RGTI - Rigetti Computing, Inc.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$30.50
DETAILS
HIGH:
$40.00
LOW:
$20.00
MEDIAN:
$31.00
CONSENSUS:
$30.50
UPSIDE:
56.89%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| Revenue | 7.1 | 10.8 | 12.0 | 13.1 | 8.2 | 5.5 | 0.7 |
| Cost of Revenue | 13.2 | 5.1 | 2.8 | 2.9 | 6.3 | 1.5 | 0.3 |
| Gross Profit | (6.1) | 5.7 | 9.2 | 10.2 | 1.9 | 4.1 | 0.4 |
| Operating Expenses | |||||||
| R&D Expenses | 61.3 | 49.8 | 52.8 | 60.0 | 26.9 | 24.1 | 29.4 |
| SG&A Expenses | 17.2 | 24.5 | 27.7 | 54.0 | 15.0 | 15.0 | 18.7 |
| Other Expenses | 0 | 0 | 1.0 | 5.4 | (5.9) | 0 | 0 |
| Operating Expenses | 78.6 | 74.2 | 81.5 | 119.3 | 36.1 | 39.1 | 48.1 |
| Operating Income | |||||||
| Operating Income | (84.7) | (68.5) | (72.3) | (109.1) | (34.1) | (35.1) | (47.7) |
| Interest Expense | 0 | 3.3 | 5.8 | 5.3 | 2.5 | 0 | 0 |
| Interest Income | 16.6 | 5.1 | 5.1 | 2.4 | 0.0 | 0 | 0.7 |
| Profitability | |||||||
| EBITDA | (208.0) | (190.8) | (61.9) | (59.2) | (31.1) | (30.8) | (43.8) |
| EBIT | (216.2) | (197.7) | (69.3) | (66.2) | (35.8) | (35.1) | (47.7) |
| Income Before Tax | (216.2) | (201.0) | (75.1) | (71.5) | (38.2) | (26.1) | (53.8) |
| Income Tax Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | (216.2) | (201.0) | (75.1) | (71.5) | (38.2) | (17.2) | (53.8) |
| Per Share Data | |||||||
| EPS (Basic) | -0.70 | -1.09 | -0.57 | -0.70 | -2.10 | -0.40 | -0.48 |
| EPS (Diluted) | -0.70 | -1.09 | -0.57 | -0.70 | -2.10 | -0.40 | -0.48 |
| Shares Outstanding | 309.8 | 184.7 | 132.0 | 102.3 | 18.2 | 43.1 | 113.8 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Current Assets | |||||||
| Cash & Cash Equivalents | 44.9 | 67.7 | 21.4 | 57.9 | 11.7 | 22.2 | 0.3 |
| Short-Term Investments | 398.7 | 124.4 | 78.5 | 84.9 | 0 | 0 | 0 |
| Net Receivables | 2.6 | 2.4 | 5.0 | 6.2 | 1.5 | 0.5 | 0.2 |
| Inventory | 0 | 0 | 0 | 3.0 | 0 | 0 | 0 |
| Other Current Assets | 8.7 | 9.1 | 2.7 | 5.4 | 1.1 | 0 | 0 |
| Total Current Assets | 454.8 | 206.8 | 107.7 | 154.5 | 14.6 | 23.7 | 1.6 |
| Non-Current Assets | |||||||
| Property, Plant & Equipment | 63.5 | 52.6 | 52.1 | 48.8 | 22.5 | 20.1 | 20.0 |
| Goodwill | 0 | 0 | 0 | 0 | 5.4 | 5.4 | 5.4 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 146.3 | 25.1 | 0 | 0 | 0.3 | 0 | 0 |
| Other Non-Current Assets | 2.0 | 0.3 | 0.1 | 0.1 | 3.6 | 0.4 | 0.4 |
| Total Non-Current Assets | 211.8 | 78.0 | 52.2 | 49.0 | 31.8 | 26.0 | 25.9 |
| Total Assets | 666.6 | 284.8 | 159.9 | 203.4 | 46.4 | 49.7 | 27.5 |
| Current Liabilities | |||||||
| Account Payables | 3.5 | 1.6 | 5.8 | 1.9 | 2.0 | 1.1 | 3.1 |
| Short-Term Debt | 0 | 2.2 | 12.2 | 8.3 | 0.6 | 0 | 26.9 |
| Deferred Revenue | 0.8 | 0.1 | 0.3 | 1.0 | 1.0 | 0.5 | 1.9 |
| Other Current Liabilities | 0.8 | 0.6 | 3.3 | 7.4 | 3.1 | 0 | 1.9 |
| Total Current Liabilities | 12.2 | 11.9 | 29.1 | 21.8 | 7.6 | 3.2 | 34.8 |
| Non-Current Liabilities | |||||||
| Long-Term Debt | 0 | 0 | 9.9 | 20.6 | 24.2 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 102.6 | 139.0 | 5.1 | 3.0 | 4.7 | 81.9 | 121.1 |
| Total Non-Current Liabilities | 108.2 | 146.3 | 21.3 | 31.5 | 28.9 | 81.9 | 121.1 |
