RGTI Insights ✨

⚛️ what does the RGTI company do about it?

Rigetti Computing, Inc. is a quantum computing company (Full-Stack Quantum Computing) whose core business is to create:

• Quantum Computers and Superconducting Quantum Processors

• Rigetti Quantum Cloud Services - QCS to provide quantum computing as a cloud service to corporate customers, government agencies and research institutions

• The company is a full-Stack developer, which means they design and build from quantum chips, control systems, to software for writing quantum algorithms (such as the Forest platform).

• Fab-1: The company has a rapid prototype manufacturing plant (Rapid Prototyping Fabrication Lab) to build quantum integrated circuits.

Company Position and Developing Things (Company / Development Basics)

General Status

• RGTI was founded in 2013 and is headquartered in Berkeley, California.

• It is in a quantum computing industry that is still in its infancy and has high growth potential, but is also technologically vulnerable and highly competitive.

• Many analysts view it as a highly volatile stock (Beta coefficient about 2.17) and a highly speculative investment driven by future technological potential rather than current profits.

Major developments

• Ankaa-3: The company has successfully reduced its quantum gate error rate (Two-qubit gate fidelity milestones) by halving it by 2024 and demonstrating higher accuracy (Fidelity).

• 84-cubit processor: In July 2023, Rigetti released a single-chip 84-cubit quantum processor that can be expanded into larger systems.

• Novera ™ QPU Partner Program: Building a Partner Ecosystem for Quantum Computing Hardware, Software, and Services

Cash Flow & Debt

• Cash Flow and Profit: The company is in the early stages of commercialization in a new industry and is not yet profitable.

• Revenue (Revenue): In the most recent quarter (based on late 2025 data), revenue was approximately $1.95 million (below expectations).

• Earnings / losses per share (EPS): There was a loss per share in the most recent quarter.

• EBITDA: Still very negative (approximately $-73.01 million)

• Free Cash Flow: Negative (approximately $-19.7 million)

• Liabilities:

• The ratio of Total Debt / Total Capital is very low (about 2%), indicating that the company has low debt and has repaid some of its loans (e.g., repaying all of its loans with Trinity Capital, Inc.).

Management summary: The company still has operating losses and negative cash flow, which is typical of deep technology companies that are in the R & D and commercial construction phase. However, the level of debt is very low, it represents good debt management, but it needs to rely on funding and investment to continue operating.

💰 What channel revenue?

Rigetti Computing's revenue comes from:

• Rigetti Quantum Cloud Services (QCS): Providing Quantum Computing Platform Services over Direct Cloud

• Cloud Service Providers: Providing services through major cloud providers (such as Microsoft Azure and Amazon Bracket)

• Corporate, public sector and research institutions customers: Selling quantum computing services and related technologies to this group of customers.

📈 The growth trend in 2026 and in the next 5-10 years.

2026

• Revenue Trends: Very high revenue growth is forecast for the next fiscal year (2026). The sales estimate is $23.48 million, which represents + 185.6% growth over the current year (based on the Nov 2025 forecast).

• EPS growth: It is expected to remain a loss, but it is forecast that EPS will grow (reduce losses) by about 53.6% annually.

• Analyst: There is optimism, with some sources predicting that the share price could rise 55% in 2026.

5-10 years (long-term growth)

• Opportunities: The quantum computing industry has enormous long-term growth potential (Quantum Revolution) Rigetti is a pioneer in superconducting technology, and the continued rise of Cubit processor development is a good sign.

• Challenges: Despite forecasting revenue growth of 48.2% annually over the next three years, the company continues to forecast losses over the next three years.

• Conclusion: The long-term growth trend will depend on the ability to transition research and development to meaningful commercial applications and the demand for real quantum computing applications in the global market.

🤝 Business Partners

Rigetti has created a significant collaborative ecosystem:

• Quanta Computer, Inc.: Strategic Collaboration Agreement and Quanta have also invested in Rigetti.

• Cloud Providers: Microsoft Azure and Amazon Bracket (for QCS service)

• National Quantum Computing Centre (NQCC) UK: Awarded in 24 cubit quantum system delivery

• Riverlane: Quantum Error Correction Technology Partner (Quantum Error Correction - QEC)

• Quantum Machines: Cooperate in Integrating Control System (OPX1000) with Rigetti's QPU

• NVIDIA: Collaborate on Integrating NVIDIA DGX Quantum Systems

• Educational / research institutions: Iowa State University, Royal Melbourne Institute of Technology, University of Connecticut, and Lawrence Livermore National Laboratory.

• Novera QPU Partner Program Members: Includes Quantum Elements and Qruise

⚔️ Main Competitors

RGTI faces stiff competition, particularly from companies based in the quantum computing industry and tech giants:

• Main quantum competitors:

• IonQ (IONQ): A major competitor using Trapped-Ion technology.

• D-Wave Quantum (QBTS): A competitor focused on the Quantum Annealing side.

• Quantum Computing, Inc. (QUBT)

• Oxford Ionics, Atlantic Quantum, Alice & Bob

• Tech giants:

• Alphabet (Google) (GOOG / GOOGL)

• Microsoft (MSFT)

• IBM (International Business Machines)

• NVIDIA (NVDA)

Competitors like IonQ and D-Wave are seen as having advanced in commercial development and building a broader and scalable customer ecosystem faster than Rigetti.

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