Rigetti Computing, Inc.
RGTI, RGTIW · Services-Computer Programming Services · 332.4M shares · +137%/yr ↑ dilution · EDGAR filings ↗
Reference price $20.55 · est. market cap ~$6.8B — last insider sale, 2026-06-22 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D42Quantum-computing company with deep losses and heavy cash burn, very cash-rich.
Strengths
- Extremely cash-rich — current ratio 37.4 (100th)
Risks
- Deep losses — ROE -40%, ROA -32%
- Heavy cash burn — FCF -$77M (11th)
- Unproven commercialization — per 10-K
Notable findings
- Restatement● We have in the past identified material weaknesses in our internal control over financial reporting, leading to a restatement of our financial statements for prior periods 8-K ↗
- Cash burnNegative free cash flow (-77.2M)
- Material weakness● We have in the past identified material weaknesses in our internal control over financial reporting, leading to a restatement of our financial statements for prior periods
- Chronic dilutionShare count +137%/yr over 3y (dilution, book value/share -73%)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, RENAISSANCE TECHNOLOGIES LLC
- Exec changeRecent 8-K item 5.02 8-K ↗
- Insider sellingInsider selling — 13 open-market sale(s) by 5 insider(s) (cluster of 5 insiders, ~$22M, last 6mo) Form 4 ↗
- Revenue declineRevenue -63.7% YoY
- Notable holderHeld by 4 notable fund(s): STATE STREET CORP, CITADEL ADVISORS LLC, GOLDMAN SACHS GROUP INC +1 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
-39.6%
Return on assets
-32.4%
Revenue growth (QoQ)
-63.7%
Current ratio
37.4×
Free cash flow
-$77M
EBITDA
-$77M
Tangible book value
$546M
Cash & investments
$45M
Cash runway
2q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-22 | Johnson Ray O | Sell | 85K | $20.55 |
| 2026-06-09 | Fitzgerald Alissa | Grant | 9.2K | — |
| 2026-06-09 | Iannotti Thomas J | Grant | 9.2K | — |
| 2026-06-09 | Johnson Ray O | Grant | 9.2K | — |
| 2026-06-09 | Clifton Michael S. | Grant | 9.2K | — |
| 2026-06-08 | Johnson Ray O | Sell | 6.0K | $21.76 |
| 2026-06-08 | Johnson Ray O | Sell | 116K | $21.28 |
| 2026-06-01 | Kulkarni Subodh K | Sell | 61K | $24.38 |
| 2026-05-29 | Rivas David | Option exercise | 75K | $0.27 |
| 2026-05-29 | Rivas David | Option exercise | 33K | $0.27 |
| 2026-05-29 | Rivas David | Option exercise | 3.5K | $0.27 |
| 2026-05-29 | Rivas David | Option exercise | 393 | $0.27 |
| 2026-05-29 | Rivas David | Sell | 499K | $25.40 |
| 2026-05-28 | Kulkarni Subodh K | Sell | 43K | $26.23 |
| 2026-05-28 | Kulkarni Subodh K | Option exercise | 70K | $0.96 |
| 2026-05-28 | Kulkarni Subodh K | Option exercise | 111K | $1.05 |
| 2026-05-28 | Kulkarni Subodh K | Option exercise | 33K | $1.41 |
| 2026-05-22 | Bertelsen Jeffrey A. | Sell | 3.7K | $22.94 |
| 2026-05-22 | Bertelsen Jeffrey A. | Sell | 13 | $25.63 |
| 2026-05-22 | Rivas David | Sell | 19K | $22.95 |
| 2026-05-22 | Rivas David | Sell | 30 | $25.63 |
| 2026-03-10 | Bertelsen Jeffrey A. | Sell | 4.3K | $17.52 |
| 2026-03-10 | Rivas David | Sell | 37K | $17.52 |
| 2026-03-10 | Rivas David | Grant | 80K | — |
| 2026-01-02 | Fitzgerald Alissa | Sell | 59K | $22.41 |
| 2025-12-09 | Clifton Michael S. | Sell | 150K | $27.34 |
| 2025-11-20 | Bertelsen Jeffrey A. | Sell | 3.7K | $26.35 |
| 2025-11-20 | Rivas David | Sell | 42K | $26.34 |
| 2025-10-17 | Sandford Helene Gail | Sell | 62K | $44.89 |
| 2025-09-19 | Sandford Helene Gail | Sell | 1 | $26.98 |
