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As of Q4'25, RGTI's EV/EBITDA ratio has sharply declined to -361.53, marking a significant deterioration from previous quarters. This latest data point reflects a substantial negative shift compared to Q3'25, which recorded an EV/EBITDA of -31.92. Over the period from Q1'23 to Q4'25, the EV/EBITDA ratio for RGTI has exhibited a volatile and predominantly downward trend. After fluctuating between -1.21 and -13.84 from Q1'23 through Q4'24, the metric worsened considerably throughout 2025, culminating in a dramatic drop in Q4'25. This pattern suggests increasing operational losses or a deteriorating enterprise value relative to EBITDA, signaling heightened financial stress for the company in the most recent quarters.