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Rigetti Computing, Inc. (RGTI) stock

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NASDAQ: RGTI Nasdaq Systems Software Next results ~November 10, 2026

D Fundamentals grade

Rigetti Computing, Inc. is a US-listed company in the systems software industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: every model's value for Rigetti Computing, Inc. is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.

Price vs value

Under review: free cash flow after stock pay is not positive. We'll show the comparison once resolved.

Rigetti Computing, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 7 selling0 purchases and 21 sales by directors and officers, last 12 monthsInsider trades
  • Funds295 adding, 147 cuttingOf 41 active managers that changed their stake, 20 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Rigetti Computing files

Where Rigetti Computing stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $13m, up 68.5% on a year earlier, faster than the 8.8% growth a quarter earlier. Free-cash-flow margin rose to -655.9% from -827.3% a year earlier. Operating margin widened to -727.6% from -976.1%. The diluted share count is up 28.9% on a year earlier, which dilutes existing holders. It passes 2 of our 2 financial-health checks.

Our model value for Rigetti Computing is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 10, 2026 (estimated)

Rigetti Computing, Inc.'s trailing-twelve-month revenue grew 68.5% year on year, with a free-cash-flow margin of -655.9%. Where it stands out: change in growth rate of +59.7pp ranks 1 of 37 systems software companies we cover. Where it lags: net margin of -1787.4% ranks 36 of 37 systems software companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 68.5% (+59.7pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 68.5% over the last 12 months, against a median of 16.9% for systems software companies we cover.
  • Growth speeding up. The growth rate is 59.7 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 248.5 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Results due soon. Results are expected around 9 November; the share price can move sharply on the day.
  • Loss-making. Operating margin is -727.6%: costs exceed revenue.
  • Burning cash. Free cash flow was -655.9% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 170.7% of revenue, against a median of 8.5% for systems software companies we cover: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 28.9% in a year.
  • High sales multiple. The shares trade at 261 times revenue while operating margins remain thin.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
-$0.05 against an average estimate of -$0.05: missed by 8.1%
Revenue
$5m, up 185.3% on a year earlier
Share reaction
+6.9% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 10, 2026; average EPS estimate -$0.05

Rigetti Computing's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.6%
  • 1 week-11.1%
  • 1 month-27.5%
  • This year-51.8%
  • 1 year-71.7%
  • 5 years+7.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$13.4M
Operating margin
-727.6%
Net margin
-1787.4%
EPS (TTM, diluted)
$-0.73

Growth

Revenue growth
+68.5%
Change in growth rate
+59.7 pts
Share count change
+28.9%

Cash

Free cash flow (TTM)
-$87.6M
FCF margin
-655.9%
Stock pay % of revenue
170.7%

Earnings

Last results
August 6, 2026
Next results (est.)
November 9, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Insider trade
  2. Agreement
  3. Leadership
  4. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Rigetti Computing, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: free cash flow after stock pay is not positive.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Rigetti Computing, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 11.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.56 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$0.1 ~$0.0–$0.3 Left out: out of range vs price (0.01x)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$0.5 ~$0.5–$1.1 Left out: out of range vs price (0.04x)
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Rigetti Computing, Inc. with Systems Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20212022202320242025Now
Share price$10.29$0.73$0.98$15.26$22.15$10.67
Market value$240m$75m$130m$2.8bn$6.9bn$3.5bn
+ Net debt (− = net cash)$15m−$27m$984000−$68m−$45m−$28m
Enterprise value$255m$47m$131m$2.8bn$6.8bn$3.5bn
Multiples
Price / sales 29.3x5.7x10.8xn/mn/mn/m
Price / earnings ——————
Price / free cash flow ——————
EV / EBITDA ——————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 10, 2026, after the close. Analysts expect revenue of $4m and EPS of −$0.05 (range −$0.06 to −$0.04) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.19 −17% $23m +228%
Next −$0.21 −10% $44m +89%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +1.4% on 90 days ago. In the last 30 days, 1 analyst raised Rigetti Computing, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Rigetti Computing, Inc., last 90 days
−$0.30 −$0.20 −$0.10 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.18 Current fiscal year, 60 days ago: −$0.18 Current fiscal year, 30 days ago: −$0.19 Current fiscal year, 7 days ago: −$0.19 Current fiscal year, Now: −$0.19 −$0.19 Next fiscal year, 90 days ago: −$0.20 Next fiscal year, 60 days ago: −$0.20 Next fiscal year, 30 days ago: −$0.21 Next fiscal year, 7 days ago: −$0.21 Next fiscal year, Now: −$0.21 −$0.21

