D-Wave Quantum Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	635.35	177.98	41.31	7.07	9.48
Short-Term Investments	249.13	-	-	-	-
Cash & Short-Term Investments	884.48	177.98	41.31	7.07	9.48
Cash Growth	396.95%	330.87%	484.67%	-25.50%	-55.55%
Accounts Receivable	1.59	1.42	1.65	0.82	0.44
Other Receivables	3.09	0.34	-	0.26	4.77
Receivables	4.68	1.76	1.65	1.08	5.21
Inventory	2.78	1.69	2.08	2.2	2.11
Prepaid Expenses	1.94	1.52	1.47	2.99	0.52
Other Current Assets	2.35	2.1	0.54	0.6	1.83
Total Current Assets	896.23	185.04	47.05	13.93	19.16
Property, Plant & Equipment	14.36	11.39	10.77	11.43	11.83
Long-Term Investments	2.39	2.57	1.17	1.17	1.17
Other Intangible Assets	0.92	0.49	0.18	0.24	0.27
Long-Term Deferred Charges	1.67	0.17	-	-	-
Other Long-Term Assets	0.25	0.18	0.19	0.18	0.18
Total Assets	915.81	199.85	59.36	26.95	32.61
Accounts Payable	0.95	0.82	1.47	3.76	2.11
Accrued Expenses	15.84	8.78	5.34	6.64	3.55
Short-Term Debt	-	-	-	0.42	-
Current Portion of Long-Term Debt	0.13	0.35	0.4	1.86	0.26
Current Portion of Leases	1.45	1.51	1.37	1.53	1.69
Current Unearned Revenue	2.78	18.69	2.67	1.78	2.67
Other Current Liabilities	-	-	-	0.05	0.02
Total Current Liabilities	21.15	30.15	11.25	16.04	10.3
Long-Term Debt	35.83	30.13	63.85	31.17	12.23
Long-Term Leases	6.05	6.39	7.03	7.3	6.99
Long-Term Unearned Revenue	0.56	0.67	0.08	0.01	0.05
Other Long-Term Liabilities	-	69.88	1.63	1.89	0.02
Total Liabilities	63.58	137.21	83.84	56.41	29.59
Common Stock	0.04	0.03	0.02	0.01	-
Additional Paid-In Capital	1,843	700.07	469.08	381.27	148.85
Retained Earnings	-982	-626.94	-483.06	-400.35	-325.27
Comprehensive Income & Other	-9.02	-10.51	-10.52	-10.4	-10.44
Total Common Equity	852.23	62.65	-24.48	-29.46	-186.86
Shareholders' Equity	852.23	62.65	-24.48	-29.46	3.02
Total Liabilities & Equity	915.81	199.85	59.36	26.95	32.61
Total Debt	43.46	38.38	72.65	42.29	21.17
Net Cash (Debt)	841.02	139.6	-31.34	-35.22	-11.69
Net Cash Growth	502.44%	-	-	-	-
Net Cash Per Share	2.62	0.73	-0.23	-0.29	-3.69
Filing Date Shares Outstanding	369.91	291.35	161.68	127.17	3.17
Total Common Shares Outstanding	358.74	266.6	161.12	113.34	3.17
Working Capital	875.08	154.9	35.8	-2.12	8.86
Book Value Per Share	2.38	0.23	-0.15	-0.26	-59.00
Tangible Book Value	851.32	62.16	-24.66	-29.71	-187.13
Tangible Book Value Per Share	2.37	0.23	-0.15	-0.26	-59.09
Machinery	28.78	26.42	24.64	24.24	23.69
Construction In Progress	2.51	0.84	0.89	0.09	0.29
Leasehold Improvements	2.41	1.89	1.08	1.08	1.07

Source: S&P Global Market Intelligence. Standard template. Financial Sources.