D-Wave Quantum Inc. (QBTS)
NYSE:QBTS
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Earnings Data
Report Date
Aug 06, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.09Last Year’s EPS
-0.08Same Quarter Last Year
Strong Buy
Based on 12 Analysts Ratings
Earnings Call Summary
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.Company Guidance
Record Bookings Growth
Bookings of $33.4M in Q1 2026, an increase of $31.8M or 1,994% YoY and up 149% from Q4 2025 ($13.4M).
Backlog / Remaining Performance Obligations (RPO) Surge
Aggregate RPO of $42.4M as of March 31, 2026, up $36.0M or 563% YoY and up $29.0M or 216% QoQ. Approximately 54% of RPO expected to be recognized in 12 months and 71% within 2 years.
Strong Liquidity Position After Acquisition
Consolidated cash and marketable securities of $588.4M as of March 31, 2026, up $284.1M or 93% YoY. Company invested $250M cash related to the Quantum Circuits acquisition and states remaining liquidity supports a fully funded path to profitability.
Commercial Traction and Diverse Customer Base
Recognized revenue from over 100 customers in Q1 2026; over 50% of customers were commercial and commercial revenue comprised over 73% of the $2.9M quarterly revenue. Over two dozen commercial customers accounted for ~31% of Q1 bookings; notable $20M system sale to Florida Atlantic University.
Recurring and Services Revenue Growth
QCaaS subscription revenue of $1.8M in Q1 2026, up nearly 15% YoY; professional services revenue of $1.0M, up over 26% YoY.
Strategic Acquisition and Gate-Model Technology Advancements
Acquisition of Quantum Circuits accelerates gate-model roadmap. Company reports dual-rail qubit metrics: ability to identify ~90% of errors as they occur, observed erasure rate ~0.5%, demonstrated >99.9% fidelity on small systems, and claims up to an order-of-magnitude reduction in physical qubits required per logical qubit. Roadmap targets: ~175 physical qubits by end of 2028, ~10 logical qubits by 2030, and 100 logical qubits by end of 2032.
Early Wins in Blockchain and Quantum-AI
Postquant Labs TestNet live with >18,500 sign-ups and >1,600 nodes; D‑Wave's Advantage2 QPU is currently outperforming classical nodes and winning the majority of blocks (benchmarking underway). Shionogi collaboration showed a tenfold increase in desirable molecules in phase two of a drug discovery project versus a classical ML algorithm.
Growing Sales Pipeline and Larger Deal Sizes
Dollar value of sales opportunity pipeline more than doubled since Q4 2025 and average potential deal size more than doubled over the same period, supporting guidance of 2–3 system sales per year (up from prior expectation of 1).
Product and R&D Progress
Published multicolor annealing protocols enabling some gate-model operations on Advantage2; progress on multichip processors and a new scalable I/O architecture with prototype masks/chips ready for testing.
QBTS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
QBTS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 12, 2026 | $24.03 | $22.35 | -6.99% |
Feb 26, 2026 | $19.65 | $20.14 | +2.49% |
Nov 06, 2025 | $31.02 | $28.39 | -8.48% |
Aug 07, 2025 | $17.58 | $17.17 | -2.33% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does D-Wave Quantum Inc. (QBTS) report earnings?
D-Wave Quantum Inc. (QBTS) is schdueled to report earning on Aug 06, 2026, After Close (Confirmed).
What is D-Wave Quantum Inc. (QBTS) earnings time?
D-Wave Quantum Inc. (QBTS) earnings time is at Aug 06, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is QBTS EPS forecast?
QBTS EPS forecast for the fiscal quarter 2026 (Q2) is -0.09.
