Rigetti Computing, Inc., through its subsidiaries, builds and operates quantum computers and the superconducting quantum processors the United States, the United Kingdom, rest of Europe, Asia, and internationally. The company offers quantum processing units (QPUs) and quantum computing systems to provide access to quantum computing systems through the cloud in the form of quantum computing as a service (QCaaS). It provides Novera, a 9-qubit chip QPU that features tunable couplers for fast two-qubit operations and a 5-qubit chip for testing single-qubit operations; Novera QPU that is based in fourth generation Ankaa-class architecture; 36-qubit Cepheus-1-36Q system, a multi-chip quantum computer; and 84-qubit Ankaa-3 quantum computer. The company also sells access to its quantum computers through QCaaS. In addition, the company offers Rigetti quantum cloud services, a platform that provides support for various range of programming capabilities, public or private clouds integration, and connectivity, as well as quantum operating system software that supports public and private cloud architectures. Further, it offers QCS Outpost, a distributed software environment for operating, administering, and monitoring the overall system; Rigetti Foundry Services that delivers superconducting quantum chips to advance and accelerate quantum information science and technology research and development; and professional services, such as algorithm development, benchmarking, quantum application programming, and software development. The company serves commercial enterprises, government organizations, and international government entities, as well as academia, defense laboratories, and national laboratories. Rigetti Computing, Inc. was founded in 2013 and is headquartered in Berkeley, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $7M | $-208M | $-216M | $-77M | -39.6% | -34.3% | 7.6% |
| 2024 | $11M | $-191M | $-201M | $-62M | -158.8% | -10.1% | 167.6% |
| 2023 | $12M | $-62M | $-75M | $-60M | -68.5% | -8.3% | 5.0% |
| 2022 | $13M | $-59M | $-72M | $-85M | -47.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 13.10 | 12.01 | 10.79 | 7.09 |
| Operating Revenue | 13.10 | 12.01 | 10.79 | 7.09 |
| Cost Of Revenue | 2.87 | 2.80 | 5.09 | 5.02 |
| Gross Profit | 10.23 | 9.21 | 5.70 | 2.06 |
| Operating Expense | 113.93 | 80.51 | 74.21 | 86.72 |
| Research And Development | 59.95 | 52.77 | 49.75 | 61.34 |
| Selling General And Administration | 53.98 | 27.74 | 24.46 | 25.38 |
| Total Expenses | 116.80 | 83.31 | 79.30 | 91.75 |
| Operating Income | -103.70 | -71.30 | -68.51 | -84.66 |
| Total Operating Income As Reported | -109.08 | -72.30 | -68.51 | -84.66 |
| EBITDA | -59.22 | -61.90 | -190.83 | -208.04 |
| Normalized EBITDA | -94.25 | -58.80 | -56.49 | -59.93 |
| EBIT | -66.24 | -69.33 | -197.73 | -216.21 |
| Interest Income | 2.43 | 5.08 | 5.11 | 16.56 |
| Interest Expense | 5.29 | 5.78 | 3.26 | 0 |
| Net Interest Income | -2.85 | -0.70 | 1.86 | 16.56 |
| Other Income Expense | 35.03 | -3.10 | -134.34 | -148.11 |
| Interest Income Non Operating | 2.43 | 5.08 | 5.11 | 16.56 |
| Interest Expense Non Operating | 5.29 | 5.78 | 3.26 | 0 |
| Net Non Operating Interest Income Expense | -2.85 | -0.70 | 1.86 | 16.56 |
| Pretax Income | -71.52 | -75.11 | -200.99 | -216.21 |
| Tax Provision | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | -71.52 | -75.11 | -200.99 | -216.21 |
| Net Income From Continuing And Discontinued Operation | -71.52 | -75.11 | -200.99 | -216.21 |
| Net Income From Continuing Operation Net Minority Interest | -71.52 | -75.11 | -200.99 | -216.21 |
| Net Income | -71.52 | -75.11 | -200.99 | -216.21 |
| Net Income Common Stockholders | -71.52 | -75.11 | -200.99 | -216.21 |
| Net Income Including Noncontrolling Interests | -71.52 | -75.11 | -200.99 | -216.21 |
| Normalized Income | -106.56 | -72.01 | -66.65 | -68.10 |
| Diluted NI Availto Com Stockholders | -71.52 | -75.11 | -200.99 | -216.21 |
| Basic Average Shares | 102.30 | 131.98 | 184.67 | 309.76 |
| Diluted Average Shares | 102.30 | 131.98 | 184.67 | 309.76 |
| Reconciled Depreciation | 7.02 | 7.43 | 6.91 | 8.17 |
| Reconciled Cost Of Revenue | 2.87 | 2.80 | 5.09 | 5.02 |
| Total Unusual Items | 35.03 | -3.10 | -134.34 | -148.11 |
| Total Unusual Items Excluding Goodwill | 35.03 | -3.10 | -134.34 | -148.11 |
| Special Income Charges | 12.90 | -1.94 | -44.17 | 2.52 |
| Other Special Charges | - | - | 0.43 | - |
| Impairment Of Capital Assets | 5.38 | 0 | - | - |
| Restructuring And Mergern Acquisition | -18.28 | 1.94 | 43.74 | -2.52 |
| Gain On Sale Of Security | 22.13 | -1.16 | -90.17 | -150.63 |
| General And Administrative Expense | 47.63 | - | - | - |
| Other Gand A | 47.63 | - | - | - |
| Selling And Marketing Expense | 6.35 | - | - | - |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Rigetti Computing, Inc.this co. | RGTI | $8.0B | -37.14 | 14.70 | -39.6% | -38.42 |
| D-Wave Quantum Inc. | QBTS | $10.2B | -28.84 | 12.01 | -41.7% | -27.66 |
| Core Scientific, Inc. | CORZ | $8.9B | -30.74 | -9.22 | 30.0% | -67.35 |
| Clearwater Analytics Holdings, Inc. | CWAN | $7.3B | -187.52 | 3.60 | -1.9% | 98.69 |
| Navitas Semiconductor Corporation | NVTS |
| $7.3B |
| -62.15 |
| 16.38 |
| -26.4% |
| -104.54 |
| Silicon Laboratories Inc. | SLAB | $7.2B | -111.28 | 6.60 | -5.9% | -365.09 |
| InterDigital, Inc. | IDCC | $6.7B | 16.59 | 6.13 | 36.9% | 11.07 |
| Novanta Inc. | NOVT | $5.9B | 109.22 | 4.47 | 4.1% | 32.48 |
| Zeta Global Holdings Corp. | ZETA | $5.8B | -183.13 | 7.17 | -3.9% | 143.62 |
| Peer Median | - | -46.44 | 6.36 | -2.9% | -8.30 | |