Rigetti Computing (RGTI) | Financial Analysis & Statements
Rigetti Computing Inc. Mid-cap Technology
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
1.9M
Gross Profit
652.0K
34.90%
Operating Income
-22.6M
-1,209.69%
Net Income
-18.2M
-974.68%
EPS (Diluted)
$-0.06
Balance Sheet Metrics
Total Assets
666.6M
Total Liabilities
120.4M
Shareholders Equity
546.2M
Debt to Equity
0.22
Cash Flow Metrics
Operating Cash Flow
-9.7M
Free Cash Flow
-19.5M
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
Rigetti Computing Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 7.1M | 10.8M | 12.0M | 13.1M | 5.5M |
| Cost of Goods Sold | 5.0M | 5.1M | 2.8M | 2.9M | 1.5M |
| Gross Profit | 2.1M | 5.7M | 9.2M | 10.2M | 4.1M |
| Gross Margin % | 29.1% | 52.8% | 76.7% | 78.1% | 73.1% |
| Operating Expenses | |||||
| Research & Development | 61.3M | 49.8M | 52.8M | 60.0M | 24.1M |
| Selling, General & Administrative | 25.4M | 24.5M | 27.7M | 54.0M | 15.0M |
| Other Operating Expenses | - | - | - | - | - |
| Total Operating Expenses | 86.7M | 74.2M | 80.5M | 113.9M | 39.1M |
| Operating Income | -84.7M | -68.5M | -71.3M | -103.7M | -35.1M |
| Operating Margin % | -1,194.4% | -634.9% | -593.8% | -791.5% | -633.1% |
| Non-Operating Items | |||||
| Interest Income | 16.6M | 5.1M | 5.1M | 2.4M | - |
| Interest Expense | 0 | 3.3M | 5.8M | 5.3M | - |
| Other Non-Operating Income | -148.1M | -134.3M | -3.1M | 35.0M | 9.0M |
| Pre-tax Income | -216.2M | -201.0M | -75.1M | -71.5M | -26.1M |
| Income Tax | 0 | 0 | 0 | 0 | - |
| Effective Tax Rate % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net Income | -216.2M | -201.0M | -75.1M | -71.5M | -26.1M |
| Net Margin % | -3,050.4% | -1,862.7% | -625.5% | -545.9% | -471.4% |
| Key Metrics | |||||
| EBITDA | -59.9M | -56.5M | -58.8M | -94.3M | -39.7M |
| EPS (Basic) | $-0.70 | $-1.09 | $-0.57 | $-0.70 | $-0.23 |
| EPS (Diluted) | $-0.70 | $-1.09 | $-0.57 | $-0.70 | $-0.23 |
| Basic Shares Outstanding | 309763000 | 184666000 | 131977000 | 102300852 | 113810285 |
| Diluted Shares Outstanding | 309763000 | 184666000 | 131977000 | 102300852 | 113810285 |
Income Statement Trend
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Rigetti Computing Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 44.9M | 67.7M | 21.4M | 57.9M | 11.7M |
| Short-term Investments | 398.7M | 124.4M | 78.5M | 84.9M | - |
| Accounts Receivable | 2.6M | 2.4M | 5.0M | 6.2M | 1.5M |
| Inventory | - | - | - | - | - |
| Other Current Assets | 5.5M | 9.1M | 2.7M | 2.4M | - |
| Total Current Assets | 454.8M | 206.8M | 107.7M | 154.5M | 18.1M |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 93.8M | 78.1M | 72.6M | 62.9M | 33.4M |
| Goodwill | - | - | - | 0 | 10.8M |
| Intangible Assets | - | - | - | - | - |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 2.0M | 325.0K | 129.0K | 129.0K | 481.5K |
| Total Non-Current Assets | 211.8M | 78.0M | 52.2M | 49.0M | 28.4M |
| Total Assets | 666.6M | 284.8M | 159.9M | 203.4M | 46.4M |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 3.5M | 1.6M | 5.8M | 1.9M | 2.0M |
