ℹ️ How are these calculated?
🎯 Investment Thesis
Down 23% YTD after roadmap reset and soft results, but analyst upgrades tell a different story — B. Riley upgraded to Buy, Wedbush raised PT to $40, Rosenblatt Buy $40. Government contracts (C-DAC, Air Force) provide real revenue anchors. $600M cash with zero debt gives extended runway. Bold 2026-2027 roadmap keeps institutional interest.
⚠️ Key Risk
Down 23% YTD — momentum is negative. 308x P/S extreme valuation. Revenue <$20M with -520% operating margin. Roadmap reset signals execution challenges. Next-gen system delayed. "Quantum Hype vs Profits" narrative could crush pure-plays.
By The Numbers
Event Impact
Quantum-classical hybrid for niche AI optimization.
Minor Air Force quantum contracts.
Full-stack quantum-classical. India C-DAC + Air Force contracts. Analyst upgrades Jan 2026.
Marginal government tech competition spending.
Pre-revenue speculative stock. Most rate-sensitive category — higher rates devastate valuations at 308x P/S.
No energy grid relevance.
Air Force and government quantum contracts. Small but real fiscal exposure. DOGE risk if R&D budgets get cut.
Price Targets
Upcoming Catalysts
Competitive Landscape
Trapped-ion approach; better fidelity but different tech
Company Background
Founded 2013 by Chad Rigetti (ex-IBM). Builds superconducting quantum processors. Public via SPAC 2022.