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Rigetti Computing valued $4.9B above cash despite low recurring revenue and ongoing losses

Market News
11 Sep 2026
Seeking Alpha
View Source
Neutral
Rigetti Computing valued $4.9B above cash despite low recurring revenue and ongoing losses

Rigetti Computing, Inc. carries a market valuation about $4.9 billion above its cash holdings, even though its recurring system access revenue is minimal at $143K for the first half of 2026. Most of its revenue comes from research contracts and hardware sales, with commercial adoption still limited. The company remains far from profitability, with gross profit covering only 7% of operating expenses. However, Rigetti has credible engineering capabilities and sufficient liquidity, supported by Quanta and federal funding, to continue developing its hardware for several years before needing additional financing.

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