Dashed lines mark market-closed periods (overnight, weekends & holidays)
Rigetti Computing (RGTI) has a market cap of $5.32B as of August 2026 — #4 of the 12 pure-play quantum computing stocks by market value.
Rigetti Computing is a full-stack quantum-classical computing company using superconducting qubits. It fabricates its own chips at Fab-1 and provides cloud access through Quantum Cloud Services (QCS).
Sector
Technology
Industry
Computer Hardware
Employees
162
Founded
2013
Headquarters
Berkeley, CA
Shares Outstanding
332.3M
Quantum Division
https://www.rigetti.com/technology
Physical Qubits
107 active
Cepheus-1-108Q
2Q Gate Fidelity
98.83%
1Q Gate Fidelity
99.84%
Hardware Type
Physical Qubits (Superconducting, Modular Chiplet)
Cloud Access
Roadmap Target
Lyra (336 qubits, late 2026 narrow advantage target); 1,000+ qubits by end of 2027; utility-scale ~2027–2029
Cepheus-1-108Q uses a modular 12×9-qubit chiplet architecture and became generally available in April 2026. Rigetti's live system status reported 107 active qubits, 99.84% median 1Q fidelity and 98.83% median 2Q fidelity when verified on July 28, 2026; live calibration figures can change. Ankaa-3 (84Q) was the prior GA system.
Competing Approaches
Big tech companies using the same Superconducting approach
Willow (105 qubits) achieved below-threshold error correction (Dec 2024); first verifiable quantum advantage via the Quantum Echoes (OTOC) algorithm — 13,000× faster than the top classical supercomputer, published in Nature (Oct 2025); expanded into neutral-atom quantum computing (Mar 2026)
Useful quantum computing beyond classical simulation by 2029
Willow
105
qubits
Nighthawk 120-qubit processor (Nov 2025) with 218 tunable couplers targets quantum advantage by end of 2026; experimental Loon chip (112 qubits) demonstrates fault-tolerant hardware building blocks
Quantum advantage by end of 2026; fault-tolerant Starling system 2029; 100,000+ qubit system by 2033
Nighthawk
120
qubits
Static data · These are diversified companies — not pure-play quantum investments · Updated Apr 2025
Total Cashⓘ
$418.25M
TTM Cash Burnⓘ
$58.54M
per year (TTM)
Cash Runwayⓘ
82 mo
Total Debtⓘ
$0.00
Red bars = cash burn (negative operating CF). Green = cash-flow positive. Source: SEC EDGAR 10-Q filings.
Total Revenueⓘ
$7.09M
Revenue Growth (YoY)ⓘ
-34.3%
Gross Marginsⓘ
29.12%
Operating Marginsⓘ
-1194.41%
Net Marginsⓘ
-3050.37%
Total Debtⓘ
$0.00
P/E Ratio (TTM)ⓘ
—
EPS (TTM)ⓘ
$-0.7000
Price / Bookⓘ
9.12
EPS (TTM)ⓘ
$-0.7000
Unprofitable
P/E Ratioⓘ
—
Price / Bookⓘ
9.12
Price-to-Book
1Y
3Y
5Y
Source: price_history vs SPY · Periods where price history is unavailable are hidden
Total Obligated
$12.10M
Awards Found
14
Source: USAspending.gov · Updated quarterly
Source: SEC EDGAR XBRL · 10-K and 10-Q filings · Rising trend = dilution
Rigetti Computing went public via SPAC merger with Supernova Partners Acquisition Company II (2022-03). SPAC warrants allow holders to buy shares at the strike price — exercising them creates new shares and dilutes existing holders.
Strike Price
$11.50
Outstanding
Not in filing
Dilution Ceiling
—
Dilution ceiling = outstanding warrants × strike price. Outstanding count changes as warrants are exercised or expire — sourced from latest SEC 10-K/20-F.
