D-Wave Quantum Inc. (QBTS)

NASDAQ: QBTS · Real-Time Price · USD

20.23

+0.04 (0.20%)

At close: Aug 11, 2026, 4:00 PM EDT

20.20

-0.03 (-0.15%)

After-hours: Aug 11, 2026, 7:59 PM EDT

D-Wave Quantum Financials Overview

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

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Revenue	12.43	24.59	8.83	8.76	7.17	6.28
Revenue Growth	-44.22%	178.54%	0.79%	22.10%	14.24%	21.69%
Gross Profit	7.98	20.31	5.56	4.62	4.25	4.53
Operating Income	-170.58	-100.37	-77.22	-80.55	-59.46	-38.95
Net Income	-248.7	-355.06	-143.88	-82.72	-53.7	-40.97
Earnings Per Share	-0.71	-1.11	-0.75	-0.60	-0.45	-0.33
EPS Growth	-	-	-	-	-	-

Revenue by Segment

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
System Sales	2.85	16.18	-	-	-	-
Quantum Computing as a Service (QCaaS)	6.36	5.52	6.75	4.9	5.62	4.42
Professional Services	3.07	2.72	1.94	3.82	1.48	1.79
Other Product or Services	0.14	0.17	0.14	0.05	0.08	0.07
Revenue (Total)	12.43	24.59	8.83	8.76	7.17	6.28

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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 & Investments	546.22	884.48	177.98	41.31	7.07	9.48
Total Debt	48.11	43.46	38.38	72.65	42.29	39.38
Net Cash (Debt)	498.11	841.02	139.6	-31.34	-35.22	-29.9
Net Cash Growth	-36.09%	502.44%	-	-	-	-
Net Cash Per Share	1.39	2.62	0.73	-0.23	-0.29	-0.24

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Operating Cash Flow	-110.88	-71.98	-42.64	-60.65	-45.23	-34.8
Capital Expenditures	-8.2	-3.86	-2.11	-0.58	-0.42	-1.77
Free Cash Flow	-119.08	-75.84	-44.75	-61.23	-45.65	-36.57
Free Cash Flow Growth	-	-	-	-	-	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Gross Margin	64.19%	82.59%	63.02%	52.77%	59.25%	72.13%
Operating Margin	-1372.88%	-408.22%	-874.85%	-919.68%	-828.91%	-620.29%
Pretax Margin	-763.21%	-1444.10%	-1629.99%	-969.22%	-748.67%	-652.54%
Profit Margin	-534.29%	-1444.10%	-1629.99%	-969.22%	-748.67%	-652.54%
FCF Margin	-958.36%	-308.47%	-506.96%	-699.15%	-636.40%	-582.48%