RGTI Stock Analysis: Rigetti Computing | NASDAQ
Computer Hardware | NASDAQ, USA | Market Cap: 3.708m USD | 12M Return: -63.5% | US76655K1034 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 175M
Qual. Beats: 0
Rev. Trend: -24.3%
Qual. Beats: -1
Warnings
Tailwinds
No distinct edge detected
Seasonality 5.6 years of data, until 10/2026
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 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: -40.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.18 > 0.02 and ΔFCF/TA -7.09 > 1.0 |
| NWC/Revenue: 2.57k% < 20% (prev 5.93k%; Δ -3.36k% < -1%) |
| CFO/TA -0.10 > 3% & CFO -64.0m > Net Income -40.8m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 5.29 > 1.5 & < 3 |
| Outstanding Shares: last quarter (338.9m) vs 12m ago 4.27% < -2% |
| Gross Margin: 0.69% > 18% (prev 32.23%; Δ -31.54% > 0.5%) |
| Asset Turnover: 2.04% > 50% (prev 1.19%; Δ 0.85% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.53 (Total Current Assets 406.6m - Total Current Liabilities 76.8m) / Total Assets 623.9m |
| B: -1.27 (Retained Earnings -793.6m / Total Assets 623.9m) |
| C: -0.07 (EBIT TTM -40.8m / Avg Total Assets 627.1m) |
| D: 6.61 (Book Value of Equity 542.0m / Total Liabilities 82.0m) |
| Altman-Z'' = 5.83 = AAA |
| DSRI: 1.00 (Receivables 3.89m/2.28m, Revenue 12.8m/7.49m) |
| GMI: 46.94 (GM 32.23% / 0.69%) |
| AQI: 1.10 (AQ_t 0.20 / AQ_t-1 0.18) |
| SGI: 1.71 (Revenue 12.8m / 7.49m) |
| TATA: 0.04 (NI -40.8m - CFO -64.0m) / TA 623.9m) |
| Beneish M = 39.17 (Cap -4..+1) = D |
As of November 13, 2026, the stock is trading at USD 10.33 with a total of 18,052,756 shares traded. Over the past week, the price has changed by +4.87%, over one month by -22.04%, over three months by -43.92% and over the past year by -63.50%.
Current recommended Stop Loss: 9.00 (which is 12.9% or 1.2 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 | 22.8 | 120.5% |
P/S = 289.3166
P/B = 7.5457
Revenue TTM = 12.8m USD
EBIT TTM = -40.8m USD
EBITDA TTM = -28.7m USD
Long Term Debt = 4.46m USD (estimated: total debt 7.22m - short term 2.75m)
Short Term Debt = 2.75m USD (from shortTermDebt, last quarter)
Debt = 7.22m USD (from shortLongTermDebtTotal, last quarter) (leases 7.22m already included)
Net Debt = -376.1m USD (calculated: Debt 7.22m - CCE 383.3m)
Enterprise Value = 3.33b USD (3.71b + Debt 7.22m - CCE 383.3m)
Interest Coverage Ratio = unknown (Ebit TTM -40.8m / Interest Expense TTM 0.0)
EV/FCF = -29.98x (Enterprise Value 3.33b / FCF TTM -111.1m)
FCF Yield = -3.34% (FCF TTM -111.1m / Enterprise Value 3.33b)
FCF Margin = -867.1% (FCF TTM -111.1m / Revenue TTM 12.8m)
Net Margin = -318.6% (Net Income TTM -40.8m / Revenue TTM 12.8m)
Gross Margin = 0.69% ((Revenue TTM 12.8m - Cost of Revenue TTM 12.7m) / Revenue TTM)
Gross Margin QoQ = 60.74% (prev 42.58%)
Tobins Q-Ratio = 5.34 (Enterprise Value 3.33b / Total Assets 623.9m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 7.22m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -32.3m (EBIT -40.8m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 5.29 (Total Current Assets 406.6m / Total Current Liabilities 76.8m)
Debt / Equity = 0.01 (Debt 7.22m / totalStockholderEquity, last quarter 542.0m)
Debt / EBITDA = 13.10 (negative EBITDA) (Net Debt -376.1m / EBITDA -28.7m)
Debt / FCF = 3.38 (negative FCF - burning cash) (Net Debt -376.1m / FCF TTM -111.1m)
Total Stockholder Equity = 552.3m (last 4 quarters mean from totalStockholderEquity)
RoA = -6.51% (Net Income -40.8m / Total Assets 623.9m)
RoE = -7.39% (Net Income TTM -40.8m / Total Stockholder Equity 552.3m)
RoCE = -7.34% (EBIT -40.8m / Capital Employed (Equity 552.3m + L.T.Debt 4.46m))
RoIC = -5.87% (negative operating profit) (NOPAT -32.3m / Invested Capital 549.2m)
WACC = 15.09% (E(3.71b)/V(3.72b) * Re(15.12%) + D(7.22m)/V(3.72b) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 15.12% (= CAPM, Blume Beta Adj.) -> capped to 12.54%
Shares (quarterly) Correlation: 88.98 | Cagr: 35.21%
[DCF] Fair Price = unknown (Cash Flow -111.1m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.05 | # QB: 0
Revenue Correlation: -24.27 | Revenue CAGR: -5.96% | SUE: -4.0 | # QB: -1
EPS current Quarter (2027-03-31): EPS=-0.06 | Chg30d=-7.37% | Revisions=-25% | Analysts=6
EPS current Year (2026-12-31): EPS=-0.22 | Chg30d=-16.74% | Revisions=+25% | GrowthEPS=-36.5% | GrowthRev=+184.4%
EPS next Year (2027-12-31): EPS=-0.23 | Chg30d=-9.71% | Revisions=+40% | GrowthEPS=-3.5% | GrowthRev=+115.6%
[Analyst] Revisions Ratio: +29% (up=3, down=1)