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Side-by-side financial comparison of Rigetti Computing, Inc. (RGTI) and Zscaler, Inc. (ZS). Click either name above to swap in a different company.
Zscaler, Inc. is the larger business by last-quarter revenue ($788.1M vs $1.9M, roughly 421.9× Rigetti Computing, Inc.). Zscaler, Inc. runs the higher net margin — -1.5% vs -974.7%, a 973.2% gap on every dollar of revenue. On growth, Zscaler, Inc. posted the faster year-over-year revenue change (25.5% vs -17.9%). Zscaler, Inc. produced more free cash flow last quarter ($431.0M vs $-19.5M). Over the past eight quarters, Zscaler, Inc.'s revenue compounded faster (22.5% CAGR vs -21.8%).
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.
Zscaler, Inc. is an American cloud security company based in San Jose, California. The company offers cloud-based services to protect enterprise networks and data.
RGTI vs ZS — Head-to-Head
Income Statement — Q4 2025 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $1.9M | $788.1M |
| Net Profit | $-18.2M | $-11.6M |
| Gross Margin | 34.9% | 76.6% |
| Operating Margin | -1209.7% | -4.6% |
| Net Margin | -974.7% | -1.5% |
| Revenue YoY | -17.9% | 25.5% |
| Net Profit YoY | 88.1% | 3.6% |
| EPS (diluted) | $-0.08 | $-0.07 |
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 | $788.1M | ||
| Q3 25 | $1.9M | $719.2M | ||
| Q2 25 | $1.8M | $678.0M | ||
| Q1 25 | $1.5M | $647.9M | ||
| Q4 24 | $2.3M | $628.0M | ||
| Q3 24 | $2.4M | $592.9M | ||
| Q2 24 | $3.1M | $553.2M | ||
| Q1 24 | $3.1M | $525.0M |
| Q4 25 | $-18.2M | $-11.6M | ||
| Q3 25 | $-201.0M | $-17.6M | ||
| Q2 25 | $-39.7M | $-4.1M | ||
| Q1 25 | $42.6M | $-7.7M | ||
| Q4 24 | $-153.0M | $-12.1M | ||
| Q3 24 | $-14.8M | $-14.9M | ||
| Q2 24 | $-12.4M | $19.1M | ||
| Q1 24 | $-20.8M | $-28.5M |
| Q4 25 | 34.9% | 76.6% | ||
| Q3 25 | 20.7% | 76.1% | ||
| Q2 25 | 31.4% | 77.0% | ||
| Q1 25 | 30.0% | 77.1% | ||
| Q4 24 | 44.1% | 77.5% | ||
| Q3 24 | 50.6% | 78.0% | ||
| Q2 24 | 64.5% | 78.6% | ||
| Q1 24 | 49.1% | 77.7% |
| Q4 25 | -1209.7% | -4.6% | ||
| Q3 25 | -1055.4% | -4.5% | ||
| Q2 25 | -1103.9% | -3.7% | ||
| Q1 25 | -1469.6% | -6.2% | ||
| Q4 24 | -813.3% | -4.9% | ||
| Q3 24 | -729.4% | -4.5% | ||
| Q2 24 | -521.2% | -0.5% | ||
| Q1 24 | -543.4% | -8.7% |
| Q4 25 | -974.7% | -1.5% | ||
| Q3 25 | -10321.9% | -2.4% | ||
| Q2 25 | -2201.8% | -0.6% | ||
| Q1 25 | 2895.3% | -1.2% | ||
| Q4 24 | -6726.5% | -1.9% | ||
| Q3 24 | -623.8% | -2.5% | ||
| Q2 24 | -402.5% | 3.5% | ||
| Q1 24 | -680.6% | -5.4% |
| Q4 25 | $-0.08 | $-0.07 | ||
| Q3 25 | $-0.62 | $-0.11 | ||
| Q2 25 | $-0.13 | $-0.03 | ||
| Q1 25 | $0.13 | $-0.05 | ||
