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.
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