Research desk / Historical comparison
D-Wave and Rigetti
Put the reporting period beside the number.
Company-wide financial snapshots for the year ended 2025-12-31. Selected coverage, with no ranking or current price.
What the businesses do
D-Wave QBTS
Quantum annealing and cloud access; the release also describes a gate-model expansion following its January 2026 acquisition.
Rigetti RGTI
Superconducting quantum processors; systems sold for on-premises use and accessed through cloud services.
These are different technologies and businesses. Revenue does not establish technical performance.
Annual revenue
D-Wave
USD 24.6 million
Year ended 2025-12-31
Consolidated recognized revenue; sales mix differs from the other companies.
Source: D-Wave newsroom
Rigetti
USD 7.088 million
Year ended 2025-12-31
Consolidated revenue from the annual statement; original units are USD thousands.
Source: Rigetti investor relations
Same annual period; different products and revenue mixes. This is not a measure of hardware performance or quantum advantage.
Cash and cash equivalents
D-Wave
USD 635.347 million
At 2025-12-31
Cash and cash equivalents only; excludes marketable investments.
Source: D-Wave newsroom
Rigetti
USD 44.851 million
At 2025-12-31
Cash and cash equivalents only; excludes available-for-sale investments.
Source: Rigetti investor relations
Same balance-sheet date and narrow cash category. These balances are historical, not funds available today.
Operating cash flow
D-Wave
USD −71.982 million
Year ended 2025-12-31
Net cash used in operating activities; a negative cash flow, not net loss.
Source: D-Wave newsroom
Rigetti
USD −58.543 million
Year ended 2025-12-31
Net cash used in operating activities; converted from USD thousands.
Source: Rigetti investor relations
Same annual period; accounting scope and business activities differ. A single past year does not establish future cash use or runway.
Cash plus investment assets
D-Wave
USD 884.5 million
At 2025-12-31
Rounded issuer total: cash and marketable investments. Broader than cash alone.
Source: D-Wave newsroom
Rigetti
USD 589.8 million
At 2025-12-31
Rounded issuer total: cash, cash equivalents and available-for-sale investments. Broader than cash alone.
Source: Rigetti investor relations
Not directly comparable as cash: issuer asset definitions and rounding differ. Do not substitute these totals for the cash-only row.
What this comparison cannot tell you
Release tables and rounded highlights are not a full filing review. Rigetti's release tables are unaudited. Debt terms, commitments, dilution and later results require additional evidence.
Bookings are not recognized revenue. This comparison does not normalize bookings, technical benchmarks or broad asset totals into a score. A missing measure is not assumed to be zero.
Read the business research checklist →Original sources
Publication dates and access dates describe different events. A rebuild does not refresh this record.
- D-Wave Reports Fourth Quarter and Year-End 2025 Results ↗
D-Wave newsroom · Published · Accessed
primary issuer; not independent corroboration
- Rigetti Computing Reports Fourth Quarter and Full-Year 2025 Financial Results ↗
Rigetti investor relations · Published · Accessed
primary issuer; unaudited release tables inspected