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D-Wave Quantum
(NYSE:QBTS)
D-Wave Quantum (QBTS) vs. S&P 500 (SPY)
D-Wave Quantum Business Overview & Revenue Model
D-Wave Quantum Financial Statement Overview
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 9.42M | 8.83M | 8.76M | 7.17M | 6.28M | 5.16M | Gross Profit |
| 6.06M | 5.56M | 4.62M | 4.25M | 4.53M | 4.25M | EBIT |
| -73.53M | -77.22M | -80.55M | -59.46M | -31.78M | -19.44M | EBITDA |
| -69.08M | -77.22M | -80.83M | -49.03M | -34.36M | -14.06M | Net Income Common Stockholders |
| -73.82M | -143.88M | -82.72M | -38.97M | -34.07M | -18.25M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 924.59K | 177.98M | 41.31M | 7.07M | 9.48M | 21.34M | Total Assets |
| 301.44M | 199.85M | 59.36M | 26.95M | 32.61M | 47.46M | Total Debt |
| 0.00 | 8.25M | 72.65M | 18.99M | 21.17M | 4.66M | Net Debt |
| -924.59K | -169.73M | 31.34M | 11.93M | 11.69M | -16.68M | Total Liabilities |
| 33.98M | 137.21M | 83.84M | 33.12M | 29.59M | 14.73M | Stockholders Equity |
| 267.46M | 62.65M | -24.48M | -6.17M | 3.02M | 32.73M |
| Cash Flow | Free Cash Flow | ||||
| -61.28M | -44.75M | -61.28M | -45.72M | -36.80M | -30.08M | Operating Cash Flow |
| -59.40M | -42.64M | -60.65M | -45.23M | -34.80M | -29.29M | Investing Cash Flow |
| -2.63M | -3.14M | -630.00K | -498.00K | -2.00M | -789.00K | Financing Cash Flow |
| 38.12M | 182.45M | 95.64M | 43.27M | 24.91M | 43.14M |
D-Wave Quantum Technical Analysis
D-Wave Quantum Risk Analysis
D-Wave Quantum Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | $19.95B | 9.66 | -12.05% | 2.76% | 5.40% | -24.89% | |
53 Neutral | $2.11B | ― | -753.98% | ― | 0.79% | -10.85% | |
46 Neutral | $938.75M | ― | -77.89% | ― | 4.19% | -65.44% | |
44 Neutral | $5.81B | ― | -76.34% | ― | 95.41% | -97.85% | |
43 Neutral | $2.60B | ― | -170.20% | ― | -10.15% | -67.68% |
D-Wave Quantum Earnings Call Summary
D-Wave Quantum Corporate Events
On March 31, 2025, D-Wave Quantum Inc. and Japan Tobacco Inc.’s pharmaceutical division completed a joint proof-of-concept project using quantum computing and AI in drug discovery. This collaboration enhanced large language models with a quantum-hybrid workflow, enabling the production of novel molecular structures. The project demonstrated the potential benefits of quantum computing in generative AI for drug discovery by providing higher quality, lower energy samples. Additionally, on the same date, D-Wave and Ford Otosan announced the deployment of a hybrid-quantum application in vehicle manufacturing, improving production sequencing for the Ford Transit line. This application showcased quantum computing’s real-world impact in automotive manufacturing, highlighting its ability to optimize processes beyond classical computing capabilities.
On March 31, 2025, D-Wave Quantum Inc. announced initiatives to boost the adoption of its quantum optimization offerings at the Qubits 2025 user conference. The company introduced updates to its hybrid quantum solvers, including support for continuous variables with linear interactions, expanding the range of real-world problems they can address. This development aims to meet the growing demand from end users, ISVs, SIs, and resellers. D-Wave is also broadening its quantum optimization use cases, enhancing applications in workforce scheduling, production scheduling, logistics routing, offer allocation, portfolio optimization, and maintenance repair operations. The announcement highlights D-Wave’s role in addressing complex optimization challenges and its partnerships with organizations like NTT DOCOMO and Ford Otosan, showcasing the practical impact of quantum computing in various industries.
On March 20, 2025, D-Wave Quantum Inc. announced the publication of a research paper introducing a novel blockchain architecture that leverages quantum computing techniques from its quantum supremacy demonstration. The architecture, featuring a ‘proof of quantum’ algorithm, aims to enhance blockchain security and efficiency by using quantum computation to generate and validate blockchain hashes. This development could significantly reduce the electricity required for blockchain operations, potentially lowering costs by up to a factor of 1,000. D-Wave successfully demonstrated this architecture across four cloud-based annealing quantum computers in Canada and the U.S., marking the first-ever instance of distributed quantum computing for blockchain. The company plans to continue developing this capability and work with partners to bring products based on this new architecture to market.
