D-Wave Quantum Inc. (QBTS)
NYSE:QBTS
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QBTS Stock Chart & Stats
$21.69
-$4.27(-44.71%)
At close: 4:00 PM EST
$21.69
-$4.27(-44.71%)
Day’s Range― - ―
52-Week Range$12.75 - $46.75
Previous CloseN/A
Volume94.73M
Average Volume (3M)40.69M
Market Cap
$10.17B
Enterprise Value$10.54B
Total Cash (Recent Filing)$588.39M
Total Debt (Recent Filing)$46.82M
Price to Earnings (P/E)―
Beta2.58
Next Earnings
Aug 06, 2026EPS Estimate
-0.09Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)-1.15
Shares Outstanding366,737,600
10 Day Avg. Volume50,791,777
30 Day Avg. Volume40,685,853
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 Cap1.04
Enterprise Value/Revenue846.95
Enterprise Value/Gross Profit1.28K
Enterprise Value/Ebitda-26.41
Forecast
1Y Price Target
$36.50Price Target Upside68.28% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)-0.34
Revenue Forecast (FY)$42.78M
Bulls Say, Bears Say
Bulls Say
Balance Sheet StrengthVery low debt and a >$500M cash plus marketable securities position after the Quantum Circuits acquisition materially reduce refinancing and solvency risk. This durable liquidity buffer supports multi-year R&D, capital-intensive system builds, and gives management flexibility to execute scaling without immediate fundraising.
Improving Bookings & BacklogA large, growing backlog with a majority expected to convert within 12–24 months provides durable revenue visibility versus purely spot sales. Sustained bookings growth reflects strengthening demand and enterprise traction, underpinning multi-period planning and potential scaling of recurring cloud and services revenue streams.
Acquisition & Gate-model RoadmapThe Quantum Circuits deal and reported dual-rail advances materially strengthen technical IP and diversify the company from annealing-only systems. Progress toward logical-qubit milestones and demonstrated error/erasure metrics bolster the firm's long-term ability to compete in gate-model markets and win larger, higher-value application customers.
Bears Say
Ongoing Cash BurnSustained negative operating and free cash flow at nearly triple-digit millions per year creates a structural funding need. Even with current liquidity, persistent burn elevates dilution or financing risk over 2–3 years if commercial revenue and margin expansion do not accelerate to materially reduce reliance on external capital.
Very Weak ProfitabilityExtremely negative margins and return metrics indicate the business has not yet converted its asset base or revenues into sustainable profits. Without structural improvement to revenue scale, mix, or operating leverage, the firm faces a prolonged path to positive unit economics and investor returns.
Revenue Volatility & Lumpy RecognitionReliance on multi-step, large system transactions causes quarter-to-quarter swings and concentration risk from single large deals. This structural lumpiness complicates forecasting, cash conversion timing, and margin stability, making it harder to demonstrate consistent commercial scalability to enterprise buyers and investors.
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 $10.17B.
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 68 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 366,737,600 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:
$36.50 (68.28% Upside)
$36.50 (68.28% Upside)
Blogger Sentiment
Bullish
QBTS Sentiment 70%
Sector Average ―
Sector Average ―
Hedge Fund Trend
Increased
By 131.1K Shares
Last Quarter.
Last Quarter.
Insider Transactions
Sold Shares
Worth $9.1M over
the Last 3 Months
the Last 3 Months
Crowd Wisdom
Very Positive
Last 7 Days ▲ 2.3%
Last 30 Days ▲ 4.6%
Last 30 Days ▲ 4.6%
News Sentiment
Bullish
Bullish news 65%
Bearish news 35%
Bearish news 35%
Technicals
SMA
Negative
20 days / 200 days
Momentum
68.03%
12-Months-Change
Fundamentals
Return on Equity
-44.05%
Trailing 12-Months
Asset Growth
268.49%
Trailing 12-Months
Company Description
D-Wave Quantum Inc.
D-Wave Quantum Inc. develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Launch, a quantum computing onboarding service; Ocean a full suite of open-source programming tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community. It also provides D-Wave Launch, a quantum professional service that guides enterprises from problem discovery through in-production application deployment. The company's quantum solutions are used in artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. It serves manufacturing and logistics, financial services, life sciences, and other industries. D-Wave Quantum Inc. is based in Burnaby, Canada.
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
$36.50
▲(68.28% Upside)
Technical Analysis
Ownership Overview
1.70% Insiders
14.00% Mutual Funds
6.66% Other Institutional Investors
60.68% Public Companies and Individual Investors