & Co., Inc. 4.19% 13.92M $355.57M
5 State Street Corporation 3.05% 10.14M $258.93M
6 Geode Capital Management, LLC 2.45% 8.13M $207.58M
7 UBS Group AG 1.46% 4.85M $123.83M
8 Defiance Etfs, LLC 1.40% 4.65M $118.77M
9 Morgan Stanley 1.17% 3.88M $99.06M
10 Unicom Systems, Inc. 1.06% 3.52M $89.95M

Analyst View

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