Rigetti Computing, Inc. (RGTI) Stock Price & Analysis
Rigetti Computing, Inc. (RGTI) closed at USD 11.48 on Thursday, October 22, 2026, down 4.73% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 12.05; the Oct 22, 2026 session ranged USD 11.29–11.97 on volume of 13,175,047 shares. Market capitalization is $3.83B, with a 52-week range of USD 11.11–44.52 (NCM). Source: Nexqual, retrieved October 23, 2026 at 10:31 UTC.
Also available as compact Markdown for AI agents: nexqual.com/RGTI.md
Key facts (RGTI)
- Last four reported quarters (through Jun 30, 2026): revenue $13.4M, net income -$239M (-1787.4% margin), free cash flow -$87.6M (SEC filings).
- Insider open-market sales, last ~7 months: 11 Form 4 filings, $22.7M; 7 not under a Rule 10b5-1 plan ($16.1M); 0 by opportunistic insiders, 3 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.23 on a 1–5 scale) (13 analysts), mean target USD 28.53 (range 17.3–40).
- Total return with dividends: 1Y -71.0% vs S&P 500 +14.9%; 5Y +13.9% vs S&P 500 +80.3%.
- Next earnings: 2026-11-10, EPS estimate USD -0.05, revenue estimate $3.7M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (RGTI)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | — | $13.1M | $12.0M | $10.8M | $7.1M | $13.4M |
| Gross profit | — | $10.2M | $9.2M | $5.7M | $2.1M | — |
| Operating income | -$4.9M | -$109M | -$72.3M | -$68.5M | -$84.7M | -$97.2M |
| Net income | -$23.2M | -$71.5M | -$75.1M | -$201M | -$216M | -$239M |
| EPS (diluted) | — | -$0.70 | -$0.57 | -$1.09 | -$0.70 | — |
| Free cash flow | — | -$85.4M | -$59.6M | -$61.7M | -$77.2M | -$87.6M |
| Gross margin | — | 78.1% | 76.7% | 52.8% | 29.1% | — |
| Operating margin | — | -832.5% | -602.1% | -634.9% | -1194.4% | -727.6% |
| Net margin | — | -545.9% | -625.5% | -1862.7% | -3050.4% | -1787.4% |
| Revenue growth | — | — | -8.3% | -10.1% | -34.3% | — |
| Cash + short-term investments | $11.7M | $143M | $99.9M | $192M | $444M | — |
| Total debt | $27.6M | $28.9M | $22.1M | $0K | — | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (RGTI)
P/S 286.9x · P/B 7.1x · FCF yield -2.29% · Earnings yield -6.23%
Insider sales (SEC Form 4, open-market, last ~7 months) (RGTI)
4 of 11 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-09 | Kulkarni Subodh K | President and CEO | 120,000 | $1.9M | 46.1% | Yes (adopted June 10, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-03 | Bertelsen Jeffrey A. | CHIEF FINANCIAL OFFICER | 25,000 | $375K | 12.9% | Yes (adopted June 4, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-20 | Bertelsen Jeffrey A. | CHIEF FINANCIAL OFFICER | 3,860 | $65K | 2.2% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-20 | Rivas David | CHIEF OPERATING OFFICER | 9,038 | $152K | 2.8% | No | Routine (sold in Mar & May & Aug & Nov each year 2023–2025) |
| 2026-08-20 | Bestwick Andrew Joseph | CHIEF TECHNOLOGY OFFICER | 5,791 | $97K | 0.6% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-22 | Johnson Ray O | Director | 84,944 | $1.7M | 47.1% | Yes (adopted March 12, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-08 | Johnson Ray O | Director | 122,188 | $2.6M | 40.4% | Yes (adopted March 12, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-28…2026-06-01 | Kulkarni Subodh K | President and CEO | 104,190 | $2.6M | 48.6% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-29 | Rivas David | CHIEF TECHNOLOGY OFFICER | 499,328 | $12.7M | 60.5% | No | Routine (sold in Mar & May & Aug & Nov each year 2023–2025) |
| 2026-05-22 | Bertelsen Jeffrey A. | CHIEF FINANCIAL OFFICER | 3,682 | $84K | 2.1% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-22 | Rivas David | CHIEF TECHNOLOGY OFFICER | 18,759 | $431K | 2.6% | No | Routine (sold in Mar & May & Aug & Nov each year 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (RGTI)
Consensus Buy (mean 2.23 on a 1–5 scale), 13 analysts; mean target USD 28.53 (low 17.3, high 40).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-07 | Rosenblatt | Maintained | Buy | $40 |
Total return (dividends reinvested) (RGTI)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -71.0% | +13.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -71.1% | +2.6% |
| Volatility (annualized) | 93.9% | 121.7% |
| Max drawdown | -74.1% (Oct 2025→Oct 2026) | -96.6% (Nov 2021→May 2023) |
RGTI suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Amazon (AMZN) | “Our partners and customers include commercial enterprises such as Amazon Web Services ("AWS") Standard Chartered Bank and Moody's, along with U.S. government organizations such as Defense Advanced Research Projects Agency ("DARPA"), Department of Energy ("DOE"), and Air Force Research Laboratory ("AFRL"), and international government entities such as India's Centre for Development of Advanced Computing ("C-DAC"), …” |
| Customer | Microsoft (MSFT) | “We have distribution agreements with Amazon's Braket service and Microsoft's Azure Quantum Service, providing access to our quantum computing systems to AWS and Azure customers.” |
| Partner | Trinity Capital Inc. (TRIN) | “On December 9, 2024, we prepaid in full all amounts owed under our Amended Loan Agreement with Trinity Capital Inc. We prepaid an aggregate of $9.5 million in outstanding principal balance, final payment fees of $0.9 million, plus accrued interest and a prepayment premium aggregating $0.1 million.” |
| Partner | Quanta Computer | “On February 27, 2025, the Company entered into a Collaboration Agreement (the "Collaboration Agreement") with Quanta Computer Inc., a Taiwan corporation ("Quanta").” |
Quoted from the company's 10-K filed Mar 4, 2026.