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.18−$0.20
60 days ago −$0.18−$0.20
30 days ago −$0.19−$0.21
7 days ago −$0.19−$0.21
Now −$0.19−$0.21

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.05 −$0.05 −8.1%
Mar 2026 −$0.04 −$0.04 +6.7%
Dec 2025 −$0.03 −$0.03 +8.7%
Sept 2025 −$0.04 −$0.03 +25.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

13 analysts, Oct 2026
Buy969%
Hold431%
Sell00%

Monthly trend

  1. Oct 202618413
  2. Sep 202618413
  3. Aug 202618413

Counts of recommendations published by analysts covering Rigetti Computing, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
21.4%
of tradable shares
Days to cover
4.37
at average volume
Short interest, 1 month
+14%
to October 15, 2026
Held by institutions
55%
of shares
Held by insiders
1.7%
of shares
Employees
162
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −75.9%

$44.27 on October 31, 2025 to $10.67

ThenNowEffect
Revenue (last 12 months) $8m $13m +68.5%
P/S multiple n/m n/m −81.6%
Share count 254m 327m −22.4%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20222023202420252026 to date
Return
RGTI−93%+35%+1449%+45%−52%
Industry peers (median)−40%+29%+22%−1%+26%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
RGTI33%33%50%50%36%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
RGTI−93%−73%−69%−70%−61%
S&P 500−25%−10%−8%−19%−9%

Worst fall since April 22, 2021: 97% from November 18, 2021 to May 3, 2023. Getting back needed a 3113% gain, reached on December 26, 2024, 603 days after the low.

Price behaviour

52-week range
$10.67 – $39.12
From 52-week high
−72.7%
vs 50-day average
−25.9%
vs 200-day average
−37.6%
Volatility (1 year)
95%
Beta vs S&P 500
4.02

