Joseph McCormack

Joseph McCormack of Evercore asked about the impact of Quantum Circuits (QCI) on D-Wave's sales pipeline increase, specifically referencing the over $2 million in QCI bookings in January, and requested details on the levels of engagement and backlog for QCI as D-Wave enters fiscal year 2026.

Answer

CFO John Markovich stated that Quantum Circuits is expected to contribute revenue this year from professional services, QCaaS, and government-related business, building on its existing book of government-related business from the previous year. He also mentioned the expectation to develop a sales pipeline for potential system sales. CEO Alan Baratz added that D-Wave is observing significant interest in the dual-rail systems, including the operational 8-qubit system and the upcoming 17-qubit system, with several current annealing customers expressing interest.

Joe McCormack inquired about the impact of Quantum Circuits (QCI) on D-Wave's sales pipeline increase, specifically the over $2 million in QCI bookings in January, and sought details on QCI's book of business and backlog entering fiscal 2026.

Answer

CFO John Markovich stated that QCI is expected to contribute revenue this year from professional services, QCaaS, and government-related business, and will also develop a sales pipeline for potential system sales. CEO Alan Baratz added that there is significant interest in the dual-rail systems, including the 8-qubit system, from existing annealing customers.