Exact spectrum of the two-photon Rabi Hamiltonian is found, proceeding in full analogy with the solution of standard (one-photon) Rabi Hamiltonian, published by Braak in Phys. Rev. Lett. 107, 100401 (2011). The Hamiltonian is rewritten as a set of two differential equations. Symmetries that get hidden after further treatment are found. One can plainly see, how the Hilbert space splits into four disjunct subspaces, categorized by four values of the symmetry parameter c = ±1, ±i. There were only two values ±1 for the standard Rabi model. Four analytic functions are introduced by a recurrence scheme for the coefficients of their series expansion. All their roots yield the complete spectrum of the Hamiltonian. Eigenstates in Bargmann space are also at disposal.

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