On February 18, 2025, D-Wave Quantum Inc. and Staque announced the creation of a hybrid-quantum application designed to optimize the movements of autonomous agricultural vehicles. This application, a pioneering real-world product utilizing quantum computing, aims to enhance efficiency in agricultural operations by offering real-time optimization and decision-making capabilities, thus potentially transforming farming practices by increasing crop production and reducing costs.
On February 13, 2025, D-Wave Quantum Inc. announced that the Jülich Supercomputing Centre (JSC) at Forschungszentrum Jülich has purchased a D-Wave Advantage annealing quantum computing system, marking a significant milestone as the first high-performance computing center globally to acquire such a system. This acquisition enables JSC to integrate the quantum computer with Europe’s first exascale supercomputer, JUPITER, potentially advancing fields such as AI and quantum optimization. D-Wave also announced a new program allowing research centers, academic institutions, and governments to purchase on-premises quantum computing systems, aiming to drive innovation and address dissatisfaction with competitor systems. This initiative is expected to expand D-Wave’s influence in advanced research and practical problem-solving applications.
On February 5, 2025, D-Wave Quantum Inc. announced its Qubits 2025 quantum computing user conference scheduled for March 31 and April 1 in Scottsdale, Arizona. The event, themed ‘Quantum Realized,’ will feature presentations from executives, customers, and industry leaders, showcasing the practical applications of D-Wave’s quantum technology. Attendees will gain insights into D-Wave’s latest product and technical updates, including quantum optimization, hardware development, and the integration of quantum with AI. The conference will highlight D-Wave’s positioning as a key player in the quantum computing industry, emphasizing its role in advancing quantum technologies to solve complex problems across various sectors.
On February 3, 2025, D-Wave Quantum Inc. launched its new brand campaign, ‘Quantum Realized,’ aimed at showcasing the current benefits of quantum computing. This campaign began with an open letter from CEO Dr. Alan Baratz in The Wall Street Journal, highlighting D-Wave as the only company meeting specific benchmarks for quantum computing’s commercial viability. The initiative marks a significant moment for D-Wave as it underscores its position in the quantum computing industry and aims to enhance public awareness through various channels, including advertising and events.
On January 23, 2025, D-Wave Quantum Inc. announced the successful completion of its $150 million ‘at-the-market’ equity offering program, with sales completed at an average price per share of $6.10, which was a 3.7% premium over the Volume Weighted Average Price of the stock. The company now holds a cash balance of approximately $320 million, which will be used for working capital and capital expenditures to support ongoing technical development and business operations. This financial move is seen as providing the necessary capital to execute its operating plan towards sustained profitability and positive cash flow, thereby solidifying its position in the quantum computing industry.
On January 22, 2025, D-Wave Quantum Inc. announced the launch of the Leap Quantum LaunchPad program, intended to accelerate the deployment of quantum computing applications. This initiative provides free trial access to D-Wave’s quantum technology and expertise, aiming to help customers utilize annealing quantum computing for complex business and scientific problems. The program is designed to facilitate the exploration and implementation of quantum applications, offering participants access to D-Wave’s annealing quantum computers and technical support for a three-month trial. The company also expanded access to its Quantum Programming Core and Quick Start Training programs, enhancing participants’ hands-on experience with quantum technology. This launch signifies D-Wave’s commitment to advancing quantum computing adoption and development, potentially impacting stakeholders by enabling the rapid deployment of transformative applications.
On January 15, 2025, D-Wave Quantum Inc. released an investor presentation from the 27th Annual Needham Growth Conference, highlighting financial achievements and product updates for the 2024 fiscal year. The company showcased its advancements in quantum annealing and supremacy, emphasizing its strong system reliability and diverse customer base. D-Wave’s solutions have significantly optimized business operations across various sectors, demonstrating reduced scheduling times and improved network performance, underscoring its role in the commercialization of quantum technology.
On January 15, 2025, D-Wave Quantum Inc. announced a partnership with Carahsoft Technology Corp. to expand the distribution of quantum computing solutions to the Public Sector in the United States. This collaboration aims to accelerate government adoption of quantum technology by leveraging Carahsoft’s reseller network and contract vehicles, thereby increasing visibility and accessibility of D-Wave’s solutions to address complex optimization challenges and national priorities like defense and infrastructure optimization.