Rigetti Computing AI Stock Analysis
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Rigetti Computing (RGTI) AI Stock Analysis
Rigetti Computing
(NASDAQ:RGTI)
The score is held down primarily by weak financial performance (large losses and ongoing cash burn) and bearish technicals (price below key moving averages with negative MACD). Offsetting these are a strong balance sheet/liquidity position and a more constructive earnings-call backdrop driven by technical milestones and major government funding, though execution and timing risks remain significant.
Rigetti Computing Key Performance Indicators (KPIs)
Revenue by GeographyBreaks down sales across regions (for example U.S., Europe, Asia), revealing where Rigetti’s customers and demand are concentrated. High concentration in a single region can indicate reliance on local government or research budgets, while broader geographic revenue suggests more diversified commercial adoption and growth opportunities.
Revenue is heavily U.S.-centric but volatile quarter-to-quarter, while Europe exhibits extreme lumpiness — a very large late-2025 inflow followed immediately by a large negative swing — suggesting one-off contract recognition/reversal or an accounting adjustment rather than sustainable market traction. Asia and Other remain immaterial. For investors this signals concentration and execution risk: reported growth may be driven by sporadic deals or billing adjustments, so scrutinize footnotes and cash receipts in upcoming filings to tell real demand from accounting noise.
The FlyRigetti Computing (RGTI) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $3.71B
- Dividend Yield
- ―
- Average Volume (3M)
- 16.21M
- Price to Earnings (P/E)
- -88.8
- Beta (1Y)
- 2.82
- Revenue Growth
- 71.03%
- EPS Growth
- 90.40%
- Country
- US
- Employees
- 163
- Sector
- Technology
- Sector Strength
- 61
- Industry
- Computer Hardware
Rigetti Computing Business Overview & Revenue Model
Company Description
Rigetti Computing, Inc. operates as a full-stack quantum computing enterprise. This company develops and manufactures both quantum computers and the crucial superconducting quantum processors that enable their operation. Its sophisticated machines ar...
Rigetti Computing Earnings Call Summary
The call was predominantly positive, supported by the 99.5% two-qubit gate fidelity milestone, progress toward larger systems, a definitive $100 million Department of Commerce agreement, 110% year-to-date revenue growth, improved gross margin, and substantial liquidity with no debt. However, the quarter also included a 26% year-over-year decline in quarterly revenue, substantially higher operating expenses, a wider operating loss, cash usage, elevated capital expenditures, and continued technical and commercial hurdles before quantum computing reaches broad commercial adoption.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
For full year 2026, we expect revenue of approximately $20 million, assuming customer acceptance of the C-DAC system in the fourth quarter and recognition of the associated revenue in that period. CapEx in 2027 is expected to be relatively consistent with what you've seen here in 2026 and closer to where we're at this year than 2025 and 2024. The next major system objective is a 300-plus qubit system with approximately 99.7% median two-qubit gate fidelity and gate speeds below 60 nanoseconds by mid-2028, also described as sub -60 nanosecond gate speed and, in closing remarks, gate speeds below 50 nanoseconds by mid-2028; in about 3 years, Rigetti aims to deploy a system with approximately 1,000 qubits, 99.9% median two-qubit gate fidelity, gate speeds below 50 nanoseconds and integrated error correction and mitigation.
Rigetti Computing Financial Statement Overview
Summary
Balance sheet strength (low debt and large equity/cash base) is a clear positive, but it is outweighed by very weak profitability (large net losses vs. small revenue) and continued cash burn with negative operating cash flow and negative free cash flow.
