Rigetti Computing (NasdaqCM:RGTI) Raises US$350 Million Through Follow-on Equity Offering

Rigetti Computing (NasdaqCM:RGTI) achieved a 25% share price increase over the last quarter, driven partly by its successful $350 million equity offering completion on June 11, 2025. This funding move aligns well with Rigetti's ongoing advancements in quantum computing, including collaborations with QphoX and the NQCC. Despite a decline in sales, first-quarter earnings revealed a reversal to a $43 million profit from a previous $21 million loss. In a broader context, Rigetti's price rise coincides with positive market sentiment, mirrored by gains in the S&P 500 and Nasdaq amid easing trade tensions and favorable inflation data.

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Rigetti Computing's shares have experienced a very large total return over the past year. In comparison, Rigetti exceeded both the US Market return of 12.8% and the US Semiconductor industry's return of 11.8% over the same period.

The company's focus on quantum computing advancements and strategic collaborations appears to have bolstered investor confidence, driving its significant share price appreciation. Despite Rigetti's unprofitability and declining sales, the successful equity offering has provided substantial capital, which may support future revenue growth initiatives and potentially improve earnings forecasts. However, Rigetti remains unprofitable and is not expected to achieve profitability over the next three years. The current share price reflects a 31.7% discount to the consensus analyst price target of US$14.80, suggesting room for potential growth as forecasted revenue trends indicate a 41.3% annual increase.

Examine Rigetti Computing's earnings growth report to understand how analysts expect it to perform.

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