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Rigetti Computing (RGTI) Financials

Rigetti Computing logo
$16.53 +0.77 (+4.89%)
Closing price 09/21/2026 04:00 PM Eastern
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$16.41 -0.12 (-0.75%)
As of 09:16 AM Eastern
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Annual Income Statements for Rigetti Computing

Annual Income Statements for Rigetti Computing

This table shows Rigetti Computing's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -23 -72 -75 -201 -216
Consolidated Net Income / (Loss)		 -46 -72 -75 -201 -216
Net Income / (Loss) Continuing Operations		 -23 -72 -75 -201 -216
Total Pre-Tax Income 		-23 -72 -75 -201 -216
Total Operating Income		 -4.90 -109 -72 -69 -85
Total Gross Profit		 0.00 10 9.21 5.70 2.06
Total Revenue		 0.00 13 12 11 7.09
Operating Revenue		 - 13 12 11 7.09
Total Cost of Revenue		 0.00 2.87 2.80 5.09 5.02
Operating Cost of Revenue		 - 2.87 2.80 5.09 5.02
Total Operating Expenses		 4.90 119 82 74 87
Selling, General & Admin Expense		 4.90 54 28 24 25
Research & Development Expense		 - 60 53 50 61
Total Other Income / (Expense), net		 -18 38 -2.81 -132 -132
Interest Expense		 - 5.29 5.78 3.68 0.00
Interest & Investment Income		 0.02 2.43 5.08 5.11 17
Other Income / (Expense), net		 -18 40 -2.11 -134 -148
Income Tax Expense		 - 0.00 0.00 0.00 0.00
Basic Earnings per Share		 ($0.62) ($0.70) ($0.57) ($1.09) ($0.70)
Weighted Average Basic Shares Outstanding		 0.00 102.30M 131.98M 184.67M 309.76M
Diluted Earnings per Share		 ($1.24) ($0.70) ($0.57) ($1.09) ($0.70)
Weighted Average Diluted Shares Outstanding		 0.00 102.30M 131.98M 184.67M 309.76M
Weighted Average Basic & Diluted Shares Outstanding		 37.07M 102.30M 131.98M 285.83M 332.15M

Quarterly Income Statements for Rigetti Computing

This table shows Rigetti Computing's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -13 -21 -12 -15 -153 43 -40 -201 -18 33 -53
Consolidated Net Income / (Loss)		 -13 -21 -12 -15 -153 43 -40 -201 -18 33 -53
Net Income / (Loss) Continuing Operations		 -13 -21 -12 -15 -153 43 -40 -201 -18 33 -53
Total Pre-Tax Income 		-13 -21 -12 -15 -153 43 -40 -201 -18 33 -53
Total Operating Income		 -17 -17 -16 -17 -18 -22 -20 -21 -23 -26 -28
Total Gross Profit		 2.52 1.50 1.99 1.20 1.00 0.44 0.57 0.40 0.65 1.38 2.19
Total Revenue		 3.38 3.05 3.09 2.38 2.27 1.47 1.80 1.95 1.87 4.40 5.14
Operating Revenue		 3.38 3.05 3.09 2.38 2.27 1.47 1.80 1.95 1.87 4.40 5.14
Total Cost of Revenue		 0.86 1.55 1.10 1.17 1.27 1.03 1.24 1.54 1.22 3.02 2.95
Operating Cost of Revenue		 0.86 1.55 1.10 1.17 1.27 1.03 1.24 1.54 1.22 3.02 2.95
Total Operating Expenses		 20 18 18 19 19 22 20 21 23 27 30
Selling, General & Admin Expense		 6.94 6.61 6.21 5.80 5.84 6.62 6.93 5.93 5.90 7.37 9.52
Research & Development Expense		 13 11 12 13 14 15 14 15 17 20 21
Total Other Income / (Expense), net		 4.64 -4.19 3.66 2.51 -134 64 -20 -180 4.39 59 -25
Interest & Investment Income		 1.33 1.12 1.22 1.23 1.55 2.15 3.04 5.60 5.77 5.36 5.06
Other Income / (Expense), net		 4.57 -4.20 3.42 2.02 -135 62 -23 -186 -1.38 54 -30
Basic Earnings per Share		 ($0.08) ($0.14) ($0.07) ($0.08) ($0.80) $0.15 ($0.13) ($0.62) ($0.10) $0.10 ($0.16)
Weighted Average Basic Shares Outstanding		 131.98M 151.86M 171.90M 188.39M 184.67M 284.70M 298.25M 325.02M 309.76M 332.06M 333.22M
Diluted Earnings per Share		 ($0.25) ($0.14) ($0.07) ($0.08) ($0.88) $0.13 ($0.13) ($0.62) ($0.08) ($0.06) ($0.16)
Weighted Average Diluted Shares Outstanding		 131.98M 151.86M 171.90M 188.39M 184.67M 301.60M 298.25M 325.02M 309.76M 335.44M 333.22M
Weighted Average Basic & Diluted Shares Outstanding		 131.98M 151.86M 191.24M 192.30M 285.83M 290.32M 324.17M 330.03M 332.15M 332.40M 333.77M

