RGTI
Rigetti Computing, Inc.

Rigetti Computing, Inc.RGTI

Technology · Computer Hardware
12.44USD
+8.74%
Oct 28, 2026
RGTI overview ready
Full-Stack Developer Providing Scalable Superconducting Quantum Hardware and Cloud Access
Rigetti is a full-stack superconducting, gate-model quantum-computing hardware developer that designs and fabricates quantum processors, integrates control systems, sells or deploys systems, and provides cloud access to its QPUs.
Direct narrative exposure
Exposed to the Quantum Technology Industrialization narrative through Quantum Computing Hardware Platforms — pure play.
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Demanding valuation
The price embeds expectations that run ahead of the cash it currently generates.
Fundamentals not measured
Primary risk
Technology development risk in quantum computing.
Market Oct 27Filing Jun 30Price action Jul 21Research Jul 21

Conviction Level

CompanyFit9.5PriceAction2.0Valuation0.3CompanyPosition7.3BusinessQuality—

Conviction uses Company Fit, Price Action, Valuation, Business Quality. Company Position is research context, not an input.

Theme leadershipGroup context · not a Conviction input
Quantum Computing is tracked (too few stocks) — no leadership reading
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.

Key Financials

Market Cap
$4.2B
Avg Volume (60D)
15.4M
60 sessions
Revenue Growth YoY
-34.3%
FY2025 vs FY2024
Gross Margin
+34.6%
Trailing twelve months
Operating Margin
-727.6%
Trailing twelve months
Free Cash Flow Yield
-2.1%
P/E
N/M
Market metrics as of Oct 27, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Fundamentals & Valuation

Both valuation perspectives agree this company is expensive.
Rigetti Computing, Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of the cash it currently generates.

What changed

  • RGTI rose 8.7% in one session
    RGTI closed +8.7% while the broad market was close to flat (+0.6%).
    2026-10-27

Company Research

Thesis
Rigetti is a full-stack superconducting, gate-model quantum-computing hardware developer that designs and fabricates quantum processors, integrates control systems, sells or deploys systems, and provides cloud access to its QPUs.
Opportunity
High opportunity
Federal quantum research, procurement and commercialization support for scalable quantum-computing hardware.
Key risk
Technology development risk in quantum computing.

Economic classification

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Business & Markets

Technology · Computer Hardware
What they do

Rigetti Computing designs, builds, and operates quantum computers and superconducting quantum processors, providing access to these systems primarily through cloud-based quantum computing as a service (QCaaS).

How it earns

The company generates revenue by offering access to its quantum computing systems and processors via subscription or usage-based cloud services.

Products & services
Novera 9-qubit quantum processing unit (QPU)
5-qubit chip for single-qubit operation testing
Quantum computing as a service (QCaaS)
Customers & end markets
Technology companies
Research institutions
Enterprises requiring quantum computing capabilities
Market position

Niche player focused on superconducting quantum processors and cloud-based quantum computing access.

Demand drivers
Low cyclicality

Quantum computing demand is driven by long-term technology development and research rather than economic cycles.