D-Wave Quantum Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	24.14	8.83	8.76	7.17	6.28	5.16
Revenue Growth (YoY)	156.20%	0.79%	22.10%	14.24%	21.69%	-
Cost of Revenue	4.15	3.26	4.14	2.92	1.75	0.92
Gross Profit	20	5.56	4.62	4.25	4.53	4.25
Selling, General & Admin	58.95	47.49	47.29	31.61	18.34	15.57
Research & Development	46.81	35.3	37.88	32.1	25.13	20.14
Operating Expenses	105.76	82.79	85.17	63.71	43.48	35.71
Operating Income	-85.76	-77.22	-80.55	-59.46	-38.95	-31.47
Interest Expense	-1.05	-3.9	-2.16	-2.34	-1.73	-5.26
Currency Exchange Gain (Loss)	-4.1	-	-	-	0.6	0.6
Other Non Operating Income (Expenses)	-308.94	-63.61	-0.65	8.09	7.37	22.23
EBT Excluding Unusual Items	-399.65	-144.73	-83.36	-53.7	-32.71	-13.89
Gain (Loss) on Sale of Investments	0.85	1.5	-	-	1.16	-
Other Unusual Items	-0.01	-0.65	0.64	-	-	3.87
Pretax Income	-398.81	-143.88	-82.72	-53.7	-31.55	-10.02
Net Income	-398.81	-143.88	-82.72	-53.7	-31.55	-10.02
Net Income to Common	-398.81	-143.88	-82.72	-53.7	-31.55	-10.02
Shares Outstanding (Basic)	291	192	138	120	3	-
Shares Outstanding (Diluted)	291	192	138	120	3	-
Shares Change (YoY)	68.07%	39.23%	15.33%	3678.01%	-	-
EPS (Basic)	-1.37	-0.75	-0.60	-0.45	-9.96	-
EPS (Diluted)	-1.37	-0.75	-0.60	-0.45	-9.96	-
Free Cash Flow	-54.75	-44.75	-61.23	-45.65	-36.57	-30.02
Free Cash Flow Per Share	-0.19	-0.23	-0.44	-0.38	-11.55	-
Gross Margin	82.82%	63.02%	52.78%	59.25%	72.13%	82.27%
Operating Margin	-355.21%	-874.85%	-919.68%	-828.91%	-620.29%	-609.83%
Profit Margin	-1651.81%	-1629.99%	-944.45%	-748.67%	-502.39%	-194.17%
Free Cash Flow Margin	-226.75%	-506.96%	-699.15%	-636.40%	-582.48%	-581.84%
EBITDA	-84.36	-76.11	-79.49	-58.04	-37.41	-29.58
D&A For EBITDA	1.4	1.11	1.05	1.42	1.53	1.89
EBIT	-85.76	-77.22	-80.55	-59.46	-38.95	-31.47

Updated Nov 6, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q