Income Statement
18Very NegativeBalance Sheet
72PositiveCash Flow
26Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.35M | 7.09M | 10.79M | 12.01M | 13.10M | 8.20M |
| Gross Profit | -365.00K | -6.11M | 5.70M | 9.21M | 10.23M | 1.92M |
| EBITDA | -228.74M | -208.04M | -190.83M | -61.90M | -59.22M | -31.13M |
| Net Income | -238.67M | -216.21M | -200.99M | -75.11M | -71.52M | -38.24M |
Balance Sheet | ||||||
| Total Assets | 648.23M | 666.57M | 284.79M | 159.91M | 203.44M | 46.43M |
| Cash, Cash Equivalents and Short-Term Investments | 393.71M | 443.51M | 192.09M | 99.93M | 142.81M | 11.73M |
| Total Debt | 7.70M | 7.17M | 8.80M | 30.57M | 39.14M | 24.79M |
| Total Liabilities | 110.80M | 120.38M | 158.20M | 50.33M | 53.22M | 36.43M |
| Stockholders Equity | 537.43M | 546.20M | 126.59M | 109.59M | 150.22M | 9.99M |
Cash Flow | ||||||
| Free Cash Flow | -87.58M | -77.22M | -61.73M | -59.64M | -85.43M | -36.30M |
| Operating Cash Flow | -60.72M | -58.54M | -50.63M | -50.58M | -62.69M | -29.29M |
| Investing Cash Flow | -18.61M | -403.33M | -78.36M | 773.00K | -107.02M | -7.01M |
| Financing Cash Flow | 50.47M | 439.09M | 175.46M | 13.23M | 215.45M | 25.83M |
Rigetti Computing Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RGTI, the sentiment is Negative. The current price of 11.11 is below the 20-day moving average (MA) of 11.66, below the 50-day MA of 13.76, and below the 200-day MA of 16.67, indicating a bearish trend. The MACD of -0.64 indicates Negative momentum. The RSI at 42.93 is Neutral, neither overbought nor oversold. The STOCH value of 71.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RGTI.
Rigetti Computing Risk Analysis
Rigetti Computing disclosed 60 risk factors in its most recent earnings report. Rigetti Computing reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
3 New RisksRigetti Computing Peers Comparison
Overall Rating
IONQ63Neutral
QNT57Neutral- RGTI50Neutral
QUBT49Neutral
QBTS47Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| IONQ | 63Neutral | $15.13B | 47.97 | 4.80% | ― | 376.53% | ― |
| Sector * | 61Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
| QNT | 57Neutral | $11.15B | -14.13 | -61.55% | ― | ― | ― |
| RGTI | 50Neutral | $4.06B | -88.81 | -7.39% | ― | 71.03% | 90.40% |
| QUBT | 49Neutral | $1.43B | -41.24 | -2.04% | ― | 3368.86% | 75.45% |
| QBTS | 47Neutral | $3.98B | -24.77 | -15.32% | ― | -45.33% | 68.30% |
* Technology Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| RGTI | Rigetti Computing Inc. | 11.11 | -14.09 | -55.91% | |
| QUBT | Quantum Computing | 6.17 | -3.86 | -38.48% | |
| IONQ | Ionq, Inc. | 34.06 | -11.34 | -24.98% | |
| QBTS | D-Wave Quantum Inc. | 10.65 | -12.74 | -54.47% | |
| INFQ | Infleqtion, Inc. | 9.42 | -6.64 | -41.34% | |
| QNT | Quantinuum | 40.57 | -19.81 | -32.81% |
Rigetti Computing Corporate Events
Rigetti Wins Major CHIPS Act Quantum Funding Award
PositiveOn September 4, 2026, Rigetti Computing’s subsidiary Rigetti & Co, LLC entered into a definitive Other Transaction Agreement with the U.S. Department of Commerce for up to $100 million in CHIPS Act funding to accelerate superconducting quantum comput...
Rigetti Computing Announces Upcoming Board Member Resignation
NeutralOn August 19, 2026, Rigetti Computing, Inc. announced that Board member Dr. Ray Johnson had submitted his resignation from the Board, effective August 28, 2026. The company stated that Dr. Johnson’s departure was not the result of any disagreement ov...
Rigetti Computing Restructures Leadership for Quantum Systems Growth
PositiveOn August 18 and 19, 2026, Rigetti Computing reshaped its operating model to support growing demand for on-premises quantum systems. The company established a dedicated Systems Delivery organization and elevated operational leadership to sharpen focu...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Nov 12, 2026