D-Wave Quantum Inc.

D-Wave Quantum Inc.

10.47
EUR
-0.30
(-2.79%)
-0.93EPS
4.60BMarket Cap
Nov 05Next Earn
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.05
0.06
0.06
0.06
0.05
0.08
0.04
Basic EPS, GAAP
-0.2
-0.37
-0.45
-0.6
-0.75
-1.11
-1.08
Free Cash Flow per Basic Share
-0.27
-0.34
-0.38
-0.44
-0.23
-0.24
-0.3
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
-2.65
-3.16
-3.53
-3
-2.35
-2.74
-2.7
Tangible Book Value per Share
-1.43
-1.9
-0.26
-0.15
0.23
2.37
1.53
Basic Weighted Avg Shares
110
110
120
138
192
321
341
Sales/Revenue/Turnover
5
6
7
9
9
25
12
Operating Margin (%)
-609.83
-620.29
-828.91
-919.68
-874.85
-408.22
-1,155.61
Depreciation Expense
3
3
2
2
2
2
6
Net Income, GAAP
-22
-41
-54
-83
-144
-355
-368
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
Profit Margin (%)
-425.72
-652.54
-748.67
-944.45
-1,629.99
-1,444.1
-2,957.23
Working Capital
29
6
-2
36
155
875
579
LT Debt
3
37
38
71
37
42
45
Total Equity
33
-18
-29
-24
63
852
1,124
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)
- -
- -
- -
- -
- -
- -
- -

Capital Structure

USD

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
2
2
2
LT Borrowings
32
36
35
LT Finance Leases
6
6
10
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
349
359
370
Market Capitalization
8,378
9,518
5,321

Working Capital

USD

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
848
896
607
Cash, Cash Equivalents & STI
836
884
588
Accounts Receivable, Net
2
2
9
Inventories
3
3
3
Total Current Liabilities
16
21
28
Payables & Accruals
4
6
8
ST Debt
2
2
2
Deferred Revenue
3
3
9

Growth Rates

USD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
158.4%
1,260.39%
Free Cash Flow
- -
24.63%
69.49%
Net Income, GAAP
- -
78.47%
146.78%
Sales/Revenue/Turnover
- -
47.47%
178.54%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2
2
2
2
9
2025
15
3
4
3
25
2026
3
- -
- -
- -
- -

Quarterly Earnings Per Share

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.11
-0.1
-0.11
-0.37
-0.75
2025
-0.02
-0.55
-0.41
-0.12
-1.11
2026
-0.05
- -
- -
- -
- -

Quarterly Dividends Per Share

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

CEO
Alan E. Baratz
Full Time Employees
388
Sector
Electronic technology
Industry
Computer processing hardware
Address
Palo Alto United States
IPO Date
Oct 11, 2020
Business
D-Wave Quantum Inc. is a commercial quantum computing company engaged in the development, delivery, and integration of quantum hardware systems, cloud-based quantum services, and software toolkits for enterprise optimization and scientific computation. Founded in 1999 and headquartered in Burnaby, British Columbia, Canada, the company delivers quantum solutions to commercial enterprises, research institutions, national laboratories, and government agencies across North America, Europe, and the Asia-Pacific region. The company offers a comprehensive suite of hardware, cloud, and software solutions, including: the Advantage quantum computing system, a commercial annealing platform featuring more than 5,000 qubits and 15-way Pegasus connectivity topology engineered for complex combinatorial optimization; the Advantage2 quantum system and prototypes, an advanced annealing architecture incorporating over 4,400 qubits, 20-way Zephyr connectivity topology, increased coherence times, and higher energy scales; the Leap quantum cloud service, a proprietary platform providing real-time, on-demand cloud access to quantum processing units, administrative management tools, and integrated development environments; the Ocean software development kit, an open-source suite of Python tools, libraries, and application programming interfaces for formulating and submitting quadratic unconstrained binary optimization and constrained quadratic models; the Leap Hybrid Solver Service, a managed solution combining classical high-performance computing resources with quantum annealing processors to solve enterprise-scale optimization problems with up to millions of variables; and D-Wave Launch, a professional services and onboarding program offering technical consulting, proof-of-concept modeling, algorithm design, and custom application development. In recent corporate and technical developments, D-Wave has advanced its dual-platform roadmap by making upgraded Advantage2 quantum annealing prototypes with multi-qubit Zephyr connectivity and fast-anneal capabilities commercially accessible via Leap, while continuing research and hardware development on scalable gate-model quantum computing systems utilizing fluxonium qubit technology. The company has broadened its global commercial partnerships and application deployments across logistics, defense, telecommunications, and manufacturing through strategic engagements with entities including Davidson Technologies, NTT DOCOMO, NEC Corporation, and European research centers such as Forschungszentrum Jülich. To strengthen its financial position and support ongoing hardware scaling and go-to-market initiatives, D-Wave has optimized its balance sheet through equity financing facilities and debt restructurings, while expanding sovereign and enterprise quantum computing initiatives across key international markets.