- NEGATIVE
Quarterly Revenue D-Wave Quantum Inc Jun-2026 Quarterly Revenue is $3 Million which is growth of -0.6% YoY.
- POSITIVE
Quarterly Net Profit D-Wave Quantum Inc Jun-2026 Quarterly Net Profit is $-48 Million which is growth of 71.3% YoY.
11.78-1.04(-8.11%)
17.5M
XNAS Volume
XNAS 16 Oct, 2026 5:30 PM (EDT)
D-Wave Quantum Inc quarterly and annual earnings report: results, revenue, profit, P&L, balance sheet, cash flow, financial ratios, revenue mix, peer comparison, and financial documents
Forecaster Analyst Estimates for D-Wave Quantum Inc share price target, revenues, EPS, net income and more
D-Wave Quantum Inc quarterly results: revenue, profit, and P&L – 13 quarter history
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| Indicator | Graph | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Rev. | 3.1 | 2.9 | 2.8 | 3.7 | 3.1 | 15 | 2.3 | 1.9 | 2.2 | 2.5 | 2.9 | 2.6 | 1.7 | |
Cost Of Rev. | 1.4 | 1 | 1 | 1.1 | 1.1 | 1.1 | 0.8 | 0.8 | 0.8 | 0.8 | 0.9 | 1 | 1 | |
Gross Profit | 1.7 | 1.8 | 1.8 | 2.7 | 2 | 13.9 | 1.5 | 1 | 1.4 | 1.7 | 2 | 1.5 | 0.7 | |
| 55 | 56.5 | 36.6 | 30.4 | 28.5 | 25.2 | 21.7 | 21.7 | 20.2 | 19.2 | 19.6 | 18.9 | 21.6 | ||
Operating Profit | -53.3 | -54.7 | -34.8 | -27.7 | -26.5 | -11.3 | -20.2 | -20.6 | -18.8 | -17.5 | -17.6 | -17.4 | -20.9 | |
| 4.8 | 5.5 | 20.7 | -0.2 | -0.2 | -0.2 | -0.4 | -1.2 | -1.2 | -1.1 | 2.4 | -2 | -2.2 | ||
Profit Before Tax | -48 | -46.8 | -42.3 | -140 | -167.3 | -5.4 | -86.1 | -22.7 | -17.8 | -17.3 | -16.4 | -15.8 | -25.9 | |
Tax | 0 | -28.5 | - | - | - | - | - | - | - | - | - | - | - | |
| -48 | -18.4 | -42.3 | -140 | -167.3 | -5.4 | -86.1 | -22.7 | -17.8 | -17.3 | -16.4 | -15.8 | -25.9 | ||
Diluted NI Avail to Com Stockholders Ann. | -48 | -18.4 | -42.3 | -140 | -167.3 | -5.4 | -86.1 | -22.7 | -17.8 | -17.3 | -16.4 | -15.8 | -25.9 | |
Basic EPS | -0.1 | -0.1 | -0.1 | -0.4 | -0.6 | -0 | -0.4 | -0.1 | -0.1 | -0.1 | -0.1 | -0.1 | -0.2 | |
Diluted EPS After ExtraOrdinary | -0.1 | -0.1 | -0.1 | -0.1 | -0.1 | -0 | -0.1 | -0.1 | -0.1 | -0.1 | -0.1 | -0.1 | -0.2 | |
Number Of Shares End | 370.8 | 367.5 | 353.3 | 342.2 | 302.3 | 286.4 | 233.3 | 201.6 | 172.1 | 161.3 | 157.9 | 133.2 | 127.3 | |
Net Income Continuing Discontinued Operations | -48 | -18.4 | -42.3 | -140 | -167.3 | -5.4 | -86.1 | -22.7 | -17.8 | -17.3 | -16.4 | -15.8 | -25.9 | |
Normalized Income | -40 | -14.1 | -24.6 | -18.1 | -16.7 | -5.3 | -17.8 | -18.7 | -15.6 | -15 | -16.4 | -11.4 | -18.7 | |
Interest Income | 5 | 5.8 | - | - | - | - | - | - | - | - | - | - | - | |
Interest | 0.3 | 0.3 | 3.4 | 0.2 | 0.2 | 0.2 | 0.4 | 1.2 | 1.2 | 1.1 | -2.4 | 1.3 | 0.8 | |
Net Interest Income | 4.8 | 5.5 | 20.7 | -0.2 | -0.2 | -0.2 | -0.4 | -1.2 | -1.2 | -1.1 | 2.4 | -2 | -2.2 | |
EBIT | -52.8 | -52.3 | -63.1 | -139.8 | -167.1 | -5.2 | -85.7 | -21.5 | -16.6 | -16.2 | -18.8 | -14.6 | -25.1 | |
EBITDA | -47.7 | -48.2 | -62.4 | -139.2 | -166.6 | -4.6 | -85.1 | -21.1 | -16.1 | -15.7 | -18.4 | -14.2 | -24.6 | |
Reconciled Cost Of Rev. | 1.4 | 1 | 1 | 1.1 | 1.1 | 1.1 | 0.8 | 0.8 | 0.8 | 0.8 | 0.9 | 1 | 1 | |