| 2025-09-19 | Sandford Helene Gail | Sell | 18K | $24.75 |
| 2025-09-12 | Sandford Helene Gail | Sell | 2.6K | $18.19 |
| 2025-09-12 | Iannotti Thomas J | Option exercise | 100K | $1.17 |
| 2025-09-12 | Iannotti Thomas J | Sell | 100K | $19.50 |
| 2025-09-12 | Sandford Helene Gail | Sell | 7.8K | $17.09 |
| 2025-09-12 | Sandford Helene Gail | Sell | 12K | $19.27 |
| 2025-09-12 | Sandford Helene Gail | Sell | 2.6K | $19.92 |
| 2025-09-12 | Johnson Ray O | Sell | 126K | $20.00 |
| 2025-09-12 | Clifton Michael S. | Sell | 25K | $17.00 |
| 2025-09-12 | Clifton Michael S. | Sell | 50K | $20.00 |
| 2025-09-09 | Clifton Michael S. | Sell | 100K | $15.39 |
| 2025-08-20 | Bertelsen Jeffrey A. | Sell | 3.9K | $14.84 |
| 2025-08-20 | Rivas David | Sell | 44K | $14.85 |
| 2025-08-14 | Iannotti Thomas J | Sell | 100K | $16.70 |
| 2025-08-14 | Iannotti Thomas J | Option exercise | 100K | $1.17 |
| 2025-07-17 | Clifton Michael S. | Sell | 25K | $17.00 |
| 2025-07-16 | Johnson Ray O | Sell | 40K | $15.00 |
| 2025-07-16 | Clifton Michael S. | Sell | 25K | $15.00 |
| 2025-06-12 | Fitzgerald Alissa | Sell | 77K | $12.71 |
| 2025-06-10 | Clifton Michael S. | Sell | 25K | $12.00 |
| 2025-06-10 | Iannotti Thomas J | Grant | 15K | — |
| 2025-06-10 | Johnson Ray O | Grant | 15K | — |
| 2025-06-10 | Sandford Helene Gail | Sell | 48K | $11.19 |
| 2025-06-10 | Sandford Helene Gail | Grant | 15K | — |
| 2025-06-10 | Clifton Michael S. | Grant | 15K | — |
| 2025-06-10 | Fitzgerald Alissa | Grant | 15K | — |
| 2025-06-09 | Clifton Michael S. | Sell | 50K | $11.76 |
| 2025-05-21 | Bertelsen Jeffrey A. | Sell | 3.8K | $11.89 |
| 2025-05-21 | Bertelsen Jeffrey A. | Sell | 8.7K | $11.95 |
| 2025-05-21 | Rivas David | Sell | 45K | $11.89 |
| 2025-05-20 | Kulkarni Subodh K | Option exercise | 1.0M | $0.96 |
| 2025-05-20 | Kulkarni Subodh K | Sell | 1.0M | $12.00 |
| 2025-05-19 | Bertelsen Jeffrey A. | Option exercise | 219K | $0.60 |
| 2025-05-19 | Bertelsen Jeffrey A. | Sell | 219K | $11.64 |
| 2025-03-14 | Rivas David | Sell | 275K | $9.12 |
| 2025-03-11 | Rivas David | Sell | 352K | $7.76 |
| 2025-03-11 | McCarthy Cathy L | Sell | 150K | $8.00 |
| 2025-03-10 | Bertelsen Jeffrey A. | Grant | 200K | — |
| 2025-03-10 | Rivas David | Grant | 200K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-11 | Shareholder vote | filing ↗ |
| 2026-05-21 | 3.02Reg FDOtherExhibits | filing ↗ |
| 2026-05-11 | ResultsExhibits | filing ↗ |
| 2026-04-21 | Material agreementExhibits | filing ↗ |
| 2026-04-07 | Reg FDOtherExhibits | filing ↗ |
| 2026-03-20 | Exec/director change | filing ↗ |
| 2026-03-04 | ResultsExhibits | filing ↗ |
| 2026-01-20 | Reg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-11 | 2026-06-09 | 0001104659-26-072623 ↗ |
| 8-K | 2026-05-21 | 2026-05-20 | 0001104659-26-064861 ↗ |
| 10-Q | 2026-05-11 | 2026-03-31 | 0001104659-26-058641 ↗ |
| 8-K | 2026-05-11 | 2026-05-11 | 0001104659-26-058635 ↗ |
| 8-K | 2026-04-21 | 2026-04-17 | 0001104659-26-045994 ↗ |
| 8-K | 2026-04-07 | 2026-04-07 | 0001104659-26-040377 ↗ |
| 8-K | 2026-03-20 | 2026-03-19 | 0001104659-26-032720 ↗ |
| 10-K | 2026-03-04 | 2025-12-31 | 0001104659-26-023454 ↗ |
| 8-K | 2026-03-04 | 2026-03-04 | 0001104659-26-023446 ↗ |
| 8-K | 2026-01-20 | 2026-01-20 | 0001104659-26-004828 ↗ |
| 8-K | 2026-01-09 | 2026-01-09 | 0001104659-26-002328 ↗ |
| 10-Q | 2025-11-10 | 2025-09-30 | 0001104659-25-109141 ↗ |