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QBTS Stock Chart & Stats
$16.21
-$0.89(-5.20%)
At close: 4:00 PM EDT
$16.21
-$0.89(-5.20%)
Day’s Range― - ―
52-Week Range$12.75 - $46.75
Previous Close$16.25
Volume13.57M
Average Volume (3M)21.72M
Market Cap
$6.66B
Enterprise Value$4.76K
Total Cash (Recent Filing)$588.39M
Total Debt (Recent Filing)$46.82M
Price to Earnings (P/E)―
Beta2.76
Next Earnings
Aug 06, 2026EPS Estimate
-0.09Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)-1.15
Shares Outstanding367,269,070
10 Day Avg. Volume15,658,345
30 Day Avg. Volume21,722,424
Financial Highlights & Ratios
PEG Ratio-0.49
Price to Book (P/B)9.86
Price to Sales (P/S)341.62
P/FCF Ratio-110.75
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$37.58Price Target Upside131.85% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering14
EPS Forecast (FY)-0.3
Revenue Forecast (FY)$42.80M
Bulls Say, Bears Say
Bulls Say
Balance Sheet StrengthExtremely low leverage and a materially improved equity position give D‑Wave multi-quarter solvency and flexibility to fund R&D and commercialization. A strong balance sheet reduces near-term refinancing risk and supports multi-year investments in gate-model scaling and commercialization efforts.
Record Bookings And BacklogA surge in bookings and a materially larger RPO/backlog provide durable revenue visibility versus prior quarters. With over half of RPO expected within 12 months and 71% within two years, the company has a clearer path to convert pipeline into recurring QCaaS, services and system revenues over the medium term.
Strategic Tech Moves And Government SupportThe Quantum Circuits acquisition accelerates D‑Wave's gate-model roadmap, while prospective CHIPS Act funding and NSF/defense grants validate technology and supply‑chain support. These structural moves strengthen competitive positioning in superconducting gate systems and broaden addressable markets over years.
Bears Say
Persistent Cash BurnSustained negative operating and free cash flow at nearly $100M annualized implies continued reliance on existing liquidity or external funding. Even with improved FCF tracking to net loss, persistent cash burn constrains runway for scaling commercial operations and increases sensitivity to slower-than-expected bookings conversion.
Revenue Volatility And Lumpy System SalesRevenue is highly lumpy and dependent on occasional large system sales that can create sharp YoY swings, making quarter-to-quarter cash conversion and forecasting unreliable. This structural revenue concentration delays steady recurring revenue growth and complicates scaling sales, operations and margins sustainably.
High And Rising Operating ExpensesMaterial increases in operating expenses driven by acquisition costs, hiring in sales/R&D, and noncash charges imply a heavier cost base ahead. If revenue growth lags, higher fixed and semi-fixed Opex will sustain large losses and delay achieving scalable margins despite long‑term commercial and tech progress.
D-Wave Quantum News
QBTS FAQ
What was D-Wave Quantum Inc.’s price range in the past 12 months?
D-Wave Quantum Inc. lowest stock price was $12.75 and its highest was $46.75 in the past 12 months.
What is D-Wave Quantum Inc.’s market cap?
D-Wave Quantum Inc.’s market cap is $6.66B.
When is D-Wave Quantum Inc.’s upcoming earnings report date?
D-Wave Quantum Inc.’s upcoming earnings report date is Aug 06, 2026 which is in 5 days.
How were D-Wave Quantum Inc.’s earnings last quarter?
D-Wave Quantum Inc. released its earnings results on May 12, 2026. The company reported -$0.028 earnings per share for the quarter, beating the consensus estimate of -$0.077 by $0.049.
Is D-Wave Quantum Inc. overvalued?
According to Wall Street analysts D-Wave Quantum Inc.’s price is currently Undervalued.
Does D-Wave Quantum Inc. pay dividends?
D-Wave Quantum Inc. does not currently pay dividends.
What is D-Wave Quantum Inc.’s EPS estimate?
D-Wave Quantum Inc.’s EPS estimate is -0.09.
How many shares outstanding does D-Wave Quantum Inc. have?
D-Wave Quantum Inc. has 367,269,070 shares outstanding.
What happened to D-Wave Quantum Inc.’s price movement after its last earnings report?
D-Wave Quantum Inc. reported an EPS of -$0.028 in its last earnings report, beating expectations of -$0.077. Following the earnings report the stock price went down -6.991%.
Which hedge fund is a major shareholder of D-Wave Quantum Inc.?
Currently, no hedge funds are holding shares in QBTS
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology
D-Wave Quantum Stock Smart Score
Neutral
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Analyst Consensus
Strong Buy
Average Price Target:
$37.58 (131.85% Upside)
$37.58 (131.85% Upside)
Blogger Sentiment
Bullish
QBTS Sentiment 76%
Sector Average 62%
Sector Average 62%
Hedge Fund Trend
Increased
By 131.1K Shares
Last Quarter.
Last Quarter.
Insider Transactions
Sold Shares
Worth $17.0M over
the Last 3 Months
the Last 3 Months
Crowd Wisdom
Neutral
Last 7 Days ▼ 0.1%
Last 30 Days ▲ 1.0%
Last 30 Days ▲ 1.0%
News Sentiment
Very Bullish
Bullish news 92%
Bearish news 8%
Bearish news 8%
Technicals
SMA
Negative
20 days / 200 days
Momentum
3.39%
12-Months-Change
Fundamentals
Return on Equity
―
Trailing 12-Months
Asset Growth
268.49%
Trailing 12-Months
Company Description
D-Wave Quantum Inc.
D-Wave Quantum Inc. (QBTS) is a quantum computing company focused on developing and commercializing quantum systems and related software and services. The company is best known for quantum annealing computers and provides access to its quantum resources through cloud-based offerings, along with tools and professional services intended to help customers build and run quantum and hybrid quantum-classical optimization applications.
QBTS Company Deck
QBTS Earnings Call
Q1 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call presents strong commercial momentum indicators (record bookings, a sharply increased RPO/backlog, expanding pipeline, and a robust cash position after the Quantum Circuits acquisition) alongside meaningful technical progress in gate-model dual-rail qubits and early application wins in blockchain and quantum-AI. However, near-term GAAP revenue fell sharply YoY (driven by timing of prior system sale), operating expenses and losses increased materially (including acquisition-related and R&D investments), and system sales revenue recognition remains lumpy. Overall, the narrative is that D‑Wave is investing aggressively to scale technology and commercial footprint with improving sales pipeline and liquidity but will absorb near-term higher expenses and uneven revenue while longer-term gate-model benefits remain multi-year.View all QBTS earnings summariesQBTS Stock 12 Month Forecast
Average Price Target
$37.58
▲(131.85% Upside)
Technical Analysis
Ownership Overview
1.66% Insiders
13.65% Mutual Funds
1.64% Other Institutional Investors
64.45% Public Companies and Individual Investors