In the rapidly evolving landscape of quantum computing, two companies stand out: Rigetti Computing, Inc. (RGTI) and Quantum Computing, Inc. (QUBT). Both operate within the computer hardware industry, yet they pursue distinct innovation strategies—Rigetti focuses on developing integrated quantum systems, while Quantum Computing emphasizes software tools for quantum applications. As I delve into their competitive advantages and market positioning, I aim to help you identify which company might be the more compelling investment opportunity.
Table of contents
Company Overview
Rigetti Computing, Inc. Overview
Rigetti Computing, Inc. is at the forefront of quantum computing technology, operating as an integrated systems company. Established in 2013 and based in Berkeley, California, Rigetti builds quantum computers and superconducting quantum processors. Its machines are accessible through a Quantum Cloud Services platform, allowing integration into various cloud environments. With a market capitalization of approximately $8.44B, Rigetti focuses on developing scalable quantum solutions that cater to both public and private sectors. The company’s mission is to make quantum computing universally accessible, empowering developers to harness its potential across diverse applications.
Quantum Computing, Inc. Overview
Quantum Computing, Inc., founded in 2018 and headquartered in Leesburg, Virginia, emphasizes the development of software tools and applications for quantum computers. The company offers Qatalyst, a quantum application accelerator designed for developers to create and execute applications on conventional computers, with readiness for quantum systems. With a market cap of about $1.60B, Quantum Computing, Inc. serves both commercial and governmental clients, positioning itself as a vital player in the quantum ecosystem. The company’s mission is to bridge the gap between classical and quantum computing, facilitating a smooth transition for businesses into the quantum era.
Key similarities and differences
Both Rigetti Computing and Quantum Computing, Inc. operate within the quantum computing sector, yet they diverge in their core focus. Rigetti develops hardware solutions and quantum processors, while Quantum Computing, Inc. specializes in software applications that enhance the usability of quantum technologies. Their complementary offerings position them uniquely within the growing quantum landscape, catering to different aspects of the industry.
Income Statement Comparison
In this section, I present a comparison of the most recent income statements for Rigetti Computing, Inc. (RGTI) and Quantum Computing, Inc. (QUBT) to help you assess their financial performance.
| Metric | Rigetti Computing, Inc. (RGTI) | Quantum Computing, Inc. (QUBT) |
|---|---|---|
| Market Cap | 8.44B | 1.60B |
| Revenue | 10.79M | 0.37M |
| EBITDA | -190.83M | -62.25M |
| EBIT | -197.73M | -66.05M |
| Net Income | -200.99M | -68.54M |
| EPS | -1.09 | -0.73 |
| Fiscal Year | 2024 | 2024 |
Interpretation of Income Statement
Over the past year, both companies have faced significant revenue challenges, with Rigetti reporting a revenue decline from 12.01M to 10.79M, while Quantum’s growth remained minimal at 0.37M. The EBITDA margins indicate persistent operational struggles, as both firms recorded substantial losses, with Rigetti’s EBITDA at -190.83M and Quantum’s at -62.25M. Notably, Rigetti’s net income worsened compared to the previous year, reflecting ongoing operational inefficiencies. In contrast, Quantum’s slight revenue improvement reflects potential stabilization in its business model, albeit with continued negative margins. Both companies are navigating a tough landscape, suggesting cautious investment consideration.
Financial Ratios Comparison
Below is a comparative analysis of the latest financial ratios for Rigetti Computing, Inc. (RGTI) and Quantum Computing, Inc. (QUBT):
| Metric | RGTI | QUBT |
|---|---|---|
| ROE | -158.77% | -63.89% |
| ROIC | -24.91% | -17.41% |
| P/E | -14.02 | -22.67 |
| P/B | 22.26 | 14.48 |
| Current Ratio | 17.42 | 17.36 |
| Quick Ratio | 17.42 | 17.36 |
| D/E | 0.0695 | 0.011 |
| Debt-to-Assets | 3.09% | 0.77% |
| Interest Coverage | -21.05 | -10.39 |
| Asset Turnover | 0.0389 | 0.0024 |
| Fixed Asset Turnover | 0.205 | 0.038 |
| Payout Ratio | 0% | -0.003 |
| Dividend Yield | 0% | 1.42% |
Interpretation of Financial Ratios
Both companies exhibit significant challenges, particularly with negative return metrics (ROE and ROIC). RGTI’s high price-to-book ratio suggests market skepticism about its growth potential despite a solid current and quick ratio. QUBT’s ratios indicate an even deeper financial distress, highlighted by poor asset efficiency and high debt levels compared to assets. Investors should approach these stocks with caution, considering potential risks and the need for effective turnaround strategies.
