Rigetti Computing Inc Financials
This page shows Rigetti Computing Inc (RGTIW) financial statements, including the 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).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Rigetti Computing Inc has an operating margin of -1194.4%, meaning the company retains $-1194 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -634.9% the prior year.
Rigetti Computing Inc's revenue declined 34.3% year-over-year, from $10.8M to $7.1M. This contraction results in a growth score of 0/100.
Rigetti Computing Inc carries a low D/E ratio of 0.22, meaning only $0.22 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 98/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 37.42, Rigetti Computing Inc holds $37.42 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Rigetti Computing Inc generated -$58.5M in operating cash flow, capex of $18.7M consumed most of it, leaving -$77.2M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Rigetti Computing Inc generates a -39.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -158.8% the prior year.
Rigetti Computing Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Rigetti Computing Inc generates $0.27 in operating cash flow (-$58.5M OCF vs -$216.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
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. This represents an increase of 35.8% from the prior year.
Cash & Balance Sheet
Rigetti Computing Inc generated -$77.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 25.1% from the prior year.
Rigetti Computing Inc held $44.9M in cash against $0 in long-term debt as of fiscal year 2025.
Rigetti Computing Inc had 331M shares outstanding in fiscal year 2025. This represents an increase of 16.8% from the prior year.
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 operating margin was -1194.4% in fiscal year 2025, reflecting core business profitability. This is down 559.5 percentage points from the prior year.
Rigetti Computing Inc's net profit margin was -3050.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1187.7 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.
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.
RGTIW Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.9M-4.1% | $1.9M+8.1% | $1.8M+22.4% | $1.5M-35.3% | $2.3M-4.4% | $2.4M-22.9% | $3.1M+1.1% | $3.1M |
| Cost of Revenue | $1.2M-21.2% | $1.5M+24.9% | $1.2M+19.9% | $1.0M-19.0% | $1.3M+8.3% | $1.2M+7.1% | $1.1M-29.4% | $1.6M |
| Gross Profit | $652K+61.4% | $404K-28.6% | $566K+28.1% | $442K-55.9% | $1.0M-16.7% | $1.2M-39.5% | $2.0M+32.7% | $1.5M |
| R&D Expenses | $17.3M+15.5% | $15.0M+11.1% | $13.5M-12.5% | $15.5M+13.2% | $13.7M+7.1% | $12.8M+7.4% | $11.9M+3.5% | $11.5M |
| SG&A Expenses | $5.9M-0.5% | $5.9M-14.3% | $6.9M+4.6% | $6.6M+13.3% | $5.8M+0.7% | $5.8M-6.6% | $6.2M-6.2% | $6.6M |
| Operating Income | -$22.6M-10.0% | -$20.5M-3.4% | -$19.9M+8.1% | -$21.6M-17.0% | -$18.5M-6.6% | -$17.3M-7.8% | -$16.1M+3.0% | -$16.6M |
| Interest Expense | N/A | N/A | N/A | N/A | $446K-39.2% | $733K-24.4% | $969K-12.5% | $1.1M |
| Income Tax | N/A | N/A | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$18.2M+90.9% | -$201.0M-406.8% | -$39.7M-193.0% | $42.6M+127.9% | -$153.0M-931.2% | -$14.8M-19.4% | -$12.4M+40.2% | -$20.8M |
| EPS (Diluted) | N/A | $-0.62-376.9% | $-0.13-200.0% | $0.13 | N/A | $-0.08-14.3% | $-0.07+50.0% | $-0.14 |
RGTIW Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $666.6M+5.8% | $630.3M-1.0% | $636.7M+136.6% | $269.1M-5.5% | $284.8M+81.1% | $157.3M-3.2% | $162.4M+0.2% | $162.1M |
| Current Assets | $454.8M-0.3% | $456.3M+5.2% | $433.6M+102.3% | $214.4M+3.7% | $206.8M+99.1% | $103.9M-5.3% | $109.7M-0.3% | $110.0M |
| Cash & Equivalents | $44.9M+71.6% | $26.1M-54.3% | $57.2M+53.9% | $37.2M-45.1% | $67.7M+233.6% | $20.3M-1.9% | $20.7M-41.1% | $35.1M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $2.6M+12.0% | $2.3M+29.9% | $1.8M+64.1% | $1.1M-56.0% | $2.4M-62.0% | $6.4M+22.0% | $5.2M+11.2% | $4.7M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $120.4M-53.4% | $258.4M+209.8% | $83.4M+34.5% | $62.0M-60.8% | $158.2M+359.7% | $34.4M-14.5% | $40.3M-13.5% | $46.5M |
| Current Liabilities | $12.2M+4.5% | $11.6M+11.5% | $10.4M-8.4% | $11.4M-4.0% | $11.9M-44.7% | $21.5M-16.1% | $25.6M+2.8% | $24.9M |
| Long-Term Debt | N/A | N/A | N/A | N/A | $0-100.0% | $2.1M-38.7% | $3.4M-48.2% | $6.5M |
| Total Equity | $546.2M+46.9% | $371.8M-32.8% | $553.3M+167.1% | $207.1M+63.6% | $126.6M+3.1% | $122.8M+0.6% | $122.2M+5.7% | $115.6M |
