Rigetti Computing Inc Financials
Rigetti Computing Inc (RGTI) reported $13.4M in revenue over the twelve months to Jun 30, 2026, up 68.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Development-stage spending and equity financing dominate a business whose revenue base remains too small to absorb its investment structure.
Accounting losses and cash outflows diverge sharply: in FY2024 and FY2025, net losses reached-$201.0M and-$216.2M , while operating cash outflows were-$50.6M and-$58.5M . That gap indicates that reported earnings include substantial charges that do not consume operating cash in the same period, so net income alone overstates the cash usage of the operating business.
Revenue contraction coincided with severe margin compression. Gross margin fell from
The balance sheet expanded through financing and investment flows rather than operating generation. FY2025 financing cash flow was
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Rigetti Computing Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Rigetti Computing Inc scores 24.82, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($5.2B) relative to total liabilities ($120.4M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Rigetti Computing Inc passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Rigetti Computing Inc reported a net loss of $216.2M while operations used $58.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Rigetti Computing Inc generated $7.1M in revenue in fiscal year 2025. This represents a decrease of 34.3% from the prior year.
Rigetti Computing Inc's EBITDA was -$76.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 24.3% from the prior year.
Rigetti Computing Inc reported -$216.2M in net income in fiscal year 2025. This represents a decrease of 7.6% from the prior year.
Rigetti Computing Inc earned -$0.70 per diluted share (EPS) in fiscal year 2025.
Cash & Balance Sheet
Rigetti Computing Inc recorded an outflow of $77.2M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 25.1% from the prior year.
Rigetti Computing Inc held $44.9M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Rigetti Computing Inc's gross margin was 29.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 23.7 percentage points from the prior year.
Rigetti Computing Inc's ROE was -39.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 119.2 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Rigetti Computing Inc invested $61.3M in research and development in fiscal year 2025. This represents an increase of 23.3% from the prior year.
Rigetti Computing Inc invested $18.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 68.3% from the prior year.
Not reported for fiscal year 2025.
RGTI Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.1M+16.8% | $4.4M+135.5% | $1.9M-4.1% | $1.9M+8.1% | $1.8M+22.4% | $1.5M-35.3% | $2.3M-4.4% | $2.4M |
| Cost of Revenue | $3.0M-2.4% | $3.0M+148.5% | $1.2M-21.2% | $1.5M+24.9% | $1.2M+19.9% | $1.0M-19.0% | $1.3M+8.3% | $1.2M |
| Gross Profit | $2.2M+58.8% | $1.4M+111.3% | $652K+61.4% | $404K-28.6% | $566K+28.1% | $442K-55.9% | $1.0M-16.7% | $1.2M |
| R&D Expenses | $20.7M+3.9% | $20.0M+15.0% | $17.3M+15.5% | $15.0M+11.1% | $13.5M-12.5% | $15.5M+13.2% | $13.7M+7.1% | $12.8M |
| SG&A Expenses | $9.5M+29.2% | $7.4M+24.9% | $5.9M-0.5% | $5.9M-14.3% | $6.9M+4.6% | $6.6M+13.3% | $5.8M+0.7% | $5.8M |
| Operating Income | -$28.1M-8.1% | -$26.0M-14.8% | -$22.6M-10.0% | -$20.5M-3.4% | -$19.9M+8.1% | -$21.6M-17.0% | -$18.5M-6.6% | -$17.3M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | $446K-39.2% | $733K |
| Income Tax | N/A | N/A | N/A | N/A | $0 | $0 | $0 | $0 |
| Net Income | -$52.6M-258.9% | $33.1M+281.8% | -$18.2M+90.9% | -$201.0M-406.8% | -$39.7M-193.0% | $42.6M+127.9% | -$153.0M-931.2% | -$14.8M |
| EPS (Diluted) | -$0.16-166.7% | -$0.06-20.0% | -$0.05+91.9% | -$0.62-376.9% | -$0.13-200.0% | $0.13 | -$0.81-912.5% | -$0.08 |
RGTI Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $648.2M-0.4% | $650.7M-2.4% | $666.6M+5.8% | $630.3M-1.0% | $636.7M+136.6% | $269.1M-5.5% | $284.8M+81.1% | $157.3M |
| Current Assets | $414.4M-4.1% | $432.2M-5.0% | $454.8M-0.3% | $456.3M+5.2% | $433.6M+102.3% | $214.4M+3.7% | $206.8M+99.1% | $103.9M |
| Cash & Equivalents | $27.8M-42.3% | $48.1M+7.3% | $44.9M+71.6% | $26.1M-54.3% | $57.2M+53.9% | $37.2M-45.1% | $67.7M+233.6% | $20.3M |
| Accounts Receivable | $3.9M-11.7% | $4.4M+71.5% | $2.6M+12.0% | $2.3M+29.9% | $1.8M+64.1% | $1.1M-56.0% | $2.4M-62.0% | $6.4M |
| Total Liabilities | $110.8M+65.2% | $67.1M-44.3% | $120.4M-53.4% | $258.4M+209.8% | $83.4M+34.5% | $62.0M-60.8% | $158.2M+359.7% | $34.4M |
| Current Liabilities | $105.1M+69.8% | $61.9M+409.2% | $12.2M+4.5% | $11.6M+11.5% | $10.4M-8.4% | $11.4M-4.0% | $11.9M-44.7% | $21.5M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% | $2.1M |
| Total Equity | $537.4M-7.9% | $583.6M+6.8% | $546.2M+46.9% | $371.8M-32.8% | $553.3M+167.1% | $207.1M+63.6% | $126.6M+3.1% | $122.8M |
| Retained Earnings | -$790.5M-7.1% | -$737.8M+4.3% | -$771.0M-2.4% | -$752.8M-36.4% | -$551.8M-7.7% | -$512.1M+7.7% | -$554.7M-38.1% | -$401.8M |
Not reported in any period shown, so not listed: Inventory, Goodwill.
