(RGTI) Rigetti Computing - NASDAQ
Sector: Technology | Industry: Computer Hardware | Exchange: NASDAQ (USA) | Market Cap: 6.974m USD | Total Return: 86.7% in 12m
Avg Turnover: 1.10B
Qual. Beats: 0
Rev. Trend: -87.3%
Qual. Beats: 0
Warnings
Beneish M-Score 1.00 > -1.5 - likely earnings manipulation
Below Avwap Earnings
Tailwinds
No distinct edge detected
Rigetti Computing, Inc. (NASDAQ: RGTI) is a vertically integrated quantum computing firm that designs and manufactures superconducting quantum processors. The company’s business model centers on Quantum Computing as a Service (QCaaS), providing cloud-based access to its hardware via the Rigetti Quantum Cloud Services platform. Its product portfolio includes the Novera QPU, the 36-qubit Cepheus system, and the 84-qubit Ankaa-3 architecture.
The company operates within the emerging quantum hardware sector, which utilizes qubits to perform calculations that exceed the capabilities of classical binary systems. Unlike software-only firms, Rigetti maintains its own Foundry Services to produce superconducting chips, allowing for direct control over the hardware development lifecycle and research applications for government and commercial clients.
For a detailed breakdown of the companys financial health and valuation metrics, consider reviewing the latest data on ValueRay.
Rigetti serves a diverse client base including national defense laboratories, academic institutions, and commercial enterprises. Beyond hardware access, the company provides professional services for algorithm development and quantum application programming, alongside its QCS Outpost software for system administration and monitoring.
- Ankaa-3 system deployment benchmarks drive institutional adoption and hardware revenue growth
- Quantum Cloud Services subscription growth scales recurring revenue and operating margins
- Government defense and research grants provide essential non-dilutive capital and validation
- High research and development spend accelerates cash burn and potential dilution risks
- Superconducting qubit fidelity improvements determine competitive positioning against trapped ion rivals
| Net Income: -225.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.13 > 0.02 and ΔFCF/TA 9.48 > 1.0 |
| NWC/Revenue: 3.70k% < 20% (prev 2.20k%; Δ 1.49k% < -1%) |
| CFO/TA -0.09 > 3% & CFO -61.1m > Net Income -225.7m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 6.98 > 1.5 & < 3 |
| Outstanding Shares: last quarter (335.4m) vs 12m ago 11.22% < -2% |
| Gross Margin: -19.84% > 18% (prev 50.37%; Δ -70.21% > 0.5%) |
| Asset Turnover: 2.18% > 50% (prev 3.42%; Δ -1.24% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.57 (Total Current Assets 432.2m - Total Current Liabilities 61.9m) / Total Assets 650.7m |
| B: -1.13 (Retained Earnings -737.8m / Total Assets 650.7m) |
| C: -0.49 (EBIT TTM -225.7m / Avg Total Assets 459.9m) |
| D: 8.70 (Book Value of Equity 583.6m / Total Liabilities 67.1m) |
| Altman-Z'' = 5.87 = AAA |
| DSRI: 3.0 (Receivables 4.38m/1.07m, Revenue 10.0m/9.21m) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 59.97 (AQ_t 0.24 / AQ_t-1 0.00) |
| SGI: 1.09 (Revenue 10.0m / 9.21m) |
| TATA: -0.25 (NI -225.7m - CFO -61.1m) / TA 650.7m) |
| Beneish M = 33.62 (Cap -4..+1) = D |
As of June 16, 2026, the stock is trading at USD 22.70 with a total of 44,650,114 shares traded.
Over the past week, the price has changed by +4.30%,
over one month by +27.17%,
over three months by +40.64% and
over the past year by +86.68%.
Rigetti Computing has received a consensus analysts rating of 4.83. Therefore, it is recommended to buy RGTI.
- StrongBuy: 5
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 29.2 | 28.8% |
P/S = 696.2587
P/B = 11.9495
Revenue TTM = 10.0m USD
EBIT TTM = -225.7m USD
EBITDA TTM = -216.8m USD
Long Term Debt = 4.51m USD (estimated: total debt 6.78m - short term 2.27m)
Short Term Debt = 2.27m USD (from shortTermDebt, last quarter)
Debt = 6.78m USD (from shortLongTermDebtTotal, last quarter) (leases 6.78m already included)
Net Debt = -41.4m USD (calculated: Debt 6.78m - CCE 48.1m)
Enterprise Value = 6.93b USD (6.97b + Debt 6.78m - CCE 48.1m)
Interest Coverage Ratio = unknown (Ebit TTM -225.7m / Interest Expense TTM 0.0)
EV/FCF = -84.91x (Enterprise Value 6.93b / FCF TTM -81.6m)
FCF Yield = -1.18% (FCF TTM -81.6m / Enterprise Value 6.93b)
FCF Margin = -815.2% (FCF TTM -81.6m / Revenue TTM 10.0m)
Net Margin = -2.25k% (Net Income TTM -225.7m / Revenue TTM 10.0m)
Gross Margin = -19.84% ((Revenue TTM 10.0m - Cost of Revenue TTM 12.0m) / Revenue TTM)
Gross Margin QoQ = -28.11% (prev -92.08%)
Tobins Q-Ratio = 10.65 (Enterprise Value 6.93b / Total Assets 650.7m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 6.78m)
Taxrate = 0.0% (0.0 / 33.1m)
NOPAT = -225.7m (EBIT -225.7m * (1 - 0.00%)) [loss with tax shield]
Current Ratio = 6.98 (Total Current Assets 432.2m / Total Current Liabilities 61.9m)
Debt / Equity = 0.01 (Debt 6.78m / totalStockholderEquity, last quarter 583.6m)
Debt / EBITDA = 0.19 (negative EBITDA) (Net Debt -41.4m / EBITDA -216.8m)
Debt / FCF = 0.51 (negative FCF - burning cash) (Net Debt -41.4m / FCF TTM -81.6m)
Total Stockholder Equity = 513.7m (last 4 quarters mean from totalStockholderEquity)
RoA = -49.08% (Net Income -225.7m / Total Assets 650.7m)
RoE = -43.94% (Net Income TTM -225.7m / Total Stockholder Equity 513.7m)
RoCE = -43.56% (EBIT -225.7m / Capital Employed (Equity 513.7m + L.T.Debt 4.51m))
RoIC = -38.22% (negative operating profit) (NOPAT -225.7m / Invested Capital 590.6m)
WACC = 15.28% (E(6.97b)/V(6.98b) * Re(15.29%) + D(6.78m)/V(6.98b) * Rd(0.0%) * (1-Tc(0.0)))
Discount Rate = 15.29% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 86.67 | Cagr: 47.20%
[DCF] Fair Price = unknown (Cash Flow -81.6m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.12 | # QB: 0
Revenue Correlation: -87.35 | Revenue CAGR: -21.50% | SUE: 0.69 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.05 | Chg30d=-7.93% | Revisions=-50% | Analysts=8
EPS next Quarter (2026-09-30): EPS=-0.05 | Chg30d=-12.47% | Revisions=-50% | Analysts=7
EPS current Year (2026-12-31): EPS=-0.18 | Chg30d=-2.11% | Revisions=-40% | GrowthEPS=-14.8% | GrowthRev=+233.5%
EPS next Year (2027-12-31): EPS=-0.20 | Chg30d=-7.68% | Revisions=-40% | GrowthEPS=-10.7% | GrowthRev=+86.1%
[Analyst] Revisions Ratio: -50%