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 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
D-Wave (QBTS) Reports Q3 2025 Results and Business Momentum
QBTS
Earnings
New Projects/Investments
Revenue Acceleration/Inflection
- 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% from the prior year, with over $12 million in bookings post-quarter including a EUR 10 million agreement for an Advantage II system in Europe.
- The company's consolidated cash balance as of September 30, 2025, reached $836.2 million, representing a 2,700% increase from the year-earlier fiscal 2024 third quarter.
- D-Wave secured a EUR 10 million contract for a D-Wave Advantage II annealing quantum computer in Italy as a founder of the Q Alliance, and an Advantage II system became operational at Davidson Technologies' headquarters to support the U.S. government.
- The company expanded its customer base to over 100 revenue-generating customers over the most recent four quarters and is progressing with its gate model program and Advantage III prototype chip fabrication.
Nov 6, 2025, 1:00 PM
D-Wave Reports Strong Q3 2025 Financial Growth and Strategic Developments
QBTS
Earnings
New Projects/Investments
Revenue Acceleration/Inflection
- D-Wave reported strong financial results for Q3 2025, with revenue increasing 100% to $3.7 million and gross profit up 156% to $2.7 million compared to Q3 2024. For the first nine months of 2025, revenue grew 235% to $21.8 million and gross profit rose 353% to $18.5 million, achieving an 84.8% gross margin.
- The company's cash position significantly improved to $836.2 million in Q3 2025, a 2,757% increase from Q3 2024, with an additional $21.3 million raised from warrant exercises post-Q3 through November 4, 2025.
- D-Wave announced strategic initiatives including founding Q-Alliance with a €10 million contract for an Advantage2™ system in Italy, and the Advantage2™ system becoming operational at Davidson Technologies for defense applications.
- New and renewing customer engagements include a major U.S. international airline, SkyWater, Japan Tobacco, Yapi Kredi, and Korea Quantum Computing.
Nov 6, 2025, 1:00 PM
D-Wave Reports Strong Q3 2025 Revenue Growth and Key Business Milestones
QBTS
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
- D-Wave reported Q3 2025 revenue of $3.7 million, marking a 100% increase year-over-year from $1.9 million, with year-to-date revenue reaching $21.8 million, up 235% from $6.5 million in the prior year.
- Bookings for Q3 2025 totaled $2.4 million, a 3% increase year-over-year, and post-quarter activity includes a EUR 10 million agreement for an Advantage II system in Europe, bringing total Q4 bookings to over $12 million to date.
- The adjusted net loss for Q3 2025 decreased to $18.1 million ($0.05 per share) from $23.2 million ($0.12 per share) in Q3 2024, although GAAP net loss increased significantly due to non-cash warrant-related charges.
- The company announced new customer engagements and successful proof-of-concept projects, including optimizing manufacturing workflows for BASF and reducing incident response times for North Wales Police, demonstrating real-world applications of its quantum solutions.
- D-Wave's Advantage II system is now operational at Davidson Technologies for U.S. government and aerospace customers, and the company maintains a strong cash balance of over $800 million.
Nov 6, 2025, 1:00 PM
D-Wave Quantum Inc. Reports Strong Q3 2025 Revenue and Record Cash Balance
QBTS
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
- D-Wave Quantum Inc. reported Q3 2025 revenue of $3.7 million, a 100% increase year-over-year, and year-to-date revenue of $21.8 million, up 235% year-over-year.
- The company achieved its highest cash balance in history at $836.2 million as of September 30, 2025.
- GAAP gross profit for Q3 2025 was $2.7 million, representing a 156% increase year-over-year, with year-to-date GAAP gross profit reaching $18.5 million, up 353% year-over-year.
- Q3 2025 bookings were $2.4 million, an 80% increase from the immediately preceding second quarter, and a €10 million booking for a D-Wave Advantage2TM system in Italy was announced for Q4 2025.
- The net loss for Q3 2025 was $(140.0) million, or $(0.41) per share, and the year-to-date net loss was $(312.7) million, or $(1.01) per share.
Nov 6, 2025, 12:02 PM
D-Wave Quantum Inc. Announces Redemption of Public Warrants
QBTS
Delisting/Listing Issues
- D-Wave Quantum Inc. (QBTS) announced the redemption of all its outstanding public warrants at a price of $0.01 per Warrant, effective November 19, 2025.
- Warrant holders have until November 19, 2025, at 5 p.m. New York City Time to exercise their warrants; otherwise, they will become void, with holders only receiving the redemption price.
- As of October 17, 2025, approximately 5 million Warrants were outstanding, and their full exercise would result in the issuance of approximately 7.2 million shares of common stock, leading to less than 2.1% dilution to existing shareholders.
- The last day for the warrants to be traded on the New York Stock Exchange is expected to be November 17, 2025.
Oct 20, 2025, 11:01 AM
Quarterly earnings call transcripts for D-Wave Quantum.
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