Companies that name RGTI in their SEC reports
| Relationship to RGTI | Company | Filing | Sentence |
|---|---|---|---|
| partner | Horizon Quantum Holdings Ltd. (HQWWW) | 20-F Apr 14, 2026 | “The company has a joint marketing agreement with Rigetti, covering Rigetti's Novera QPU, its newest quantum processor, and Horizon's” |
RGTI company outlook (results filed Aug 6, 2026)
- “Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements other than as required by applicable law.”
Quoted word-for-word from the SEC 8-K results press release.
RGTI analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.05 | $-0.05 | -0.3% | $3.7M | 8 |
| Next quarter (ends Dec 2026) | $-0.05 | $-0.05 | +6.7% | $10.0M | 8 |
| Current fiscal year (ends Dec 2026) | $-0.19 | $-0.18 | +1.4% | $23.3M | 10 |
| Next fiscal year (ends Dec 2027) | $-0.21 | $-0.20 | +2.4% | $43.9M | 10 |
RGTI options: expected move
Options price a move of about ±17.2% (±$1.97) by Nov 13, 2026, which includes earnings on Nov 10, 2026; the earnings reaction alone is priced at about ±10.0%. Over the last 8 reports the stock moved ±6.2% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 67.5% | ±8.0% |
| Nov 6, 2026 | 14 | 72.4% | ±11.8% |
| Nov 13, 2026 | 21 | 87.4% | ±17.2% |
| Nov 20, 2026 | 28 | 76.9% | ±17.3% |
| Nov 27, 2026 | 35 | 75.0% | ±18.8% |
| Dec 4, 2026 | 42 | 81.6% | ±22.2% |
| Dec 18, 2026 | 56 | 76.2% | ±23.7% |
| Jan 15, 2027 | 84 | 75.1% | ±28.5% |
30-day implied volatility 78% vs 59.6% realized over the last 30 trading days. Put/call ratio (volume) 0.36. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 10:31 UTC)
| Price | USD 11.48 |
|---|---|
| Change | ▼ 4.73% (down) |
| Previous Close | USD 12.05 |
| Open | USD 11.54 |
| Day Range | USD 11.29 – 11.97 |
| 52-Week Range | USD 11.11 – 44.52 |
| Volume | 13,175,047 shares |
| Market Cap | $3.83B |
| Exchange | NCM |
Technical Analysis (RGTI)
Nexqual's technical model rates RGTI "SELL" based on 1 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 10:31 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 30.72 (neutral) |
| vs SMA50 | Below (USD 15.26) |
| MACD | -1.12 (negative) |
Analyst Ratings (RGTI)
Wall Street analysts rate RGTI "Buy" based on 13 analysts, with a mean price target of USD 28.53 (range USD 17.3–40), per Nexqual as of October 23, 2026 at 10:31 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 13 |
| Mean Target | USD 28.53 |
| High Target | USD 40 |
| Low Target | USD 17.3 |
| Buy / Hold / Sell | 9 / 4 / 0 |
Earnings (RGTI)
| Next Earnings Date | 2026-11-10 |
|---|---|
| EPS Estimate | USD -0.05 |
| Revenue Estimate | $3.68M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.05 vs est -0.05 ▼ miss |
| 2026-03-31 | USD -0.04 vs est -0.04 ▲ beat |
| 2025-12-31 | USD -0.03 vs est -0.03 ▲ beat |
| 2025-09-30 | USD -0.03 vs est -0.04 ▲ beat |
Source: Nexqual, October 23, 2026 at 10:31 UTC.
