RGTI
Rigetti Computing, Inc.Evidence as of 2026-09-04Overview · Rigetti Computing, Inc.
Rigetti Computing, Inc. operates as an integrated systems company. The company builds quantum computers and the superconducting quantum processors that power them. Its machines are integrated into various public, private, or hybrid clouds through its Quantum Cloud Services platform. Rigetti Computing, Inc. was founded in 2013 and is based in Berkeley, California.
Management team
- Mr. David Rivas · Chief Technology OfficerFind on LinkedIn
- Mr. Mike Pelstring · Senior Vice President of EngineeringFind on LinkedIn
- Ms. Jackie Kaweck · Senior Vice President of Human ResourcesFind on LinkedIn
- Mr. Richard Danis · General Counsel & Corporate SecretaryFind on LinkedIn
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Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it — not a rating or a recommendation.
−0.5 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled — the rest of the page is the evidence behind it.
The desk’s evidence balance is Cautious (‑0.5 of a possible +2; confidence high). Reported weighted average diluted shares outstanding rose from 325,024,000 in the quarter ended 30 September 2025 to 335,437,000 in the quarter ended 31 March 2026 (3mo), with period‑end shares reported at 330,026,078 as of 6 November 2025 and 333,768,747 as of 3 August 2026. Net income swung from a loss of ‑$200,968,000 in the quarter ended 30 September 2025 to income of $33,109,000 in the quarter ended 31 March 2026 (3mo), then to a loss of ‑$52,606,000 in the quarter ended 30 June 2026 (3mo).
Operational metrics show a mixed picture: gross profit increased from $404,000 (quarter ended 30 September 2025) to $1,377,000 (quarter ended 31 March 2026) and $2,188,000 (quarter ended 30 June 2026), while operating loss widened from ‑$20,549,000 (quarter ended 30 September 2025) to ‑$25,951,000 (quarter ended 31 March 2026) and ‑$28,062,000 (quarter ended 30 June 2026). R&D expense rose to $20,728,000 in the quarter ended 30 June 2026. Cash and cash equivalents were reported at $26,133,000 as of 30 September 2025, rose to $48,146,000 as of 31 March 2026, then declined to $27,763,000 as of 30 June 2026; trailing twelve‑month free cash flow is negative $75,809,000 and diluted EPS ttm is ‑$0.97.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else — no outside knowledge, no browsing — so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC — revenue, margins, income, debt and share count, quarter by quarter — and reports which way the trend is running.
Weighted average diluted shares outstanding were 325,024,000 in the quarter ended 30 September 2025 and rose to 335,437,000 in the quarter ended 31 March 2026 (3mo), with period-end shares outstanding reported at 330,026,078 as of 6 November 2025 and 333,768,747 as of 3 August 2026.
XBRL companyfacts · 0001104659-25-109141Net income (loss) moved from a loss of -200,968,000 in the quarter ended 30 September 2025 to income of 33,109,000 in the quarter ended 31 March 2026 (3mo), and then to a loss of -52,606,000 in the quarter ended 30 June 2026 (3mo).
XBRL companyfacts · 0001104659-25-109141Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full — its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet — its risk analysis fills in once that lands.
An 8-K filed August 20, 2026 reports that Dr. Ray Johnson notified the company of his resignation from the Board of Directors, effective August 28, 2026, and states his decision was not due to any disagreement with the company on any matter relating to the company’s operations, policies or practices.
8-K filed 2026-08-20A Form 10-Q for the period covering the quarter ended prior to August 6, 2026 was filed on August 6, 2026.
10-Q filed 2026-08-06Reads the signal panel above — momentum, volatility, drawdown, relative strength and beta — and ranks each against the whole research universe rather than judging it in isolation.
3-month momentum is -37.2% and 6-month momentum is -10.5% as of 2026-09-03.
Moneyta signal set · 2026-09-03Maximum drawdown over the past 3 years is -77.1%, with a 3-year drawdown rank at the 3th percentile of a 547-stock universe as of 2026-09-03.
