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US quantum-computing company building superconducting-qubit quantum computers, accessed via the cloud.
US quantum-computing company building superconducting-qubit quantum computers, accessed via the cloud.
Gets its small revenue from government and research contracts and from selling chips and small systems, such as its Novera quantum processor sold to labs, with cloud access through partners adding a little. It designs and fabricates chips in its own California plant and has funded itself by selling shares.
Moat: none (IP / patents). In-house chip fabrication is a differentiator, but it is a small player against IBM/Google in superconducting qubits.
Headquarters: Berkeley, California, US · Founded: 2013 · Employees: 164
Size RGTI (RGTI) is a United States Information Technology company (Computer Processing Hardware) with a market value of $3.92B, the 1359th largest of 3,117 United States companies the cockpit tracks. Shares closed at $11.75 on 6 Nov 2026.
Performance Over six months the shares fell 38.0%, against -11.5% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 19 in its peer set.
Growth Revenue grew 68.5% over the last twelve months (peer median +14.3%); the operating margin is -727.6% (peer median 4.4%).
Valuation It trades at 264.8× enterprise value to sales against a peer median of 1.1× (3rd most expensive of 20).
Capital Return on invested capital runs 66.3 points below its cost of capital (15.6% WACC).
Backlog Backlog (remaining performance obligations) was $2.70M at 30 Jun 2026, down 53% on a year earlier — 0.2 years of trailing revenue. Backlog detail →
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $13.4M | $7.09M | $10.8M | $12.0M | $13.1M |
| Revenue growth | — | -34% | -10% | -8% | — |
| Gross profit | -$5.31M | -$6.11M | -$1.21M | $100,000 | $2.67M |
| EBITDA | -$87.2M | -$76.5M | -$61.6M | -$62.2M | -$96.1M |
| Net income | -$239M | -$216M | -$201M | -$75.1M | -$71.5M |
| Free cash flow | -$87.6M | -$77.2M | -$61.7M | -$59.6M | -$85.5M |
| Capital expenditure | $26.9M | $18.7M | $11.1M | $9.06M | $22.7M |
| Total debt | $7.70M | $7.17M | $8.80M | $30.6M | $39.1M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| RGTI RGTI | $3.92B | -38% | +68% | -728% | 264.8× | n/a |
| IonQ IONQ | $14.0B | -34% | +371% | -392% | 48.5× | n/a |
| QBTS QBTS | $4.05B | -25% | -44% | -1,373% | 286.2× | n/a |
| IBM IBM | $232B | +6% | +7% | 21% | 4.1× | 7.6% |
| Alphabet Inc. (Class A) GOOGL | $3.47T | -29% | +22% | 33% | 7.2× | 18.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | RGTI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.9% | -5.8% | 4th lowest of 21 |
| 6-month return | -38.0% | -11.5% | 2nd lowest of 19 |
| Distance from 52-week high | -68.4% | -35.6% | 2nd lowest of 21 |
| Revenue growth (TTM) | +68.5% | +14.3% | highest of 19 |
| Operating margin | -727.6% | 4.4% | 2nd lowest of 20 |
| EV / Sales | 264.8× | 1.1× | 3rd most expensive of 20 |
| ROIC minus cost of capital | -66.3 pp | +1.3 pp | 2nd lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| RGTI RGTI | United States | $3.92B | -38% | +68% | -728% | 264.8× | n/a | n/a |
| QBTS QBTS | United States | $4.05B | -25% | -44% | -1,373% | 286.2× | n/a | n/a |
| Compal Electronics 2324.TW | Taiwan | $4.15B | +8% | -4% | 1% | 0.2× | n/a | n/a |
| Guangzhou Shiyuan Electronic Technology 002841.SZ | China | $4.37B | +13% | +35% | 8% | 0.8× | -2.7% | +7.3% |
| NCR Atleos NATL | United States | $3.49B | +7% | +2% | 14% | 1.3× | -9.2% | +1.8% |
| Venture V03.SI | Singapore | $3.22B | -21% | +1% | 10% | 1.1× | -1.3% | -3.4% |
| MiTAC 3706.TW | Taiwan | $2.98B | -16% | +44% | 4% | 0.9× | n/a | n/a |
| China Greatwall Technology 000066.SZ | China | $5.40B | -42% | +28% | -1% | 2.4× | n/a | n/a |
| Inventec 2356.TW | Taiwan | $5.71B | +12% | +16% | 2% | 0.3× | n/a | n/a |
| Lingyi iTech (Guangdong) 1688.HK | Hong Kong | $5.75B | n/a | +14% | 6% | 0.9× | n/a | n/a |
| Acer 2353.TW | Taiwan | $2.63B | +4% | +15% | 2% | 0.4× | n/a | n/a |
| Lakala Payment 300773.SZ | China | $2.32B | -25% | +17% | 4% | 1.1× | 14.2% | 0.0% |
| Getac 3005.TW | Taiwan | $2.20B | +19% | +9% | 15% | 1.7× | -7.0% | +7.2% |
| SeeYA Technology 688781.SS | China | $7.11B | +17% | n/a | n/a | n/a | n/a | n/a |
| Dongfang Electronics 000682.SZ | China | $2.06B | -21% | +14% | 7% | 1.2× | 8.9% | +17.4% |
| Pegatron 4938.TW | Taiwan | $7.52B | +14% | -6% | 1% | 0.2× | n/a | n/a |
| Infleqtion INFQ | United States | $2.00B | -27% | n/a | -315% | 67.0× | n/a | n/a |
| Willfar Information Technology 688100.SS | China | $1.98B | -28% | -9% | 20% | 4.8× | 17.0% | +15.5% |
| PCI Technology 600728.SS | China | $1.58B | -7% | +11% | 0% | 1.1× | 23.0% | +18.8% |
| Quantinuum QNT | United States | $9.89B | n/a | +35% | -644% | 336.4× | n/a | n/a |
| XGD 300130.SZ | China | $1.49B | -20% | +21% | 12% | 1.7× | 3.8% | +3.8% |
RGTI reported $2.70M of remaining performance obligations at 30 Jun 2026, down 53% from a year earlier and down 4% from the previous quarter. That is 0.2 years of trailing revenue already under contract. Book-to-bill last quarter: 0.98.