RGTI·Quantum Computing — superconducting (full-stack, captive-fab)

Rigetti Computing, Inc.

ConvictionWeak

Full-stack quantum hardware + cloud-access (QCS, Amazon Braket, Azure Quantum), on-premises QPU system sales (Novera 9Q → 108Q), and foundry/government R&D contracts; pre-commercial, government-revenue-concentrated, equity-funded.

Revenue

$7.1MFY2025); $4.4M (Q1 FY26

Rev growth

-34% FY25 YoY$10.8M→$7.1M); +198% Q1 FY26 YoY ($1.5M→$4.4M off a tiny base

Gross margin

~31%Q1 FY26: $1.4M GP on $4.4M rev); ~30% FY25 ($2.1M GP on $7.1M

Op margin

deeply negative — FY25 operating loss $84.7)M on $7.1M rev (~-1,190%

Capex intensity

moderate-to-high for revenue base — captive Fab-1 foundry + cryo test infrastructureexact capex not disclosed

Market cap

~$6.1BJun 2026

Price · 1-year trend

real · weekly

$18.36+66% 1yUSD

52-week range

$11 – $46

52w lowas of 2026-06-28 · Yahoo Finance52w high

The read

Where our coverage leans

Coverage leans bearish

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Full financial intelligence for Rigetti Computing, Inc.

Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.

Income statement & margin structure
SWOT, moats & dependency map
Supplier–customer ecosystem graph
Signals, trends & valuation range

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