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D-Wave Quantum(NYSE) QBTS

Market CapN/AMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.
Since IPO (2020)+101%
5 Year+110%
1 Year+38%
1 Month+18%
Premium Feature
Moneyball Superscore
66/100
N/A
D-Wave Quantum last closing stock price
MetricPriceDate
Last closeUSD 20.392026-08-21
D-Wave Quantum stock price return by period
PeriodPrice returnPrice at period startPeriod start date
1 week-3.68%USD 21.172026-08-14
1 month+17.52%USD 17.352026-07-22
3 month-30.65%USD 29.402026-05-22
Year to date-22.03%USD 26.152025-12-31
1 year+37.68%USD 14.812025-08-21
3 year+1,531.2%USD 1.252023-08-22
5 year+110.21%USD 9.702021-08-20
Since inception+100.89%USD 10.152020-12-11

D-Wave Quantum Financials at a Glance

Market Cap

N/AMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Revenue (TTM)

$12.43M

Net Income (TTM)

-$248.70M

EPS (TTM)

N/A

P/E Ratio

N/A

Dividend

N/A

Beta (Volatility)

N/A

Price

N/A

Volume

N/A

Open

N/A

Previous Close

N/A

Daily Range

N/A

52-Week Range

N/A

Estimated Earnings Date

Aug 6, 2026

QBTS News

SellAlert-Blue.png

What Does a D-Wave Quantum Insider's Sale of 23,850 Shares Mean for Investors?

Robert IzquierdoAug 23, 2026
Neon QUANTUM COMPUTING sign floats in a sea of qubits.

Why Did Rigetti Quantum Stock Pop Today?

Rich SmithAug 21, 2026
1177 - D-Wave

D-Wave Could Unlock Massive Enterprise Demand but the Valuation Risk Is Real

Rick OrfordAug 17, 2026
scientist-quantum-computer-lab-getty

D-Wave's Revenue Fell 44% in a Year. Its Market Value Rose 38%.

Daniel SparksAug 11, 2026
QBTS

Is D-Wave Quantum a Buy? Here's What the Data Says.

Chris NeigerAug 11, 2026
QBTS

Why D-Wave Quantum Stock Just Fell

Johnny RiceAug 6, 2026
Quantum_computer

Why D-Wave Stock Fell 25% in July

Chris NeigerAug 5, 2026
Quantum particles trapped in an electromagnetic field between two golden discs.

Why D-Wave Quantum Stock Popped Today

Rich SmithAug 3, 2026
Page 1

QBTS: Motley Fool Moneyball Superscore

66

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About D-Wave Quantum

D-Wave Quantum Inc. makes computers that solve very hard problems. Companies use them to find the best ways to work. People use these systems online or at their own offices.

What Does D-Wave Sell?

  • Cloud Computing: Subscription access to computers through the Leap platform, providing quantum computing as a service.
  • Professional Services: Expert help for companies through the Launch program to identify and build quantum applications.
  • Quantum Systems: Direct sales of physical superconducting computers like the Advantage2 for on-site use.
  • Programming Tools: Open-source software called Ocean that helps developers write code for quantum hardware.

Recent Strategic Moves

  • Acquired Quantum Circuits, Inc. on Jan. 20, 2026, for $250 million in cash and 10.4 million common shares.
  • Transferred the listing and trading of its common shares to Nasdaq in July 2026.
  • Planned to move its corporate headquarters and open a new research facility in Florida by late 2026.
  • Released Advantage2, the sixth-generation annealing quantum computing system designed for faster response times.

Why D-Wave Stands Out

D-Wave is a commercial supplier that offers both annealing, which solves optimization problems, and gate-model quantum computing. Its Leap cloud platform provides customers with real-time access to quantum hardware and maintains 99.9% uptime.

Financial Performance

  • Revenue was $5.9 million for the six months ended June 30, 2026, down 67% year over year.
  • Research and development expenses reached $54.0 million for the six months ended June 30, 2026, up 135% year over year.
  • Net loss was $66.3 million for the first half of 2026, down 62% year over year.
  • Net cash used in operating activities totaled $73.5 million for the six-month period ended June 30, 2026.