Annual Cash Flow Statements for Rigetti Computing

This table details how cash moves in and out of Rigetti Computing's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 0.53 46 -36 46 -23
Net Cash From Operating Activities		 -0.96 -63 -51 -51 -59
Net Cash From Continuing Operating Activities		 -0.96 -63 -51 -51 -59
Net Income / (Loss) Continuing Operations		 -23 -72 -75 -201 -216
Consolidated Net Income / (Loss)		 -23 -72 -75 -201 -216
Depreciation Expense		 - 7.02 7.43 6.91 8.17
Amortization Expense		 - 1.47 1.45 0.84 0.00
Non-Cash Adjustments To Reconcile Net Income		 18 22 15 102 160
Changes in Operating Assets and Liabilities, net		 3.94 -22 0.45 41 -10
Net Cash From Investing Activities		 -345 -107 0.77 -78 -403
Net Cash From Continuing Investing Activities		 -345 -107 0.77 -78 -403
Purchase of Property, Plant & Equipment		 - -23 -9.06 -11 -19
Purchase of Investments		 - -84 -109 -225 -636
Sale and/or Maturity of Investments		 - 0.00 119 158 251
Net Cash From Financing Activities		 346 215 13 175 439
Net Cash From Continuing Financing Activities		 346 215 13 175 439
Repayment of Debt		 -0.28 -1.38 -8.33 -23 0.00
Issuance of Common Equity		 354 6.07 22 206 382
Other Financing Activities, net		 - 206 -0.11 -7.55 57
Effect of Exchange Rate Changes		 - 0.10 0.08 -0.19 -0.04
Cash Interest Paid		 - 3.82 4.34 2.35 0.00

Quarterly Cash Flow Statements for Rigetti Computing

This table details how cash moves in and out of Rigetti Computing's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -20 14 -14 -0.40 47 -31 20 -31 19 3.30 -20
Net Cash From Operating Activities		 -12 -13 -14 -15 -8.54 -14 -16 -14 -15 -16 -16
Net Cash From Continuing Operating Activities		 -12 -13 -14 -15 -8.54 -14 -16 -14 -15 -16 -16
Net Income / (Loss) Continuing Operations		 -13 -21 -12 -15 -153 43 -40 -201 -18 33 -53
Consolidated Net Income / (Loss)		 -13 -21 -12 -15 -153 43 -40 -201 -18 33 -53
Depreciation Expense		 1.05 1.79 1.55 1.82 1.75 1.83 1.89 2.07 2.37 2.62 2.87
Non-Cash Adjustments To Reconcile Net Income		 0.11 5.11 0.66 2.00 94 -50 23 183 4.47 -49 36
Changes in Operating Assets and Liabilities, net		 -1.35 0.44 -3.55 -4.61 48 -7.97 -0.94 2.05 -3.54 -3.16 -2.41
Net Cash From Investing Activities		 -11 6.22 -13 6.27 -78 -24 -346 -20 -14 20 -4.82
Net Cash From Continuing Investing Activities		 -11 6.22 -13 6.27 -78 -24 -346 -20 -14 20 -4.82
Purchase of Property, Plant & Equipment		 -1.55 -5.49 -2.05 -2.28 -1.28 -2.55 -5.67 -5.89 -4.57 -4.41 -12
Purchase of Investments		 -30 -27 -49 -22 -126 -44 -394 -84 -113 -101 -89
Sale and/or Maturity of Investments		 21 39 38 31 50 23 54 70 104 125 96
Net Cash From Financing Activities		 2.69 21 12 8.69 134 6.94 382 2.82 47 0.08 0.40
Net Cash From Continuing Financing Activities		 2.69 21 12 8.69 134 6.94 382 2.82 47 0.08 0.40
Other Financing Activities, net		 - -0.11 -0.27 -0.03 -7.63 6.94 0.44 2.82 47 0.08 0.40
Effect of Exchange Rate Changes		 0.12 -0.09 -0.03 0.07 -0.15 -0.19 0.15 -0.07 0.07 -0.38 -0.19

