RGTI Stock Analysis: Rigetti Computing | NASDAQ
Computer Hardware | NASDAQ, USA | Market Cap: 4.287m USD | 12M Return: -76.7% | US76655K1034 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 231M
Qual. Beats: 0
Rev. Trend: -56.4%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 5.4 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Rigetti Computing is a U.S.-headquartered quantum computing company that designs, builds, and operates superconducting quantum processors and full-stack quantum systems. Founded in 2013 and based in Berkeley, California, the company sells quantum processing units (QPUs) and complete quantum computing systems, and offers access to its machines through a quantum-computing-as-a-service (QCaaS) cloud model. Its product lineup includes the Novera 5- and 9-qubit QPUs built on its fourth-generation Ankaa architecture, the multi-chip Cepheus system, and the 84-qubit Ankaa-3 quantum computer.
Beyond hardware, Rigetti generates revenue from its quantum cloud services platform, its QCS Outpost distributed software environment, Rigetti Foundry Services (which fabricates superconducting quantum chips for external research customers), and professional services covering algorithm development, benchmarking, and quantum software engineering. Its customers span commercial enterprises, U.S. and international government agencies, defense laboratories, national laboratories, and academic institutions, with operations across the United States, the United Kingdom, the rest of Europe, and Asia.
Rigetti operates within the broader quantum computing industry, which remains in an early commercialization phase, with superconducting qubits competing alongside other modalities such as trapped-ion, photonic, and neutral-atom approaches. The companys QCaaS and foundry service offerings reflect a business model increasingly common in the sector, where hardware vendors monetize access and integration rather than selling standalone machines, often supported by government and research funding alongside commercial contracts.
- DARPA quantum benchmarking contract milestones drive near-term revenue visibility
- Capital raises and ATM offerings dilute shareholders as cash burn continues
- Competition from IBM and Google intensifies in superconducting quantum systems
| Net Income: -238.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.14 > 0.02 and ΔFCF/TA -3.21 > 1.0 |
| NWC/Revenue: 2.32k% < 20% (prev 5.34k%; Δ -3.02k% < -1%) |
| CFO/TA -0.09 > 3% & CFO -60.7m > Net Income -238.7m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 3.94 > 1.5 & < 3 |
| Outstanding Shares: last quarter (333.2m) vs 12m ago 11.72% < -2% |
| Gross Margin: -2.73% > 18% (prev 40.57%; Δ -43.30% > 0.5%) |
| Asset Turnover: 2.08% > 50% (prev 1.24%; Δ 0.83% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.48 (Total Current Assets 414.4m - Total Current Liabilities 105.1m) / Total Assets 648.2m |
| B: -1.22 (Retained Earnings -790.5m / Total Assets 648.2m) |
| C: -0.37 (EBIT TTM -238.7m / Avg Total Assets 642.5m) |
| D: 4.85 (Book Value of Equity 537.4m / Total Liabilities 110.8m) |
| Altman-Z'' = 1.75 = BBB |
| DSRI: 1.31 (Receivables 3.87m/1.75m, Revenue 13.4m/7.92m) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 1.01 (AQ_t 0.23 / AQ_t-1 0.23) |
| SGI: 1.68 (Revenue 13.4m / 7.92m) |
| TATA: -0.27 (NI -238.7m - CFO -60.7m) / TA 648.2m) |
| Beneish M = -2.30 (Cap -4..+1) = BBB |
As of October 14, 2026, the stock is trading at USD 12.78 with a total of 14,966,259 shares traded. Over the past week, the price has changed by -15.75%, over one month by -16.31%, over three months by -16.80% and over the past year by -76.73%.
Current recommended Stop Loss: 11.70 (which is 8.5% or 1.3 ATR below the current price).
Rigetti Computing has received a consensus analysts rating of 4.31. Therefore, it is recommended to buy RGTI.
- StrongBuy: 8
- Buy: 1
- Hold: 4
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 28.5 | 123.2% |
P/S = 321.0709
P/B = 9.9398
Revenue TTM = 13.4m USD
EBIT TTM = -238.7m USD
EBITDA TTM = -228.7m USD
Long Term Debt = 5.04m USD (estimated: total debt 7.70m - short term 2.66m)
Short Term Debt = 2.66m USD (from shortTermDebt, last quarter)
Debt = 7.70m USD (from shortLongTermDebtTotal, last quarter) (leases 7.70m already included)
Net Debt = -386.0m USD (calculated: Debt 7.70m - CCE 393.7m)
Enterprise Value = 3.90b USD (4.29b + Debt 7.70m - CCE 393.7m)
Interest Coverage Ratio = unknown (Ebit TTM -238.7m / Interest Expense TTM 0.0)
EV/FCF = -44.54x (Enterprise Value 3.90b / FCF TTM -87.6m)
FCF Yield = -2.24% (FCF TTM -87.6m / Enterprise Value 3.90b)
FCF Margin = -655.9% (FCF TTM -87.6m / Revenue TTM 13.4m)
Net Margin = -1.79k% (Net Income TTM -238.7m / Revenue TTM 13.4m)
Gross Margin = -2.73% ((Revenue TTM 13.4m - Cost of Revenue TTM 13.7m) / Revenue TTM)
Gross Margin QoQ = 42.58% (prev -28.11%)
Tobins Q-Ratio = 6.02 (Enterprise Value 3.90b / Total Assets 648.2m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 7.70m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -188.6m (EBIT -238.7m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 3.94 (Total Current Assets 414.4m / Total Current Liabilities 105.1m)
Debt / Equity = 0.01 (Debt 7.70m / totalStockholderEquity, last quarter 537.4m)
Debt / EBITDA = 1.69 (negative EBITDA) (Net Debt -386.0m / EBITDA -228.7m)
Debt / FCF = 4.41 (negative FCF - burning cash) (Net Debt -386.0m / FCF TTM -87.6m)
Total Stockholder Equity = 509.8m (last 4 quarters mean from totalStockholderEquity)
RoA = -37.15% (Net Income -238.7m / Total Assets 648.2m)
RoE = -46.82% (Net Income TTM -238.7m / Total Stockholder Equity 509.8m)
RoCE = -46.36% (EBIT -238.7m / Capital Employed (Equity 509.8m + L.T.Debt 5.04m))
RoIC = -34.59% (negative operating profit) (NOPAT -188.6m / Invested Capital 545.2m)
WACC = 15.32% (E(4.29b)/V(4.29b) * Re(15.35%) + D(7.70m)/V(4.29b) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 15.35% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 92.48 | Cagr: 41.80%
[DCF] Fair Price = unknown (Cash Flow -87.6m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.47 | # QB: 0
Revenue Correlation: -56.36 | Revenue CAGR: -14.06% | SUE: 0.02 | # QB: 0
EPS current Quarter (2026-09-30): EPS=-0.05 | Chg30d=+0.00% | Revisions=+25% | Analysts=8
EPS current Year (2026-12-31): EPS=-0.19 | Chg30d=+1.06% | Revisions=+25% | GrowthEPS=-16.9% | GrowthRev=+228.1%
EPS next Year (2027-12-31): EPS=-0.21 | Chg30d=+0.96% | Revisions=+40% | GrowthEPS=-10.2% | GrowthRev=+88.8%
[Analyst] Revisions Ratio: +57% (up=4, down=0)