Rigetti Computing, Inc. logo RGTI - Rigetti Computing, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 6
HOLD 1
SELL 0
STRONG
SELL
0
| PRICE TARGET: $30.50 DETAILS
HIGH: $40.00
LOW: $20.00
MEDIAN: $31.00
CONSENSUS: $30.50
UPSIDE: 56.89%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4
Revenue
Revenue 4.4 1.9 1.9 1.8 1.5 2.3 2.4 3.1 3.1 3.4 3.1 3.3 2.2 6.1 2.8 2.1 2.1 1.4 2.9 1.5 2.4 1.4
Cost of Revenue 5.6 3.6 1.5 1.2 1.0 1.3 1.2 1.1 3.3 2.3 0.8 0.6 0.5 0.8 0.8 0.9 0.4 5.2 0.4 0.4 0.3 0.3
Gross Profit (1.2) (1.7) 0.4 0.6 0.4 1.0 1.2 2.0 (0.3) 1.1 2.3 2.7 1.7 5.2 2.0 1.3 1.7 (3.8) 2.5 1.2 2.1 1.1
Operating Expenses
R&D Expenses 20.0 17.3 15.0 13.5 15.5 13.7 12.8 11.9 9.7 11.3 13.1 13.2 13.7 15.9 17.4 12.7 13.9 5.0 7.5 7.5 6.9 5.5
SG&A Expenses 4.8 3.5 0 0 0 5.8 5.8 6.2 6.6 6.9 6.0 5.7 9.0 10.7 4.3 3.2 13.0 4.7 4.2 3.4 2.8 3.8
Other Expenses 0 0 5.9 6.9 6.6 0 0 0 0 0 0 0 1.0 5.4 11.7 11.0 0 (5.9) 0 0 0 (0.0)
Operating Expenses 24.7 20.9 21.0 20.4 22.1 19.5 18.6 18.1 16.3 18.3 19.1 19.0 23.7 32.0 33.4 27.0 27.0 3.8 11.6 10.9 9.8 9.3
Operating Income
Operating Income (26.0) (22.6) (20.5) (19.9) (21.6) (18.5) (17.3) (16.1) (16.6) (17.2) (16.8) (16.2) (22.0) (26.7) (31.3) (25.8) (25.3) (7.6) (9.2) (9.7) (7.7) (8.2)
Interest Expense 0 0 0 0 0 0.4 0.7 1.0 1.1 1.3 1.5 1.6 1.5 1.5 1.4 1.0 1.2 2.4 0.6 0 0.1 0
Interest Income 5.4 5.8 5.6 3.0 2.2 1.5 1.2 1.2 1.1 1.3 1.3 1.2 1.3 1.3 1.0 0 0 0.0 0.0 0 0 0.0
Profitability
EBITDA 35.7 (15.8) (198.9) (37.8) 44.4 (150.8) (12.3) (9.9) (17.9) (9.9) (18.1) (12.8) (19.8) (19.2) (15.5) (9.6) (15.0) (8.2) (8.5) (8.9) (6.6) (7.1)
EBIT 33.1 (18.2) (201.0) (39.7) 42.6 (152.5) (14.1) (11.5) (19.7) (11.3) (20.7) (15.4) (21.9) (21.4) (17.3) (11.2) (16.4) (9.2) (9.8) (10.1) (7.7) (8.2)
Income Before Tax 33.1 (18.2) (201.0) (39.7) 42.6 (153.0) (14.8) (12.4) (20.8) (12.6) (22.2) (17.0) (23.4) (22.9) (18.8) (12.3) (17.6) (10.6) (9.8) (10.1) (7.8) (8.2)
Income Tax Expense 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Income 33.1 (18.2) (201.0) (39.7) 42.6 (153.0) (14.8) (12.4) (20.8) (12.6) (22.2) (17.0) (23.4) (22.9) (18.8) (12.3) (17.6) (10.6) (9.8) (10.1) (7.8) (8.2)
Per Share Data
EPS (Basic) 0.10 -0.06 -0.62 -0.13 0.15 -0.80 -0.08 -0.07 -0.14 -0.09 -0.17 -0.13 -0.19 -0.19 -0.16 0.21 0.08 -2.09 0.14 -0.08 -0.07 -0.07
EPS (Diluted) -0.06 -0.06 -0.62 -0.13 0.15 -0.80 -0.08 -0.07 -0.14 -0.09 -0.17 -0.13 -0.19 -0.19 -0.16 0.21 0.08 -2.36 0.54 -0.21 -0.07 -0.07
Shares Outstanding 332.1 309.8 325.0 298.3 284.7 184.7 188.4 171.9 151.9 140.5 133.9 128.5 124.8 121.9 118.6 114.1 114.0 114.0 114.0 114.0 113.8 113.8
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4
Current Assets