Reconciled Depr. | 5.1 | 4.2 | 0.7 | 0.6 | 0.5 | 0.6 | 0.6 | 0.5 | 0.5 | 0.4 | 0.4 | 0.4 | 0.5 | |
Profit From Continuing Operations | -48 | -18.4 | -42.3 | -140 | -167.3 | -5.4 | -86.1 | -22.7 | -17.8 | -17.3 | -16.4 | -15.8 | -25.9 | |
Normalized EBITDA | -42.7 | -44.3 | -26.7 | -18.2 | -24.6 | -8.6 | -16.8 | -21.6 | -18.2 | -14.8 | -18.7 | -15.6 | -22.2 |
*All financials are in USD Million and price data in USD
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D-Wave Quantum Inc competitor comparison and performance snapshot within industry
D-Wave Quantum Inc annual results: revenue, profit, P&L, and margins as of Dec 2025 – 11 year history
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- POSITIVE
Annual Revenue D-Wave Quantum Inc Dec-2025 Annual Revenue is $25 Million which is growth of 178.5% YoY.
- NEGATIVE
Annual Net Profit D-Wave Quantum Inc Dec-2025 Annual Net Profit is $-355 Million which is growth of -146.8% YoY.
| Indicator | Graph | CAGR 3 Yrs | CAGR 5 Yrs | TTM | Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 |
|---|---|---|---|---|---|---|---|---|---|---|
50.6% | 36.5% | 24.6 | 8.8 | 8.8 | 7.2 | 6.3 | 5.2 | |||
Cost Of Rev. Ann. | 14% | 36.7% | 4.5 | 4.3 | 3.3 | 4.1 | 2.9 | 1.8 | 0.9 | |
Gross Profit Ann. | 67.8% | 36.4% | 8 | 20.3 | 5.6 | 4.6 | 4.3 | 4.5 | 4.3 | |
Operating Exp. Ann. | 23.7% | 27.6% | 178.6 | 120.7 | 82.8 | 85.2 | 63.7 | 36.3 | 35.7 | |
Operating Profit Ann. | - | - | -170.6 | -100.4 | -77.2 | -80.6 | -59.5 | -31.8 | -31.5 | |
171.9% | - | 30.8 | 20.1 | -3.9 | -2.2 | 1 | -1.7 | -5.2 | ||
Other Exp. Ann. | - | - | -274.8 | -62.8 | -0 | 6.9 | 2 | 14.7 | ||
PBT Ann. | - | - | -277.1 | -355.1 | -143.9 | -82.7 | -51.5 | -31.5 | -22 | |
Tax Ann. | - | - | - | - | - | - | - | - | ||
- | - | -248.7 | -355.1 | -143.9 | -82.7 | -51.5 | -31.6 | -22 | ||
Diluted NI Avail to Com Stockholders Ann. | - | - | -248.7 | -355.1 | -143.9 | -82.7 | -51.5 | -31.6 | -22 | |
EPS Ann. | - | - | -1.1 | -0.8 | -0.6 | -0.4 | -0.3 | -0.2 | ||
Diluted EPS Ann. | - | - | -1.1 | -0.8 | -0.6 | -0.4 | -0.3 | -0.2 | ||
Number Of Shares End | 46.8% | - | 353.3 | 233.3 | 157.9 | 111.6 | 109.7 | - | ||
Total Exp. Ann. | 23.4% | 27.8% | 125 | 86.1 | 89.3 | 66.6 | 38.1 | 36.6 | ||
Net Income Continuing Discontinued Operations Ann. | - | - | -248.7 | -355.1 | -143.9 | -82.7 | -51.5 | -31.6 | -22 | |
Normalized Income Ann. | - | - | -96.9 | -59.9 | -75.6 | -60.1 | -49.2 | -31.1 | -30.5 | |
Interest Income Ann. | 61.7% | - | 24.1 | - | - | 5.7 | - | |||
Interest Ann. | -4.6% | -5.1% | 4.1 | 4 | 3.9 | 0 | 4.6 | 1.7 | 5.2 | |
EBITDA Ann. | - | - | -297.5 | -372.9 | -138.1 | -80.8 | -50.2 | -27.2 | -14.8 | |
Reconciled Cost Of Rev. Ann. | 14% | 36.7% | 4.5 | 4.3 | 3.3 | 4.1 | 2.9 | 1.8 | 0.9 | |
Reconciled Depr. Ann. | 0% | -3.2% | 10.5 | 2.3 | 1.9 | 1.8 | 2.3 | 2.6 | 2.7 | |
Profit From Continuing Operations Ann. | - | - | -248.7 | -355.1 | -143.9 | -82.7 | -51.5 | -31.5 | -22 | |
Normalized EBITDA Ann. | - | - | -131.9 | -78 | -71.3 | -81.1 | -50.1 | -28.4 | -25.8 |
*All financials are in USD Million and price data in USD
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Total Rev. Ann.