Dividend and Shareholder Returns
Rigetti Computing, Inc. (RGTI) does not pay dividends, reflecting its ongoing reinvestment strategy amid significant operational losses, with a net profit margin of -18.6% in 2024. The company is focused on innovation and growth, as evidenced by its share buyback initiatives, albeit at a minimal level. Quantum Computing, Inc. (QUBT) also refrains from dividend payments, prioritizing research and development during its high growth phase. Both companies’ lack of dividends indicates a commitment to long-term shareholder value creation, though investors should remain cautious of the inherent risks associated with their financial instability.
Strategic Positioning
In the competitive landscape of quantum computing, Rigetti Computing, Inc. (RGTI) holds a market cap of $8.44B, positioning itself well with its integrated quantum computing systems and Quantum Cloud Services. Quantum Computing, Inc. (QUBT), with a market cap of $1.60B, focuses on software tools for quantum applications, emphasizing interoperability with various quantum processors. Both companies face significant competitive pressure as technological advancements rapidly evolve, necessitating agility and innovation to maintain their market share.
Stock Comparison
In this section, I will analyze the weekly stock price movements of Rigetti Computing, Inc. (RGTI) and Quantum Computing, Inc. (QUBT) over the past year, highlighting key price dynamics and trends.
Trend Analysis
Rigetti Computing, Inc. (RGTI) Over the past year, RGTI has experienced a remarkable price change of +2431.68%. This substantial increase clearly indicates a bullish trend. However, it’s worth noting that the trend is currently experiencing deceleration despite notable highs of $46.38 and lows of $0.75. The standard deviation of 10.81 suggests a moderate level of volatility.
In the recent period from September 14, 2025, to November 30, 2025, the stock has seen a price change of -33.94%, indicating deceleration with a trend slope of -0.18. This short-term trend shows some weakening in performance, and the standard deviation of 8.78 reflects that volatility remains present.
Quantum Computing, Inc. (QUBT) QUBT has shown a significant price change of +1330.32% over the past year, also indicating a bullish trend. Similar to RGTI, this stock is facing deceleration, with a maximum price of $24.62 and a minimum of $0.50, alongside a standard deviation of 7.07, pointing to moderate volatility.
However, in the recent analysis period from September 14, 2025, to November 30, 2025, QUBT has experienced a decline of -31.22%, which suggests a bearish trend in this timeframe, with a trend slope of -1.09. The lower buyer volume in recent trading days indicates a seller-dominant market, which could impact future price movements.
In summary, while both stocks have shown substantial growth over the year, recent trends suggest a cautionary approach, particularly for QUBT, as it faces downward pressure in the short term.
Analyst Opinions
Recent analyst recommendations for Rigetti Computing, Inc. (RGTI) indicate a cautious stance, with an overall rating of C- due to low scores in discounted cash flow and return metrics. Analysts suggest holding off on new investments, citing high debt-to-equity ratios as a risk factor. Conversely, Quantum Computing, Inc. (QUBT) has a slightly better outlook with a C+ rating, reflecting stronger performance in debt management. The consensus for RGTI is to hold, while QUBT leans towards a cautious buy for long-term investors.
Stock Grades
In the ever-evolving landscape of investments, having access to reliable stock grades can significantly enhance decision-making. Here’s a breakdown of the recent ratings for Rigetti Computing, Inc. (RGTI) and Quantum Computing, Inc. (QUBT).