Cash & Cash Equivalents 48.1 44.9 26.1 57.2 37.2 67.7 20.3 20.7 35.1 21.4 41.8 21.7 26.1 57.9 73.8 184.0 206.6 11.7 13.1 1.2 1.4 22.2
Short-Term Investments 370.1 398.7 420.9 368.6 172.0 124.4 72.3 79.8 67.7 78.5 68.5 83.8 95.8 84.9 87.2 0 0 0 0 0 0 0
Net Receivables 4.4 2.6 2.3 1.8 1.1 2.4 6.4 5.2 4.7 5.0 3.0 7.6 5.3 6.2 2.3 2.6 1.3 1.5 1.5 0.0 0 0.5
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 3.0 0 0 0 0 0 0 0 0
Other Current Assets 9.6 5.5 3.4 3.0 2.0 9.1 4.9 4.0 2.6 2.7 3.5 1.1 3.0 5.4 2.7 1.5 2.9 1.1 1.7 0 (0.3) 0
Total Current Assets 432.2 454.8 456.3 433.6 214.4 206.8 103.9 109.7 110.0 107.7 116.7 117.5 130.3 154.5 169.6 192.4 215.2 14.6 17.6 1.6 1.8 23.7
Non-Current Assets
Property, Plant & Equipment 63.6 63.5 60.9 56.1 53.7 52.6 53.2 52.5 51.9 52.1 48.4 49.9 51.5 48.8 37.4 30.6 23.9 22.5 22.4 0 0 20.1
Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5.4 5.4 5.4 5.4 5.4 0 0 5.4
Intangible Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Long-Term Investments 150.7 146.3 112.0 145.9 0 25.1 0 0 0 0 0 0 0 0 0 0.1 0 0.3 0 345.0 345.0 0
Other Non-Current Assets 4.1 2.0 1.1 1.1 1.1 0.3 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.2 0.2 1.4 3.6 1.2 0 0 0.4
Total Non-Current Assets 218.5 211.8 174.0 203.1 54.8 78.0 53.4 52.7 52.1 52.2 48.5 50.0 51.6 49.0 43.1 36.2 30.7 31.8 29.0 345.0 345.0 26.0
Total Assets 650.7 666.6 630.3 636.7 269.1 284.8 157.2 162.4 162.1 159.9 165.2 167.6 181.9 203.4 212.7 228.6 245.9 46.4 46.6 346.6 346.8 49.7
Current Liabilities
Account Payables 4.1 3.5 3.3 2.2 3.4 1.6 1.6 1.8 3.8 5.8 1.4 0.9 1.7 1.9 1.7 1.5 3.5 2.0 1.7 0 0 1.1
Short-Term Debt 0 0 0 0 0 2.2 11.2 13.0 12.8 12.2 11.5 10.7 9.7 8.3 6.8 4.2 2.4 0.6 0 0 0 0
Deferred Revenue 1.1 0.8 0 0.1 0.1 0.1 0.9 0.8 0.1 0.3 0.5 0.8 0.6 1.0 0.8 1.1 0.5 1.0 0.6 0 0 0.5
Other Current Liabilities 48.9 0.6 0 0 0 0.6 0 0 0 6.9 0 0.8 0 7.4 0.8 0 0 3.1 0 0.8 0.5 0
Total Current Liabilities 61.9 12.2 11.6 10.4 11.4 11.9 21.5 25.6 24.9 29.1 23.0 21.4 23.0 21.8 16.3 11.3 11.6 7.6 5.3 0.8 0.5 3.2
Non-Current Liabilities
Long-Term Debt 0 0 0 0 0 0 2.1 3.4 6.5 9.9 13.1 16.1 17.8 20.6 23.0 25.2 27.7 24.2 18.2 0 0.0 0
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 0 102.6 240.7 66.5 43.7 139.0 3.9 5.9 9.3 5.1 9.7 4.5 4.1 3.0 7.5 18.3 41.2 4.7 86.2 27.8 25.8 81.9
Total Non-Current Liabilities 5.2 108.2 246.8 73.0 50.6 146.3 13.0 14.7 21.7 21.3 29.5 27.9 29.5 31.5 30.5 43.5 68.9 28.9 104.4 27.8 25.8 81.9
Total Liabilities 67.1 120.4 258.4 83.4 62.0 158.2 34.4 40.3 46.5 50.3 52.5 49.2 52.4 53.2 46.8 54.8 80.5 36.4 109.8 28.5 26.3 85.1
Stockholders' Equity
Common Stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 313.1 315.5 0.0
