Rigetti Computing (RGTI) generated only $7.1 million in revenue for 2025, a 34% drop from the previous year. They also reported an operating loss of $84.6 million. The main issue is that their quantum computers still produce error rates that are too high for widespread commercial use. The stock is down 25% this year, but the valuation remains high. They are currently valued at almost $6 billion with a price-to-sales ratio of 779. For context, Palantir trades at a P/S of 89 and Nvidia is at 20. With shrinking revenue and a high cash burn rate, the stock could see further downside.