D-Wave Quantum (QBTS) is scheduled to announce its second-quarter earnings on August 7. The stock has gained 117% year-to-date, driven by strong Q1 financials, a major product launch (Advantage2), and growing traction in quantum-augmented AI. Wall Street analysts expect the company to report a Q2 loss of $0.05 per share, versus a loss of $0.08 per share in the year-ago quarter.
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Meanwhile, revenues are expected to increase by 16% from the year-ago quarter to $2.54 million, according to data from the TipRanks Forecast page.
During the Q2 earnings call, investors will be watching for signs of Advantage2 demand, new business deals, and steady income from repeat customers. While Q1 results were boosted by a large one-time system sale, the focus now is whether D-Wave can keep up the pace through real-world use and early customer trials.
Analysts’ Views Ahead of Q2 Earnings
Ahead of D-Wave’s Q2 print, Stifel Nicolaus Top analyst, Ruben Roy, initiated coverage on QBTS with a Buy rating and a $26 price target, suggesting over 42% upside from current levels. Roy, a top-rated five-star analyst, believes QBTS is well-positioned to lead in the quantum computing space. He highlighted a key sale earlier this year to Germany’s Julich Supercomputing Centre as proof of rising global interest in D-Wave’s technology, especially from major research groups.
Likewise, Benchmark analyst David Williams reaffirmed his Buy rating on QBTS, with a $20 price target. Williams said D-Wave’s annealing-based quantum systems are starting to show real-world value across sectors like logistics, drug development, and AI training. He also pointed to D-Wave’s solid balance sheet, noting the company has about $800 million in cash, nearly three times what it needs to fund its current roadmap.
Options Traders Anticipate a Large Move
Using TipRanks’ Options tool, we can see what options traders are expecting from the stock immediately after its earnings report. The expected earnings move is determined by calculating the at-the-money straddle of the options closest to expiration after the earnings announcement. If this sounds complicated, don’t worry; the Options tool does this for you.
Indeed, it currently says that options traders are expecting a 14.92% move in either direction.
Is QBTS Stock a Good Buy?
Turning to Wall Street, D-Wave Quantum stock has a Strong Buy consensus rating based on ten Buys assigned in the last three months. At $21.00, the average QBTS stock price target implies a 14.75% upside potential.
See more QBTS analyst ratings.