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Rigetti Computing Inc

Rigetti Computing Inc

RGTI
$14.11USD↑+0.07%+0.01 today

MARKET CAP

4.7B

P/E (TTM)

—

FWD P/E

—

DAY RANGE

$13 – $15

52W RANGE

$13
$58

AI Summary

Stalk
Sell NowMedium

RGTI is entrenched in a Stage 4 decline with decisive support failure and a persistent sequence of lower highs and lower lows. Price remains below all key EMAs, underscoring ongoing supply dominance. Medium-term directional bias is strongly bearish and short-term timing conditions remain unfavorable, with no clear signs of exhaustion. Accordingly, execution should be Sell Now on rallies into EMAs or the broken support zone turned resistance to participate in the downtrend continuation.

  • ↑Cash on hand of $569M with zero debt underpins R&D and scale.
  • ↑Q1 2026 revenue jumped 193% YoY to $4.4M, driven by on-premises demand.
  • ↓Q1 operating loss increased to $26M on $27.3M in Opex.
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The case for & against

Bull & Bear analysis

Bearish

Rigetti Computing, Inc. (NASDAQ: RGTI) is a pioneering company in the quantum computing industry, specializing in superconducting qubit technology to create scalable quantum systems. Positioned as a leader in this emerging field, Rigetti offers cloud-accessible quantum computing solutions primarily to government, academic, and commercial markets. Their commitment to advancing quantum technology is demonstrated through continuous investments in R&D, aiming for practical applications of quantum computing over the next few years.

Bull says

  • ↑Cash on hand of $569M with zero debt underpins R&D and scale.
  • ↑Q1 2026 revenue jumped 193% YoY to $4.4M, driven by on-premises demand.
  • ↑Launched 108-qubit system targeting >99.5% gate fidelity by year-end.
  • ↑Strong pipeline from government and institutional contracts bolsters sales outlook.
  • ↑Macro tailwinds from anticipated quantum funding support industry growth.
  • ↑High liquidity and positive dividend yield attract income-focused investors.

Bear says

  • ↓Q1 operating loss increased to $26M on $27.3M in Opex.
  • ↓Revenue variability remains high due to contract timing risks.
  • ↓Stock trades at 272x forward P/S versus 4x peer median.
  • ↓Elevated short interest reflects market skepticism and adds volatility.
  • ↓Weak profitability metrics and negative earnings yield deter investors.
  • ↓High operational expenses and leverage risk threaten funding runway.

Investment themes with RGTI

MEME↓ -2.09%

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Short Squeeze↓ -0.30%

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Julian Komar's Best Winners (Screen Results)↓ -0.50%

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Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-13-2026neutral

Transcript signals

Bull points

  • We entered into a strategic partnership agreement with Quanta, and more importantly, there was a commitment on both sides to invest. We continue to invest in the quantum computing side.
  • three years we think is a realistic timeline to get all the metrics in the right place to deliver quantum advantage.
  • We are already using adiabatic CZ in our CPS-108Q, but it's not a very fast gates adiabatic CZ that we have been able to get at the prototype stage.

Bear points

  • we are still in the early stages, so hard to quantify the usage and uplift over 36 qubit.
  • if quantum advantage is three years away for you guys, is it safe to say that it's two chip cycles away?
  • For example, we expect a meaningful portion of previously announced Novera purchase orders to be recognized in the first half of 2026, and we are executing on additional system-level contracts, such as the CDAC order we announced earlier this year. While the timing of revenue recognition can move between quarters, these contracts underscore growing demand for regated QPUs and systems among national labs, universities, and quantum computing centers.
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