Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Rigetti Computing, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
13.1
12
10.8
7.09
Cost of revenue
2.87
2.8
5.09
5.02
Gross profit
10.2
9.21
5.7
2.06
Research and development
60
52.8
49.8
61.3
Selling and marketing
6.35
General and administrative
4.9
54
27.7
24.5
25.4
Operating expenses
119
81.5
74.2
86.7
Operating income
-4.9
-109
-72.3
-68.5
-84.7
Interest expense
5.29
5.78
3.26
0
Interest income
2.43
5.08
5.11
16.6
Other non-operating income
37.6
-2.81
-132
-132
Pre-tax income
-71.5
-75.1
-201
-216
Income tax
0
0
0
0
Net income
-23.2
-71.5
-75.1
-201
-216
EBITDA
-102
-64.9
-61.6
-76.6
EPS, basic
-0.70
-0.57
-1.09
-0.70
EPS, diluted
-0.70
-0.57
-1.09
-0.70
Shares, basic (weighted)
102
132
185
310
Shares, diluted (weighted)
102
132
185
310
Balance sheet
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
11.7
57.9
21.4
67.7
44.9
Short-term investments
84.9
78.5
124
Receivables
1.54
6.24
5.03
2.43
2.55
Other current assets
1.35
2.45
0.77
9.08
5.51
Total current assets
18.1
154
108
207
455
Property, plant and equipment
22.5
39.5
44.5
44.6
57.1
Lease right-of-use assets
0
9.32
7.63
7.99
6.41
Goodwill
5.38
0
Long-term investments
0
25.1
Total assets
46.4
203
160
285
667
Accounts payable
1.97
1.94
5.77
1.59
3.49
Accrued liabilities
3.92
0.78
1.65
3.6
1.45
Deferred revenue
0.99
0.96
0.34
0.11
0.85
Short-term debt
0.58
8.3
12.2
0
Total current liabilities
7.57
21.8
29.1
11.9
12.2
Long-term debt
20.6
9.89
0
Lease liabilities
0
7.86
6.3
6.64
4.93
Total liabilities
36.4
53.2
50.3
158
120
Total debt
27
20.6
9.89
0
Paid-in capital
136
429
463
681
1,316
Retained earnings
-207
-279
-354
-555
-771
Other comprehensive income
0.05
-0.16
0.24
0.11
1
Shareholders' equity
-71.5
150
110
127
546
Total equity
-71.5
150
110
127
546
Total liabilities and equity
46.4
203
160
285
667
Shares outstanding
18.2
125
147
284
331
Cash flow statement
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-23.2
-71.5
-75.1
-201
-216
Depreciation and amortization
7
7.4
6.9
8.1
Stock-based compensation
44.8
12.4
13.1
17.6
Change in receivables
-4.69
1.21
2.6
-0.12
Change in payables
0.31
-0.71
0.9
-1.04
0.11
Cash from operations
-0.96
-62.7
-50.6
-50.6
-58.5
Capital expenditures
-22.7
-9.06
-11.1
-18.7
Purchases of investments
-84.3
-109
-225
-636
Sales and maturities of investments
0
119
158
251
Cash from investing
-345
-107
0.77
-78.4
-403
Stock issued
0
20.5
12.8
0
Cash from financing
346
215
13.2
175
439
Exchange rate effect
0.1
0.08
-0.19
-0.04
Net change in cash
0.53
45.8
-36.5
46.3
-22.8
Free cash flow
-85.4
-59.6
-61.7
-77.2
Interest paid
3.82
4.34
2.35
0
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $16.66 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
34.6%
Gross profit / revenue.
Operating margin
-727.6%
Operating income / revenue.
EBITDA margin
-653.3%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-1,787.0%
Pre-tax income / revenue.
Net margin
-1,787.0%
Net income / revenue.
FCF margin
-655.9%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-454.7%
Cash from operations / revenue.
Return on equity (ROE)
-44.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-36.8%
Net income / average total assets.
Return on invested capital (ROIC)
-15.1%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
547.1%
Research and development expense / revenue.
Stock-based pay / revenue
170.7%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
201.2%
Capital expenditures / revenue.
D&A / revenue
74.4%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-34.3%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-18.5%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y
-63.8%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-41.3%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
331.5%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
53.8%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
134.1%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
48.5%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
67.7%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
44.7%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
3.94x
Current assets / current liabilities.
Quick ratio
0.30x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.26x
(Cash + short-term investments) / current liabilities.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.04
Revenue / diluted weighted shares.
FCF per share
-$0.26
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.18
Cash from operations / diluted weighted shares.
Book value per share
$1.61
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
416x
Market cap / revenue.
P/B
10.3x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
10.3x
Market cap / tangible book value, when positive.
EV/Sales
414x
Enterprise value / revenue.
FCF yield
-1.6%
Free cash flow / market cap.
Earnings yield
-4.3%
Net income / market cap (the inverse of P/E).
What was Rigetti Computing, Inc.'s revenue in fiscal 2025?
Rigetti Computing, Inc. reported revenue of $7.1M for fiscal 2025, 34.3% lower than the year before.
Was Rigetti Computing, Inc. profitable in fiscal 2025?
No. It reported a net loss of $216.2M.
How much free cash flow did Rigetti Computing, Inc. generate in fiscal 2025?
Cash from operations of $58.5M minus capital expenditures of $18.7M left free cash flow of -$77.2M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.