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±5.4%
After a week
5 up, 7 down
typical move ±12.1%
After a month
6 up, 6 down
typical move ±40.6%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +6.9% +0.5% +11.0% −9.4%
May 11, 2026 +0.7% +0.1% −12.2% +2.7%
March 4, 2026 +0.1% +0.1% −0.1% −16.3%
November 10, 2025 −7.0% +1.8% −26.9% −22.7%
August 12, 2025 +7.9% +1.4% −5.1% +4.4%
May 12, 2025 −6.8% +4.0% +13.9% +18.3%
March 5, 2025 +8.3% −0.7% +13.9% +3.7%
November 12, 2024 +11.8% −0.3% −13.8% +292.8%
August 8, 2024 +1.5% +2.8% +13.9% −11.6%
May 9, 2024 −7.2% +0.7% −8.0% −17.6%
March 14, 2024 −3.7% −0.9% −17.2% −47.1%
February 5, 2024 −2.4% −0.1% +9.4% +40.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Rigetti Computing, Inc. in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Rigetti Computing, Inc.
$6M $8M $10M $12M $14M $16M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $14.7M Revenue (TTM), FY23 Q4: $12M Revenue (TTM), FY24 Q1: $12.9M Revenue (TTM), FY24 Q2: $12.6M Revenue (TTM), FY24 Q3: $11.9M Revenue (TTM), FY24 Q4: $10.8M Revenue (TTM), FY25 Q1: $9.2M Revenue (TTM), FY25 Q2: $7.9M Revenue (TTM), FY25 Q3: $7.5M Revenue (TTM), FY25 Q4: $7.1M Revenue (TTM), FY26 Q1: $10M Revenue (TTM), FY26 Q2: $13.4M $13.4M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $14.7M
FY23 Q4 $12M
FY24 Q1 $12.9M
FY24 Q2 $12.6M
FY24 Q3 $11.9M
FY24 Q4 $10.8M
FY25 Q1 $9.2M
FY25 Q2 $7.9M
FY25 Q3 $7.5M
FY25 Q4 $7.1M
FY26 Q1 $10M
FY26 Q2 $13.4M
Revenue growth, TTM YoY Rigetti Computing, Inc.
-50% 0% 50% 100% FY23 Q4 FY24 Q2 FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q2 Revenue growth, TTM YoY, FY23 Q4: -8.3% Revenue growth, TTM YoY, FY24 Q1: -2.6% Revenue growth, TTM YoY, FY24 Q2: -12.3% Revenue growth, TTM YoY, FY24 Q3: -19.1% Revenue growth, TTM YoY, FY24 Q4: -10.2% Revenue growth, TTM YoY, FY25 Q1: -28.4% Revenue growth, TTM YoY, FY25 Q2: -37.2% Revenue growth, TTM YoY, FY25 Q3: -37.0% Revenue growth, TTM YoY, FY25 Q4: -34.3% Revenue growth, TTM YoY, FY26 Q1: 8.8% Revenue growth, TTM YoY, FY26 Q2: 68.5% 68.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -8.3%
FY24 Q1 -2.6%
FY24 Q2 -12.3%
FY24 Q3 -19.1%
FY24 Q4 -10.2%
FY25 Q1 -28.4%
FY25 Q2 -37.2%
FY25 Q3 -37.0%
FY25 Q4 -34.3%
FY26 Q1 8.8%
FY26 Q2 68.5%
Operating margin (TTM) Rigetti Computing, Inc.
-1500% -1000% -500% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -556.8% Operating margin (TTM), FY23 Q4: -602.0% Operating margin (TTM), FY24 Q1: -519.9% Operating margin (TTM), FY24 Q2: -528.6% Operating margin (TTM), FY24 Q3: -565.3% Operating margin (TTM), FY24 Q4: -634.9% Operating margin (TTM), FY25 Q1: -798.7% Operating margin (TTM), FY25 Q2: -976.1% Operating margin (TTM), FY25 Q3: -1075.0% Operating margin (TTM), FY25 Q4: -1194.4% Operating margin (TTM), FY26 Q1: -888.4% Operating margin (TTM), FY26 Q2: -727.6% -727.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -556.8%
FY23 Q4 -602.0%
FY24 Q1 -519.9%
FY24 Q2 -528.6%
FY24 Q3 -565.3%
FY24 Q4 -634.9%
FY25 Q1 -798.7%
FY25 Q2 -976.1%
FY25 Q3 -1075.0%
FY25 Q4 -1194.4%
FY26 Q1 -888.4%
FY26 Q2 -727.6%
FCF margin (TTM) Rigetti Computing, Inc.