| Retained Earnings | -$771.0M-2.4% | -$752.8M-36.4% | -$551.8M-7.7% | -$512.1M+7.7% | -$554.7M-38.1% | -$401.8M-3.8% | -$387.0M-3.3% | -$374.5M |
RGTIW Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$14.9M-7.8% | -$13.8M+14.5% | -$16.2M-18.4% | -$13.7M-59.8% | -$8.5M+44.6% | -$15.4M-14.1% | -$13.5M-2.9% | -$13.1M |
| Capital Expenditures | $4.6M-22.3% | $5.9M+3.9% | $5.7M+122.5% | $2.5M+98.7% | $1.3M-43.7% | $2.3M+11.4% | $2.0M-62.8% | $5.5M |
| Free Cash Flow | -$19.5M+1.2% | -$19.7M+9.7% | -$21.8M-34.8% | -$16.2M-64.8% | -$9.8M+44.5% | -$17.7M-13.8% | -$15.6M+16.5% | -$18.6M |
| Investing Cash Flow | -$13.6M+31.8% | -$20.0M+94.2% | -$346.1M-1366.1% | -$23.6M+69.6% | -$77.6M-1338.5% | $6.3M+147.3% | -$13.3M-313.1% | $6.2M |
| Financing Cash Flow | $47.2M+1574.6% | $2.8M-99.3% | $382.2M+5410.6% | $6.9M-94.8% | $133.7M+1437.9% | $8.7M-29.8% | $12.4M-40.2% | $20.7M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
RGTIW Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 34.9%+14.1pp | 20.8%-10.7pp | 31.4%+1.4pp | 30.0%-14.1pp | 44.1%-6.5pp | 50.6%-13.9pp | 64.5%+15.3pp | 49.1% |
| Operating Margin | -1209.7%-154.3pp | -1055.4%+48.5pp | -1103.9%+365.6pp | -1469.6%-656.3pp | -813.3%-83.8pp | -729.4%-208.2pp | -521.2%+22.2pp | -543.4% |
| Net Margin | -974.7%+9347.3pp | -10321.9%-8120.2pp | -2201.8%-5097.1pp | 2895.3%+9621.8pp | -6726.5%-6102.8pp | -623.8%-221.3pp | -402.5%+278.1pp | -680.6% |
| Return on Equity | -3.3%+50.7pp | -54.0%-46.9pp | -7.2%-27.8pp | 20.6%+141.4pp | -120.8%-108.7pp | -12.1%-1.9pp | -10.2%+7.8pp | -18.0% |
| Return on Assets | -2.7%+29.2pp | -31.9%-25.7pp | -6.2%-22.1pp | 15.8%+69.5pp | -53.7%-44.3pp | -9.4%-1.8pp | -7.6%+5.2pp | -12.8% |
| Current Ratio | 37.42-1.8 | 39.22-2.3 | 41.57+22.8 | 18.82+1.4 | 17.42+12.6 | 4.84+0.6 | 4.29-0.1 | 4.42 |
| Debt-to-Equity | 0.22-0.5 | 0.70+0.5 | 0.15-0.1 | 0.30+0.3 | 0.00-0.0 | 0.02-0.0 | 0.03-0.0 | 0.06 |
| FCF Margin | -1042.5%-30.1pp | -1012.4%+200.1pp | -1212.4%-112.0pp | -1100.4%-668.3pp | -432.1%+312.4pp | -744.5%-240.3pp | -504.3%+106.2pp | -610.5% |
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Frequently Asked Questions
What is Rigetti Computing Inc's annual revenue?
Rigetti Computing Inc (RGTIW) 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 (RGTIW) 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 (RGTIW) reported a net income of -$216.2M in fiscal year 2025, with a net profit margin of -3050.4%.
What is Rigetti Computing Inc's EBITDA?
Rigetti Computing Inc (RGTIW) 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 (RGTIW) 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 operating margin?
Rigetti Computing Inc (RGTIW) had an operating margin of -1194.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Rigetti Computing Inc's net profit margin?
Rigetti Computing Inc (RGTIW) had a net profit margin of -3050.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Rigetti Computing Inc's return on equity (ROE)?
Rigetti Computing Inc (RGTIW) 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 (RGTIW) generated -$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 (RGTIW) generated -$58.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Rigetti Computing Inc's total assets?
Rigetti Computing Inc (RGTIW) 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 (RGTIW) 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 (RGTIW) invested $61.3M in research and development during fiscal year 2025.
What is Rigetti Computing Inc's current ratio?
Rigetti Computing Inc (RGTIW) 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 (RGTIW) 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 (RGTIW) 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 cash runway?
Based on fiscal year 2025 data, Rigetti Computing Inc (RGTIW) had $44.9M in cash against an annual operating cash burn of $58.5M. This gives an estimated cash runway of approximately 9 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Rigetti Computing Inc's Piotroski F-Score?
Rigetti Computing Inc (RGTIW) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. 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 7–9 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 (RGTIW) has an earnings quality ratio of 0.27x, considered low quality (accrual-driven). 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 (RGTIW) scores 33 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.