Latest Short Vol %
54%
2026-07-29
Short Volume
5,015,589
| Date | Short Vol | Total Vol | Short % |
|---|---|---|---|
| 2026-07-29 | 5,015,589 | 9,281,797 | 54% |
| 2026-07-27 | 5,997,818 | 12,085,036 | 49.6% |
| 2026-07-24 | 3,664,302 | 6,520,175 | 56.2% |
| 2026-07-22 | 10,294,789 | 21,893,151 | 47% |
| 2026-07-17 | 6,720,328 | 10,254,809 | 65.5% |
| 2026-07-16 | 7,135,836 | 11,876,612 | 60.1% |
| 2026-07-15 | 5,856,540 | 9,892,062 | 59.2% |
| 2026-07-13 | 8,326,929 | 12,717,574 | 65.5% |
| 2026-07-10 | 5,527,273 | 8,583,558 | 64.4% |
| 2026-07-09 | 5,001,407 | 8,453,133 | 59.2% |
Source: FINRA CNMS · Not the same as total short interest (outstanding positions) · Updated daily
Total Citations
43,237
Indexed Works
292
Avg Citations / Work
148.1
Source: OpenAlex · Citations to papers affiliated with Rigetti Computing · Updated weekly · View institution ↗
Equivariant Continuous Normalizing Flows with Offline Sampling for Fermionic Ground State Estimation
Real-Time Quantum Error Correction System Stack: Architecture, Algorithms, and Engineering Practice
Measuring Control-Plane Openness in Near-Term Quantum Computing: A Rubric, Its Validation, and an Application to Thirteen Vendor Stacks
Option Pricing on Noisy Intermediate-Scale Quantum Computers: A Quantum Neural Network Approach
Qurator: Scheduling Hybrid Quantum-Classical Workflows Across Heterogeneous Cloud Providers
Eliminating Vendor Lock-In in Quantum Machine Learning via Framework-Agnostic Neural Networks
Fictitious Copy Quantum Error Mitigation
Measurement-Free Ancilla Recycling via Blind Reset: A Cross-Platform Study on Superconducting and Trapped-Ion Processors
Source: arXiv.org API · Papers mentioning company name · Updated every 48 hours
Source: StockTwits · last 30 messages · updated every 4h
Source: Company newsroom (direct) + wire services (GlobeNewswire, PR Newswire) via Finnhub
Articles indexed every 4h · Sentiment scored via Loughran-McDonald financial word lists (bullish/bearish keyword frequency). Not ML-based — scores reflect word presence only and may not capture context or sarcasm.
SEC Filings & Earnings Reports
View annual, quarterly, and material-event filings on SEC EDGAR
FY 2025
Rigetti FY2025: Revenue grows YoY amid continued deep losses; $250M Quanta partnership anchors scale-up strategy
FY 2024
Rigetti Computing burns cash in FY2024 while launching 84-qubit Ankaa-3 and securing Quanta deal
Plans to release a 36-qubit modular system by mid-2025 (targeting 2x error rate reduction) and a 100+ qubit system by end of 2025. Quanta collaboration expected to fund component development. Additional capital raises likely required.
FY 2023
Rigetti Computing burns cash in quantum R&D push; runway extends only to mid-2025
Company targets 99% 2-qubit gate fidelity on Ankaa-3 (84-qubit) by end of 2024, then plans to scale to a 336-qubit Lyra system; near-term survival contingent on raising additional capital before early Q3 2025.
FY 2022
Rigetti Computing posts widening losses in FY2022 as quantum startup burns cash post-SPAC merger
Management expects continued operating losses for the foreseeable future. Near-term focus is on refining Ankaa-1 84-qubit system performance, targeting external customer launch, then scaling to Ankaa-2 and eventually the 336-qubit Lyra system. Additional capital raise anticipated by late 2024/early 2025.
