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)40.32M
Market Cap
$9.15B
Enterprise Value$8.13B
Total Cash (Recent Filing)$588.39M
Total Debt (Recent Filing)$46.82M
Price to Earnings (P/E)―
Beta2.75
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. Volume31,579,080
30 Day Avg. Volume40,316,865
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 Cap0.89
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
Balance Sheet StrengthExtremely low leverage and a large equity base materially reduce refinancing and solvency risk, giving management time to invest in R&D and commercialization. Strong liquidity supports multi-year technology scaling and cushions execution risk during the path to commercial profitability.
High Gross MarginsSustained high gross margins imply that incremental revenue (cloud access, subscriptions, services) flows to the bottom line more effectively once fixed costs are covered. This structural margin profile supports scalable unit economics as commercial adoption and recurring revenue expand.
Improving Commercial TractionA sharp rise in bookings and backlog signals strengthening demand and a larger, more predictable near‑term revenue base. With over half of RPO expected within 12 months, the company has a clearer path to converting pipeline into recurring QCaaS, services, and system revenue over the next 2–6 months and beyond.
Bears Say
Large Cash BurnSustained negative operating and free cash flow at this scale erodes liquidity over time and requires continued funding or dilution to sustain R&D and commercialization. Even with a strong balance sheet today, ongoing cash burn raises risk if revenue conversion from bookings lags or funding terms weaken.
Revenue VolatilityHighly lumpy system-sales revenue and sharp YoY swings complicate forecasting and delay path to self-funding. Reliance on occasional large system deals makes revenue recognition timing unpredictable, pressuring margins and working capital management across reporting periods.
Gate‑Model Scaling RiskGate‑model commercialization depends on multi‑year scaling, error correction, and manufacturing milestones. These structural execution risks mean meaningful commercial benefits are several years out, leaving current investment and returns mismatched and exposing strategy to technical setbacks or competitive advances.
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 $9.15B.
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 47 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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4
5
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7
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 70%
Sector Average ―
Sector Average ―
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
Very Positive
Last 7 Days ▲ 0.3%
Last 30 Days ▲ 4.9%
Last 30 Days ▲ 4.9%
News Sentiment
Very Bullish
Bullish news 99%
Bearish news 6%
Bearish news 6%
Technicals
SMA
Positive
20 days / 200 days
Momentum
57.16%
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
13.96% Mutual Funds
6.65% Other Institutional Investors
60.09% Public Companies and Individual Investors