D-Wave Quantum Inc./$QBTS

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1D1W1MYTD1Y5YMAX

About D-Wave Quantum Inc.

D-Wave Quantum Inc is in the development and delivery of quantum computing systems, software, and services, and it is the commercial supplier of quantum computers and the only company building both annealing quantum computers and gate-model quantum computers. It delivers customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. Its annealing quantum computers are accessible through the company's LeapTM cloud service.

Ticker

$QBTS

Sector

Software & Cloud Services

Primary listing

NYSE

Employees

218

QBTS Metrics

BasicAdvanced
$12B
-
-$1.10
1.40
-

Bulls say / Bears say

D-Wave’s GAAP revenue for Q2 fiscal 2025 climbed 42% year-over-year to $3.1 million, beating consensus estimates by around 22%, demonstrating early commercial traction for its quantum systems business.
Shares of D-Wave jumped almost 26% after it launched its sixth-generation Advantage2 quantum computer, reflecting investor confidence in the product’s 40% energy-scale improvement and 75% reduction in system noise.
D-Wave signed a memorandum of understanding with Yonsei University and Incheon Metropolitan City to encourage quantum computing adoption in South Korea, possibly paving the way for a high-value on-premise Advantage2 system deployment in a rapidly growing Asian quantum hub.
The company’s net loss widened to $167.3 million in Q2 2025, driven by non-cash warrant-liability revaluations, which has heightened investor concerns about the clarity of its path to profitability.
Adjusted EBITDA loss rose 44% year-over-year to $20 million in Q2, reflecting rising operating expenses as D-Wave aggressively increases R&D and market expansion.
IonQ’s $1.08 billion acquisition of Oxford Ionics points to intensifying competition in quantum computing, which could pressure D-Wave’s market share and leadership.
Data summarised monthly by Lightyear AI. Last updated on 3 Oct 2025.

QBTS Financial Performance

Revenues and expenses
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
$37B
-39.75%
Net income
$45B
107.52%
Profit margin
37.65%
6.78%

QBTS Earnings Performance

Company profitability
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
$3.69
$2.85
$2.45
$2.42
-
Expected
$3.55
$2.61
$2.05
$2.31
$3.94
Surprise
3.94%
9.20%
19.51%
4.63%
-
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.

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