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Side-by-side financial comparison of Bolt Biotherapeutics, Inc. (BOLT) and Rigetti Computing, Inc. (RGTI). Click either name above to swap in a different company.
Bolt Biotherapeutics, Inc. is the larger business by last-quarter revenue ($2.5M vs $1.9M, roughly 1.3× Rigetti Computing, Inc.). Bolt Biotherapeutics, Inc. runs the higher net margin — -265.2% vs -974.7%, a 709.4% gap on every dollar of revenue. Over the past eight quarters, Rigetti Computing, Inc.'s revenue compounded faster (-21.8% CAGR vs -31.2%).
Bolt Biotherapeutics, Inc. is a clinical-stage biotechnology company specializing in immune-stimulating antibody conjugate (ISAC) therapies for cancer treatment. Its core pipeline targets hard-to-treat solid tumors, serving global oncology markets and advancing novel immunotherapies that trigger targeted anti-tumor immune responses to improve patient outcomes.
Rigetti Computing, Inc. is a Berkeley, California-based developer of superconducting quantum integrated circuits used for quantum computers. Rigetti also develops a cloud platform called Forest that enables programmers to write quantum algorithms.
BOLT vs RGTI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.5M | $1.9M |
| Net Profit | $-6.6M | $-18.2M |
| Gross Margin | — | 34.9% |
| Operating Margin | -283.4% | -1209.7% |
| Net Margin | -265.2% | -974.7% |
| Revenue YoY | — | -17.9% |
| Net Profit YoY | 58.4% | 88.1% |
| EPS (diluted) | $-9.38 | $-0.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.5M | $1.9M | ||
| Q3 25 | $2.2M | $1.9M | ||
| Q2 25 | $1.8M | $1.8M | ||
| Q1 25 | $1.2M | $1.5M | ||
| Q4 24 | $0 | $2.3M | ||
| Q3 24 | $1.1M | $2.4M | ||
| Q2 24 | $1.3M | $3.1M | ||
| Q1 24 | $5.3M | $3.1M |
| Q4 25 | $-6.6M | $-18.2M | ||
| Q3 25 | $-7.1M | $-201.0M | ||
| Q2 25 | $-8.6M | $-39.7M | ||
| Q1 25 | $-11.0M | $42.6M | ||
| Q4 24 | $-15.9M | $-153.0M | ||
| Q3 24 | $-15.2M | $-14.8M | ||
| Q2 24 | $-21.2M | $-12.4M | ||
| Q1 24 | $-10.8M | $-20.8M |
| Q4 25 | — | 34.9% | ||
| Q3 25 | — | 20.7% | ||
| Q2 25 | — | 31.4% | ||
| Q1 25 | — | 30.0% | ||
| Q4 24 | — | 44.1% | ||
| Q3 24 | — | 50.6% | ||
| Q2 24 | — | 64.5% | ||
| Q1 24 | — | 49.1% |
| Q4 25 | -283.4% | -1209.7% | ||
| Q3 25 | -355.1% | -1055.4% | ||
| Q2 25 | -510.5% | -1103.9% | ||
| Q1 25 | -991.4% | -1469.6% | ||
| Q4 24 | — | -813.3% | ||
| Q3 24 | -1441.1% | -729.4% | ||
| Q2 24 | -1772.3% | -521.2% | ||
| Q1 24 | -324.1% | -543.4% |
| Q4 25 | -265.2% | -974.7% | ||
| Q3 25 | -329.4% | -10321.9% | ||
| Q2 25 | -474.6% | -2201.8% | ||
| Q1 25 | -903.4% | 2895.3% | ||
| Q4 24 | — | -6726.5% | ||
| Q3 24 | -1330.1% | -623.8% | ||
| Q2 24 | -1662.4% | -402.5% | ||