Annual Balance Sheets for Rigetti Computing

This table presents Rigetti Computing's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 0.04 46 203 160 285 667
Total Current Assets		 0.01 18 154 108 207 455
Cash & Equivalents		 0.00 12 58 21 68 45
Short-Term Investments		 - 0.00 85 79 124 399
Accounts Receivable		 - 1.54 6.24 5.03 2.43 2.55
Prepaid Expenses		 0.01 1.35 2.45 1.94 3.16 3.19
Other Current Assets		 - 3.45 2.97 0.77 9.08 5.51
Plant, Property, & Equipment, net		 0.00 22 40 44 45 57
Total Noncurrent Assets		 0.03 5.86 9.45 7.76 33 155
Long-Term Investments		 - - - 0.00 25 146
Other Noncurrent Operating Assets		 0.03 0.48 9.45 7.76 8.32 8.44
Total Liabilities & Shareholders' Equity		 0.04 46 203 160 285 667
Total Liabilities		 0.03 36 53 50 158 120
Total Current Liabilities		 0.03 7.57 22 29 12 12
Accounts Payable		 0.00 5.78 10 14 9.60 9.07
Current Deferred Revenue		 - 0.99 0.96 0.34 0.11 0.85
Other Current Liabilities		 - 0.23 2.35 2.21 2.16 2.24
Total Noncurrent Liabilities		 0.00 110 31 21 146 108
Noncurrent Deferred Revenue		 - - - 0.00 0.70 0.70
Other Noncurrent Operating Liabilities		 0.00 86 11 11 146 108
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 0.01 -72 150 110 127 546
Total Preferred & Common Equity		 0.01 -72 150 110 127 546
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 0.01 -72 150 110 127 546
Common Stock		 0.03 136 429 463 681 1,316
Retained Earnings		 -0.01 -207 -279 -354 -555 -771
Accumulated Other Comprehensive Income / (Loss)		 - 0.05 -0.16 0.24 0.11 1.00

Quarterly Balance Sheets for Rigetti Computing

This table presents Rigetti Computing's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 182 168 165 162 162 157 269 637 630 651 648
Total Current Assets		 130 118 117 110 110 104 214 434 456 432 414
Cash & Equivalents		 26 22 42 35 21 20 37 57 26 48 28
Short-Term Investments		 96 84 68 68 80 72 172 369 421 370 366
Accounts Receivable		 5.32 7.63 3.00 4.71 5.23 6.38 1.07 1.75 2.28 4.38 3.87
Prepaid Expenses		 1.76 3.34 3.47 2.58 3.96 4.90 2.12 3.06 3.66 2.24 4.22
Other Current Assets		 1.22 1.09 0.00 - - - 2.04 3.03 3.38 7.34 13
Plant, Property, & Equipment, net		 43 41 40 45 46 45 46 49 54 58 75
Total Noncurrent Assets		 9.07 8.68 8.16 7.46 7.09 8.55 8.68 154 120 161 159
Long-Term Investments		 - - - - - - 0.00 146 112 151 148
Other Noncurrent Operating Assets		 9.07 8.68 8.16 7.46 7.09 8.55 8.68 8.34 7.96 10 11
Total Liabilities & Shareholders' Equity		 182 168 165 162 162 157 269 637 630 651 648
Total Liabilities		 52 49 53 47 40 34 62 83 258 67 111
Total Current Liabilities		 23 21 23 25 26 21 11 10 12 62 105
Accounts Payable		 10 7.50 8.84 9.71 9.45 7.19 9.07 8.11 9.42 9.67 21
Current Deferred Revenue		 0.56 0.83 0.47 0.13 0.84 0.89 0.15 0.12 0.00 1.06 3.32
Other Current Liabilities		 2.35 2.35 2.21 2.22 2.23 2.14 2.18 2.20 2.22 51 81
Total Noncurrent Liabilities		 29 28 29 22 15 13 51 73 247 5.21 5.74
Noncurrent Deferred Revenue		 - - - - - - 0.70 0.70 0.70 0.70 0.70
Other Noncurrent Operating Liabilities		 12 12 16 15 11 11 50 72 246 4.51 5.04
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 129 118 113 116 122 123 207 553 372 584 537
Total Preferred & Common Equity		 129 118 113 116 122 123 207 553 372 584 537
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 129 118 113 116 122 123 207 553 372 584 537
Common Stock		 431 437 454 490 509 524 719 1,105 1,124 1,322 1,330
Retained Earnings		 -302 -319 -341 -375 -387 -402 -512 -552 -753 -738 -790
Accumulated Other Comprehensive Income / (Loss)		 -0.01 0.00 0.07 0.14 0.12 0.25 -0.09 0.13 0.69 -0.71 -1.75

Annual Metrics And Ratios for Rigetti Computing

This table displays calculated financial ratios and metrics derived from Rigetti Computing's official financial filings.