-1500% -1000% -500% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -430.9% FCF margin (TTM), FY23 Q4: -496.6% FCF margin (TTM), FY24 Q1: -450.4% FCF margin (TTM), FY24 Q2: -431.7% FCF margin (TTM), FY24 Q3: -553.9% FCF margin (TTM), FY24 Q4: -572.1% FCF margin (TTM), FY25 Q1: -643.8% FCF margin (TTM), FY25 Q2: -827.3% FCF margin (TTM), FY25 Q3: -901.7% FCF margin (TTM), FY25 Q4: -1089.4% FCF margin (TTM), FY26 Q1: -815.2% FCF margin (TTM), FY26 Q2: -655.9% -655.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -430.9%
FY23 Q4 -496.6%
FY24 Q1 -450.4%
FY24 Q2 -431.7%
FY24 Q3 -553.9%
FY24 Q4 -572.1%
FY25 Q1 -643.8%
FY25 Q2 -827.3%
FY25 Q3 -901.7%
FY25 Q4 -1089.4%
FY26 Q1 -815.2%
FY26 Q2 -655.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 8 13 12 11 7 13
Gross profit 7 10 9 6 2 5
EBITDA −29 −102 −65 −62 −77 −87
Operating income −34 −109 −72 −69 −85 −97
Net income −38 −72 −75 −201 −216 −239
Diluted EPS −$1.64 −$0.70 −$0.57 −$1.09 −$0.70 −$0.73
Growth (year on year)
Revenue — +59.9% −8.3% −10.1% −34.3% +68.5%
Margins
Gross margin 80.2% 78.1% 76.7% 52.8% 29.1% 34.6%
EBITDA margin −359.1% −779.1% −540.4% −571.0% <−999% −653.8%
Operating margin −416.4% −832.5% −602.1% −634.9% <−999% −727.6%
Net margin −466.6% −545.9% −625.5% <−999% <−999% <−999%
Free-cash-flow margin −439.9% −652.0% −496.7% −572.1% <−999% −655.9%
Cash flow
Cash from operations −29 −63 −51 −51 −59 −61
Capital spending 7 23 9 11 19 27
Free cash flow −36 −85 −60 −62 −77 −88
Stock-based pay 2 45 12 13 18 23
Free cash flow after stock pay −38 −130 −72 −75 −95 −110
Balance sheet
Cash 12 58 21 68 45 28
Total debt 27 31 22 0 0 0
Net debt (negative = net cash) 15 −27 1 −68 −45 −28
Diluted shares 23m 102m 132m 185m 310m 327m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $648m
Short-term assets $414mLonger-term assets $234m
What it owes, and who funded it · $648m
Short-term liabilities $105mLonger-term liabilities $6mShareholders' equity $537m
  • Short-term assets cover short-term liabilities $414m of assets due within a year against $105m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $414m short-term assets against $6m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Rigetti Computing, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+28.9%
year over year
R&D spending
547.1%
of revenue
Days sales outstanding
106 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in systems software
Last 12 months unless stated RGTI QBTS OWLS HUBC CHOW ALAR Median
Revenue, last 12 months $13m $12m $8m $32m $32m $41m $1.1bn
Revenue growth, last 12 months 68.5% −44.2% 3.9% 7.1% 38.3% 28.1% 16.9%
Revenue growth, 3-year average −2.5% 19.0% — — — — 16.1%
Revenue growth, latest quarter 185.3% −0.6% — — — — 19.6%
Gross margin 34.6% 64.2% 2.6% 16.7% 12.9% 58.5% 69.6%
Operating margin −727.6% <−999% −409.8% −222.0% −9.4% 0.5% 3.7%
Operating margin, 3-year average −744.1% −810.3% — — — −257.7% 4.0%
Net margin <−999% <−999% −405.2% −378.3% −9.4% 2.4% 2.4%
Cash from operations / revenue −454.7% −892.4% −146.7% −99.2% −22.5% −4.9% 16.6%
Free-cash-flow margin −655.9% −963.8% −153.5% −99.3% −22.5% −5.3% 15.0%
Free-cash-flow margin, 3-year average −638.3% −598.1% — — — −200.0% 18.8%
Stock pay / revenue 170.7% 250.5% 217.7% 10.1% — 8.5% 8.2%
Change in share count 28.9% 40.1% — 537.5% 2.7% 6.6% 2.7%