Bottom Line

D-Wave is transitioning from a research entity to a commercial provider of cloud-based quantum services. The company continues to invest in next-generation hardware while consolidating its operations and technical capabilities through acquisitions.

AI Generated • Aug 7, 2026

Industry

Software

Sector

Information Technology

Employees

388

CEO

Alan E. Baratz, PhD

Website

www.dwavesys.com

Headquarters

Palo Alto, CA 94303, US

QBTS Financials

Key Financial Metrics (TTM)

Gross Margin

64.19%

Operating Margin

-1372.88%

Net Income Margin

-2001.59%

Return on Equity

-26.67%

Return on Capital

-11.21%

Return on Assets

-21.47%

Earnings Yield

N/A

Dividend Yield

0.00%

Payout Ratio

0.00%

Stock Overview

Market Cap

N/AMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Shares Outstanding

N/A

Volume

N/A

Avg. Volume

N/A

Financials (TTM)

Gross Profit

$7.98M

Operating Income

-$170.58M

EBITDA

-$259.31M

Operating Cash Flow

-$110.88M

Capital Expenditure

-$8.20M

Free Cash Flow

-$119.08M

Cash & ST Invst.

$546.22M

Total Debt

$13.08M

D-Wave Quantum Performance Analysis

D-Wave Quantum annual revenue and year-over-year revenue growth by fiscal year
Fiscal yearPeriod endRevenueYoY growth
20222022-12-31USD 7,173,00014.2%
20232023-12-31USD 8,758,00022.1%
20242024-12-31USD 8,827,0000.8%
20252025-12-31USD 24,587,000178.5%
D-Wave Quantum sequential (quarter-over-quarter) revenue growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q32025-09-3020.8%
Q42025-12-31-26.4%
Q12026-03-313.9%
Q22026-06-307.6%
D-Wave Quantum annual diluted earnings per share and year-over-year EPS growth by fiscal year
Fiscal yearPeriod endDiluted EPSYoY growth
20222022-12-31USD -0.4537.3%
20232023-12-31USD -0.6033.6%
20242024-12-31USD -0.7524.9%
20252025-12-31USD -1.1147.6%
D-Wave Quantum sequential (quarter-over-quarter) diluted earnings per share growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q32025-09-3028.1%
Q42025-12-3170.7%
Q12026-03-3158.3%
Q22026-06-30-160.0%

Revenue Growth Rate

Annual and quarterly growth comparison

Earnings Per Share Growth Rate

Annual and quarterly EPS growth comparison

Quarterly Performance

Name
Q2 2026YOY CHG

Revenue

$3.08M

-0.6%

Gross Profit

$1.70M

-13.8%

Gross Margin

55.40%

N/A

Market Cap

N/AMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

N/A

Market Cap/Employee

N/A

N/A

Employees

385

N/A

Net Income

-$48.03M

+71.3%

EBITDA

-$39.23M

+76.5%

Quarterly Fundamentals

Name
Q2 2026YOY CHG

Total Cash

$546.22M

-33.3%

Total Debt

$13.08M

-67.3%

Accounts Receivable

$2.02M

-17.2%

Inventory

$3.49M

+42.5%

Long Term Debt

$11.83M

-69.2%

Short Term Debt

$1.25M

-21.7%

Return on Assets

-21.47%

N/A

Return on Invested Capital

-15.08%

N/A

Free Cash Flow

-$32.94M

-105.4%

Operating Cash Flow

-$28.50M

-86.5%

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Questions About QBTS

What is the current price of D-Wave Quantum?

D-Wave Quantum is trading at N/A per share.

What is the 52-week range for D-Wave Quantum?

Over the past 52 weeks, D-Wave Quantum has traded between N/A and N/A.

How much debt does D-Wave Quantum have?

As of the most recent reporting period, D-Wave Quantum reported total debt of $48.11M.

How much cash does D-Wave Quantum have on hand?

D-Wave Quantum reported $296.64M in cash and cash equivalents in its most recent financial results.

What is D-Wave Quantum’s dividend yield?

D-Wave Quantum does not currently have a dividend yield.

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