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Side-by-side financial comparison of CG Oncology, Inc. (CGON) and Rigetti Computing, Inc. (RGTI). Click either name above to swap in a different company.
CG Oncology, Inc. is the larger business by last-quarter revenue ($2.3M vs $1.9M, roughly 1.2× Rigetti Computing, Inc.). Rigetti Computing, Inc. runs the higher net margin — -974.7% vs -1779.0%, a 804.3% gap on every dollar of revenue. On growth, CG Oncology, Inc. posted the faster year-over-year revenue change (409.2% vs -17.9%). Rigetti Computing, Inc. produced more free cash flow last quarter ($-19.5M vs $-36.2M).
CG Oncology, Inc. is a clinical-stage biotechnology company focused on developing innovative targeted immunotherapies for urological cancers including non-muscle invasive bladder cancer. It primarily operates in the U.S. market, advancing pipeline candidates to address unmet medical needs for patients with limited treatment options.
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.
CGON vs RGTI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.3M | $1.9M |
| Net Profit | $-41.3M | $-18.2M |
| Gross Margin | — | 34.9% |
| Operating Margin | -2097.3% | -1209.7% |
| Net Margin | -1779.0% | -974.7% |
| Revenue YoY | 409.2% | -17.9% |
| Net Profit YoY | -29.9% | 88.1% |
| EPS (diluted) | $-0.52 | $-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 | $2.3M | $1.9M | ||
| Q3 25 | $1.7M | $1.9M | ||
| Q2 25 | $0 | $1.8M | ||
| Q1 25 | — | $1.5M | ||
| Q4 24 | $456.0K | $2.3M | ||
| Q3 24 | — | $2.4M | ||
| Q2 24 | — | $3.1M | ||
| Q1 24 | $529.0K | $3.1M |
| Q4 25 | $-41.3M | $-18.2M | ||
| Q3 25 | $-43.8M | $-201.0M | ||
| Q2 25 | $-41.4M | $-39.7M | ||
| Q1 25 | — | $42.6M | ||
| Q4 24 | $-31.8M | $-153.0M | ||
| Q3 24 | — | $-14.8M | ||
| Q2 24 | — | $-12.4M | ||
| Q1 24 | $-16.9M | $-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 | -2097.3% | -1209.7% | ||
| Q3 25 | -3069.0% | -1055.4% | ||
| Q2 25 | — | -1103.9% | ||
| Q1 25 | — | -1469.6% | ||
| Q4 24 | -8344.1% | -813.3% | ||
| Q3 24 | — | -729.4% | ||
| Q2 24 | — | -521.2% | ||
| Q1 24 | -4247.4% | -543.4% |
| Q4 25 | -1779.0% | -974.7% | ||
| Q3 25 | -2629.5% | -10321.9% | ||
| Q2 25 | — | -2201.8% | ||
| Q1 25 | — | 2895.3% | ||
| Q4 24 | -6973.7% | -6726.5% | ||
| Q3 24 | — | -623.8% | ||
| Q2 24 | — | -402.5% | ||
| Q1 24 | -3200.8% | -680.6% |
| Q4 25 | $-0.52 | $-0.08 | ||
| Q3 25 | $-0.57 | $-0.62 | ||
| Q2 25 | $-0.54 | $-0.13 | ||
| Q1 25 | — | $0.13 | ||
| Q4 24 | $-0.47 | $-0.80 | ||
| Q3 24 | — | $-0.08 | ||
| Q2 24 | — | $-0.07 | ||
| Q1 24 | $-0.36 | $-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 | $742.2M | $44.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $752.6M | $546.2M |
| Total Assets | $791.6M | $666.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $742.2M | $44.9M | ||
| Q3 25 | $680.3M | $26.1M | ||
| Q2 25 | $661.1M | $57.2M | ||
| Q1 25 | — | $37.2M | ||
| Q4 24 | $742.0M | $67.7M | ||
| Q3 24 | — | $20.3M | ||
| Q2 24 | — | $20.7M | ||
| Q1 24 | $566.5M | $35.1M |
| Q4 25 | $752.6M | $546.2M | ||
| Q3 25 | $687.6M | $371.8M | ||
| Q2 25 | $670.4M | $553.3M | ||
| Q1 25 | — | $207.1M | ||
| Q4 24 | $733.4M | $126.6M | ||
| Q3 24 | — | $122.8M | ||
| Q2 24 | — | $122.2M | ||
| Q1 24 | $568.9M | $115.6M |
| Q4 25 | $791.6M | $666.6M | ||
| Q3 25 | $729.9M | $630.3M | ||
| Q2 25 | $701.4M | $636.7M | ||
| Q1 25 | — | $269.1M | ||
| Q4 24 | $754.8M | $284.8M | ||
| Q3 24 | — | $157.3M | ||
| Q2 24 | — | $162.4M | ||
| Q1 24 | $579.1M | $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 | $-36.2M | $-14.9M |
| Free Cash FlowOCF − Capex | $-36.2M | $-19.5M |
| FCF MarginFCF / Revenue | -1560.0% | -1042.5% |
| Capex IntensityCapex / Revenue | 0.3% | 244.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-124.1M | $-77.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-36.2M | $-14.9M | ||
| Q3 25 | $-38.9M | $-13.8M | ||
| Q2 25 | $-28.0M | $-16.2M | ||
| Q1 25 | — | $-13.7M | ||
| Q4 24 | $-20.7M | $-8.5M | ||
| Q3 24 | — | $-15.4M | ||
| Q2 24 | — | $-13.5M | ||
| Q1 24 | $-26.0M | $-13.1M |
| Q4 25 | $-36.2M | $-19.5M | ||
| Q3 25 | $-39.0M | $-19.7M | ||
| Q2 25 | $-28.0M | $-21.8M | ||
| Q1 25 | — | $-16.2M | ||
| Q4 24 | $-20.9M | $-9.8M | ||
| Q3 24 | — | $-17.7M | ||
| Q2 24 | — | $-15.6M | ||
| Q1 24 | $-26.0M | $-18.6M |
| Q4 25 | -1560.0% | -1042.5% | ||
| Q3 25 | -2340.4% | -1012.4% | ||
| Q2 25 | — | -1212.4% | ||
| Q1 25 | — | -1100.4% | ||
| Q4 24 | -4577.0% | -432.1% | ||
| Q3 24 | — | -744.5% | ||
| Q2 24 | — | -504.3% | ||
| Q1 24 | -4919.5% | -610.5% |
| Q4 25 | 0.3% | 244.8% | ||
| Q3 25 | 5.8% | 302.5% | ||
| Q2 25 | — | 314.7% | ||
| Q1 25 | — | 173.0% | ||
| Q4 24 | 45.8% | 56.4% | ||
| Q3 24 | — | 95.8% | ||
| Q2 24 | — | 66.3% | ||
| Q1 24 | 2.3% | 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
CGON
Segment breakdown not available.
RGTI
| Collaborative Research And Other Professional Services | $1.7M | 93% |
| Other | $131.0K | 7% |
