Earnings summaries and quarterly performance for D-Wave Quantum.
Executive leadership at D-Wave Quantum.
Board of directors at D-Wave Quantum.
Research analysts who have asked questions during D-Wave Quantum earnings calls.
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Recent press releases and 8-K filings for QBTS.
D-Wave Quantum Reports Q4 and FY 2025 Financial Results, Announces Key Agreements, and Product Advancements
QBTS
Earnings
New Projects/Investments
Product Launch
- D-Wave Quantum reported FY 2025 revenue of $24.6 million and Q4 2025 revenue of $2.8 million, with a liquidity position of $884.5 million at the end of Q4 2025.
- The company secured a $10 million, two-year enterprise Quantum Computing as a Service (QCaaS) agreement with a Fortune 100 company, with revenue recognition commencing in Q1 FY26.
- A $20 million system purchase agreement was announced with Florida Atlantic University for an Advantage2 annealing quantum computer, slated for deployment by the end of 2026.
- In January 2026, D-Wave introduced the General Availability of its Advantage2™ System and demonstrated quantum supremacy on a real-world problem.
2 days ago
D-Wave Quantum Reports Record FY2025 Revenue and Completes Quantum Circuits Acquisition
QBTS
Earnings
M&A
Revenue Acceleration/Inflection
- D-Wave Quantum achieved record revenue of $24.6 million for fiscal 2025, representing a 179% year-over-year increase, with Q4 2025 revenue totaling $2.8 million.
- The company completed the acquisition of Quantum Circuits, positioning D-Wave as the only dual-platform quantum computing company capable of delivering both annealing and gate model systems.
- Commercial momentum accelerated significantly, with Q4 2025 bookings of $13.4 million, a 471% sequential increase from the prior quarter, and bookings in January 2026 already exceeding the total for fiscal 2025.
- Key deals include a $20 million system sale with Florida Atlantic University and a two-year, $10 million enterprise Quantum Compute as a Service (QCaaS) agreement with a Fortune 100 company.
- D-Wave ended fiscal 2025 with a strong liquidity position, reporting $884.5 million in consolidated cash and marketable securities as of December 31, 2025, after raising over $800 million in gross proceeds during the year.
2 days ago
D-Wave Quantum Reports Record Fiscal 2025 Revenue and Strategic Acquisition
QBTS
Earnings
Revenue Acceleration/Inflection
M&A
- D-Wave Quantum reported record revenue of $24.6 million for fiscal 2025, marking a 179% increase year-over-year, with Q4 2025 revenue at $2.8 million.
- While fiscal 2025 bookings were $18.7 million, the company secured over $32.8 million in additional bookings subsequent to year-end, including a $20 million system sale and a $10 million enterprise quantum compute as a service agreement.
- The acquisition of Quantum Circuits was completed, establishing D-Wave as the only dual-platform quantum computing company offering both annealing and gate model solutions.
- As of December 31, 2025, D-Wave's consolidated cash and marketable securities balance totaled $884.5 million, a 397% increase from the prior year.
- For fiscal year 2026, D-Wave anticipates OpEx to grow 15% sequentially quarter-over-quarter, including the integration of Quantum Circuits, and expects incrementally higher revenue growth in the second half of the year.
2 days ago
D-Wave Quantum Reports Record FY2025 Revenue and Strategic Acquisition, Announces Significant Early 2026 Bookings
QBTS
Earnings
M&A
Revenue Acceleration/Inflection
- D-Wave Quantum reported record revenue of $24.6 million for fiscal year 2025, marking a 179% increase year-over-year, with Q4 bookings reaching $13.4 million.
- The company completed the acquisition of Quantum Circuits, establishing D-Wave as the only dual-platform quantum computing company offering both annealing and gate model systems.
- Subsequent to fiscal year 2025, D-Wave secured over $32.8 million in additional bookings, including a $20 million system sale to Florida Atlantic University and a two-year, $10 million enterprise quantum compute as a service agreement with a Fortune 100 company.
- D-Wave ended fiscal 2025 with $884.5 million in consolidated cash and marketable securities, and expects quarterly operating expenses to increase by approximately 15% sequentially in 2026, with higher revenue growth anticipated in the second half of the year.
2 days ago
D-Wave Quantum Inc. Announces Fourth Quarter and Full Year 2025 Results
QBTS
Earnings
Revenue Acceleration/Inflection
M&A
- D-Wave Quantum Inc. reported FY 2025 revenue of $24.6 million, marking a 179% increase year-over-year from $8.8 million in FY 2024.
- The company achieved a record liquidity position of $884.5 million in consolidated cash and marketable investment securities as of December 31, 2025, a 397% increase from fiscal year 2024.
