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Rigetti Computing, Inc., through its subsidiaries, builds quantum computers and the superconducting quantum processors. The company offers cloud in a form of quantum processing unit, such as 9-qubit chip and Ankaa-2 system under the Novera brand name; and sells access to its quantum computers through quantum computing as a service. It also provides quantum cloud services that provides various range of support in programming, public or private clouds integration, and connectivity, as well as quantum operating system software that supports both public and private cloud architectures. In addition, the company offers professional services, such as algorithm development, benchmarking, quantum application programming, and software development. The company serves commercial enterprises, government organizations, and international government entities. It has operations in the United States and the United Kingdom. Rigetti Computing, Inc. was founded in 2013 and is headquartered in Berkeley, California.
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Rigetti builds superconducting quantum processors and offers cloud quantum computing services and developer tools for commercial and research customers. Long-term growth may be driven by hardware scaling, better qubit fidelity, wider cloud and enterprise adoption, and software integration, appealing to investors seeking exposure to a vertically integrated quantum hardware and services company.
The primary investment risks are persistent unprofitability and cash burn that may require additional financing, significant technological and execution challenges in commercializing error-corrected quantum systems, and intense competition from better-funded rivals that could slow adoption.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2023-01-31 | 2022-01-31 | 2021-01-31 | 2020-01-31 |
|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly |
| Date | 2023-01-31 | 2022-01-31 | 2021-01-31 | 2020-01-31 |
| Income before tax | -71.52M | -38.24M | -26.13M | -53.82M |
| Net income | -36.49M | -35.78M | -17.21M | -54.87M |
| Selling general administrative | 47.63M | 11.30M | 13.16M | 16.16M |
| Selling and marketing expenses | 6.35M | 2.47M | 1.89M | 2.54M |
| Gross profit | 10.23M | 6.57M | 4.05M | 0.45M |
| Reconciled depreciation | 7.02M | - | 4.30M | 3.94M |
| Ebit | -103.70M | -40.71M | -35.09M | -47.70M |
| Ebitda | -94.25M | -36.06M | -39.71M | -43.38M |
| Depreciation and amortization | 9.45M | 4.65M | -4.61M | 4.32M |
| Operating income | -103.70M | -40.71M | -35.09M | -47.70M |
| Other operating expenses | 116.81M | 42.32M | 40.63M | 48.44M |
| Interest expense | 5.29M | 2.47M | 0.05M | 0.67M |
| Tax provision | 0.00M | - | - | - |
| Interest income | 2.43M | - | - | - |
| Net interest income | -2.85M | - | 0.01M | -0.67M |
| Income tax expense | -35.03M | -2.47M | -8.92M | 1.05M |
| Total revenue | 13.10M | 8.20M | 5.54M | 0.74M |
| Total operating expenses | 113.93M | 40.70M | 39.14M | 48.15M |
| Cost of revenue | 2.87M | 1.62M | 1.49M | 0.29M |
| Total other income expense net | 32.18M | 2.47M | 8.96M | -6.11M |
| Net income from continuing ops | -71.52M | - | -26.13M | -53.82M |
| Net income applicable to common shares | -71.52M | -41.72M | -26.13M | -53.82M |
| Breakdown | 2024-01-31 | 2023-01-31 | 2022-01-31 | 2021-01-31 | 2020-01-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2024-01-31 | 2023-01-31 | 2022-01-31 | 2021-01-31 | 2020-01-31 |
| Total assets | 159.91M | 203.44M | 46.43M | 49.68M | 27.49M |
| Other current assets | 2.71M | 2.45M | 0.24M | 1.04M | 1.13M |
| Total liab | 50.33M | 53.22M | 117.96M | 85.11M | 155.90M |
| Total stockholder equity | 109.59M | 150.22M | -71.53M | -35.43M | -128.41M |
| Other current liab | 8.56M | 8.21M | 4.04M | 1.60M | 2.96M |
| Common stock | 0.01M | 0.01M | 0.00M | 0.00M | 0.00M |
| Capital stock | 0.01M | 0.01M | 0.00M | 0.00M | 0.00M |
| Retained earnings | -353.76M | -278.65M | -207.13M | -168.89M | -142.76M |
| Other liab | - | 2.97M | 4.65M | 0.38M | 0.30M |
| Good will | - | 0.00M | 5.38M | 5.38M | 5.38M |
| Other assets | - | 0.13M | 0.48M | 0.45M | 0.44M |
| Cash | 21.39M | 57.89M | 11.73M | 22.20M | 0.31M |
| Total current liabilities | 29.05M | 21.75M | 8.28M | 3.20M | 34.80M |
| Current deferred revenue | 0.34M | 0.96M | 0.98M | 0.49M | 1.85M |
| Net debt | 9.17M | -18.75M | 13.06M | -22.20M | 26.58M |
| Short term debt | 14.37M | 10.65M | 1.29M | - | 26.89M |
| Short long term debt | 12.16M | 8.30M | 1.29M | - | 26.89M |
| Short long term debt total | 30.57M | 39.14M | 24.79M | - | 26.89M |