Retained Earnings (737.8) (771.0) (752.8) (551.8) (512.1) (554.7) (401.8) (387.0) (374.5) (353.8) (341.2) (319.0) (302.0) (278.7) (255.8) (227.6) (217.6) (207.1) (198.4) (3.6) (1.2) (168.9)
Accumulated Other Comprehensive Income (0.7) 1.0 0.7 0.1 (0.1) 0.1 0.3 0.1 0.1 0.2 0.1 0.0 (0.0) (0.2) (0.5) 0.1 0.1 0.1 0.0 0 (128.4) 0.1
Total Stockholders' Equity 583.6 546.2 371.8 553.3 207.1 126.6 122.8 122.2 115.6 109.6 112.7 118.4 129.5 150.2 165.9 173.8 165.4 10.0 (63.1) 318.1 320.5 (35.4)
Total Liabilities & Equity 650.7 666.6 630.3 636.7 269.1 284.8 157.2 162.4 162.1 159.9 165.2 167.6 181.9 203.4 212.7 228.6 245.9 46.4 46.6 346.6 346.8 49.7
Debt Metrics
Total Debt 6.8 7.2 7.6 8.0 8.4 8.8 22.5 24.1 27.4 30.6 33.5 36.4 37.4 39.1 29.8 29.4 30.0 24.8 18.2 0 0.0 0
Net Debt (41.4) (37.7) (18.5) (49.2) (28.8) (58.9) 2.2 3.4 (7.7) 9.2 (8.2) 14.7 11.2 (18.7) (44.0) (154.6) (176.6) 13.1 5.1 (1.2) (1.4) (22.2)
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4
Operating Activities
Net Income 33.1 (18.2) (201.0) (39.7) 42.6 (153.0) (14.8) (12.4) (20.8) (12.6) (22.2) (17.0) (23.4) (22.9) (18.8) (12.3) (10.5) (20.7) (9.8) (10.1) (7.8) (8.2)
Depreciation & Amortization 2.6 2.4 2.1 1.9 1.8 1.8 1.8 1.5 1.8 1.0 2.1 2.2 2.1 2.2 1.8 1.6 1.4 3.3 1.3 (1.1) 1.1 1.1
Stock-Based Compensation 5.9 5.6 4.3 3.6 4.2 3.4 3.4 3.3 3.0 3.7 3.7 3.4 1.7 7.2 15.1 11.0 11.5 (0.1) 0.5 (0.5) 0.6 (0.1)
Change in Working Capital (3.2) (3.5) (2.0) (3.2) 0.9 4.1 3.4 (2.2) (1.2) 0.1 5.4 (6.7) 0.8 (2.1) 1.7 (3.4) (0.0) 0.4 (0.5) 0.0 0.3 1.0
Other Non-Cash Items (54.7) (1.1) 182.8 21.2 (63.1) 135.2 (9.3) (3.7) 4.0 (4.6) 6.5 (0.0) 3.3 1.4 (13.3) (5.3) (18.1) 2.1 0.5 1.6 0.6 0
Operating Cash Flow (16.2) (14.9) (13.8) (16.2) (13.7) (8.5) (15.4) (13.5) (13.1) (12.4) (4.5) (18.1) (15.5) (14.2) (13.4) (19.4) (15.7) (13.5) (8.4) (1.6) (5.8) (6.2)
Investing Activities
Capital Expenditure (4.4) (4.6) (5.9) (5.7) (2.5) (1.3) (2.3) (2.0) (5.5) (1.5) (1.8) (0.9) (4.8) (3.4) (8.7) (7.8) (2.8) (3.5) (2.0) (2.3) (1.5) (0.8)
Acquisitions 0 0 0 0 0 0 0 0 0 0 0 (13.2) 0 0 0 0 0 0 0 0 0 0
Purchases of Investments (100.8) (113.0) (84.1) (394.5) (44.1) (126.3) (22.5) (48.7) (27.3) (30.2) (21.4) (19.1) (38.5) 2.9 (87.2) 0 0 0 0 0 0 0
Sales/Maturities of Investments 125 104 70 54 23 50.0 31.0 37.5 39 21.0 37.5 32.2 28.3 0 0 0 0 0 0 0 0 0
Other Investing Activities 0 0 0 0 0 0 0 0 0 0 0 13.2 0 0 0 0 0 0 0 0 0 0
Investing Cash Flow 19.8 (13.6) (20.0) (346.1) (23.6) (77.6) 6.3 (13.3) 6.2 (10.8) 14.3 12.2 (15.0) (0.5) (95.8) (7.8) (2.8) (3.5) (2.0) (2.3) (1.5) (0.8)
Financing Activities
Net Debt Issuance 0 0 0 0 0 (13.8) (3.3) (3.2) (3.0) (2.9) (2.5) (1.1) (1.8) (1.3) 0 0 5 15 0 0 12 0