- For the fourth quarter of fiscal 2025, revenue increased 19% to $2.8 million compared to the prior year's fourth quarter.
- D-Wave completed the acquisition of Quantum Circuits, Inc., a developer of error-corrected superconducting gate-model quantum computing systems.
- Subsequent to Q4 2025, the company secured significant new bookings, including a $20 million system purchase and a $10 million, two-year enterprise QCaaS agreement, contributing to over $32.8 million in year-to-date 2026 Bookings as of February 25, 2026.
2 days ago
D-Wave Reports Fourth Quarter and Year-End 2025 Results
QBTS
Earnings
Revenue Acceleration/Inflection
M&A
- D-Wave reported FY 2025 revenue of $24.6 million, an increase of 179% year over year, and GAAP gross profit of $20.3 million, up 265% year over year.
- The company ended 2025 with its highest liquidity position in history, with $884.5 million in consolidated cash and marketable investment securities as of December 31, 2025, a 397% increase from the fiscal 2024 fourth quarter.
- For the fiscal year ended December 31, 2025, D-Wave reported a GAAP net loss of $355.1 million, or $1.11 per share, and an Adjusted Net Loss of $84.5 million, or $0.26 per share.
- While Bookings for FY 2025 decreased 22% to $18.7 million, the company generated over $30 million in Bookings in January 2026 alone.
- Strategic developments include the acquisition of gate-model quantum computing company Quantum Circuits, Inc., securing an eight-figure enterprise QCaaS agreement, and announcing a new corporate headquarters in Boca Raton, Florida, with the transition expected by the end of 2026.
2 days ago
D-Wave Quantum Inc. Announces $10 Million QCaaS Agreement
QBTS
New Projects/Investments
Revenue Acceleration/Inflection
- D-Wave Quantum Inc. (QBTS) announced a $10 million, two-year enterprise Quantum Computing as a Service (QCaaS) agreement with a leading Fortune 100 company.
- This agreement involves a collaboration to develop and deploy several quantum-powered applications.
- D-Wave's CEO, Dr. Alan Baratz, stated that this marks a significant milestone in the enterprise adoption and impact of D-Wave's annealing quantum computing.
Jan 27, 2026, 3:08 PM
D-Wave Quantum Inc. Announces $20M Agreement with Florida Atlantic University
QBTS
New Projects/Investments
- D-Wave Quantum Inc. announced that Florida Atlantic University (FAU) has signed an agreement to purchase and install an Advantage2™ annealing quantum computer at its Boca Raton campus.
- This agreement represents a $20 million commitment from FAU, with the system deployment expected later in 2026.
- The initiative aims to advance quantum computing education, research, and innovation in Florida, potentially including the creation of a D-Wave Quantum Applications Academy at FAU.
- D-Wave also announced its new corporate headquarters will be established at the Boca Raton Innovation Center.
Jan 27, 2026, 12:17 PM
D-Wave Quantum Enters $20M Agreement with FAU and Establishes New Headquarters
QBTS
New Projects/Investments
Revenue Acceleration/Inflection
- D-Wave Quantum Inc. has entered into a $20 million agreement with Florida Atlantic University (FAU) for the purchase and installation of an Advantage2™ annealing quantum computer.
- The Advantage2 system is anticipated to be deployed later in 2026, forming the basis for a collaboration aimed at advancing quantum computing education, research, and innovation in Florida.
- Separately, D-Wave announced it will establish its new corporate headquarters at the Boca Raton Innovation Center, which will serve as a key U.S. development hub.
Jan 27, 2026, 12:16 PM
D-Wave Announces Q3 2025 Results
QBTS
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
- D-Wave reported Q3 2025 revenue of $3.7 million, a 100% increase from Q3 2024, and Q3 2025 bookings of $2.4 million, up 3% year-over-year and 80% from the immediately preceding fiscal 2025 second quarter. The company's consolidated cash balance totaled $836.2 million as of September 30, 2025.
- The company signed a EUR 10 million contract for a D-Wave Advantage2 annealing quantum computer in Italy, which will be reflected in Q4 bookings. Additionally, an Advantage2 system is now operational at Davidson Technologies headquarters in Huntsville, Alabama, to support U.S. Department of Defense and aerospace customers.
- D-Wave highlighted over 100 revenue-generating customers over the most recent four quarters, including new and renewing engagements with a major U.S.-based international airline, SkyWater, Japan Tobacco's pharmaceutical division, Yapı Kredi, and Korean Quantum Computing.
- The company emphasized its Advantage2 system's ability to demonstrate quantum supremacy on useful real-world problems, noting it was 1,000x faster than other classical and quantum approaches in an IBM study for multi-objective optimization problems.
Nov 6, 2025, 1:00 PM
Quarterly earnings call transcripts for D-Wave Quantum.
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