| Short-term Debt | 2.2M | 2.2M | 14.4M | 10.6M | 1.3M |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | 550.0K | 623.0K | 1.3M | 1.3M | 230.0K |
| Total Current Liabilities | 12.2M | 11.9M | 29.1M | 21.8M | 8.3M |
| Non-Current Liabilities | |||||
| Long-term Debt | 4.9M | 6.6M | 16.2M | 28.5M | 23.5M |
| Deferred Tax Liabilities | - | - | - | - | - |
| Other Non-Current Liabilities | - | 45.9M | 2.2M | 1.2M | 294.6K |
| Total Non-Current Liabilities | 108.2M | 146.3M | 21.3M | 31.5M | 109.7M |
| Total Liabilities | 120.4M | 158.2M | 50.3M | 53.2M | 118.0M |
| Equity | |||||
| Common Stock | 33.0K | 29.0K | 14.0K | 12.0K | 23 |
| Retained Earnings | -771.0M | -554.7M | -353.8M | -278.7M | -207.1M |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 546.2M | 126.6M | 109.6M | 150.2M | -71.5M |
| Key Metrics | |||||
| Total Debt | 7.2M | 8.8M | 30.6M | 39.1M | 24.8M |
| Working Capital | 442.6M | 194.9M | 78.6M | 132.7M | 9.8M |
Balance Sheet Composition
Rigetti Computing Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | -216.2M | -201.0M | -75.1M | -71.5M | -26.1M |
| Depreciation & Amortization | 8.2M | 6.9M | 7.4M | 7.0M | 4.3M |
| Stock-Based Compensation | 17.6M | 13.1M | 12.4M | 44.8M | 2.6M |
| Working Capital Changes | 721.0K | 2.0M | 1.5M | -5.7M | -3.6M |
| Operating Cash Flow | -190.7M | -132.5M | -49.7M | -42.6M | -22.8M |
| Investing Activities | |||||
| Capital Expenditures | -18.7M | -11.1M | -9.1M | -22.7M | -4.4M |
| Acquisitions | - | - | - | - | 0 |
| Investment Purchases | -635.7M | -224.8M | -109.3M | -84.3M | - |
| Investment Sales | 251.0M | 157.5M | 119.1M | 0 | - |
| Investing Cash Flow | -403.3M | -78.4M | 773.0K | -107.0M | -4.4M |
| Financing Activities | |||||
| Share Repurchases | - | - | - | - | - |
| Dividends Paid | - | - | - | - | - |
| Debt Issuance | - | - | 0 | 5.0M | 2.2M |
| Debt Repayment | 0 | -23.3M | -8.3M | -1.3M | 0 |
| Financing Cash Flow | 387.1M | 174.9M | 12.1M | 209.4M | 56.2M |
| Free Cash Flow | -77.2M | -61.7M | -59.6M | -85.4M | -34.5M |
| Net Change in Cash | -206.9M | -35.9M | -36.8M | 59.8M | 29.0M |
Cash Flow Trend
Rigetti Computing Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
-26.11
Forward P/E
-100.77
Price to Book
11.07
Price to Sales
855.21
PEG Ratio
0.29
Profitability Ratios
Profit Margin
29.12%
Operating Margin
-1,209.69%
Return on Equity
-64.27%
Return on Assets
-11.12%
Financial Health
Current Ratio
37.42
Debt to Equity
1.31
Beta
1.83
Per Share Data
EPS (TTM)
$-0.70
Book Value per Share
$1.65
Revenue per Share
$0.02
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| RGTI | 6.1B | -26.11 | 11.07 | -64.27% | 29.12% | 1.31 |
| Arista Networks | 222.8B | 64.57 | 17.97 | 31.40% | 38.99% | 0.73 |
| Dell Technologies | 137.9B | 24.44 | -55.95 | -240.32% | 5.23% | -13.06 |
| D-Wave Quantum | 7.1B | -17.39 | 8.94 | -77.62% | 82.59% | 5.10 |
| Quantum Computing | 2.0B | -82.64 | 1.38 | -2.19% | 9.82% | 0.16 |
| Western Digital | 138.1B | 38.17 | 19.27 | 41.13% | 35.64% | 65.44 |
Financial data is updated regularly. All figures are in the company's reporting currency.






