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Side-by-side financial comparison of FATE THERAPEUTICS INC (FATE) and Rigetti Computing, Inc. (RGTI). Click either name above to swap in a different company.
Rigetti Computing, Inc. is the larger business by last-quarter revenue ($1.9M vs $1.4M, roughly 1.4× FATE THERAPEUTICS INC). On growth, Rigetti Computing, Inc. posted the faster year-over-year revenue change (-17.9% vs -26.4%). Rigetti Computing, Inc. produced more free cash flow last quarter ($-19.5M vs $-112.0M). Over the past eight quarters, FATE THERAPEUTICS INC's revenue compounded faster (-15.7% CAGR vs -21.8%).
Insys Therapeutics was an American specialty pharmaceutical company based in Chandler, Arizona in 1990. Its main product was Subsys, a sublingual liquid form of the drug fentanyl. Fentanyl is an extremely fast-acting and powerful opioid used to relieve breakthrough pain in cancer patients, and prescription of fentanyl in the US for such pain usually requires documented failure of more conservative therapies.
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.
FATE vs RGTI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4M | $1.9M |
| Net Profit | — | $-18.2M |
| Gross Margin | — | 34.9% |
| Operating Margin | — | -1209.7% |
| Net Margin | — | -974.7% |
| Revenue YoY | -26.4% | -17.9% |
| Net Profit YoY | 37.9% | 88.1% |
| EPS (diluted) | — | $-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 | $1.4M | $1.9M | ||
| Q3 25 | $1.7M | $1.9M | ||
| Q2 25 | $1.9M | $1.8M | ||
| Q1 25 | $1.6M | $1.5M | ||
| Q4 24 | $1.9M | $2.3M | ||
| Q3 24 | $3.1M | $2.4M | ||
| Q2 24 | $6.8M | $3.1M | ||
| Q1 24 | $1.9M | $3.1M |
| Q4 25 | — | $-18.2M | ||
| Q3 25 | $-32.3M | $-201.0M | ||
| Q2 25 | $-34.1M | $-39.7M | ||
| Q1 25 | $-37.6M | $42.6M | ||
| Q4 24 | — | $-153.0M | ||
| Q3 24 | $-47.7M | $-14.8M | ||
| Q2 24 | $-38.4M | $-12.4M | ||
| Q1 24 | $-48.0M | $-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 | — | -1209.7% | ||
| Q3 25 | -1995.1% | -1055.4% | ||
| Q2 25 | -1938.5% | -1103.9% | ||
| Q1 25 | -2534.1% | -1469.6% | ||
| Q4 24 | — | -813.3% | ||
| Q3 24 | -1703.9% | -729.4% | ||
| Q2 24 | -665.7% | -521.2% | ||
| Q1 24 | -2652.9% | -543.4% |
| Q4 25 | — | -974.7% | ||
| Q3 25 | -1852.4% | -10321.9% | ||
| Q2 25 | -1786.6% | -2201.8% | ||
| Q1 25 | -2309.5% | 2895.3% | ||
| Q4 24 | — | -6726.5% | ||
| Q3 24 | -1551.0% | -623.8% | ||
| Q2 24 | -567.4% | -402.5% | ||
| Q1 24 | -2493.7% | -680.6% |
| Q4 25 | — | $-0.08 | ||
| Q3 25 | $-0.27 | $-0.62 | ||
| Q2 25 | $-0.29 | $-0.13 | ||
| Q1 25 | $-0.32 | $0.13 | ||
| Q4 24 | — | $-0.80 | ||
| Q3 24 | $-0.40 | $-0.08 | ||
| Q2 24 | $-0.33 | $-0.07 | ||
| Q1 24 | $-0.47 | $-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 | $203.7M | $44.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $207.2M | $546.2M |
| Total Assets | $318.9M | $666.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $203.7M | $44.9M | ||
| Q3 25 | $215.4M | $26.1M | ||
| Q2 25 | $222.8M | $57.2M | ||
| Q1 25 | $240.4M | $37.2M | ||
| Q4 24 | $279.1M | $67.7M | ||
| Q3 24 | $296.9M | $20.3M | ||
| Q2 24 | $304.9M | $20.7M | ||
| Q1 24 | $121.3M | $35.1M |
| Q4 25 | $207.2M | $546.2M | ||
| Q3 25 | $234.1M | $371.8M | ||
| Q2 25 | $261.4M | $553.3M | ||
| Q1 25 | $288.4M | $207.1M | ||
| Q4 24 | $318.7M | $126.6M | ||
| Q3 24 | $362.3M | $122.8M | ||
| Q2 24 | $397.0M | $122.2M | ||
| Q1 24 | $426.1M | $115.6M |
| Q4 25 | $318.9M | $666.6M | ||
| Q3 25 | $343.7M | $630.3M | ||
| Q2 25 | $371.6M | $636.7M | ||
| Q1 25 | $398.7M | $269.1M | ||
| Q4 24 | $440.7M | $284.8M | ||
| Q3 24 | $495.0M | $157.3M | ||
| Q2 24 | $528.8M | $162.4M | ||
| Q1 24 | $569.9M | $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 | $-106.1M | $-14.9M |
| Free Cash FlowOCF − Capex | $-112.0M | $-19.5M |
| FCF MarginFCF / Revenue | -8183.9% | -1042.5% |
| Capex IntensityCapex / Revenue | 434.8% | 244.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-199.6M | $-77.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-106.1M | $-14.9M | ||
| Q3 25 | $-24.4M | $-13.8M | ||
| Q2 25 | $-24.6M | $-16.2M | ||
| Q1 25 | $-33.8M | $-13.7M | ||
| Q4 24 | $-122.9M | $-8.5M | ||
| Q3 24 | $-29.4M | $-15.4M | ||
| Q2 24 | $-32.3M | $-13.5M | ||
| Q1 24 | $-33.4M | $-13.1M |
| Q4 25 | $-112.0M | $-19.5M | ||
| Q3 25 | $-26.6M | $-19.7M | ||
| Q2 25 | $-25.9M | $-21.8M | ||
| Q1 25 | $-35.0M | $-16.2M | ||
| Q4 24 | $-123.6M | $-9.8M | ||
| Q3 24 | $-29.9M | $-17.7M | ||
| Q2 24 | $-32.4M | $-15.6M | ||
| Q1 24 | $-33.4M | $-18.6M |
| Q4 25 | -8183.9% | -1042.5% | ||
| Q3 25 | -1526.5% | -1012.4% | ||
| Q2 25 | -1360.7% | -1212.4% | ||
| Q1 25 | -2148.9% | -1100.4% | ||
| Q4 24 | -6645.4% | -432.1% | ||
| Q3 24 | -973.1% | -744.5% | ||
| Q2 24 | -477.8% | -504.3% | ||
| Q1 24 | -1736.9% | -610.5% |
| Q4 25 | 434.8% | 244.8% | ||
| Q3 25 | 126.5% | 302.5% | ||
| Q2 25 | 71.4% | 314.7% | ||
| Q1 25 | 73.4% | 173.0% | ||
| Q4 24 | 39.2% | 56.4% | ||
| Q3 24 | 16.1% | 95.8% | ||
| Q2 24 | 0.8% | 66.3% | ||
| Q1 24 | 4.5% | 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
FATE
Segment breakdown not available.
RGTI
| Collaborative Research And Other Professional Services | $1.7M | 93% |
| Other | $131.0K | 7% |