Stock Repurchased 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities 0 0 (0.1) (0.7) 6.3 (7.2) (0.0) (0.3) (0.1) 0.1 0.1 0.2 0.6 (0.3) (1.0) (0.7) 208.4 (1.6) 0.1 (12.0) 0.0 0
Financing Cash Flow 0.1 47.2 2.8 382.2 6.9 133.7 8.7 12.4 20.7 2.7 10.3 1.4 (1.2) (1.6) (0.7) 4.4 213.4 13.7 0.1 8.1 12.0 0
Cash Position
Net Change in Cash 3.3 18.7 (31.1) 20.0 (30.5) 47.4 (0.4) (14.4) 13.7 (20.4) 20.0 (4.4) (31.8) (16.1) (110.2) (22.6) 194.9 10.8 (0.3) (1.6) 4.8 (7.0)
Cash at Beginning 44.9 26.1 57.2 37.2 67.7 20.3 20.7 35.1 21.4 41.8 21.7 26.1 57.9 74.0 184.0 206.6 12.0 0.9 1.2 1.4 24.4 29.5
Cash at End 48.1 44.9 26.1 57.2 37.2 67.7 20.3 20.7 35.1 21.4 41.8 21.7 26.1 57.9 73.8 184.0 206.9 11.7 0.9 (1.6) 29.2 22.5
Free Cash Flow (20.6) (19.5) (19.7) (21.8) (16.2) (9.8) (17.7) (15.6) (18.6) (14.0) (6.3) (19.0) (20.4) (17.6) (22.1) (27.2) (18.6) (17.0) (10.5) (1.6) (7.3) (7.0)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4
Income Statement
Revenue 4.4 1.9 1.9 1.8 1.5 2.3 2.4 3.1 3.1 3.4 3.1 3.3 2.2 6.1 2.8 2.1 2.1 1.4 2.9 1.5 2.4 1.4
Gross Profit (1.2) (1.7) 0.4 0.6 0.4 1.0 1.2 2.0 (0.3) 1.1 2.3 2.7 1.7 5.2 2.0 1.3 1.7 (3.8) 2.5 1.2 2.1 1.1
Operating Income (26.0) (22.6) (20.5) (19.9) (21.6) (18.5) (17.3) (16.1) (16.6) (17.2) (16.8) (16.2) (22.0) (26.7) (31.3) (25.8) (25.3) (7.6) (9.2) (9.7) (7.7) (8.2)
Net Income 33.1 (18.2) (201.0) (39.7) 42.6 (153.0) (14.8) (12.4) (20.8) (12.6) (22.2) (17.0) (23.4) (22.9) (18.8) (12.3) (17.6) (10.6) (9.8) (10.1) (7.8) (8.2)
EPS (Diluted) -0.06 -0.06 -0.62 -0.13 0.15 -0.80 -0.08 -0.07 -0.14 -0.09 -0.17 -0.13 -0.19 -0.19 -0.16 0.21 0.08 -2.36 0.54 -0.21 -0.07 -0.07
Balance Sheet
Cash & Equivalents 48.1 44.9 26.1 57.2 37.2 67.7 20.3 20.7 35.1 21.4 41.8 21.7 26.1 57.9 73.8 184.0 206.6 11.7 13.1 1.2 1.4 22.2
Total Assets 650.7 666.6 630.3 636.7 269.1 284.8 157.2 162.4 162.1 159.9 165.2 167.6 181.9 203.4 212.7 228.6 245.9 46.4 46.6 346.6 346.8 49.7
Total Debt 6.8 7.2 7.6 8.0 8.4 8.8 22.5 24.1 27.4 30.6 33.5 36.4 37.4 39.1 29.8 29.4 30.0 24.8 18.2 0 0.0 0
Stockholders' Equity 583.6 546.2 371.8 553.3 207.1 126.6 122.8 122.2 115.6 109.6 112.7 118.4 129.5 150.2 165.9 173.8 165.4 10.0 (63.1) 318.1 320.5 (35.4)
Cash Flow
Operating Cash Flow (16.2) (14.9) (13.8) (16.2) (13.7) (8.5) (15.4) (13.5) (13.1) (12.4) (4.5) (18.1) (15.5) (14.2) (13.4) (19.4) (15.7) (13.5) (8.4) (1.6) (5.8) (6.2)
Capital Expenditure (4.4) (4.6) (5.9) (5.7) (2.5) (1.3) (2.3) (2.0) (5.5) (1.5) (1.8) (0.9) (4.8) (3.4) (8.7) (7.8) (2.8) (3.5) (2.0) (2.3) (1.5) (0.8)
Free Cash Flow (20.6) (19.5) (19.7) (21.8) (16.2) (9.8) (17.7) (15.6) (18.6) (14.0) (6.3) (19.0) (20.4) (17.6) (22.1) (27.2) (18.6) (17.0) (10.5) (1.6) (7.3) (7.0)