Rigetti Computing, Inc.

Listed Company

RGTIWCIK 0001838359NasdaqEmerging GrowthServices-Computer Programming ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-216.21M

Total Assets

$666.57M

Equity

$546.20M

Shares Out

332.15M

Op. Cash Flow

$-58.54M

Business

Rigetti Computing, Inc. builds and operates superconducting quantum computers and develops full‑stack systems for quantum computation. Its main products and services include quantum processing units (QPUs) such as Novera and the Ankaa‑3, the Rigetti Quantum Cloud Services (QCS) platform delivering Quantum Computing as a Service (QCaaS), foundry fabrication services (Fab‑1), and professional algorithm and integration services. Key business segments encompass chip design and fabrication, system integration and cloud delivery, foundry services, and collaborative technology development partnerships. The company distributes systems and cloud access directly to enterprises and government agencies and indirectly through cloud partners such as Amazon Braket and Microsoft Azure.

Summary from filing dated 2025-03-07

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	7	11	12	13	8
Cost of revenue	5	5	3	3	2
Total gross profit	2	6	9	10	7
Research and development	61	50	53	60	27
Selling, general and administrative	25	24	28	54	11
Total operating expenses	87	74	82	119	41
Loss from operations	−85	−69	−72	−109	−34
Interest expense	0	−3	−6	—	—
Interest income	17	5	5	2	10,000
Change in fair value of derivative warrant liabilities	−151	−90	−1	22	−2
Change in fair value of earn-out liabilities	3	−44	−900,000	19	0
Loss on extinguishment of debt	0	−426,000	0	—	—
Total other expense, net	−132	−132	−3	38	−4
Net loss before provision for income taxes	−216	−201	−75	−72	−38
Provision for income taxes	0	0	0	0	0
Net loss	−216	−201	−75	−72	−38
Net loss per share attributable to common stockholders - basic (in $ per share)	−0.7	−1.09	−0.57	−0.7	−1.64
Net loss per share attributable to common stockholders - diluted (in $ per share)	−0.7	−1.09	−0.57	−0.7	−1.64
Weighted average shares used to compute net loss per share attributable to common stockholders - basic (in shares)	310	185	132	102	23
Weighted average shares used to compute net loss per share attributable to common stockholders - diluted (in shares)	310	185	132	102	23

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	45	68	21	58	12
Available-for-sale investments - short-term	399	124	—	—	—
Accounts receivable	3	2	5	6	2
Prepaid expenses	3	3	2	—	235,399
Other current assets	6	9	771,000	—	—
Total current assets	455	207	108	154	18
Available-for-sale investments - long-term	146	25	—	—	—
Property and equipment, net	57	45	44	40	22
Operating lease right-of-use assets	6	8	8	9	6
Other assets	2	325,000	129,000	129,000	165,000
Total assets	667	285	160	203	46
Accounts payable	3	2	6	2	2
Accrued expenses and other current liabilities	6	8	9	8	4
Current portion of deferred revenue	847,000	113,000	343,000	961,000	—
Current portion of operating lease liabilities	2	2	2	2	0
Total current liabilities	12	12	29	22	8
Deferred revenue, less current portion	698,000	698,000	0	—	—
Operating lease liabilities, less current portion	5	7	6	8	0
Derivative warrant liabilities	103	93	3	2	4
Earn-out liabilities	0	46	2	1	0
Total liabilities	120	158	50	53	36
Commitments and contingencies (Note 19)	—	—	—	—	—
Preferred stock, par value $0.0001 per share, 10,000,000 shares authorized, none outstanding	0	0	0	0	0
Common stock, par value $0.0001 per share, 1,000,000,000 shares authorized, 331,282,895 shares issued and outstanding at December 31, 2025 and 283,546,871 shares issued and outstanding at December 31, 2024	33,000	29,000	14,000	12,000	2,000
Additional paid-in capital	1,316	681	463	429	136
Accumulated other comprehensive income	997,000	105,000	244,000	−161,000	52,000
Accumulated deficit	−771	−555	−354	−279	0
Total stockholders' equity	546	127	110	150	−72
Total liabilities and stockholders' equity	667	285	160	203	46

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−216	−201	−75	−72	−38
Depreciation and amortization	8	7	7	7	5
Stock-based compensation	18	13	12	45	2
Accretion of available-for-sale securities	−10	−4	−3	−949,000	0
Amortization of debt issuance costs, commitment fees and accretion of final payment fees	0	844,000	1	1	513,000
Non-cash lease expense	2	2	2	537,000	0
Accounts receivable	−124,000	3	1	−5	−1
Prepaid expenses, other current assets and other assets	−4	−2	−259,000	−1	—
Deferred revenue	734,000	468,000	−618,000	−24,000	493,000
Accounts payable	111,000	−1	895,000	−707,000	−389,000
Accrued expenses and operating lease liabilities	−4	−3	−2	4	2
Net cash used in operating activities	−59	−51	−51	−63	−29
Purchases of property and equipment	−19	−11	−9	−23	−7
Purchases of available-for-sale securities	−636	−225	−109	−84	0
Maturities of available-for-sale securities	251	158	119	0	—
Net cash used in investing activities	−403	−78	773,000	−107	−7
Payments of principal of notes payable	0	−23	−8	−1	−275,000
Proceeds from sale of common stock through Common Stock Purchase Agreement	0	13	21	0	—
Proceeds from sale of common stock through ATM Offerings	347	98	0	—	—
Proceeds from sale of common stock through registered direct offering	0	96	0	—	—
Proceeds from sale of common stock from Quanta private placement transaction	35	0	—	—	9
Payments of offering costs	−888,000	−2	−107,000	0	−2
Net proceeds (payments) from tax withholdings on sell-to-cover equity award transactions	6	−6	—	—	—
Proceeds from issuance of common stock upon exercise of stock options	2	600,000	—	—	—
Proceeds from issuance of common stock upon exercise of warrants	50	2,000	—	—	—
Net cash provided by financing activities	439	175	13	215	26
Effects of exchange rate changes on cash and cash equivalents	−38,000	−188,000	80,000	101,000	−5,000
Net decrease in cash and cash equivalents	−23	46	−36	46	−10
Cash paid for interest	0	2	4	4	1
Purchases of property and equipment recorded in accounts payable	2	466,000	4	673,000	—
Purchases of property and equipment recorded in accrued expenses	259,000	150,000	1	639,000	—
Non-cash addition to operating lease right-of-use asset and liability	0	2	0	—	—
Reclassification of earn-out liabilities to additional paid-in capital for vesting of Sponsor Vesting Shares	43	0	—	—	—
Reclassification of derivative liabilities to additional paid-in capital due to exercise of Public Warrants	141	0	—	—	—
Unrealized gain on short term investments	923,000	66,000	325,000	−314,000	0

Filings

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