Overview
- Rigetti shares have surged more than 2,400% since January 2023, making the stock a standout among quantum names.
- A $1,000 investment five years ago would be worth about $2,370 today, reflecting a 96% plunge into 2023, a 5,000% rebound to an early‑2025 peak above a $5.5 billion market cap, and a subsequent drop of more than 50%.
- Reported revenue was just $1.9 million in the first quarter, down 18% year over year.
- The company recorded a GAAP net loss of $201 million in the third quarter, highlighting ongoing unprofitability.
- CEO Subodh Kulkarni projects meaningful commercial sales are at least three to five years away, while the stock trades at roughly 824 times sales versus about 9 for typical tech, underscoring the speculative nature of the bet.