Is the business good?
How good a business is RGTI?
Rigetti Computing, Inc. earns −15% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−15%
Return on invested capital · cost of capital 9.0% · 24 points below what the capital costs: growth destroys value
- Operating margin
- −728%
Operating margin · Computer Hardware median 4.9% · 12 months to Q2 2026
- Share count, year on year
- +12%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 547%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2022 | −833% |
| FY2023 | −602% |
| FY2024 | −635% |
| FY2025 | −1194% |
Details›
- Gross margin12 months to Q2 2026
- 35%
- Operating margin12 months to Q2 2026
- −728%
- Net margin12 months to Q2 2026
- −1787%
- Free cash flow margin
- −656%
- R&D as % of revenue
- 547%
- Revenue, trailing twelve months
- $13M
- Free cash flow, trailing twelve months
- −$88M
- Net income, trailing twelve months
- −$239M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −15%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Computer Hardware
Ranks #9 of 11 by Smart Score