| Total Liabilities | 120.4 | 158.2 | 50.3 | 53.2 | 36.4 | 85.1 | 155.9 |
| Stockholders' Equity | |||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | (771.0) | (554.7) | (353.8) | (278.7) | (207.1) | (168.9) | (142.8) |
| Accumulated Other Comprehensive Income | 1.0 | 0.1 | 0.2 | (0.2) | 0.1 | 0.1 | (0.0) |
| Total Stockholders' Equity | 546.2 | 126.6 | 109.6 | 150.2 | 10.0 | (35.4) | (128.4) |
| Total Liabilities & Equity | 666.6 | 284.8 | 159.9 | 203.4 | 46.4 | 49.7 | 27.5 |
| Debt Metrics | |||||||
| Total Debt | 7.2 | 8.8 | 30.6 | 39.1 | 24.8 | 0 | 26.9 |
| Net Debt | (37.7) | (58.9) | 9.2 | (18.7) | 13.1 | (22.2) | 26.6 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||
| Net Income | (216.2) | (201.0) | (75.1) | (71.5) | (38.2) | (26.1) | (53.8) |
| Depreciation & Amortization | 8.2 | 6.9 | 7.4 | 7.0 | 4.7 | 4.3 | 3.9 |
| Stock-Based Compensation | 17.6 | 13.1 | 12.4 | 44.8 | 1.9 | 2.6 | 2.8 |
| Change in Working Capital | (7.9) | (3.1) | (0.5) | (2.3) | 0.2 | (1.9) | 4.6 |
| Other Non-Cash Items | 139.8 | 133.5 | 5.2 | (40.7) | 4.1 | (8.9) | 5.6 |
| Operating Cash Flow | (58.5) | (50.6) | (50.6) | (62.7) | (29.3) | (30.1) | (36.9) |
| Investing Activities | |||||||
| Capital Expenditure | (18.7) | (11.1) | (9.1) | (22.7) | (7.0) | (4.4) | (3.1) |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0.1 |
| Purchases of Investments | (635.7) | (224.8) | (109.3) | (84.3) | 0 | 0 | 0 |
| Sales/Maturities of Investments | 251 | 157.5 | 119.1 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investing Cash Flow | (403.3) | (78.4) | 0.8 | (107.0) | (7.0) | (4.4) | (2.9) |
| Financing Activities | |||||||
| Net Debt Issuance | 0 | (23.3) | (8.3) | 3.7 | 27 | 2.2 | 17.1 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 6.3 | (7.6) | 1.0 | 205.7 | (1.5) | 0.1 | 1.6 |
| Financing Cash Flow | 439.1 | 175.5 | 13.2 | 215.5 | 25.8 | 56.3 | 18.7 |
| Cash Position | |||||||
| Net Change in Cash | (22.8) | 46.3 | (36.5) | 45.8 | 11.7 | 21.9 | (21.1) |
| Cash at Beginning | 67.7 | 21.4 | 57.9 | 12.0 | 0.6 | 0.6 | 21.7 |
| Cash at End | 44.9 | 67.7 | 21.4 | 57.9 | 11.7 | 22.5 | 0.6 |
| Free Cash Flow | (77.2) | (61.7) | (59.6) | (85.4) | (36.3) | (34.5) | (40.0) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 7.1 | 10.8 | 12.0 | 13.1 | 8.2 | 5.5 | 0.7 |
| Gross Profit | (6.1) | 5.7 | 9.2 | 10.2 | 1.9 | 4.1 | 0.4 |
| Operating Income | (84.7) | (68.5) | (72.3) | (109.1) | (34.1) | (35.1) | (47.7) |
| Net Income | (216.2) | (201.0) | (75.1) | (71.5) | (38.2) | (17.2) | (53.8) |
| EPS (Diluted) | -0.70 | -1.09 | -0.57 | -0.70 | -2.10 | -0.40 | -0.48 |
| Balance Sheet | |||||||
| Cash & Equivalents | 44.9 | 67.7 | 21.4 | 57.9 | 11.7 | 22.2 | 0.3 |
| Total Assets | 666.6 | 284.8 | 159.9 | 203.4 | 46.4 | 49.7 | 27.5 |
| Total Debt | 7.2 | 8.8 | 30.6 | 39.1 | 24.8 | 0 | 26.9 |
| Stockholders' Equity | 546.2 | 126.6 | 109.6 | 150.2 | 10.0 | (35.4) | (128.4) |
| Cash Flow | |||||||
| Operating Cash Flow | (58.5) | (50.6) | (50.6) | (62.7) | (29.3) | (30.1) | (36.9) |
| Capital Expenditure | (18.7) | (11.1) | (9.1) | (22.7) | (7.0) | (4.4) | (3.1) |
| Free Cash Flow | (77.2) | (61.7) | (59.6) | (85.4) | (36.3) | (34.5) | (40.0) |