| Q1 24 | -205.0% | -680.6% |
| Q4 25 | $-9.38 | $-0.08 | ||
| Q3 25 | $-3.72 | $-0.62 | ||
| Q2 25 | $-4.46 | $-0.13 | ||
| Q1 25 | $-0.29 | $0.13 | ||
| Q4 24 | $-13.73 | $-0.80 | ||
| Q3 24 | $-7.93 | $-0.08 | ||
| Q2 24 | $-11.12 | $-0.07 | ||
| Q1 24 | $-0.28 | $-0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $27.5M | $44.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $26.5M | $546.2M |
| Total Assets | $56.7M | $666.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.5M | $44.9M | ||
| Q3 25 | $31.9M | $26.1M | ||
| Q2 25 | $34.8M | $57.2M | ||
| Q1 25 | $38.8M | $37.2M | ||
| Q4 24 | $47.3M | $67.7M | ||
| Q3 24 | $53.8M | $20.3M | ||
| Q2 24 | $73.7M | $20.7M | ||
| Q1 24 | $91.3M | $35.1M |
| Q4 25 | $26.5M | $546.2M | ||
| Q3 25 | $32.1M | $371.8M | ||
| Q2 25 | $38.8M | $553.3M | ||
| Q1 25 | $46.8M | $207.1M | ||
| Q4 24 | $57.2M | $126.6M | ||
| Q3 24 | $72.0M | $122.8M | ||
| Q2 24 | $85.9M | $122.2M | ||
| Q1 24 | $104.2M | $115.6M |
| Q4 25 | $56.7M | $666.6M | ||
| Q3 25 | $65.1M | $630.3M | ||
| Q2 25 | $75.5M | $636.7M | ||
| Q1 25 | $85.9M | $269.1M | ||
| Q4 24 | $99.6M | $284.8M | ||
| Q3 24 | $109.3M | $157.3M | ||
| Q2 24 | $124.2M | $162.4M | ||
| Q1 24 | $142.9M | $162.1M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-7.2M | $-14.9M |
| Free Cash FlowOCF − Capex | — | $-19.5M |
| FCF MarginFCF / Revenue | — | -1042.5% |
| Capex IntensityCapex / Revenue | — | 244.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-77.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-7.2M | $-14.9M | ||
| Q3 25 | $-9.7M | $-13.8M | ||
| Q2 25 | $-9.6M | $-16.2M | ||
| Q1 25 | $-13.4M | $-13.7M | ||
| Q4 24 | $-14.4M | $-8.5M | ||
| Q3 24 | $-14.0M | $-15.4M | ||
| Q2 24 | $-16.1M | $-13.5M | ||
| Q1 24 | $-16.8M | $-13.1M |
| Q4 25 | — | $-19.5M | ||
| Q3 25 | — | $-19.7M | ||
| Q2 25 | — | $-21.8M | ||
| Q1 25 | — | $-16.2M | ||
| Q4 24 | — | $-9.8M | ||
| Q3 24 | $-14.0M | $-17.7M | ||
| Q2 24 | — | $-15.6M | ||
| Q1 24 | — | $-18.6M |
| Q4 25 | — | -1042.5% | ||
| Q3 25 | — | -1012.4% | ||
| Q2 25 | — | -1212.4% | ||
| Q1 25 | — | -1100.4% | ||
| Q4 24 | — | -432.1% | ||
| Q3 24 | -1227.6% | -744.5% | ||
| Q2 24 | — | -504.3% | ||
| Q1 24 | — | -610.5% |
| Q4 25 | — | 244.8% | ||
| Q3 25 | — | 302.5% | ||
| Q2 25 | — | 314.7% | ||
| Q1 25 | — | 173.0% | ||
| Q4 24 | — | 56.4% | ||
| Q3 24 | 3.6% | 95.8% | ||
| Q2 24 | 0.0% | 66.3% | ||
| Q1 24 | 0.0% | 180.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -0.32× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BOLT
Segment breakdown not available.
RGTI
| Collaborative Research And Other Professional Services | $1.7M | 93% |
| Other | $131.0K | 7% |