Financials & Fundamentals (RGTI)
| Total Revenue | $13.35M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +185.30% |
| Gross Margin | +34.61% |
| Operating Margin | -546.17% |
| Profit Margin | +0.00% |
| ROE | -43.77% |
| Debt / Equity | 0.01 |
| Current Ratio | 3.94 |
| Total Cash | $393.71M |
| Total Debt | $7.70M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | -$87.58M (-655.9% of revenue) |
Source: Nexqual, October 23, 2026 at 10:31 UTC.
Financial Health Score (RGTI)
Nexqual rates Rigetti Computing, Inc.'s overall financial health "Weak" across five dimensions, as of October 23, 2026 at 10:31 UTC.
| Growth | Critical — Revenue -34% YoY (annual), sharp decline |
|---|---|
| Profitability | Critical — Heavily loss-making — early-stage company |
| Balance Sheet | Strong — $394M cash vs $8M debt, net cash position |
| Cash Flow | Weak — FCF negative: -$88M (last 4 quarters to Jun 2026, SEC), burning cash |
| Efficiency | Critical — ROE -44%, ROA -9.5% |
Ownership (RGTI)
| Insider Ownership | +1.74% |
|---|---|
| Institutional Ownership | +54.34% |
| Shares Outstanding | 333.77M |
| Float | 327.96M |
| Short % of Float | +19.76% |
Source: Nexqual, October 23, 2026 at 10:31 UTC.
Leadership (RGTI)
Rigetti Computing, Inc. is led by Subodh K. Kulkarni, CEO, President & Director, per Nexqual as of October 23, 2026 at 10:31 UTC.
| CEO, President & Director | Subodh K. Kulkarni |
|---|---|
| Chief Financial Officer | Jeffrey A. Bertelsen |
| Chief Operating Officer | David Rivas |
| Chief Technology Officer | Andrew Bestwick |
| Senior Vice President of Human Resources | Jackie Kaweck |
Major Backers & Investors (RGTI)
Notable institutional backers of Rigetti Computing, Inc. include UBS Group AG, Shaw D.E. & Co., Inc., Morgan Stanley, according to Nexqual as of October 23, 2026 at 10:31 UTC.
Active Investors
| Investor | Stake |
|---|---|
| UBS Group AG | 1.94% |
| Shaw D.E. & Co., Inc. | 1.61% |
| Morgan Stanley | 1.42% |
| Fidelity | 1.1% |
| Unicom Systems, Inc. | 1.06% |
| Defiance Etfs, LLC | 1.03% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 10.28% |
| BlackRock | 8.55% |
| State Street | 3.54% |
| Geode Capital | 2.6% |
Source: Nexqual, October 23, 2026 at 10:31 UTC.
From Rigetti Computing, Inc.'s Latest SEC 10-K Filing (filed 2026-03-04)
Key Strengths & Strategy (as disclosed to the SEC)
- Rigetti Quantum Cloud Services ("QCS") is a proprietary platform to deliver high-performance quantum computing over the cloud.
- We have distribution agreements with Amazon's Braket service and Microsoft's Azure Quantum Service, providing access to our quantum computing systems to AWS and Azure customers.
- Joining us in this work were Amazon Web Services (AWS), Imperial College London, and Standard Chartered.
- We have developed, own and operate the distinctive manufacturing capabilities needed to produce quantum processors in our proprietary scalable architecture.
Partnerships
- Further, in connection with the Collaboration Agreement, in April 2025 Quanta purchased approximately $35 million of shares of Common Stock at approximately $11.59 per share, pursuant to a securities purchase agreement.
Legal & Regulatory Risks (Item 1A, quoted)
- Our employees and personnel may use generative AI technologies to perform their work, and the disclosure and use of personal information in generative AI technologies is subject to various privacy laws and other privacy obligations.
- We are also bound by contractual obligations related to data privacy and security, and our efforts to comply with such obligations may not be successful.
- Government contracts are also generally subject to greater scrutiny by the government, which can initiate reviews, audits and investigations regarding our compliance with government contract requirements.
- We are subject to U.S. and foreign anti-corruption, anti-bribery and similar laws, and non-compliance with such laws can subject us to criminal or civil liability and harm our business.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| QBTS | D-Wave Quantum Inc. | USD 11.63 | ▼ 3.88% |
| IQMX | IQM Quantum Computers Oyj | USD 8.9 | ▼ 5.12% |
| QUBT | Quantum Computing Inc. | USD 6.59 | ▼ 3.37% |
| CRSR | Corsair Gaming, Inc. | USD 13.64 | ▼ 1.23% |
| CRCT | Cricut, Inc. | USD 6.41 | ▲ 1.26% |
| PSQL | Pasqal Holding SA | USD 5.65 | ▼ 8.28% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:31 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt