Rigetti Computing

RGTI

Computer Hardware · Technology

Price

$14.11

+0.01 (+0.07%)

Market Cap

$4.69B

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+1600.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 18.2M (2021) → 309.8M (2025)

Rigetti Computing, Inc. operates as an integrated systems company. The company builds quantum computers and the superconducting quantum processors that power them. Its machines are integrated into various public, private, or hybrid clouds through its Quantum Cloud Services platform. The company was founded in 2013 and is based in Berkeley, California.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-17.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+93.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$61M/ year

↑ Rising (+23% vs prior year)

865.5% of revenue

57.7x the sector average (15%)

Investing heavily in future products and technology

Insider Activity

1.4%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~7 months

$45M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Heavy R&D investment

Rigetti Computing is putting 865% of revenue into R&D and that number is rising. That's 57.7x the sector average.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

34.9%

Modest — 34.9% gross margin

Operating Margin

-1209.7%

Losing money on operations — -1209.7%

ROCE

-4.1%

Weak — -4.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-34.3%

Shrinking sales (-34.3% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-1089.4%

Burning cash (-1089.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.00

Conservative — low debt load (0.00)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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