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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 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	13.2	24.59	8.83	8.76	7.17	6.28
Revenue Growth	-45.33%	178.54%	0.79%	22.10%	14.24%	21.69%
Cost of Revenue	5.51	4.28	3.26	4.14	2.92	1.75
Gross Profit	7.69	20.31	5.56	4.62	4.25	4.53
Selling, General & Admin	104.77	69.94	47.49	47.29	31.61	18.34
Research & Development	99.25	50.73	35.3	37.88	32.1	25.13
Operating Expenses	204.02	120.67	82.79	85.17	63.71	43.48
Operating Income	-196.33	-100.37	-77.22	-80.55	-59.46	-38.95
Interest Expense	-4.24	-4.01	-3.9	-2.16	-2.34	-1.73
Interest & Investment Income	23.8	24.12	1.74	-	-	-
Currency Exchange Gain (Loss)	-	-	-	-	-	0.6
Other Non Operating Income (Expenses)	-10.4	-274.64	-65.35	-0.65	8.09	7.37
EBT Excluding Unusual Items	-187.17	-354.9	-144.73	-83.36	-53.7	-32.71
Gain (Loss) on Sale of Investments	1.75	-0.16	1.5	-	-	1.16
Other Unusual Items	-	-	-0.65	0.64	-	-
Pretax Income	-185.42	-355.06	-143.88	-82.72	-53.7	-31.55
Net Income	-156.91	-355.06	-143.88	-82.72	-53.7	-31.55
Net Income to Common	-156.91	-355.06	-143.88	-82.72	-53.7	-31.55
Net Income Growth	-	-	-	-	-	-
Shares Outstanding (Basic)	366	321	192	138	120	3
Shares Outstanding (Diluted)	366	321	192	138	120	3
Shares Change	25.84%	67.18%	39.23%	15.33%	3678.01%	-
EPS (Basic)	-0.43	-1.11	-0.75	-0.60	-0.45	-9.96
EPS (Diluted)	-0.43	-1.11	-0.75	-0.60	-0.45	-9.96
EPS Growth	-	-	-	-	-	-

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 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
Free Cash Flow	-142.01	-75.84	-44.75	-61.23	-45.65	-36.57
Free Cash Flow Per Share	-0.39	-0.24	-0.23	-0.44	-0.38	-11.55
Gross Margin	58.28%	82.59%	63.02%	52.78%	59.25%	72.13%
Operating Margin	-1487.43%	-408.22%	-874.85%	-919.68%	-828.91%	-620.29%
Profit Margin	-1188.79%	-1444.11%	-1629.99%	-944.45%	-748.67%	-502.39%
Free Cash Flow Margin	-1075.94%	-308.47%	-506.96%	-699.15%	-636.40%	-582.48%
EBITDA	-182.36	-98.81	-76.11	-79.49	-58.04	-37.41
D&A For EBITDA	13.96	1.56	1.11	1.05	1.42	1.53
EBIT	-196.33	-100.37	-77.22	-80.55	-59.46	-38.95

SEC Filings: 10-K · 10-Q