Rigetti Computing, Inc. RGTI
Our mission is to build the world's most powerful computers to help solve humanity's most important and pressing problems. Our strategy is to be at the forefront of superconducting quantum computing.
Classical computers are plateauing, Moore's law has slowed, returns for parallelization are diminishing and energy requirements can't keep up. Today, many of the world's most important computational challenges remain intractable, lying beyond the capabilities of traditional supercomputers and cloud infrastructure. We build and operate quantum computers. We believe quantum computing represents one of the most transformative emerging capabilities in the world today. By leveraging quantum mechanics, our quantum computers process information in fundamentally new, more powerful ways compared to classical computing with meaningful power efficiency. When scaled, we believe these systems are poised to solve problems of staggering computational complexity at unprecedented speed.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $7.1M | $10.8M | $12.0M | $13.1M | $8.2M | — |
| Cost of revenue | $5.0M | $5.1M | $2.8M | $2.9M | $1.6M | — |
| Gross profit | $2.1M | $5.7M | $9.2M | $10.2M | $6.6M | — |
| R&D | $61.3M | $49.8M | $52.8M | $60.0M | $26.9M | — |
| SG&A | $25.4M | $24.5M | $27.7M | $54.0M | $11.3M | — |
| Total operating expenses | $86.7M | $74.2M | $81.5M | $119.3M | $40.7M | — |
| Operating income | -$84.7M | -$68.5M | -$72.3M | -$109.1M | -$34.1M | — |
| Interest expense | $0 | $3.3M | $5.8M | $5.3M | $2.5M | — |
| Pre-tax income | -$216.2M | -$201.0M | -$75.1M | -$71.5M | -$38.2M | — |
| Income tax | $0 | $0 | $0 | $0 | $0 | — |
| Net income | -$216.2M | -$201.0M | -$75.1M | -$71.5M | -$38.2M | — |
| EPS, basic | -0.70 | -1.09 | -0.57 | -0.70 | -1.64 | — |
| EPS, diluted | -0.70 | -1.09 | -0.57 | -0.70 | -1.64 | — |
| Shares, diluted (wtd. avg.) | 309.8M | 184.7M | 132.0M | 102.3M | 23.3M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $44.9M | $67.7M | $21.4M | $57.9M | $11.7M | — |
| Short-term investments | — | $124.4M | $78.5M | $84.9M | — | — |
| Receivables | $2.6M | $2.4M | $5.0M | $6.2M | $1.5M | — |
| Total current assets | $454.8M | $206.8M | $107.7M | $154.5M | $18.1M | $10.3K |
| Property, plant and equipment | $57.1M | $44.6M | $44.5M | $39.5M | $22.5M | — |
| Goodwill | — | — | — | $0 | $5.4M | $5.4M |
| Total assets | $666.6M | $284.8M | $159.9M | $203.4M | $46.4M | $43.3K |
| Accounts payable | $3.5M | $1.6M | $5.8M | $1.9M | $2.0M | — |
| Short-term debt | — | $0 | $12.2M | $8.3M | $575.0K | — |
| Total current liabilities | $12.2M | $11.9M | $29.1M | $21.8M | $7.6M | $33.0K |
| Long-term debt | — | $0 | $9.9M | $20.6M | — | — |
| Total liabilities | $120.4M | $158.2M | $50.3M | $53.2M | $36.4M | $33.0K |
| Retained earnings | -$771.0M | -$554.7M | -$353.8M | -$278.7M | -$207.1M | -$14.7K |
| Total equity | $546.2M | $126.6M | $109.6M | $150.2M | -$71.5M | -$35.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$58.5M | -$50.6M | -$50.6M | -$62.7M | -$29.0M | — |
| Depreciation and amortisation | $8.1M | $6.9M | $7.4M | $7.0M | $4.7M | — |
| Stock-based compensation | $17.6M | $13.1M | $12.4M | $44.8M | $1.8M | — |
| Capital expenditure | $18.7M | $11.1M | $9.1M | $22.7M | $7.0M | — |
| Investing cash flow | -$403.3M | -$78.4M | $773.0K | -$107.0M | -$7.0M | — |
| Financing cash flow | $439.1M | $175.5M | $13.2M | $215.5M | $25.6M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-023454.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | $8.2M | $13.1M | $12.0M | $10.8M | $7.1M |
| Gross profit | — | $6.6M | $10.2M | $9.2M | $5.7M | $2.1M |
| Net income | — | -$38.2M | -$71.5M | -$75.1M | -$201.0M | -$216.2M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Officer or director change Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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