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - 330,026,078.00
DEI Adjusted Shares Outstanding		 - - - - 330,026,078.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - -0.66
Growth Metrics		 - - - - -
Profitability Metrics		 - - - - -
Net Operating Profit after Tax (NOPAT)		 -3.43 -76 -51 -48 -59
Return On Investment Capital (ROIC_SIMPLE)		 - - -38.44% -37.88% -10.85%
Earnings before Interest and Taxes (EBIT)		 -23 -69 -74 -202 -233
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -23 -60 -66 -195 -225
Valuation Ratios		 - - - - -
Leverage & Solvency		 - - - - -
Liquidity Ratios		 - - - - -
Cash Flow Metrics		 - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -171 -46 74 -106
Efficiency Ratios		 - - - - -
Capital & Investment Metrics		 - - - - -
Invested Capital		 -58 36 32 -91 -44
Increase / (Decrease) in Invested Capital		 0.00 95 -4.63 -122 47
Book Value per Share		 ($1.66) $1.27 $0.78 $0.66 $1.66
Tangible Book Value per Share		 ($1.78) $1.27 $0.78 $0.66 $1.66
Total Capital		 -47 179 132 127 546
Total Debt		 25 29 22 0.00 0.00
Total Long-Term Debt		 24 21 9.89 0.00 0.00
Net Debt		 13 -114 -78 -217 -590
Capital Expenditures (CapEx)		 0.00 23 9.06 11 19
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -0.65 -1.79 -9.15 2.80 -0.90
Debt-free Net Working Capital (DFNWC)		 11 141 91 195 443
Net Working Capital (NWC)		 11 133 79 195 443
Net Nonoperating Expense (NNE)		 43 -4.84 25 153 157
Net Nonoperating Obligations (NNO)		 13 -114 -78 -217 -590
Total Depreciation and Amortization (D&A)		 0.00 8.49 8.88 7.75 8.17
Earnings Adjustments		 - - - - -
Adjusted Basic Earnings per Share		 ($0.62) ($0.70) ($0.57) ($1.09) ($0.70)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 102.30M 131.98M 184.67M 309.76M
Adjusted Diluted Earnings per Share		 ($1.24) ($0.70) ($0.57) ($1.09) ($0.70)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 102.30M 131.98M 184.67M 309.76M
Adjusted Basic & Diluted Earnings per Share		 ($1.24) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 37.07M 102.30M 131.98M 285.83M 332.15M
Normalized Net Operating Profit after Tax (NOPAT)		 -3.43 -73 -50 -48 -59
Debt Service Ratios		 - - - - -
Payout Ratios		 - - - - -

