QBTS Stock - D-Wave Quantum Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $8.83M | $8.76M | $7.17M | $6.28M | $5.16M |
| Gross Profit | $5.56M | $4.62M | $4.25M | $4.53M | $4.25M |
| Gross Margin | 63.0% | 52.8% | 59.2% | 72.1% | 82.3% |
| Operating Income | $-77,223,000 | $-80,546,000 | $-59,458,000 | $-38,948,000 | $-31,467,000 |
| Net Income | $-143,879,000 | $-82,715,000 | $-53,702,000 | $-40,973,000 | $-21,967,000 |
| Net Margin | -1630.0% | -944.5% | -748.7% | -652.5% | -425.7% |
| EPS | $-0.75 | $-0.60 | $-0.45 | $-0.33 | $-0.20 |
D-Wave Quantum Inc. develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Launch, a quantum computing onboarding service; Ocean a full suite of open-source programming tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community. It also provides D-Wave Launch, a quantum professional service that guides enterprises from problem discovery through in-production application deployment. The company's quantum solutions are used in artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. It serves manufacturing and logistics, financial services, life sciences, and other industries. D-Wave Quantum Inc. is based in Burnaby, Canada.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 17th 2025 | Wedbush | Initiation | Outperform | $35 |
| December 11th 2025 | Mizuho | Initiation | Outperform | $46 |
| December 3rd 2025 | Evercore ISI | Initiation | Outperform | $44 |
| August 5th 2025 | Stifel | Initiation | Buy | $26 |
| July 29th 2025 | Rosenblatt | Initiation | Buy | $30 |
| July 23rd 2025 | Canaccord Genuity | Initiation | Buy | $20 |
| July 2nd 2025 | Cantor Fitzgerald | Initiation | Overweight | $20 |
| July 25th 2024 | B. Riley Securities | Initiation | Buy | $3 |
| April 8th 2024 | Needham | Initiation | Buy | $2.5 |
| October 19th 2022 | Piper Sandler | Initiation | Overweight | $12 |
| August 30th 2022 | ROTH Capital | Initiation | Buy | $20 |
Earnings History & Surprises
QBTSEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q1 2026 | Mar 12, 2026 | $-0.05 | — | — | — |
Q4 2025 | Nov 6, 2025 | $-0.07 | $-0.41 | -525.1% | ✗ MISS |
Q3 2025 | Aug 7, 2025 | $-0.06 | $-0.55 | -816.7% | ✗ MISS |
Q2 2025 | May 8, 2025 | $-0.05 | $-0.02 | +60.0% | ✓ BEAT |
Q1 2025 | Mar 13, 2025 | $-0.09 | $-0.37 | -311.1% | ✗ MISS |
Q4 2024 | Nov 14, 2024 | $-0.08 | $-0.08 | 0.0% | = MET |
Q3 2024 | Aug 8, 2024 | $-0.09 | $-0.09 | 0.0% | = MET |
Q2 2024 | May 13, 2024 | $-0.09 | $-0.12 | -33.3% | ✗ MISS |
Q1 2024 | Mar 28, 2024 | $-0.10 | $-0.10 | 0.0% | = MET |
Q1 2024 | Mar 15, 2024 | — | $-0.21 | — | — |
Q4 2023 | Nov 9, 2023 | $-0.14 | $-0.11 | +21.4% | ✓ BEAT |
Q2 2023 | May 19, 2023 | $-0.12 | $-0.20 | -66.7% | ✗ MISS |
Q3 2022 | Aug 16, 2022 | $-0.13 | $-0.12 | +7.7% | ✓ BEAT |
Q2 2022 | May 12, 2022 | $-0.08 | $-0.11 | -31.6% | ✗ MISS |
Q4 2021 | Dec 31, 2021 | — | $-0.11 | — | — |
Q3 2021 | Sep 30, 2021 | — | $-0.04 | — | — |
Q2 2021 | Jun 30, 2021 | — | $-0.04 | — | — |
Q1 2021 | Mar 31, 2021 | — | $-0.08 | — | — |
Latest News
Wedbush Initiates Coverage On D-Wave Quantum with Outperform Rating, Announces Price Target of $35
📈 PositiveJefferies Initiates Coverage On D-Wave Quantum with Buy Rating, Announces Price Target of $45
📈 PositiveShares of quantum computing stocks are trading lower. Canada announced up to C$92 million in funding under its new Quantum Champions Program.
➖ NeutralMizuho Initiates Coverage On D-Wave Quantum with Outperform Rating, Announces Price Target of $46
📈 PositiveD-Wave Quantum To Unveil Technology Roadmap and Hybrid-Quantum Advances at January Qubits 2026 Event
📈 PositiveEvercore ISI Group Initiates Coverage On D-Wave Quantum with Outperform Rating, Announces Price Target of $44
📈 PositiveD-Wave Launches New Division to Sell Quantum Computers to the US Military
📈 PositiveShares of quantum stocks are trading lower amid a broader pullback in tech and AI names.
📉 NegativeShares of quantum computing stocks are trading lower amid overall market weakness and a sell off in tech and AI stocks.
📉 NegativeBenchmark Maintains Buy on D-Wave Quantum, Raises Price Target to $35
📈 PositiveD-Wave To Present On Its Hybrid Quantum Technologies At SC25 On Nov. 19
➖ NeutralCanaccord Genuity Maintains Buy on D-Wave Quantum, Raises Price Target to $41
📈 PositiveCantor Fitzgerald Maintains Overweight on D-Wave Quantum, Raises Price Target to $40
📈 PositiveRosenblatt Maintains Buy on D-Wave Quantum, Raises Price Target to $40
📈 PositiveShares of quantum-related stocks are trading lower as tech and growth stocks sell off amid broader market concerns.
📉 NegativeD-Wave Quantum shares are trading lower after the company reported mixed Q3 financial results.
📉 NegativeD-Wave Quantum slips as Q3 results top estimates
➖ NeutralD-Wave Quantum Q3 Adj. EPS $(0.41) Misses $(0.07) Estimate, Sales $3.738M Beat $3.033M Estimate
➖ NeutralD-Wave Quantum shares are trading higher after the company announced it completed its joint proof-of-concept project that used a hybrid-quantum application to optimize manufacturing workflows in a liquid-filling facility.
📈 PositiveD-Wave And BASF Use Quantum Computing To Cut Factory Scheduling Time From Hours To Seconds
📈 PositiveFrequently Asked Questions about QBTS
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