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Rigetti Computing cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$27.8M in Q2 2026 · −$87.6M over twelve months

Operating cash flow−$15.8M
Capital spending−$12.0M
Free cash flow−$27.8M
Cash conversion cycle-206 days

Analysis

In Q2 2026, Rigetti Computing generated −$15.8M of operating cash flow and spent $12.0M on capital projects, leaving free cash flow of −$27.8M. That is $5.9M less than in Q2 2025 (−$21.8M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$60.7M; the largest uses were operating cash flow ($60.7M), capital spending ($26.9M); besides operations, cash came from other financing ($49.5M), other investing ($8.3M); the cash balance fell by $29.4M.

Operating cash flow was −$15.8M against net income of −$52.6M. The largest differences: stock-based pay +$7.0M, prepaid and other assets −$6.8M, depreciation & amortization +$2.9M.

Its cash conversion cycle was -206 days (receivables 73 + inventory 0 − payables 279): suppliers fund its working capital.

Free cash flow

Rigetti Computing: free cash flow by quarterRigetti Computing: free cash flow by quarter−$17.7MQ3 2024−$9.8MQ4 2024−$16.2MQ1 2025−$21.8MQ2 2025−$19.7MQ3 2025−$19.5MQ4 2025−$20.6MQ1 2026−$27.8MQ2 2026
Operating cash flow less capital spending.
Rigetti Computing: operating cash flow against capital spendingRigetti Computing: operating cash flow against capital spendingOperating cash flowCapital spending−$15.4M$2.3MQ3 2024−$8.5M$1.3MQ4 2024−$13.7M$2.5MQ1 2025−$16.2M$5.7MQ2 2025−$13.8M$5.9MQ3 2025−$14.9M$4.6MQ4 2025−$16.2M$4.4MQ1 2026−$15.8M$12.0MQ2 2026
Latest (Q2 2026): Operating cash flow −$15.8M, Capital spending $12.0M.

Capital allocation, year by year

Rigetti Computing: where the cash came from (up) and went (down), by fiscal yearRigetti Computing: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingFY2021: Operating cash flow −$962KFY2021: Shares issued $345M$345MFY2021FY2022: Operating cash flow −$62.7MFY2022: Net borrowing $3.7MFY2022: Shares issued $1.0MFY2022: Capital spending −$22.7M$4.7MFY2022FY2023: Operating cash flow −$50.6MFY2023: Net borrowing −$8.3MFY2023: Shares issued $21.6MFY2023: Capital spending −$9.1M$21.6MFY2023FY2024: Operating cash flow −$50.6MFY2024: Net borrowing −$23.3MFY2024: Shares issued $13.4MFY2024: Capital spending −$11.1M$13.4MFY2024FY2025: Operating cash flow −$58.5MFY2025: Shares issued $2.0MFY2025: Capital spending −$18.7M$2.0MFY2025
Over these 5 years operating cash flow totalled −$223M; the largest uses were operating cash flow ($223M) and capital spending ($61.6M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$449M
Debtnone
Net cash$449M
Cash runway5.1 years

Rigetti Computing is burning cash: its operations consume cash, a free cash flow of −$87.6M a year at the current rate against $449M of cash and investments: a runway of about 5.1 years before any new financing.

Where the cash came from and went

Rigetti Computing: sources (+) and uses (−) of cash, Q2 2026Rigetti Computing: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$20.4MOperating cash flow−$15.8MCapital spending−$12.0MOther investing$7.2MShares issued$330KExchange rates−$185KOther financing$68K
Rigetti Computing: sources (+) and uses (−) of cash, TTM to Q2 2026Rigetti Computing: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow−$60.7MOther financing$49.5MCash drawn (+) / kept (−)$29.4MCapital spending−$26.9MOther investing$8.3MShares issued$930KExchange rates−$569K

From profit to cash

Rigetti Computing: net income to operating cash flow, Q2 2026Rigetti Computing: net income to operating cash flow, Q2 2026Net income−$52.6MDepreciation & amortization$2.9MStock-based pay$7.0MReceivables$511KPayables$1.0MDeferred revenue$2.3MPrepaid and other assets−$6.8MOperating cash flow−$15.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202673—279-206
Q1 202671—113-42
Q4 2025119—256-137
Q3 202595—162-67
Q2 202571—205-134
Q1 2025107—218-111
Q4 2024178—11663
Q3 2024225—13590

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$15.8M−$12.0M—$330K$20.4M−$27.8M
Q1 2026−$16.2M−$4.4M—$51K−$3.3M−$20.6M
Q4 2025−$14.9M−$4.6M—$183K−$18.7M−$19.5M
Q3 2025−$13.8M−$5.9M—$366K$31.1M−$19.7M
Q2 2025−$16.2M−$5.7M—$1.1M−$20.0M−$21.8M
Q1 2025−$13.7M−$2.5M—$327K$30.5M−$16.2M
Q4 2024−$8.5M−$1.3M−$13.8M$469K−$47.4M−$9.8M
Q3 2024−$15.4M−$2.3M−$3.3M$15K$398K−$17.7M

Rigetti Computing: income statement and cash flow

Rigetti Computing, Q2 2026: revenue $5.1M (+185% year over year), operating margin -546.2%. The chart follows the revenue to costs, profit and cash.

Rigetti Computing: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.