1Y CHG
179.5%
2Y CAGR
67.2%
3Y CAGR
50.6%
5Y CAGR
36.5%
Total Revenue Annual growth is higher than historical averages.
Operating Exp. Ann.
1Y CHG
45.8%
2Y CAGR
19%
3Y CAGR
23.7%
5Y CAGR
27.6%
Operating Expenses Annual Cr growth is higher than historical averages.
D-Wave Quantum Inc balance sheet as of Dec 2025: assets, liabilities, reserves, and borrowings – 11 year history
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- POSITIVE
Total Shareholders Fund D-Wave Quantum Inc Dec-2025 Total Shareholders Fund is $852 Million which is growth of 1260.4% YoY.
- POSITIVE
Total Assets D-Wave Quantum Inc Dec-2025 Total Assets is $916 Million which is growth of 358.2% YoY.
| Indicator | Graph | CAGR 3 Yrs | CAGR 5 Yrs | Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 |
|---|---|---|---|---|---|---|---|---|---|
223.7% | 80.7% | 915.8 | 199.9 | 59.4 | 27 | 32.6 | 47.5 | ||
24.6% | 34% | 63.6 | 137.2 | 83.8 | 32.9 | 29.6 | 14.7 | ||
- | - | 852.2 | 62.7 | -24.5 | -5.9 | -186.9 | -157.2 | ||
Total Capitalization Ann. | 676.1% | 91.9% | 888.1 | 92.8 | 39.4 | 1.9 | 15.3 | 34.1 | |
Tangible Assets Ann. | - | 92% | 851.3 | 62.2 | -24.7 | -6.2 | 2.8 | 32.6 | |
Working Capital Ann. | - | 97.3% | 875.1 | 154.9 | 35.8 | -1.9 | 8.9 | 29.3 | |
Invested Capital Ann. | 505.6% | - | 888.2 | 93.1 | 39.8 | 4 | -174.4 | -155.5 | |
Tangible Book Value Ann. | - | - | 851.3 | 62.2 | -24.7 | -6.2 | -187.1 | -157.3 | |
Borrowings Ann. | 32.5% | 56.1% | 43.5 | 38.4 | 72.7 | 18.7 | 21.2 | 4.7 | |
Net Debt Ann. | - | - | - | - | 22.9 | 2.8 | 3 | - | |
Share Issued Ann. | 46.8% | 26.7% | 358.7 | 266.6 | 161.1 | 113.3 | 109.7 | 109.7 | |
Number Of Shares End | 46.8% | - | 353.3 | 233.3 | 157.9 | 111.6 | 109.7 | - |
*All financials are in USD Million and price data in USD
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Total Assets Ann.
1Y CHG
358.1%
2Y CAGR
292.7%
3Y CAGR
223.7%
5Y CAGR
80.7%
Total Assets Annual growth is higher than historical averages.
Total Current Liabilities Ann.
1Y CHG
-29.6%
2Y CAGR
37%
3Y CAGR
10.1%
5Y CAGR
12.1%
Total Current Liabilities Annual Cr is falling faster than historical averages.
Total ShareHolders Funds Ann.
1Y CHG
1259.2%
Total ShareHolders Funds Annual growth is higher than historical averages.