RGTI Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$15.8M+2.7% | -$16.2M-8.8% | -$14.9M-7.8% | -$13.8M+14.5% | -$16.2M-18.4% | -$13.7M-59.8% | -$8.5M+44.6% | -$15.4M |
| Capital Expenditures | $12.0M+171.9% | $4.4M-3.5% | $4.6M-22.3% | $5.9M+3.9% | $5.7M+122.5% | $2.5M+98.7% | $1.3M-43.7% | $2.3M |
| Free Cash Flow | -$27.8M-34.6% | -$20.6M-5.9% | -$19.5M+1.2% | -$19.7M+9.7% | -$21.8M-34.8% | -$16.2M-64.8% | -$9.8M+44.5% | -$17.7M |
| Investing Cash Flow | -$4.8M-124.3% | $19.8M+245.4% | -$13.6M+31.8% | -$20.0M+94.2% | -$346.1M-1366.1% | -$23.6M+69.6% | -$77.6M-1338.5% | $6.3M |
| Financing Cash Flow | $398K+391.4% | $81K-99.8% | $47.2M+1574.6% | $2.8M-99.3% | $382.2M+5410.6% | $6.9M-94.8% | $133.7M+1437.9% | $8.7M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
RGTI Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.6%+11.3pp | 31.3%-3.6pp | 34.9%+14.1pp | 20.8%-10.7pp | 31.4%+1.4pp | 30.0%-14.1pp | 44.1%-6.5pp | 50.6% |
| Operating Margin | -546.2% | -589.8% | -1209.7% | -1055.4% | -1103.9% | -1469.6% | -813.3% | -729.4% |
| Net Margin | -1023.9% | 752.5% | -974.7% | -10321.9% | -2201.8% | 2895.3% | -6726.5% | -623.8% |
| Return on Equity | -9.8%-15.5pp | 5.7%+9.0pp | -3.3%+50.7pp | -54.0%-46.9pp | -7.2%-27.8pp | 20.6%+141.4pp | -120.8%-108.8pp | -12.1% |
| Return on Assets | -8.1%-13.2pp | 5.1%+7.8pp | -2.7%+29.2pp | -31.9%-25.7pp | -6.2%-22.1pp | 15.8%+69.5pp | -53.7%-44.3pp | -9.4% |
| Current Ratio | 3.94-3.0x | 6.98-30.4x | 37.42-1.8x | 39.22-2.3x | 41.57+22.8x | 18.82+1.4x | 17.42+12.6x | 4.84 |
| Debt-to-Equity | 0.21+0.1x | 0.12-0.1x | 0.22-0.5x | 0.70+0.5x | 0.15-0.1x | 0.30+0.3x | 0.000.0x | 0.02 |
| FCF Margin | -540.5% | -468.8% | -1042.5% | -1012.4% | -1212.4% | -1100.4% | -432.1% | -744.5% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where Rigetti Computing Inc Ranks
Frequently Asked Questions
What is Rigetti Computing Inc's annual revenue?
Rigetti Computing Inc (RGTI) reported $7.1M in total revenue for fiscal year 2025. This represents a -34.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Rigetti Computing Inc's revenue growing?
Rigetti Computing Inc (RGTI) revenue declined by 34.3% year-over-year, from $10.8M to $7.1M in fiscal year 2025.
Is Rigetti Computing Inc profitable?
No, Rigetti Computing Inc (RGTI) reported a net income of -$216.2M in fiscal year 2025.
What is Rigetti Computing Inc's EBITDA?
Rigetti Computing Inc (RGTI) had EBITDA of -$76.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Rigetti Computing Inc's gross margin?
Rigetti Computing Inc (RGTI) had a gross margin of 29.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Rigetti Computing Inc's return on equity (ROE)?
Rigetti Computing Inc (RGTI) has a return on equity of -39.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Rigetti Computing Inc's free cash flow?
Rigetti Computing Inc (RGTI) recorded an outflow of $77.2M in free cash flow during fiscal year 2025. This represents a -25.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Rigetti Computing Inc's operating cash flow?
Rigetti Computing Inc (RGTI) recorded an outflow of $58.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Rigetti Computing Inc's total assets?
Rigetti Computing Inc (RGTI) had $666.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Rigetti Computing Inc's capital expenditures?
Rigetti Computing Inc (RGTI) invested $18.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Rigetti Computing Inc spend on research and development?
Rigetti Computing Inc (RGTI) invested $61.3M in research and development during fiscal year 2025.
What is Rigetti Computing Inc's current ratio?
Rigetti Computing Inc (RGTI) had a current ratio of 37.42 as of fiscal year 2025, which is generally considered healthy.
What is Rigetti Computing Inc's debt-to-equity ratio?
Rigetti Computing Inc (RGTI) had a debt-to-equity ratio of 0.22 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Rigetti Computing Inc's return on assets (ROA)?
Rigetti Computing Inc (RGTI) had a return on assets of -32.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Rigetti Computing Inc's Altman Z-Score?
Rigetti Computing Inc (RGTI) has an Altman Z-Score of 24.82, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Rigetti Computing Inc's Piotroski F-Score?
Rigetti Computing Inc (RGTI) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Rigetti Computing Inc's earnings high quality?
Rigetti Computing Inc (RGTI) reported a net loss of $216.2M while operations used $58.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Rigetti Computing Inc?
Rigetti Computing Inc (RGTI) scores 58 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.