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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)31.80M
Market Cap
$7.65B
Enterprise Value$8.13B
Total Cash (Recent Filing)$588.39M
Total Debt (Recent Filing)$46.82M
Price to Earnings (P/E)―
Beta2.80
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. Volume20,952,589
30 Day Avg. Volume31,799,294
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 Cap1.06
Enterprise Value/Revenue653.63
Enterprise Value/Gross Profit986.27
Enterprise Value/Ebitda-21.03
Forecast
1Y Price Target
$38.27Price Target Upside76.45% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering13
EPS Forecast (FY)-0.3
Revenue Forecast (FY)$42.78M
Bulls Say, Bears Say
Bulls Say
High Gross MarginsD-Wave’s very high reported gross margins indicate software/services-like economics for cloud, solver and software offerings. Durable margin structure can support scalable gross-profit as cloud and subscription usage grows, helping absorb R&D and systems costs over a multi-year commercialization path.
Strong Liquidity & Low LeverageA large cash balance and minimal debt materially reduce solvency and refinancing risk, providing runway to fund R&D, integration of Quantum Circuits, and multi-year gate-model development. This balance-sheet strength supports execution of strategic milestones without immediate external financing pressure.
Growing Bookings, Backlog & Commercial TractionSurging bookings and a sizable RPO backlog with a majority expected within 2 years indicate improving enterprise demand and contracted future revenue. Combined with >100 customers and rising QCaaS/services, this strengthens repeatable revenue potential and supports multi-year commercialization despite lumpy system deliveries.
Bears Say
Persistent Cash BurnSustained negative operating and free cash flow means the company is consuming cash to fund operations and growth. Even with strong liquidity today, continued burn limits strategic optionality, increases reliance on existing cash or future financings, and raises dilution or runway risk over the next 2–6 months and beyond.
Revenue Volatility & Lumpy System SalesLarge swings driven by multi-step system sales and timing make top-line growth unpredictable. Lumpy revenue recognition complicates forecasting, hampers steady operating leverage development, and can mask underlying demand trends, making near-to-mid-term revenue visibility and margin scaling uncertain.
High Operating Costs And Deep LossesRapidly rising opex from acquisition, R&D and S&M has widened losses and suppressed returns. With TTM returns deeply negative, the business must materially increase revenue or curb costs to reach profitability; otherwise persistent operating deficits will erode cash and shareholder value over the multi-year scaling period.
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 $7.65B.
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 26 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
Outperform
1
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5
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8
9
10
Analyst Consensus
Strong Buy
Average Price Target:
$38.27 (76.45% Upside)
$38.27 (76.45% Upside)
Blogger Sentiment
Bullish
QBTS Sentiment 72%
Sector Average 65%
Sector Average 65%
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
Positive
Last 7 Days ▲ 1.0%
Last 30 Days ▲ 2.7%
Last 30 Days ▲ 2.7%
News Sentiment
Very Bullish
Bullish news 100%
Bearish news 0%
Bearish news 0%
Technicals
SMA
Negative
20 days / 200 days
Momentum
29.10%
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.
Operating globally, D-Wave Quantum Inc. specializes in developing and supplying quantum computing systems, software, and related services. Their offerings include Advantage, a pioneering fifth-generation quantum computer, and Launch, an onboarding service designed for quantum computing adoption. The company also provides Ocean, a comprehensive suite of open-source programming tools. Furthermore, Leap is a cloud-based service that enables real-time interaction with a live quantum computer. This service further provides access to Advantage, along with hybrid problem-solving tools, the Ocean Software Development Kit, live code samples, demonstrations, learning resources, and a vibrant developer community. Additionally, D-Wave provides a dedicated "D-Wave Launch" professional service, guiding enterprises from initial problem identification through to production deployment of quantum applications. Their quantum solutions are leveraged across various domains such as artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. They serve industries including manufacturing, logistics, financial services, and life sciences, among others. D-Wave Quantum Inc. is headquartered 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
$38.27
▲(76.45% Upside)
Technical Analysis
Ownership Overview
1.66% Insiders
13.65% Mutual Funds
0.92% Other Institutional Investors
65.28% Public Companies and Individual Investors