Quarterly Metrics And Ratios for Rigetti Computing

This table displays calculated financial ratios and metrics derived from Rigetti Computing's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - 330,026,078.00 332,150,557.00 332,398,807.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 330,026,078.00 332,150,557.00 332,398,807.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - -0.06 0.10 -0.16
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -44.31% 38.66% -7.24% -23.41% -32.62% -51.77% -41.64% -18.12% - 198.91% 185.29%
EBITDA Growth		 43.95% 9.62% 23.10% 31.58% -1,250.85% 326.13% -275.23% -1,436.26% - -28.22% -34.29%
EBIT Growth		 44.24% 10.29% 23.63% 30.35% -1,116.04% 294.66% -236.99% -1,247.81% - -31.44% -35.06%
NOPAT Growth		 35.62% 24.68% 0.93% -3.05% -7.48% -86.33% -23.61% -18.47% - -19.97% -41.14%
Net Income Growth		 45.03% 11.05% 26.79% 33.23% -1,116.68% 305.17% -219.25% -1,254.87% - -22.31% -32.66%
EPS Growth		 -150.00% 26.32% 46.15% 0.00% -252.00% 192.86% -85.71% -675.00% - -146.15% -23.08%
Operating Cash Flow Growth		 12.57% 15.49% 25.20% -239.80% 31.21% -3.90% -19.62% 10.40% - -18.79% 2.42%
Free Cash Flow Firm Growth		 93.47% 90.40% 72.68% -587.04% 1,575.45% 243.53% 538.63% 855.98% - -440.65% -180.29%
Invested Capital Growth		 -12.75% -8.29% -3.93% 60.78% -385.57% -106.23% -148.25% -529.49% - 830.80% 78.99%
Revenue Q/Q Growth		 8.70% -9.57% 1.11% -22.94% -4.37% -35.27% 22.35% 8.11% - 135.55% 16.77%
EBITDA Q/Q Growth		 42.25% -66.46% 41.86% -22.41% -1,040.27% 127.87% -196.47% -401.18% - 240.53% -280.48%
EBIT Q/Q Growth		 42.59% -64.55% 39.05% -20.96% -902.45% 126.34% -205.51% -383.81% - 215.72% -307.83%
NOPAT Q/Q Growth		 -2.23% 3.61% 3.01% -7.84% -6.62% -67.10% 35.66% -3.35% - -64.06% 24.31%
Net Income Q/Q Growth		 43.41% -65.23% 40.21% -19.42% -931.22% 127.86% -193.04% -406.80% - 281.85% -258.89%
EPS Q/Q Growth		 0.00% -75.00% 50.00% 100.00% 0.00% 114.77% -200.00% -376.92% - 25.00% -166.67%
Operating Cash Flow Q/Q Growth		 -173.59% -5.78% -2.88% -14.13% 44.62% -59.77% -18.45% 14.52% - -8.82% 2.71%
Free Cash Flow Firm Q/Q Growth		 -77.96% -17.48% -11.42% -194.95% 482.17% -88.57% 240.51% 408.33% - 32.17% 19.75%
Invested Capital Q/Q Growth		 17.05% 1.30% 18.55% 14.38% -307.90% 97.79% -818.95% -918.08% - 133.50% -126.42%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 74.55% 49.15% 64.48% 50.63% 44.11% 30.03% 31.43% 20.75% - 31.32% 42.58%
EBITDA Margin		 -332.92% -612.84% -352.37% -559.76% -6,674.63% 2,873.37% -2,265.52% -10,502.93% - 690.02% -1,066.47%
Operating Margin		 -509.84% -543.41% -521.22% -729.44% -813.28% -1,469.57% -1,103.94% -1,055.42% - -589.80% -546.17%
EBIT Margin		 -374.34% -681.16% -410.56% -644.49% -6,756.16% 2,749.12% -2,370.68% -10,609.45% - 630.59% -1,122.30%
Profit (Net Income) Margin		 -372.50% -680.64% -402.50% -623.76% -6,726.52% 2,895.31% -2,201.78% -10,321.93% - 752.48% -1,023.86%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00% 100.00%
Interest Burden Percent		 99.51% 99.92% 98.03% 96.78% 99.56% 105.32% 92.88% 97.29% - 119.33% 91.23%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Return on Invested Capital (ROIC)		 -125.92% -145.67% -118.45% -171.85% 0.00% -898.48% -621.45% 0.00% - -936.49% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 -125.37% -135.36% -117.02% -168.58% 0.00% -942.40% -613.60% 0.00% - -951.67% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 92.52% 98.27% 79.20% 118.00% 0.00% 854.42% 595.70% 0.00% - 936.49% 0.00%
Return on Equity (ROE)		 -33.39% -47.40% -39.25% -53.84% -170.20% -44.06% -25.76% -141.90% - 0.00% -43.77%
Cash Return on Invested Capital (CROIC)		 -135.08% -130.73% -116.13% -179.80% 0.00% 0.00% 0.00% 0.00% - -539.83% 0.00%
Operating Return on Assets (OROA)		 -24.74% -50.92% -31.40% -47.53% -327.86% 117.42% -47.02% -201.92% - 13.73% -23.33%
Return on Assets (ROA)		 -24.62% -50.88% -30.78% -46.00% -326.42% 123.67% -43.67% -196.44% - 16.39% -21.28%
Return on Common Equity (ROCE)		 -33.39% -47.40% -39.25% -53.84% -170.20% -44.06% -25.76% -141.90% - 0.00% -43.77%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -62.75% -55.65% -49.33% 0.00% -66.43% 0.00% 0.00% - 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -12 -12 -11 -12 -13 -22 -14 -14 -16 -26 -20
NOPAT Margin		 -356.89% -380.39% -364.86% -510.61% -569.30% -1,469.57% -772.76% -738.79% - -589.80% -382.32%
Net Nonoperating Expense Percent (NNEP)		 -0.55% -10.30% -1.43% -3.26% -94.91% 43.92% -7.85% -58.47% - 15.18% -5.92%
Return On Investment Capital (ROIC_SIMPLE)		 -9.15% - - - -10.23% -10.44% -2.52% -3.87% -2.90% -4.45% -3.66%
Cost of Revenue to Revenue		 25.45% 50.85% 35.52% 49.37% 55.89% 69.97% 68.57% 79.25% - 68.68% 57.42%
SG&A Expenses to Revenue		 205.54% 216.71% 201.07% 243.82% 256.82% 449.66% 384.56% 304.73% - 167.55% 185.33%
R&D to Revenue		 378.84% 375.85% 384.64% 536.25% 600.57% 1,049.93% 750.81% 771.44% - 453.57% 403.43%
Operating Expenses to Revenue		 584.39% 592.56% 585.71% 780.07% 857.39% 1,499.59% 1,135.37% 1,076.17% - 621.11% 588.75%
Earnings before Interest and Taxes (EBIT)		 -13 -21 -13 -15 -154 40 -43 -207 -24 28 -58
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -11 -19 -11 -13 -152 42 -41 -204 -22 30 -55
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.26 2.10 1.51 1.22 23.18 10.93 6.22 25.97 - 7.99 11.95
Price to Tangible Book Value (P/TBV)		 1.26 2.10 1.51 1.22 23.18 10.93 6.22 25.97 - 7.99 11.95
Price to Revenue (P/Rev)		 11.53 18.90 14.58 12.59 271.96 245.79 434.48 1,288.61 - 465.59 480.94
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.91 4.97 2.62 1.62 0.00 0.00 0.00 0.00 - 280.13 0.00
Enterprise Value to Revenue (EV/Rev)		 5.05 12.41 7.92 5.93 251.83 223.09 362.35 1,214.03 - 408.79 440.40
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 36.56 0.00 1,238.18 52.20 - 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.20 0.17 0.13 0.11 0.00 0.00 0.00 0.00 - 0.00 0.00
Long-Term Debt to Equity		 0.09 0.06 0.03 0.02 0.00 0.00 0.00 0.00 - 0.00 0.00
Financial Leverage		 -0.74 -0.73 -0.68 -0.70 -1.25 -0.91 -0.97 -1.29 - -0.98 -1.02
Leverage Ratio		 1.40 1.40 1.37 1.37 1.88 1.34 1.18 1.59 - 1.16 1.18
Compound Leverage Factor		 1.39 1.40 1.35 1.33 1.87 1.41 1.10 1.55 - 1.39 1.07