FY 2021
Revenue
$0.00
Net Income
-$23.20M
Cash
$532.44K
Supernova II SPAC posts $23.2M net loss in FY2021; Rigetti merger pending with $147.5M PIPE
Completion of the Rigetti business combination is targeted; if not consummated by March 4, 2023, the SPAC must liquidate and redeem public shares at trust value (~$10.00/share). No operating revenue until deal closes.
10-K · 10-Q · 20-F · 40-F · 6-K filings
All Filings ↗| Date Filed | Form | Period Covered | |
|---|---|---|---|
| 2026-05-11 | 10-Q | 2026-03-31 | EDGAR ↗ |
| 2026-03-04 | 10-K | 2025-12-31 | EDGAR ↗ |
| 2025-11-10 | 10-Q | 2025-09-30 | EDGAR ↗ |
| 2025-08-12 | 10-Q | 2025-06-30 | EDGAR ↗ |
| 2025-05-12 | 10-Q | 2025-03-31 | EDGAR ↗ |
| 2025-03-07 | 10-K | 2024-12-31 | EDGAR ↗ |
| 2024-11-12 | 10-Q | 2024-09-30 | EDGAR ↗ |
| 2024-08-08 | 10-Q | 2024-06-30 | EDGAR ↗ |
| 2024-05-09 | 10-Q | 2024-03-31 | EDGAR ↗ |
| 2024-03-14 | 10-K | 2023-12-31 | EDGAR ↗ |
| 2023-11-09 | 10-Q | 2023-09-30 | EDGAR ↗ |
| 2023-08-10 | 10-Q | 2023-06-30 | EDGAR ↗ |
| 2023-05-11 | 10-Q | 2023-03-31 | EDGAR ↗ |
| 2023-03-27 | 10-K | 2022-12-31 | EDGAR ↗ |
| 2022-11-30 | 10-Q/A | 2022-06-30 | EDGAR ↗ |
| 2022-11-30 | 10-Q/A | 2022-03-31 | EDGAR ↗ |
| 2022-11-22 | 10-Q | 2022-09-30 | EDGAR ↗ |
| 2022-08-12 | 10-Q | 2022-06-30 | EDGAR ↗ |
| 2022-05-16 | 10-Q | 2022-03-31 | EDGAR ↗ |
| 2022-02-23 | 10-K | 2021-12-31 | EDGAR ↗ |
| 2021-11-15 | 10-Q | 2021-09-30 | EDGAR ↗ |
| 2021-08-13 | 10-Q | 2021-06-30 | EDGAR ↗ |
| 2021-06-16 | 10-Q | 2021-03-31 | EDGAR ↗ |
Source: SEC EDGAR · Annual: 10-K / 20-F / 40-F · Quarterly: 10-Q / 6-K · AI summaries generated automatically
Earnings releases, contracts, leadership changes, offerings
All 8-Ks ↗Source: SEC EDGAR · Material events, earnings releases, contract announcements · Updated weekly
S-3 shelf registrations, 424B prospectuses, and document-verified foreign-issuer supplements represent potential dilution events. Rigetti Computing has 66 such filings on record.