D-Wave Quantum Inc ROE, ROCE, book value, and debt-to-equity ratio as of Dec 2025 – 11 year history
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- POSITIVE
Book Value Per Share D-Wave Quantum Inc Book Value Per Share is $2 which is growth of 2955.3% YoY.
- NEUTRAL
ROE D-Wave Quantum Inc ROE is 0% which is growth of 0% YoY.
| Indicator | Graph | CAGR 3 Yrs | CAGR 5 Yrs | Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 |
|---|---|---|---|---|---|---|---|---|---|
RoA Ann. % | - | - | - | -111.01% | -191.69% | -173.04% | -78.79% | -46.28% | |
ROE Ann. % | - | - | - | -753.98% | - | - | - | - | |
ROIC % | - | - | - | -123.5 | - | - | - | - | |
OPM Ann. % | - | - | -408.22% | -874.85% | -919.68% | -828.91% | -506.15% | -609.83% | |
Inventory Turnover Ratio Ann. | - | - | - | 1.7 | 1.9 | 1.4 | 0.8 | 0.4 | |
Asset Turnover Ann. % | - | - | - | 0.1 | 0.2 | 0.2 | 0.2 | 0.1 | |
Working Capital Turnover Ann. | - | - | 0 | 0.1 | 0.2 | -3.7 | 0.7 | 0.2 | |
Quick Ratio Ann. | - | - | - | 6 | 3.8 | 0.5 | 1.4 | 3.1 | |
Current Ratio Ann. | - | - | - | 6.1 | 4.2 | 0.9 | 1.9 | 3.5 | |
Interest Coverage Ratio Ann. | - | - | - | -35.9 | -2,234.5 | -10.1 | -17.3 | -3.2 | |
LT Debt To Equity Ann. | - | - | - | 0.6 | - | - | - | - |
*All financials are in USD Million and price data in USD
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D-Wave Quantum Inc cash flow: net, operating, investing, and financing flows as of Dec 2025 – 11 year history
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- NEGATIVE
Cash From Operating Activity D-Wave Quantum Inc Dec-2025 Cash From Operating Activity is $-72 Million which is growth of -68.8% YoY.
- POSITIVE
Net Cash Flow D-Wave Quantum Inc Dec-2025 Net Cash Flow is $456 Million which is growth of 233.7% YoY.
| Indicator | Graph | CAGR 3 Yrs | CAGR 5 Yrs | Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 |
|---|---|---|---|---|---|---|---|---|---|
- | - | -72 | -42.6 | -60.7 | -45.2 | -34.8 | -29.3 | ||
- | - | -251.1 | -3.1 | -0.6 | -0.5 | -2 | -0.8 | ||
162.1% | 78.4% | 779.2 | 182.5 | 95.6 | 43.3 | 24.9 | 43.1 | ||
Cash Plus Cash Eqv. End Of Year Ann. | 347.3% | 97.2% | 635.4 | 178 | 41.3 | 7.1 | 9.5 | 21.3 | |
Net Increase In Cash Plus Cash Eqv.s Ann. | - | 103.4% | 456 | 136.7 | 34.4 | -2.5 | -11.9 | 13.1 | |
Cash Plus Cash Eqv. Begin Of Year Ann. | 165.6% | 84.6% | 178 | 41.3 | 7.1 | 9.5 | 21.3 | 8.3 | |
Income Tax Paid Supplemental Data Ann. | - | - | - | - | - | - | - | - | |
Interest Paid Supplemental Data Ann. | - | - | 0 | 5.2 | - | - | - | - | |
Capex Ann. | - | - | -4.3 | -2.4 | -0.6 | -0.5 | -2 | -0.8 | |
Issuance Of Capital Stock Ann. | 143.1% | 67.4% | 574.5 | 214.2 | 40 | 43.7 | |||
Issuance Of Debt Ann. | -72.9% | - | 0.4 | 29 | 20 | 0.1 | |||
Repayment Of Debt Ann. | - | - | -0.4 | -30.4 | -2.3 | -21.9 | -0.4 | ||
Repurchase Of Capital Stock Ann. | - | - | - | - | - | - | - | - | |
Free Cash Flow Ann. | - | - | -76.3 | -45 | -61.3 | -47.5 | -36.8 | -30.1 |
*All financials are in USD Million and price data in USD
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Cash from Financing Act. Ann.
1Y CHG
327%
2Y CAGR
185.5%
3Y CAGR
162.1%
5Y CAGR
78.4%
Cash from Financing Annual Activity growth is higher than historical averages.