| Q4 24 | $-0.80 | $-0.08 | ||
| Q3 24 | $-0.08 | $-0.09 | ||
| Q2 24 | $-0.07 | $0.12 | ||
| Q1 24 | $-0.14 | $-0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $44.9M | $1.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $546.2M | $2.0B |
| Total Assets | $666.6M | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $44.9M | $1.3B | ||
| Q3 25 | $26.1M | $2.4B | ||
| Q2 25 | $57.2M | $2.0B | ||
| Q1 25 | $37.2M | $1.8B | ||
| Q4 24 | $67.7M | $1.6B | ||
| Q3 24 | $20.3M | $1.4B | ||
| Q2 24 | $20.7M | $1.3B | ||
| Q1 24 | $35.1M | $1.4B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | $546.2M | $2.0B | ||
| Q3 25 | $371.8M | $1.8B | ||
| Q2 25 | $553.3M | $1.8B | ||
| Q1 25 | $207.1M | $1.6B | ||
| Q4 24 | $126.6M | $1.4B | ||
| Q3 24 | $122.8M | $1.3B | ||
| Q2 24 | $122.2M | $1.1B | ||
| Q1 24 | $115.6M | $958.9M |
| Q4 25 | $666.6M | $6.5B | ||
| Q3 25 | $630.3M | $6.4B | ||
| Q2 25 | $636.7M | $5.3B | ||
| Q1 25 | $269.1M | $5.0B | ||
| Q4 24 | $284.8M | $4.7B | ||
| Q3 24 | $157.3M | $4.7B | ||
| Q2 24 | $162.4M | $4.2B | ||
| Q1 24 | $162.1M | $3.9B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | — | 1.19× |
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 | $-14.9M | $448.3M |
| Free Cash FlowOCF − Capex | $-19.5M | $431.0M |
| FCF MarginFCF / Revenue | -1042.5% | 54.7% |
| Capex IntensityCapex / Revenue | 244.8% | 2.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-77.2M | $924.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-14.9M | $448.3M | ||
| Q3 25 | $-13.8M | $250.6M | ||
| Q2 25 | $-16.2M | $211.1M | ||
| Q1 25 | $-13.7M | $179.4M | ||
| Q4 24 | $-8.5M | $331.3M | ||
| Q3 24 | $-15.4M | $203.6M | ||
| Q2 24 | $-13.5M | $173.4M | ||
| Q1 24 | $-13.1M | $142.1M |
| Q4 25 | $-19.5M | $431.0M | ||
| Q3 25 | $-19.7M | $190.6M | ||
| Q2 25 | $-21.8M | $138.9M | ||
| Q1 25 | $-16.2M | $164.4M | ||
| Q4 24 | $-9.8M | $314.3M | ||
| Q3 24 | $-17.7M | $154.2M | ||
| Q2 24 | $-15.6M | $137.8M | ||
| Q1 24 | $-18.6M | $111.2M |
| Q4 25 | -1042.5% | 54.7% | ||
| Q3 25 | -1012.4% | 26.5% | ||
| Q2 25 | -1212.4% | 20.5% | ||
| Q1 25 | -1100.4% | 25.4% | ||
| Q4 24 | -432.1% | 50.1% | ||
| Q3 24 | -744.5% | 26.0% | ||
| Q2 24 | -504.3% | 24.9% | ||
| Q1 24 | -610.5% | 21.2% |
| Q4 25 | 244.8% | 2.2% | ||
| Q3 25 | 302.5% | 8.3% | ||
| Q2 25 | 314.7% | 10.6% | ||
| Q1 25 | 173.0% | 2.3% | ||
| Q4 24 | 56.4% | 2.7% | ||
| Q3 24 | 95.8% | 8.3% | ||
| Q2 24 | 66.3% | 6.4% | ||
| Q1 24 | 180.0% | 5.9% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.32× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 9.07× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
