Rigetti Computing (RGTI) AI Stock Analysis

• Market Cap: $7.74B
• Dividend Yield: N/A
• Average Volume (3M): 59.68M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.24
• Revenue Growth: -36.98%
• EPS Growth: -238.63%
• Country: US
• Employees: 137
• Sector: Technology
• Sector Strength: 88
• Industry: Computer Hardware
• EPS (TTM): -0.03
• Shares Outstanding: 330,026,100
• 10 Day Avg. Volume: 35,987,134
• 30 Day Avg. Volume: 59,677,633
• PEG Ratio: -0.15
• Price to Book (P/B): 22.26
• Price to Sales (P/S): 261.17
• P/FCF Ratio: -45.65
• Enterprise Value/Market Cap: 1.19
• Enterprise Value/Revenue: 1.23K
• Enterprise Value/Gross Profit: 3.83K
• Enterprise Value/Ebitda: -23.86
• 1Y Price Target: $40.60
• Price Target Upside: 55.91% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): -0.29
• Revenue Forecast (FY): $8.14M

• Rating: 41 Neutral
• Price Target: $22.50 ▼(-13.59% Downside)

Rigetti Computing's overall stock score is primarily impacted by its weak financial performance, characterized by declining revenues and significant losses. Technical analysis further indicates bearish momentum, while valuation metrics reflect the company's current unprofitability. Despite promising technological advancements, immediate financial challenges dominate the outlook.

Positive Factors

Technological Advancements

The development of advanced quantum systems positions Rigetti as a leader in quantum computing, potentially expanding its market share and technological edge.

Strategic Collaborations

Partnerships with government agencies like the Air Force Research Laboratory enhance Rigetti's credibility and provide stable revenue streams, supporting long-term growth.

Financial Strength

A strong cash position with no debt provides Rigetti with significant financial flexibility to invest in R&D and weather economic uncertainties.

Negative Factors

Revenue Decline

Declining revenues indicate challenges in maintaining market demand and could impact Rigetti's ability to fund future innovations and operations.

Decreased Gross Margins

Falling gross margins suggest increased cost pressures or pricing challenges, which could undermine profitability and long-term financial health.

Increased Operating Expenses

Rising operating expenses, driven by salary increases and higher costs, may strain Rigetti's profitability, necessitating efficiency improvements.

Rigetti Computing Business Overview & Revenue Model

Company Description

Rigetti Computing, Inc. operates as an integrated systems company. The company builds quantum computers and the superconducting quantum processors that power them. Its machines are integrated into various public, private, or hybrid clouds through its Quantum Cloud Services platform. The company was founded in 2013 and is based in Berkeley, California.

How the Company Makes Money

Rigetti Computing generates revenue through multiple streams, primarily by offering quantum computing as a service (QCaaS) through its cloud platform, which allows businesses and researchers to access its quantum processors for various computational tasks. Additionally, the company partners with industry leaders and academic institutions to develop custom quantum solutions, which can include consulting services and the sale of proprietary quantum hardware. Strategic collaborations with technology giants and government agencies further enhance its revenue potential by securing funding for joint research and development projects, as well as providing access to broader markets.

Rigetti Computing Financial Statement Overview

Summary

Rigetti Computing faces significant financial challenges with declining revenues, substantial losses, and cash flow difficulties. Despite maintaining low leverage, profitability and cash generation are concerning, indicating a need for strategic improvements.

Income Statement

Rigetti Computing's income statement shows declining revenue with a negative growth rate of -5.44% TTM. The company has a negative net profit margin of -20.80% and a negative EBIT margin of -20.65%, indicating significant losses. Gross profit margin is relatively moderate at 40.57%, but overall profitability is weak due to high operational losses.

Balance Sheet

The balance sheet reflects a low debt-to-equity ratio of 0.014, suggesting minimal leverage, which is a positive aspect. However, the return on equity is negative at -65.29%, indicating inefficiencies in generating returns for shareholders. The equity ratio is not explicitly calculated, but the low leverage suggests a stable capital structure.

