D-Wave Quantum sees FY24 bookings over $23M

The company said, “D-Wave Quantum (QBTS) Inc. announced that fiscal year 2024 bookings will exceed $23 million, an increase of approximately 120% over fiscal year 2023 bookings. Contributing to the growth in bookings, the company also announced the first-ever customer purchase of a D-Wave Advantage annealing quantum computing system reflecting a significant expansion to the company’s revenue model as it broadens its overall go-to-market offering to include on-premise system sales. The first customer purchase of a D-Wave Advantage system, the world’s largest quantum computer with more than 5,000 qubits and 15-way connectivity, exemplifies growing adoption of D-Wave’s annealing quantum technology. By purchasing an on-premise system, customers have complete access to all aspects of the Advantage quantum computer, including the ability to modify system parameters and integrate the system in ways previously unavailable to them. The purchase comes amid growing demand for on-premise D-Wave quantum systems from research centers, academic institutions, HPC centers, and leading-edge businesses looking to accelerate competitive differentiation, bolster national security, and explore how quantum computing can address challenges resulting from AI’s escalating power consumption. D-Wave’s on-premise infrastructure offering is complementary to its Leap quantum cloud service, which we believe will continue to be the approach of choice for many application-focused customers.”