Rigetti Computing, Inc. (RGTI) Stock

Rigetti Computing, Inc. (RGTI) is a Technology stock trading at $17.83 (as of 2026-08-21), with a market capitalization of $5.95B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Rigetti Computing, Inc. operates as an integrated systems company. The company builds quantum computers and the superconducting quantum processors that power them. Its machines are integrated into various public, private, or hybrid clouds through its Quantum Cloud Services platform. The company was founded in 2013 and is based in Berkeley, California.

Understand Rigetti Computing, Inc.: how it makes money

Rigetti builds superconducting quantum computers and processors, and integrates them into public, private, or hybrid clouds through its Quantum Cloud Services platform, with sales tied to customer purchase orders for quantum systems and related cloud deployments.

Rigetti's profit opportunity depends on converting technical progress in superconducting qubits and gate performance into paid customer demand, shown by system purchase orders, that can then be delivered through its Quantum Cloud Services platform.

Business quality (Weak): Technical milestones look strong on measured gate fidelities, but the latest reported results show extremely negative operating margin and essentially no reported revenue base, so commercial traction and scaling remain the key uncertainty.

Bull case

  • Strong measured quantum performance indicators: Multiple reported gate fidelity metrics are very high (for example, Median Two-Qubit Gate Fidelity (Nine-Qubit System) at 99.8% and Median iSWAP Gate Fidelity at 99.0%).
  • Customer order signals for larger systems: C-DAC has a reported Purchase Order (108-Qubit System) value, and Novera has reported Systems Purchase Orders (Count) of 2.0.

Bear case

  • Very weak latest-period profitability: Reported operating margin is -589.8% in the latest quarter, indicating substantial cost pressure relative to revenue.
  • Commercial and contract momentum is not yet clearly visible in reported financials: The latest reported revenue is 0.0B, and at least one contract value metric shown (AFRL Contract Value (Three-Year)) is 0.0B.
Valuation — source: SEC EDGAR (first-party)
Price$17.83
Market Cap$5.95B
Price / Book11.07
Price / Sales445.67
FCF Yield-1.5%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$7.09M
Net Margin-3050.4%
Revenue Growth (YoY)185.3%
EPS Growth (YoY)23.1%
FCF Growth (YoY)27.2%
Financial Health — source: SEC EDGAR
Altman Z-Score28.29 (safe)
Valuation vs Sector & Industry
Sector P/E (Technology)33.9
Industry P/E (Business Services)29.9
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($796.75M)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryBusiness Services
CEOSubodh K. Kulkarni
Employees137
CountryUS
IPO Date2021-04-22

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RGTI earnings history · RGTI institutional & insider holders · RGTI KPIs & operating metrics · RGTI financials · RGTI investor presentations & press releases · RGTI SEC filings · RGTI peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.