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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% | - |
| 2024 | $11M | $-191M | $-201M | $-62M | -158.8% | -10.1% | - |
| 2023 | $12M | $-62M | $-75M | $-60M | -68.5% | -8.3% | - |
| 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 |
| 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 |
| Operating Income | -103.70 | -71.30 | -68.51 | -84.66 |
| EBITDA | -59.22 | -61.90 | -190.83 | -208.04 |
| EBIT | -66.23 | -69.33 | -197.73 | -216.21 |
| Pretax Income | -71.52 | -75.11 | -200.99 | -216.21 |
| Tax Provision | 0 | 0 | 0 | 0 |
| Net Income | -71.52 | -75.11 | -200.99 | -216.21 |
| Net Income Common Stockholders | -71.52 | -75.11 | -200.99 | -216.21 |
| Total Expenses | 116.81 | 83.31 | 79.30 | 91.75 |
| Interest Expense | 5.29 | 5.78 | 3.25 | 0 |
| Interest Income | 2.43 | 5.08 | 5.11 | 16.56 |
| Research And Development | 59.95 | 52.77 | 49.75 | 61.34 |
| Selling General And Administration | 53.98 | 27.74 | 24.46 | 25.38 |
| Normalized EBITDA | -94.25 | -58.80 | -56.49 | -59.93 |
| Normalized Income | -106.56 | -72.01 | -66.65 | -68.10 |
| Basic EPS | -0.70 | -0.57 | -1.09 | -0.70 |
| Diluted EPS | -0.70 | -0.57 | -1.09 | -0.70 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Total Unusual Items | 35.03 | -3.10 | -134.34 | -148.11 |
| Total Unusual Items Excluding Goodwill | 35.03 | -3.10 | -134.34 | -148.11 |
| Net Income From Continuing Operation Net Minority Interest | -71.52 | -75.11 | -200.99 | -216.21 |
| Reconciled Depreciation | 7.02 | 7.43 | 6.91 | 8.17 |
| Reconciled Cost Of Revenue | 2.87 | 2.80 | 5.09 | 5.02 |
| Net Interest Income | -2.85 | -0.70 | 1.86 | 16.56 |
| Net Income From Continuing And Discontinued Operation | -71.52 | -75.11 | -200.99 | -216.21 |
| Total Operating Income As Reported | -109.08 | -72.30 | -68.51 | -84.66 |
| Diluted Average Shares | 102.30 | 131.98 | 184.67 | 309.76 |
| Basic Average Shares | 102.30 | 131.98 | 184.67 | 309.76 |
| Diluted NI Availto Com Stockholders | -71.52 | -75.11 | -200.99 | -216.21 |
| Net Income Including Noncontrolling Interests | -71.52 | -75.11 | -200.99 | -216.21 |
| Net Income Continuous Operations | -71.52 | -75.11 | -200.99 | -216.21 |
| Other Income Expense | 35.03 | -3.10 | -134.34 | -148.11 |
| Special Income Charges | 12.90 | -1.94 | -44.17 | 2.52 |
| Other Special Charges | 0 | 0 | 0.43 | 0 |
| Impairment Of Capital Assets | 5.38 | 0 | 0 | 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 |
| Net Non Operating Interest Income Expense | -2.85 | -0.70 | 1.86 | 16.56 |
| Interest Expense Non Operating | 5.29 | 5.78 | 3.25 | 0 |
| Interest Income Non Operating | 2.43 | 5.08 | 5.11 | 16.56 |
| Selling And Marketing Expense | 6.35 | 0 | 0 | 0 |
| General And Administrative Expense | 47.63 | 0 | 0 | 0 |
| Other Gand A | 47.63 | 0 | 0 | 0 |
| Operating Revenue | 13.10 | 12.01 | 10.79 | 7.09 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Rigetti Computing, Inc.this co. | RGTI | $5.3B | - | 9.75 | -39.6% | -64.12 |
| Core Scientific, Inc. | CORZ | $6.2B | - | -6.38 | 30.0% | -65.36 |
| Belden Inc. | BDC | $5.0B | 21.54 | 3.93 | 18.8% | 13.62 |
| Remitly Global, Inc. | RELY | $4.6B | 70.61 | 5.31 | 7.8% | 46.80 |
| Commvault Systems, Inc. | CVLT | $4.4B | 64.04 |
| 581.49 |
| 23.4% |
| 37.72 |
| Zeta Global Holdings Corp. | ZETA | $4.4B | - | 5.42 | -3.9% | 52.89 |
| Novanta Inc. | NOVT | $4.3B | 82.24 | 3.28 | 4.1% | 23.79 |
| Navan, Inc. | NAVN | $4.3B | - | 3.53 | -32.9% | -26.01 |
| Fastly, Inc. | FSLY | $4.1B | - | 4.30 | -13.1% | -64.33 |
| Peer Median | - | 67.33 | 4.11 | 6.0% | 18.70 | |