Median of all 37 companies we cover in systems software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

37 systems software companies
Measure Company Peer median Rank
Revenue growth Growth 68.5% 16.9% 2 of 37
Change in growth rate Growth +59.7pp -0.3pp 1 of 37
Gross margin Profitability 34.6% 70.4% 27 of 32
Operating margin Profitability -727.6% 3.8% 32 of 34
Net margin Profitability -1787.4% 2.4% 36 of 37
Free-cash-flow margin Cash generation -655.9% 17.3% 33 of 34
Stock pay as % of revenue Cash generation 170.7% 8.5% 33 of 36
Change in share count Balance sheet 28.9% 3.1% 30 of 34
Days sales outstanding Balance sheet 106 days 72 days 24 of 29

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Collaborative Research and Other Professional Services $6.7M 94.2% ▼ 17.0%
Access To Quantum Computing Systems $412,000 5.8% ▲ 15.7%

From Rigetti Computing, Inc.'s 10-K filed March 4, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$3.4B
Institutions reporting
472
Shares held vs prior quarter
▲ 0.2%
Positions opened / closed
92 / 58

Top buyers and sellers, Q2 2026: 295 institutions bought and 147 sold ; the biggest buyer was Blackrock, Inc (+3.1M shares) and the biggest seller D. E. Shaw & Co., Inc (−8.6M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $551M 28.5M 16.4% ▲ 12.2%
Vanguard Portfolio Management LLC $385M 19.9M 11.4% ▲ 2.2%
Vanguard Capital Management LLC $279M 14.4M 8.3% ▲ 1.2%
State Street Corp $228M 11.8M 6.8% ▲ 16.7%
Geode Capital Management, LLC $168M 8.7M 5.0% ▲ 6.7%
UBS Group AG $125M 6.5M 3.7% ▲ 33.5%
D. E. Shaw & Co., Inc. $104M 5.4M 3.1% ▼ 61.5%
Morgan Stanley $91.3M 4.7M 2.7% ▲ 21.9%
Unicom Systems, Inc. $68M 3.5M 2.0% 0.0%
Penserra Capital Management LLC $66.1M 3.4M 2.0% ▲ 110.4%
Defiance Etfs, LLC $64.4M 3.4M 1.9% ▼ 25.9%
Northern Trust Corp $59.3M 3.1M 1.8% ▲ 9.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Rigetti Computing, Inc.'s complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $30.1M 21 trades by 7 insiders · 40% under pre-set plans
Net ▼ $30.1M net selling
Insider Date Trade Shares Price Value
Kulkarni Subodh K President and CEO September 9, 2026 Sell pre-set plan 120,000 $15.68 $1.9M
Bertelsen Jeffrey A. CHIEF FINANCIAL OFFICER September 3, 2026 Sell pre-set plan 25,000 $15.00 $375,000
Bestwick Andrew Joseph CHIEF TECHNOLOGY OFFICER August 20, 2026 Sell 5,791 $16.81 $97,347
Rivas David CHIEF OPERATING OFFICER August 20, 2026 Sell 9,038 $16.79 $151,748
Bertelsen Jeffrey A. CHIEF FINANCIAL OFFICER August 20, 2026 Sell 3,860 $16.89 $65,195
Johnson Ray O Director June 22, 2026 Sell pre-set plan 84,944 $20.55 $1.7M
Johnson Ray O Director June 8, 2026 Sell pre-set plan 5,971 $21.76 $129,929
Johnson Ray O Director June 8, 2026 Sell pre-set plan 116,217 $21.28 $2.5M
Kulkarni Subodh K President and CEO June 1, 2026 Sell 61,000 $24.38 $1.5M
Rivas David CHIEF TECHNOLOGY OFFICER May 29, 2026 Sell 499,328 $25.40 $12.7M
Kulkarni Subodh K President and CEO May 28, 2026 Sell 43,190 $26.23 $1.1M
Rivas David CHIEF TECHNOLOGY OFFICER May 22, 2026 Sell 30 $25.63 $769

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 9, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 11, 2026
  • March 4, 2026
  • November 10, 2025
  • August 12, 2025
  • May 12, 2025

Recent SEC filings

Data status

When each part of this page on Rigetti Computing, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Rigetti Computing, Inc. in brief

What does Rigetti Computing, Inc. do?
Rigetti Computing, Inc. is a US-listed company in the systems software industry. Its financial year ends in December.
What is Rigetti Computing, Inc.'s stock ticker?
Rigetti Computing, Inc. trades under the ticker RGTI on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Rigetti Computing, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Rigetti Computing, Inc. reported revenue of $13.4M, 68.5% higher than a year earlier, according to its SEC filings.
What is Rigetti Computing, Inc.'s free cash flow?
Rigetti Computing, Inc.'s free-cash-flow margin is -655.9% of revenue over the trailing twelve months, ranking 33 of the 34 systems software companies we cover.
Who are Rigetti Computing, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Rigetti Computing, Inc.'s market cap?
On November 2, 2026, Rigetti Computing, Inc.'s market capitalisation was about $3.5B and net debt of -$27.8M. Market figures come from third-party market data and may be delayed.
Who are Rigetti Computing, Inc.'s competitors?
In our Systems Software peer group, the companies closest to Rigetti Computing, Inc. are D-wave Quantum Inc., Obook Holdings Inc., Hub Cyber Security Ltd., Chowchow Cloud International Holdings Ltd and Alarum Technologies Ltd. The side-by-side comparison below sets their revenue, margins and growth against Rigetti Computing, Inc.'s.
Are insiders buying or selling Rigetti Computing, Inc. stock?
Over the last 12 months, Rigetti Computing, Inc.'s directors and officers reported 0 open-market purchases and 21 sales on Form 4. The insider trading page charts every trade.
When is Rigetti Computing, Inc.'s next earnings date?
Around November 10, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Rigetti Computing, Inc. announces its own schedule.