Debt to Total Capital		 16.76% 14.32% 11.84% 9.77% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Short-Term Debt to Total Capital		 9.24% 9.50% 9.41% 8.26% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Long-Term Debt to Total Capital		 7.52% 4.82% 2.43% 1.51% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Common Equity to Total Capital		 83.24% 85.68% 88.16% 90.23% 100.00% 100.00% 100.00% 100.00% - 100.00% 100.00%
Debt to EBITDA		 -0.34 -0.30 -0.27 -0.25 0.00 0.00 0.00 0.00 - 0.00 0.00
Net Debt to EBITDA		 1.19 1.31 1.39 1.46 0.00 0.00 0.00 0.00 - 0.00 0.00
Long-Term Debt to EBITDA		 -0.15 -0.10 -0.06 -0.04 0.00 0.00 0.00 0.00 - 0.00 0.00
Debt to NOPAT		 -0.44 -0.41 -0.35 -0.28 0.00 0.00 0.00 0.00 - 0.00 0.00
Net Debt to NOPAT		 1.54 1.78 1.80 1.68 0.00 0.00 0.00 0.00 - 0.00 0.00
Long-Term Debt to NOPAT		 -0.20 -0.14 -0.07 -0.04 0.00 0.00 0.00 0.00 - 0.00 0.00
Altman Z-Score		 -1.04 0.19 -0.15 -0.58 7.48 20.68 24.14 20.52 - 40.96 33.37
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.71 4.42 4.29 4.84 17.42 18.82 41.57 39.22 - 6.98 3.94
Quick Ratio		 3.61 4.32 4.14 4.61 16.39 18.45 40.99 38.62 - 6.83 3.78
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -7.41 -8.71 -9.70 -29 109 12 43 216 -63 -43 -34
Operating Cash Flow to CapEx		 -802.39% -239.20% -660.98% -677.22% -666.46% -535.96% -285.32% -234.71% - -367.63% -131.55%
Free Cash Flow to Firm to Interest Expense		 -5.84 -7.87 -10.01 -39.03 125.39 0.00 0.00 0.00 - 0.00 0.00
Operating Cash Flow to Interest Expense		 -9.80 -11.87 -13.95 -21.05 -9.80 0.00 0.00 0.00 - 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -11.02 -16.83 -16.06 -24.15 -11.27 0.00 0.00 0.00 - 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.07 0.07 0.08 0.07 0.05 0.04 0.02 0.02 - 0.02 0.02
Accounts Receivable Turnover		 2.13 2.57 1.96 2.54 2.89 3.19 2.27 1.73 - 3.68 4.75
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Fixed Asset Turnover		 0.29 0.30 0.29 0.28 0.24 0.20 0.17 0.15 - 0.19 0.22
Accounts Payable Turnover		 0.23 0.38 0.51 0.58 0.43 0.49 0.54 0.61 - 0.75 0.61
Days Sales Outstanding (DSO)		 171.19 142.29 186.01 143.96 126.11 114.41 160.85 210.92 - 99.19 76.78
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Days Payable Outstanding (DPO)		 1,595.44 955.20 712.85 624.62 857.50 749.80 680.64 596.51 - 487.28 601.80
Cash Conversion Cycle (CCC)		 -1,424.25 -812.91 -526.83 -480.66 -731.39 -635.39 -519.78 -385.59 - -388.09 -525.02
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 32 32 38 44 -91 -2.00 -18 -187 -44 15 -3.86
Invested Capital Turnover		 0.35 0.38 0.32 0.34 -0.37 0.61 0.80 -0.10 - 1.59 -1.20
Increase / (Decrease) in Invested Capital		 -4.63 -2.90 -1.56 16 -122 -34 -56 -231 47 17 15
Enterprise Value (EV)		 61 160 100 70 2,717 2,055 2,872 9,098 - 4,094 5,881
Market Capitalization		 138 243 184 150 2,934 2,264 3,443 9,657 - 4,663 6,422
Book Value per Share		 $0.78 $0.73 $0.71 $0.64 $0.66 $0.72 $1.91 $1.15 $1.66 $1.76 $1.62
Tangible Book Value per Share		 $0.78 $0.73 $0.71 $0.64 $0.66 $0.72 $1.91 $1.15 $1.66 $1.76 $1.62
Total Capital		 132 135 139 136 127 207 553 372 546 584 537
Total Debt		 22 19 16 13 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 9.89 6.50 3.36 2.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -78 -83 -84 -79 -217 -209 -572 -559 -590 -569 -541
Capital Expenditures (CapEx)		 1.55 5.49 2.05 2.28 1.28 2.55 5.67 5.89 4.57 4.41 12
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -9.15 -4.78 -3.33 1.07 2.80 -6.16 -2.59 -2.32 -0.90 -48 -84
Debt-free Net Working Capital (DFNWC)		 91 98 97 94 195 203 423 445 443 370 309
Net Working Capital (NWC)		 79 85 84 82 195 203 423 445 443 370 309
Net Nonoperating Expense (NNE)		 0.53 9.16 1.16 2.69 140 -64 26 187 2.39 -59 33
Net Nonoperating Obligations (NNO)		 -78 -83 -84 -79 -217 -209 -572 -559 -590 -569 -541
Total Depreciation and Amortization (D&A)		 1.40 2.09 1.80 2.02 1.85 1.83 1.89 2.07 2.37 2.62 2.87
Debt-free, Cash-free Net Working Capital to Revenue		 -76.20% -37.15% -26.40% 9.02% 25.92% -66.87% -32.68% -31.00% - -478.43% -631.89%
Debt-free Net Working Capital to Revenue		 755.99% 761.97% 769.89% 787.60% 1,806.22% 2,203.79% 5,339.42% 5,933.55% - 3,697.34% 2,316.58%
Net Working Capital to Revenue		 654.69% 662.32% 666.53% 693.01% 1,806.22% 2,203.79% 5,339.42% 5,933.55% - 3,697.34% 2,316.58%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.08) ($0.14) ($0.07) ($0.08) ($0.80) $0.15 ($0.13) ($0.62) ($0.10) $0.10 ($0.16)
Adjusted Weighted Average Basic Shares Outstanding		 131.98M 151.86M 171.90M 188.39M 184.67M 284.70M 298.25M 325.02M 309.76M 332.06M 333.22M
Adjusted Diluted Earnings per Share		 ($0.25) ($0.14) ($0.07) $0.00 ($0.88) $0.13 ($0.13) ($0.62) ($0.08) ($0.06) ($0.16)
Adjusted Weighted Average Diluted Shares Outstanding		 131.98M 151.86M 171.90M 0.00 184.67M 301.60M 298.25M 325.02M 309.76M 335.44M 333.22M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 131.98M 151.86M 191.24M 192.30M 285.83M 290.32M 324.17M 330.03M 332.15M 332.40M 333.77M
Normalized Net Operating Profit after Tax (NOPAT)		 -12 -12 -11 -12 -13 -15 -14 -14 -16 -18 -20
Normalized NOPAT Margin		 -356.89% -380.39% -364.86% -510.61% -569.30% -1,028.70% -772.76% -738.79% - -412.86% -382.32%
Pre Tax Income Margin		 -372.50% -680.64% -402.50% -623.76% -6,726.52% 2,895.31% -2,201.78% -10,321.93% - 752.48% -1,023.86%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -9.96 -18.78 -13.08 -20.91 -176.19 0.00 0.00 0.00 - 0.00 0.00
NOPAT to Interest Expense		 -9.50 -10.49 -11.62 -16.57 -14.85 0.00 0.00 0.00 - 0.00 0.00
EBIT Less CapEx to Interest Expense		 -11.18 -23.74 -15.19 -24.02 -177.66 0.00 0.00 0.00 - 0.00 0.00
NOPAT Less CapEx to Interest Expense		 -10.72 -15.45 -13.73 -19.67 -16.32 0.00 0.00 0.00 - 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Rigetti Computing’s latest statements show a company with improving revenue and gross margins, but one that remains heavily dependent on outside capital and investment income. The second quarter of 2026 produced $5.1 million in revenue, up from $4.4 million in the first quarter and $1.8 million in the second quarter of 2025. However, operating expenses remain far above revenue, and the company continues to generate negative operating cash flow.