Cash Flow

Cash flow analysis reveals negative operating cash flow and free cash flow, with a slight positive growth in free cash flow of 3.06% TTM. The operating cash flow to net income ratio is negative, indicating cash flow challenges. The free cash flow to net income ratio is above 1, suggesting some ability to cover net losses with free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	7.49M	10.79M	12.01M	13.10M	8.20M	5.54M
Gross Profit	2.42M	5.70M	9.21M	10.23M	1.92M	4.05M
EBITDA	-387.45M	-190.83M	-61.90M	-59.22M	-31.13M	-30.79M
Net Income	-350.96M	-200.99M	-75.11M	-71.52M	-38.24M	-17.21M
Balance Sheet
Total Assets	630.27M	284.79M	159.91M	203.44M	46.43M	49.68M
Cash, Cash Equivalents and Short-Term Investments	446.98M	192.09M	99.93M	142.81M	11.73M	22.20M
Total Debt	7.60M	8.80M	30.57M	39.14M	24.79M	0.00
Total Liabilities	258.45M	158.20M	50.33M	53.22M	36.43M	85.11M
Stockholders Equity	371.83M	126.59M	109.59M	150.22M	9.99M	-35.43M
Cash Flow
Free Cash Flow	-67.57M	-61.73M	-59.64M	-85.43M	-36.30M	-34.47M
Operating Cash Flow	-52.19M	-50.63M	-50.58M	-62.69M	-29.29M	-30.07M
Investing Cash Flow	-467.30M	-78.36M	773.00K	-107.02M	-7.01M	-4.40M
Financing Cash Flow	525.59M	175.46M	13.23M	215.45M	25.83M	56.29M

Rigetti Computing Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 26.04
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RGTI, the sentiment is Neutral. The current price of 26.04 is below the 20-day moving average (MA) of 27.41, below the 50-day MA of 35.30, and above the 200-day MA of 18.27, indicating a neutral trend. The MACD of -2.99 indicates Negative momentum. The RSI at 42.98 is Neutral, neither overbought nor oversold. The STOCH value of 57.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for RGTI.

Rigetti Computing Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
IONQ	50 Neutral	$16.63B	―	-108.23%	―	113.07%	-555.52%
QUBT	47 Neutral	$2.45B	―	-14.49%	―	41.51%	-111.74%
QBTS	46 Neutral	$7.50B	―	-122.03%	―	156.20%	-218.56%
RGTI	41 Neutral	$7.74B	―	-141.90%	―	-36.98%	-238.63%

Rigetti Computing Corporate Events

Rigetti Computing’s Earnings Call: A Mixed Outlook

The recent earnings call of Rigetti Computing Inc. painted a picture of mixed sentiment, reflecting both optimism and challenges. While the company showcased promising technological advancements and strategic collaborations, financial hurdles such as declining revenues and gross margins tempered the overall outlook. The exclusion from a key DARPA initiative further added to the cautious sentiment, despite a robust future roadmap.

Rigetti Computing’s Q3 2025 Financial Report and Strategic Advances

Rigetti Computing Inc. is a leading company in the quantum computing sector, known for its full-stack quantum-classical computing solutions and pioneering advancements in scalable quantum systems.

Rigetti Computing Partners with India’s C-DAC for Quantum Innovation

On September 2, 2025, Rigetti Computing announced a Memorandum of Understanding with India’s Centre for Development of Advanced Computing (C-DAC) to explore the co-development of hybrid quantum computing systems. This collaboration aims to support government laboratories and academics in quantum computing research and development, focusing on the design and market introduction of hybrid systems and related technologies. The partnership is expected to drive innovation in electronics and information technology, particularly in quantum and hybrid computing, reinforcing India’s position in next-generation technologies.

The most recent analyst rating on (RGTI) stock is a Hold with a $16.50 price target. To see the full list of analyst forecasts on Rigetti Computing stock, see the RGTI Stock Forecast page.

Rigetti Computing’s Earnings Call: Tech Gains Amid Financial Strains

The recent earnings call for Rigetti Computing Inc. painted a mixed picture for investors, with notable advancements in technology and strategic financial moves being overshadowed by declining revenues and increased losses. While the company is making strides in quantum computing, financial challenges remain a concern.