Moneyta signal set · 2026-09-03Reads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
Institutional holders reported total holdings of $2.75B as of the 13F period ended 2026-03-31.
13F holdings · 455 filers · as of 2026-03-31BlackRock, Inc. was listed as a top holder with $357.1M and D. E. Shaw & Co., Inc. was listed with $196.0M in the 13F for the period ended 2026-03-31.
13F holdings · 455 filers · as of 2026-03-31Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Coverage on 4 September 2026 frames Rigetti in the context of Quantum Computing as a Service and describes the company as an active participant in that market shift.
News · simplywall.st · 2026-09-04A 4 September 2026 headline asks whether investors should buy Rigetti based on bullish Wall Street views, signaling investment-oriented coverage rather than purely technical or product-focused reporting.
News · zacks.com · 2026-09-04Reads parsed Forms 3/4/5 — who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
David Rivas (listed as CHIEF TECHNOLOGY OFFICER on the filing) sold "499328" shares for a reported value of "$12.7M" on 2026-05-29.
Form 4 · Rivas David (CHIEF TECHNOLOGY OFFICER) · $20k code M · 2026-05-29Subodh K. Kulkarni (President and CEO) sold "61000" shares for a reported value of "$1.5M" on 2026-06-01.
Form 4 · Kulkarni Subodh K (President and CEO) · $1.5M sold · 2026-06-01Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
As of the price date 2026-09-03 the share price used in this analysis was $15.18.
Valuation inputs · SEC XBRL + stored EOD closeTrailing twelve‑month free cash flow (FCF) is negative $75,809,000 (FCF_ttm = -75,809,000), and FCF per share is negative $0.2275.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score — the argument is shown, not hidden, so you can judge the reasoning yourself.
The filings and reported financials provide primary-source evidence that Rigetti has shown operational progress: gross profit rose each reported quarter (documented in the Form 10-Q filings) and the company reported a quarter with positive net income (March 31, 2026). Institutional holdings reported on the 13F (notably BlackRock and D.E. Shaw) indicate substantial third‑party capital committed to the equity as of the 2026-03-31 filing. News coverage frames Rigetti as an active participant in the emerging Quantum Computing as a Service market, which is reflected in recent thematic press pieces. These points are directly supported by company filings and SEC/13F records, which are strong primary sources; they jointly support a favorable read on operational progress and continued institutional interest. The bear case cites market volatility, drawdown, negative cash flow and insider sales — each visible in the record — but several insider sales are documented as executed under 10b5-1 plans and a board resignation filing explicitly states no disagreement with the company, weakening the bear narrative that these are company-specific governance red flags.
Chair's verdict, claim by claim
Fragility · computed, not argued
diversified0.27
36 surviving claims rest on 20 distinct sources; the heaviest analyst carries 17% of them, and 100% of what the desk raised survived the debate.
The surviving evidence draws on a moderate-sized source base but a relatively small number of analysts: one analyst accounts for a notable share of claims while the desk accepted all raised points without culling. That combination raises some fragility — the read is anchored in primary filings (higher trust) but still subject to analyst-concentration and potential group-confirmation effects, so treat each claim as informational rather than definitive.
Peer context · computed, not argued
12-1 momentum ranks 5th of 7 in Computer Hardware (as of 2026-09-03).
6-month relative strength ranks 7th of 7 in Computer Hardware (as of 2026-09-03).
90-day volatility ranks 2nd of 7 in Computer Hardware (as of 2026-09-03).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment — when the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here — no outside knowledge, no browsing — and each card shows who read it and what it contributed to the score.
10 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data — not retyped or estimated.
Read by Mercer+0.2 to the score
9 documents· 3 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes+0.0 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash−1.5 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.0 to the score
4 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
10 filings· 2 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state — stated and inferred flags kept apart.
Read by Talbot−1.0 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal — the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
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Educational analysis of published data. Moneyta does not give investment advice or make recommendations.