  • Revenue growth is accelerating: Q2 2026 revenue increased approximately 17% sequentially and 184% year over year. Revenue is also well above the $3.1 million reported in Q2 2024 and $3.3 million in Q2 2023.
  • Gross margin improved: Gross profit rose to $2.2 million in Q2 2026, representing a margin of roughly 43%, compared with approximately 31% in both Q1 2026 and Q2 2025. This suggests improving economics on the company’s revenue base.
  • Rigetti has substantial liquid resources: At June 30, 2026, the company held $27.8 million in cash, $365.9 million in short-term investments and $147.6 million in long-term investments. The balance sheet also showed $537.4 million of equity against $110.8 million of liabilities.
  • Debt exposure appears limited: Unlike earlier periods that included short- and long-term debt, the latest balance sheet does not separately report debt balances. This reduces interest-rate and refinancing risk, although the company still has significant operating losses.
  • Investment income has become important to reported results: Rigetti recorded $5.1 million of interest and investment income in Q2 2026. This provides some support, but it is not a substitute for profitable operations and may fluctuate with cash levels and market conditions.
  • Capital investment is increasing: Net property, plant and equipment grew from $44.6 million in Q1 2024 to $75.3 million in Q2 2026. The spending may support future research and production capacity, but investors will need to see stronger revenue growth to justify the investment.
  • Operating losses remain substantial: Q2 2026 operating loss was $28.1 million, compared with losses of $26.0 million in Q1 2026 and $20.5 million in Q3 2025. Research and development expense alone reached $20.7 million, while selling, general and administrative expense was $9.5 million.
  • Cash flow remains negative: Operating cash flow was negative $15.8 million in Q2 2026 after negative operating cash flow of $16.2 million in Q1 2026, negative $14.9 million in Q4 2025 and negative $13.8 million in Q3 2025. The company also spent $12.0 million on property and equipment during the latest quarter.
  • Net losses are volatile and remain high: Rigetti reported a Q2 2026 net loss of $52.6 million, or $0.16 per share, compared with net income of $33.1 million in Q1. The latest loss was worsened by $29.6 million of net other expense, illustrating how non-operating items can materially affect quarterly results.
  • Shareholder dilution is a major risk: Weighted average basic shares increased from approximately 152 million in Q1 2024 to 333 million in Q2 2026. Common stock reported on the balance sheet also rose from $490.0 million in Q1 2024 to $1.33 billion in Q2 2026, indicating that equity issuance has been an important source of funding.

