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Side-by-side financial comparison of Picard Medical, Inc. (PMI) 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 $1.2M, roughly 1.6× Picard Medical, Inc.). Picard Medical, Inc. runs the higher net margin — -878.3% vs -974.7%, a 96.3% gap on every dollar of revenue.
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.
PMI vs RGTI — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2M | $1.9M |
| Net Profit | $-10.4M | $-18.2M |
| Gross Margin | -11.0% | 34.9% |
| Operating Margin | -293.8% | -1209.7% |
| Net Margin | -878.3% | -974.7% |
| Revenue YoY | — | -17.9% |
| Net Profit YoY | — | 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 | — | $1.9M | ||
| Q3 25 | $1.2M | $1.9M | ||
| Q2 25 | $2.1M | $1.8M | ||
| Q1 25 | — | $1.5M | ||
| Q4 24 | — | $2.3M | ||
| Q3 24 | — | $2.4M | ||
| Q2 24 | — | $3.1M | ||
| Q1 24 | — | $3.1M |
| Q4 25 | — | $-18.2M | ||
| Q3 25 | $-10.4M | $-201.0M | ||
| Q2 25 | $-6.7M | $-39.7M | ||
| Q1 25 | — | $42.6M | ||
| Q4 24 | — | $-153.0M | ||
| Q3 24 | — | $-14.8M | ||
| Q2 24 | — | $-12.4M | ||
| Q1 24 | — | $-20.8M |
| Q4 25 | — | 34.9% | ||
| Q3 25 | -11.0% | 20.7% | ||
| Q2 25 | -6.0% | 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 | -293.8% | -1055.4% | ||
| Q2 25 | -165.2% | -1103.9% | ||
| Q1 25 | — | -1469.6% | ||
| Q4 24 | — | -813.3% | ||
| Q3 24 | — | -729.4% | ||
| Q2 24 | — | -521.2% | ||
| Q1 24 | — | -543.4% |
| Q4 25 | — | -974.7% | ||
| Q3 25 | -878.3% | -10321.9% | ||
| Q2 25 | -315.5% | -2201.8% | ||
| Q1 25 | — | 2895.3% | ||
| Q4 24 | — | -6726.5% | ||
| Q3 24 | — | -623.8% | ||
| Q2 24 | — | -402.5% | ||
| Q1 24 | — | -680.6% |
| Q4 25 | — | $-0.08 | ||
| Q3 25 | — | $-0.62 | ||
| Q2 25 | — | $-0.13 | ||
| Q1 25 | — | $0.13 | ||
| Q4 24 | — | $-0.80 | ||
| Q3 24 | — | $-0.08 | ||
| Q2 24 | — | $-0.07 | ||
| Q1 24 | — | $-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 | $2.8M | $44.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $8.0M | $546.2M |
| Total Assets | $13.5M | $666.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $44.9M | ||
| Q3 25 | $2.8M | $26.1M | ||
| Q2 25 | $410.0K | $57.2M | ||
| Q1 25 | — | $37.2M | ||
| Q4 24 | — | $67.7M | ||
| Q3 24 | — | $20.3M | ||
| Q2 24 | — | $20.7M | ||
| Q1 24 | — | $35.1M |
| Q4 25 | — | $546.2M | ||
| Q3 25 | $8.0M | $371.8M | ||
| Q2 25 | $-54.5M | $553.3M | ||
| Q1 25 | — | $207.1M | ||
| Q4 24 | — | $126.6M | ||
| Q3 24 | — | $122.8M | ||
| Q2 24 | — | $122.2M | ||
| Q1 24 | — | $115.6M |
| Q4 25 | — | $666.6M | ||
| Q3 25 | $13.5M | $630.3M | ||
| Q2 25 | $11.7M | $636.7M | ||
| Q1 25 | — | $269.1M | ||
| Q4 24 | — | $284.8M | ||
| Q3 24 | — | $157.3M | ||
| Q2 24 | — | $162.4M | ||
| Q1 24 | — | $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 | $-6.5M | $-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 | — | $-14.9M | ||
| Q3 25 | $-6.5M | $-13.8M | ||
| Q2 25 | $-4.8M | $-16.2M | ||
| Q1 25 | — | $-13.7M | ||
| Q4 24 | — | $-8.5M | ||
| Q3 24 | — | $-15.4M | ||
| Q2 24 | — | $-13.5M | ||
| Q1 24 | — | $-13.1M |
| Q4 25 | — | $-19.5M | ||
| Q3 25 | — | $-19.7M | ||
| Q2 25 | — | $-21.8M | ||
| Q1 25 | — | $-16.2M | ||
| Q4 24 | — | $-9.8M | ||
| Q3 24 | — | $-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 | — | -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 | — | 95.8% | ||
| Q2 24 | — | 66.3% | ||
| Q1 24 | — | 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
PMI
| Products | $1.1M | 94% |
| Other | $72.0K | 6% |
RGTI
| Collaborative Research And Other Professional Services | $1.7M | 93% |
| Other | $131.0K | 7% |
