D-Wave Quantum Inc./$QBTS
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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
Headquarters
Website
QBTS Metrics
BasicAdvanced
$12B
-
-$1.10
1.48
-
Price and volume
Market cap
$12B
Beta
1.48
52-week high
$46.75
52-week low
$3.74
Average daily volume
71M
Financial strength
Current ratio
42.987
Quick ratio
42.635
Long term debt to equity
5.529
Total debt to equity
5.759
Interest coverage (TTM)
-38.77%
Profitability
EBITDA (TTM)
-77.348
Gross margin (TTM)
82.46%
Net profit margin (TTM)
-1,263.92%
Operating margin (TTM)
-353.14%
Revenue per employee (TTM)
$100,000
Management effectiveness
Return on assets (TTM)
-10.86%
Return on equity (TTM)
-83.70%
Valuation
Price to revenue (TTM)
402.652
Price to book
17.15
Price to tangible book (TTM)
17.17
Price to free cash flow (TTM)
-168.373
Free cash flow yield (TTM)
-0.59%
Free cash flow per share (TTM)
-0.208
Growth
Revenue change (TTM)
120.20%
Earnings per share change (TTM)
159.76%
3-year revenue growth (CAGR)
48.40%
3-year earnings per share growth (CAGR)
-56.06%
What the Analysts think about QBTS
Analyst ratings (Buy, Hold, Sell) for D-Wave Quantum Inc. stock.
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
QBTS Earnings Performance
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FAQs
What’s the current market cap for D-Wave Quantum Inc. stock?
D-Wave Quantum Inc. (QBTS) has a market cap of $12B as of October 28, 2025.
What is the P/E ratio for D-Wave Quantum Inc. stock?
The price to earnings (P/E) ratio for D-Wave Quantum Inc. (QBTS) stock is 0 as of October 28, 2025.
Does D-Wave Quantum Inc. stock pay dividends?
No, D-Wave Quantum Inc. (QBTS) stock does not pay dividends to its shareholders as of October 28, 2025.
When is the next D-Wave Quantum Inc. dividend payment date?
D-Wave Quantum Inc. (QBTS) stock does not pay dividends to its shareholders.
What is the beta indicator for D-Wave Quantum Inc.?
D-Wave Quantum Inc. (QBTS) has a beta rating of 1.48. This means that it is more volatile than the market, on average. A beta of 1 would indicate the stock moves in-line with the market, while a beta of 2 would indicate the stock moves twice as much as the market.