Overall, Rigetti’s operating momentum is improving, particularly in revenue and gross margin, but the business has not yet demonstrated sustainable profitability or positive cash generation. The company’s large investment portfolio provides financial flexibility, while continued research spending could support long-term growth. For investors, the key questions are whether revenue can scale fast enough to absorb the company’s cost structure and whether future funding needs will result in additional dilution.

The historical comparisons should be interpreted carefully because several earlier income and cash flow statements were marked as restated or calculated in the supplied data. In addition, quarterly investment purchases and sales create significant swings in investing cash flow that may not reflect the underlying operating performance.

09/22/26 08:05 AM ETAI Generated. May Contain Errors.

Rigetti Computing Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Rigetti Computing's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Rigetti Computing's net income appears to be on an upward trend, with a most recent value of -$216.21 million in 2025, rising from -$46.34 million in 2021. The previous period was -$200.99 million in 2024. See where experts think Rigetti Computing is headed by visiting Rigetti Computing's forecast page.

Rigetti Computing's total operating income in 2025 was -$84.66 million, based on the following breakdown:
  • Total Gross Profit: $2.06 million
  • Total Operating Expenses: $86.72 million

Over the last 4 years, Rigetti Computing's total revenue changed from $0.00 in 2021 to $7.09 million in 2025, a change of 708,800,000.0%.

Rigetti Computing's total liabilities were at $120.38 million at the end of 2025, a 23.9% decrease from 2024, and a 364,672.7% increase since 2020.

In the past 5 years, Rigetti Computing's cash and equivalents has ranged from $0.00 in 2020 to $67.67 million in 2024, and is currently $44.85 million as of their latest financial filing in 2025.

Over the last 4 years, Rigetti Computing's book value per share changed from -1.66 in 2021 to 1.66 in 2025, a change of -199.8%.


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Financial statements for NASDAQ:RGTI last updated on 8/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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