| Other stockholder equity | 463.09M | 225.58M | 135.55M | 133.41M | 14.36M |
| Property plant equipment | - | 48.85M | 22.50M | 20.14M | 20.04M |
| Total current assets | 107.67M | 154.47M | 18.07M | 23.72M | 1.62M |
| Net tangible assets | - | 150.22M | -76.91M | -40.80M | -133.79M |
| Short term investments | 78.54M | 84.92M | - | - | - |
| Net receivables | 5.03M | 6.24M | 1.54M | 0.48M | 0.19M |
| Long term debt | 9.89M | 20.64M | 23.50M | - | - |
| Inventory | 0.00M | 2.97M | 4.56M | - | - |
| Accounts payable | 5.77M | 1.94M | 1.97M | 1.11M | 3.10M |
| Accumulated other comprehensive income | 0.24M | -0.16M | 0.05M | 0.06M | -0.02M |
| Non currrent assets other | 0.13M | 0.13M | 0.48M | 0.45M | 0.44M |
| Non current assets total | 52.25M | 48.98M | 28.36M | 25.96M | 25.86M |
| Capital lease obligations | 8.51M | 10.20M | - | - | - |
| Breakdown | 2023-01-31 | 2022-01-31 | 2021-01-31 | 2020-01-31 |
|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly |
| Date | 2023-01-31 | 2022-01-31 | 2021-01-31 | 2020-01-31 |
| Investments | -107.02M | -84.29M | -4.40M | -2.94M |
| Change to liabilities | -0.73M | 0.11M | -3.65M | 3.95M |
| Total cashflows from investing activities | -107.02M | -7.64M | -4.40M | -2.94M |
| Net borrowings | 3.71M | 29.45M | 2.20M | 17.11M |
| Total cash from financing activities | 215.45M | 25.58M | 56.29M | 18.74M |
| Change to operating activities | 3.10M | 1.22M | 2.03M | 0.37M |
| Net income | -71.52M | -38.24M | -26.13M | -53.82M |
| Change in cash | 45.84M | -10.47M | 21.89M | -21.11M |
| Begin period cash flow | 12.05M | 22.52M | 0.63M | 21.73M |
| End period cash flow | 57.89M | 12.05M | 22.52M | 0.63M |
| Total cash from operating activities | -62.69M | -29.04M | -30.07M | -36.89M |
| Issuance of capital stock | - | - | 54.02M | 0.00M |
| Depreciation | 7.02M | 4.65M | 4.30M | 3.94M |
| Change to inventory | - | - | 2.00M | - |
| Change to account receivables | -4.69M | -1.06M | -2.29M | 2.23M |
| Other cashflows from financing activities | 210.68M | 25.45M | 2.27M | 21.58M |
| Change to netincome | 3.23M | 4.23M | -6.32M | 8.35M |
| Capital expenditures | 22.74M | 7.01M | 4.40M | 3.09M |
| Change in working capital | -2.33M | 2.78M | -1.92M | 4.63M |
| Stock based compensation | 44.81M | 1.77M | 2.59M | 2.78M |
| Other non cash items | -40.67M | 2.78M | -8.91M | 5.57M |
| Free cash flow | -85.43M | -36.05M | -34.47M | -39.98M |
Sector: Technology Industry: Computer Hardware
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| RGTI Rigetti Computing Inc |
-0.47 4.19% |
10.64 | - | - | 16.86 | 1.85 | 11.08 | -2.15 |
| SNDK Sandisk Corp |
-67.25 6.88% |
910.44 | 21.05 | 6.87 | 11.07 | 14.44 | 11.00 | 16.82 |
| STX Seagate Technology PLC |
-10.41 1.89% |
541.31 | 57.81 | 22.52 | 14.39 | 84.53 | 15.20 | 43.61 |
| DELL Dell Technologies Inc |
-16.61 4.45% |
357.06 | 24.44 | 15.65 | 1.22 | 4.39 | 1.34 | 12.81 |
| ANET Arista Networks |
2.87 1.46% |
199.55 | 39.49 | 31.45 | 13.08 | 11.15 | 12.18 | 31.54 |
Rigetti Computing, Inc., through its subsidiaries, builds quantum computers and the superconducting quantum processors. The company offers cloud in a form of quantum processing unit, such as 9-qubit chip and Ankaa-2 system under the Novera brand name; and sells access to its quantum computers through quantum computing as a service. It also provides quantum cloud services that provides various range of support in programming, public or private clouds integration, and connectivity, as well as quantum operating system software that supports both public and private cloud architectures. In addition, the company offers professional services, such as algorithm development, benchmarking, quantum application programming, and software development. The company serves commercial enterprises, government organizations, and international government entities. It has operations in the United States and the United Kingdom. Rigetti Computing, Inc. was founded in 2013 and is headquartered in Berkeley, California.
| Name | Title | Year Born |
|---|---|---|
| Dr. Chad Rigetti | Founder & Director | 1979 |
| Mr. Brian J. Sereda | Chief Financial Officer | 1961 |
| Dr. Subodh K. Kulkarni Ph.D. | CEO & Pres | 1965 |
| Mr. Michael Harburn | Chief Technology Officer | 1970 |
| Mr. Richard Danis | Gen. Counsel & Corp. Sec. | 1970 |
| Ms. Jackie Kaweck | Sr. VP of HR | NA |
| Mr. Mike Pelstring | Sr. VP of Engineering | NA |
| Mr. David Rivas | Sr. VP of Systems & Services | NA |
| Mr. Greg Peters | Chief Revenue Officer | 1960 |
| Dr. Subodh K. Kulkarni Ph.D. | CEO, President & Director | 1965 |
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