All Shelf Filings ↗Source: SEC EDGAR · S-3 = shelf registration, 424B3/B5 = active offering (dilutive)
SC 13G/D filers · >5% ownership
All 13G/D ↗| Institution | Form | % Owned | Filed |
|---|---|---|---|
| SC 13G/A | 7.90% | 2026-07-29 | |
| SC 13G | 7.11% | 2025-07-29 | |
| SC 13G/A | 6.40% | 2025-07-17 | |
| SC 13G | 5.95% | 2026-04-29 | |
| SC 13G | 5.05% | 2026-04-30 | |
| SC 13G | 0.00% | 2024-12-05 | |
| SC 13D/A | 0.00% | 2024-11-27 | |
| SC 13D/A | 0.00% | 2024-11-19 |
Source: SEC EDGAR SC 13G/D · Updated monthly
Open-market buys and sells by directors and officers
All Form 4s ↗90-Day Activity
| Filed | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-22 | ▼ SELL | 84,944 | $20.55 | |
| 2026-06-10 | ▲ BUY | 9,208 | — | |
| 2026-06-10 | ▼ SELL | 5,971 | $21.76 | |
| 2026-06-10 | ▼ SELL | 116,217 | $21.28 | |
| 2026-06-10 | ▲ BUY | 9,208 | — | |
| 2026-06-10 | ▲ BUY | 9,208 | — | |
| 2026-06-10 | ▲ BUY | 9,208 | — | |
| 2026-06-01 | ▼ SELL | 61,000 | $24.38 | |
| 2026-06-01 | ▼ SELL | 43,190 | $26.23 | |
| 2026-06-01 | ▲ BUY | 33,490 | $1.41 | |
| 2026-06-01 | ▲ BUY | 111,111 | $1.05 | |
| 2026-06-01 | ▲ BUY | 70,000 | $0.9638 | |
| 2026-06-01 | ▼ SELL | 499,328 | $25.40 | |
| 2026-06-01 | ▲ BUY | 393 | $0.2720 | |
| 2026-06-01 | ▲ BUY | 3,541 | $0.2720 | |
| 2026-06-01 | ▲ BUY | 33,053 | $0.2720 | |
| 2026-06-01 | ▲ BUY | 75,131 | $0.2720 | |
| 2026-05-26 | ▼ SELL | 30 | $25.63 | |
| 2026-05-26 | ▼ SELL | 18,729 | $22.95 | |
| 2026-05-26 | ▼ SELL | 13 | $25.63 | |
| 2026-05-26 | ▼ SELL | 3,669 | $22.94 | |
| 2026-03-11 | ▲ BUY | 80,000 | — | |
| 2026-03-11 | ▼ SELL | 36,719 | $17.52 | |
| 2026-03-11 | ▼ SELL | 4,270 | $17.52 | |
| 2026-01-05 | ▼ SELL | 59,316 | $22.41 | |
| 2025-12-10 | ▼ SELL | 150,000 | $27.34 | |
| 2025-11-21 | ▼ SELL | 41,935 | $26.34 | |
| 2025-11-21 | ▼ SELL | 3,702 | $26.35 | |
| 2025-10-17 | ▼ SELL | 62,000 | $44.89 | |
| 2025-09-22 | ▼ SELL | 17,634 | $24.75 |
Source: SEC EDGAR Form 4 · Open-market buys and sells · Updated daily
Generated from live analyst targets, SEC filings and market data as of August 2026 — not investment advice.
▲ THE BULL CASE
• Wall Street's mean price target of $30.07 implies 88% upside — consensus rating Buy across 11 analysts.
• 8 of 12 analyst ratings are Buy or Strong Buy.
• $418.25M in cash gives roughly 82 months of runway at the current burn rate.
• $12.10M in U.S. federal contracts and grants across 14 awards validates the technology with government customers.
• Retail sentiment on StockTwits runs 71% bullish over the last 17 scored posts.
▼ THE BEAR CASE
• Revenue declined 34% year-over-year to $7.09M (latest fiscal year).
• 66 at-the-market / shelf offering filings (S-3 / 424B / SUPPL) on record, though the most recent was filed over a year ago.
• Not yet profitable: net loss of $216.21M in the latest fiscal year.
Rigetti Computing has roughly 82 months of cash runway as of August 2026 — $418.25M in cash divided by its trailing-twelve-month operating burn.
Rigetti Computing has received $12.10M in U.S. federal contracts and grants across 14 tracked awards (USAspending.gov).
Dilution risk is elevated: 66 shelf/ATM offering filings on record.
Rigetti Computing's Cepheus-1-108Q has 107 active physical qubits and is generally available; its roadmap targets Lyra (336 qubits, late 2026 narrow advantage target); 1,000+ qubits by end of 2027; utility-scale ~2027–2029.
54% of RGTI's daily trading volume was short selling as of 2026-07-29 (FINRA daily short volume).