Rigetti Computing, Inc.

RGTI 10-Q · Q1 2026

RGTI Q1 2026 request

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Income Statement

Income Statement
Metric Q1 2026 Q1 2025 YoY
Revenue From Contract With Customer Including Assessed Tax 4,400 1,472 +198.9%
Show Product Lines breakouts
Access to quantum computing systems 55 140 -60.7%
Collaborative research and professional services 1,299 1,332 -2.5%
Sales of quantum computers and quantum components 3,046
Show Business Segments breakouts
Single reportable segment 4,400 1,472 +198.9%
Show Timing Of Transfer Of Good Or Service breakouts
Transferred At Point In Time 3,046
Transferred Over Time 1,354 1,472 -8.0%
Cost of Revenue 3,022 1,030 +193.4%
Gross Profit 1,378 442 +211.8%
Research & Development 19,957 15,455 +29.1%
Selling, General & Administrative 7,372 6,619 +11.4%
Operating Expenses 27,329 22,074 +23.8%
Operating Income -25,951 -21,632 -20.0%
Interest Income 5,363 2,152 +149.2%
Fair Value Adjustment Of Warrants 53,697 53,262 +0.8%
Show Class Of Warrant Or Right breakouts
Private Warrants 10 7.8 +28.2%
Public Warrants 45.5 43.7 +4.1%
Non-Operating Income (Expense) 59,060 64,251 -8.1%
Income Before Taxes 33,109 42,619 -22.3%
Net Income 33,109 42,619 -22.3%
Show Business Segments breakouts
Single reportable segment 33,109 42,619 -22.3%
Show Equity Components breakouts
Retained Earnings 33,109 42,619 -22.3%
Net Income Loss Diluted Earnings Per Share -20,588 38,256 -153.8%
EPS (Basic) 0.1 0.15 -33.3%
EPS (Diluted) -0.06 0.13 -146.2%
Wtd Avg Shares (Basic) 332,059 284,698 +16.6%
Show Equity Components breakouts
Warrant 315,518 791,576 -60.1%
Wtd Avg Shares (Diluted) 335,437 301,595 +11.2%
Revenue (Q)
Show Business Segments breakouts
Single reportable segment 4,400 1,472 +198.9%
Single reportable segment · Asia 3,030 74 +3994.6%
Single reportable segment · Europe 592 1,013 -41.6%
Single reportable segment · US 778 385 +102.1%
Comprehensive Income 31,406 42,426 -26.0%
Communications And Information Technology (Q)
Show Business Segments breakouts
Single reportable segment 1,374 1,323 +3.9%
Depreciation And Amortization (Q)
Show Business Segments breakouts
Single reportable segment 2,615 1,829 +43.0%
Labor And Related Expense (Q)
Show Business Segments breakouts
Single reportable segment 10,570 8,932 +18.3%

Balance Sheet

Balance Sheet
Metric Q1 2026 Q1 2025 YoY
Current Assets
Cash & Cash Equivalents 48,146 37,162 +29.6%
Debt Securities Available For Sale Excluding Accrued Interest Current 370,100
Show Financial Instrument breakouts
Available-for-sale investments - long-term 150,736
Available-for-sale investments - short-term 370,100
US treasury securities, long term 150,736
US treasury securities, short term 370,100
Show Cash And Cash Equivalents breakouts
Cash Equivalents 13,512
Money Market Funds 13,512
Accounts Receivable 4,376 1,068 +309.7%
Prepaid Expense Current 2,242 2,124 +5.6%
Other Assets Current 7,341 2,041 +259.7%
Total Current Assets 432,205 214,361 +101.6%
Non-Current Assets
Debt Securities Available For Sale Excluding Accrued Interest Noncurrent 150,736
Property, Plant & Equipment 57,589 46,100 +24.9%
Operating Lease Right-of-Use Assets 6,054 7,609 -20.4%
Total Assets 650,684 269,138 +141.8%
Other Assets
Other Assets 4,100 1,068 +283.9%
Current Liabilities
Accounts Payable 4,071 3,401 +19.7%
Accounts Payable And Other Accrued Liabilities Current 5,596 5,665 -1.2%
Derivative Liabilities Current 48,874
Deferred Revenue (Current) 1,064 147 +623.8%
Operating Lease Liability Current 2,274 2,179 +4.4%
Total Current Liabilities 61,879 11,392 +443.2%
Non-Current Liabilities
Contract With Customer Liability Noncurrent 698 698 0.0%
Operating Lease Liabilities 4,509 6,230 -27.6%
Total Liabilities 67,086 62,010 +8.2%
Stockholders' Equity
Common Stock 33 29 +13.8%
Additional Paid In Capital Common Stock 1,322,119 719,315 +83.8%
Accumulated Other Comprehensive Income -706 -88 -702.3%
Retained Earnings -737,848 -512,128 -44.1%
Total Stockholders' Equity 583,598 207,128 +181.8%
Show Equity Components breakouts
Accumulated Other Comprehensive Income -706 -88 -702.3%
Additional Paid In Capital 1,322,119 719,315 +83.8%
Common Stock 33 29 +13.8%
Retained Earnings -737,848 -512,128 -44.1%
Total Liabilities & Equity 650,684 269,138 +141.8%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q1 2026 YTD Q1 2025 YoY
Operating Activities
Net Income 33,109 42,619 -22.3%
Depreciation 2,615 1,829 +43.0%
Stock-Based Compensation 5,890 4,174 +41.1%
Debt Securities Available For Sale Unrealized Gain Loss -1,388 -1,423 +2.5%
Non Cash Lease Expense 419 384 +9.1%
Change in Accounts Receivable -1,825 1,359 -234.3%
Change in Prepaid & Other Assets -2,998 1,379 -317.4%
Change in Deferred Revenue 217 34 +538.2%
Change in Accounts Payable 1,615 747 +116.2%
Increase Decrease In Accrued Expenses And Other Current Liabilities -173 -2,654 +93.5%
Net Cash from Operations -16,216 -13,651 -18.8%
Investing Activities
Capital Expenditures -4,411 -2,547 -73.2%
Purchases of Investments -100,779 -44,062 -128.7%
Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities 125,000 23,000 +443.5%
Net Cash from Investing 19,810 -23,609 +183.9%
Financing Activities
Proceeds From Stock Options Exercised 51 327 -84.4%
Show Range breakouts
Maximum 0.1 0.3 -66.7%
Proceeds From Warrant Exercises 30 409 -92.7%
Net Cash from Financing 81 6,935 -98.8%
Supplemental
Purchases Of Property And Equipment Recorded In Accounts Payable 1,222 1,408 -13.2%
Right Of Use Asset Obtained In Exchange For Operating Lease Liability 62
Adjustment To Additional Paid In Capital Reclassification Of Derivative Liabilities Upon Exercise Of Public Warrants 22 257 -91.4%
Unrealized Gain Loss On Investments -1,312 -8 -16300.0%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents -380 -187 -103.2%
Net Change in Cash 3,295 -30,512 +110.8%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations 48,146 37,162 +29.6%

Values in thousands USD. Source: SEC EDGAR 10-Q filing.

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