D-Wave Quantum Inc.

D-Wave Quantum Inc.

QBTS
D-Wave Quantum Inc.US flagNew York Stock Exchange
17.66
USD
-0.14
- -
6.49BMarket Cap
D-Wave Quantum Inc.
QBTS
(New York Stock Exchange)

Recent

price

17.66

P/E

ratio

- -

div

yld

- -

ROIC.AI

2020
2021
2022
2023
2024
2025
TTM
FRC
0.05
0.06
0.06
0.06
0.05
0.08
0.04
Revenue per Share
-0.2
-0.37
-0.45
-0.6
-0.75
-1.11
-1.08
Basic EPS, GAAP
-0.27
-0.34
-0.38
-0.44
-0.23
-0.24
-0.3
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
-2.65
-3.16
-3.35
-3.5
-3.26
-3.06
-2.93
Book Value per Share
-1.43
-1.9
-0.25
-0.18
0.32
2.65
1.66
Tangible Book Value per Share
110
110
120
138
192
321
341
Basic Weighted Avg Shares
5
6
7
9
9
25
12
Sales/Revenue/Turnover
-609.83
-620.29
-828.91
-919.68
-874.85
-408.22
-1,155.61
Operating Margin (%)
3
3
2
2
2
2
6
Depreciation Expense
-22
-41
-54
-83
-144
-355
-368
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
-425.72
-652.54
-748.67
-944.45
-1,629.99
-1,444.1
-2,957.23
Profit Margin (%)
29
6
-2
36
155
875
579
Working Capital
3
37
38
71
37
42
45
LT Debt
33
-18
-29
-24
63
852
1,124
Total Equity
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)

Capital Structure

FRC

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
7,190
8,393
4,924

Working Capital

FRC

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

FRC

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

FRC

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

FRC

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

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Business
D-Wave Quantum Inc. (NYSE: QBTS) develops and delivers quantum computing systems, software, and services worldwide, specializing in annealing quantum computers for practical optimization applications across industries including logistics, financial services, manufacturing, life sciences, and artificial intelligence. The company offers Advantage and Advantage2 quantum computers, featuring over 4,400 qubits in the latest fifth-generation systems; Leap quantum cloud service, providing real-time access to quantum hardware and hybrid solvers with production-grade security and 99.9% uptime; Ocean suite of open-source developer tools; Launch professional services program for enterprise onboarding from problem discovery to production deployment; and Quantum QuickStart training, alongside hybrid solver services combining quantum and classical resources for enterprise-scale problems. Founded in 1999 and headquartered in Palo Alto, California, with key research facilities in Burnaby, British Columbia, Canada, and additional offices supporting sales and operations in the United States, Europe, and Asia, D-Wave serves commercial enterprises, government agencies, research institutions, and developers targeting complex challenges such as employee scheduling, portfolio optimization, vehicle routing, drug discovery, and fault detection. In recent developments, the company launches the general availability of its most advanced Advantage2 system via cloud and on-premises in 2025, secures $400 million in funding to fuel expansion and scale toward 100,000-qubit targets, deepens strategic partnership with NASA's Jet Propulsion Laboratory for cryogenic packaging and multichip interconnect advancements, teams with Carahsoft for U.S. government sales, and delivers systems to Davidson Technologies for national defense applications; earlier, it formed a technical and commercial alliance with Zapata AI to integrate quantum annealing with generative AI for molecule discovery and machine learning.

Company News

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