Rigetti Computing, Inc. Grades
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| B. Riley Securities | Maintain | Neutral | 2025-11-12 |
| Benchmark | Maintain | Buy | 2025-11-12 |
| B. Riley Securities | Downgrade | Neutral | 2025-11-03 |
| Benchmark | Maintain | Buy | 2025-10-07 |
| B. Riley Securities | Maintain | Buy | 2025-09-22 |
| Benchmark | Maintain | Buy | 2025-08-13 |
| Needham | Maintain | Buy | 2025-08-04 |
| B. Riley Securities | Maintain | Buy | 2025-07-23 |
| Benchmark | Maintain | Buy | 2025-05-15 |
| Needham | Maintain | Buy | 2025-05-14 |
Quantum Computing, Inc. Grades
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| Lake Street | Maintain | Buy | 2025-11-17 |
| Ascendiant Capital | Maintain | Buy | 2025-10-03 |
| Ascendiant Capital | Maintain | Buy | 2025-06-06 |
| Ascendiant Capital | Maintain | Buy | 2025-04-28 |
| Ascendiant Capital | Maintain | Buy | 2024-11-13 |
| Ascendiant Capital | Maintain | Buy | 2023-11-24 |
Overall, both companies exhibit a trend of stability in their stock ratings, with RGTI showing some fluctuations between neutral and buy ratings, while QUBT maintains a consistent buy rating across its assessments. This suggests that while RGTI may face some short-term challenges, QUBT appears to have a firm footing in the market. As always, I recommend staying informed and considering these grades in the context of your investment strategy.
Target Prices
The consensus target prices for Rigetti Computing, Inc. (RGTI) and Quantum Computing, Inc. (QUBT) indicate optimistic growth potential according to analysts.
| Company | Target High | Target Low | Consensus |
|---|---|---|---|
| Rigetti Computing, Inc. | 42 | 18 | 33.33 |
| Quantum Computing, Inc. | 40 | 10 | 22 |
Analysts expect RGTI’s stock price to potentially reach 33.33, significantly higher than its current price of 25.57. For QUBT, the consensus target is 22, while the stock trades at 11.69, suggesting room for growth.
Strengths and Weaknesses
In this section, I will analyze the strengths and weaknesses of Rigetti Computing, Inc. (RGTI) and Quantum Computing, Inc. (QUBT) to help you make informed investment decisions.
| Criterion | Rigetti Computing, Inc. (RGTI) | Quantum Computing, Inc. (QUBT) |
|---|---|---|
| Diversification | Low; focused on quantum computing technology | Low; primarily software for quantum applications |
| Profitability | Negative profit margins; significant losses | Negative profit margins; substantial operational losses |
| Innovation | Strong; active in quantum hardware | Moderate; focuses on software development |
| Global presence | Limited to the US market | Limited to the US market |
| Market Share | Niche market; emerging player | Niche market; emerging player |
| Debt level | Low debt-to-equity ratio (0.069) | Very low debt-to-equity ratio (0.011) |
Key takeaways indicate that both companies face challenges in profitability and market presence. However, Rigetti is notable for its strong innovation in quantum hardware, while Quantum Computing focuses on software development. Investors should weigh these factors carefully when considering potential investments.
Risk Analysis
Below is a summary table of potential risks associated with Rigetti Computing, Inc. (RGTI) and Quantum Computing, Inc. (QUBT).
| Metric | Rigetti Computing, Inc. | Quantum Computing, Inc. |
|---|---|---|
| Market Risk | High | High |
| Regulatory Risk | Moderate | High |
| Operational Risk | High | High |
| Environmental Risk | Low | Low |
| Geopolitical Risk | Moderate | Moderate |
Both companies face significant market and operational risks in the highly competitive quantum computing sector. RGTI’s high beta (1.647) indicates increased volatility, while QUBT has a concerning net profit margin of -183.76%. This makes both stocks sensitive to market fluctuations and operational challenges.
Which one to choose?
When comparing Rigetti Computing, Inc. (RGTI) and Quantum Computing, Inc. (QUBT), both companies are in the same emerging sector, yet their financial health and market performances differ significantly. RGTI shows a gross profit margin of 53%, but it faces negative operating margins and substantial debts, leading to a C- rating. On the other hand, QUBT has a C+ rating with similar challenges, including low revenue and high expenses, but with slightly better metrics in debt management.
RGTI has shown a bullish trend with a staggering 2431.68% price change over the year, while QUBT’s growth is more modest at 1330.32%. However, QUBT’s recent price performance indicates a decline of 31.22%.
For growth-oriented investors, RGTI may provide higher upside potential, while those seeking stability might consider QUBT for its slightly better financial management. Both companies carry risks typical of early-stage technology firms, such as intense competition and market dependence.
Disclaimer: This article is not financial advice. Each investor is responsible for their own investment decisions.
Go further
I encourage you to read the complete analyses of Rigetti Computing, Inc. and Quantum Computing, Inc. to enhance your investment decisions:
