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D-Wave Quantum
(NYSE:QBTS)
D-Wave Quantum (QBTS) vs. S&P 500 (SPY)
D-Wave Quantum Business Overview & Revenue Model
D-Wave Quantum Financial Statement Overview
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 8.83M | 8.76M | 7.17M | 6.28M | 5.16M | Gross Profit |
| 5.56M | 4.62M | 4.25M | 4.53M | 4.25M | EBIT |
| -77.22M | -80.55M | -59.46M | -31.78M | -19.44M | EBITDA |
| -77.22M | -80.83M | -49.03M | -34.36M | -14.06M | Net Income Common Stockholders |
| -143.88M | -82.72M | -38.97M | -34.07M | -18.25M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 177.98M | 41.31M | 7.07M | 9.48M | 21.34M | Total Assets |
| 199.85M | 59.36M | 26.95M | 32.61M | 47.46M | Total Debt |
| 8.25M | 72.65M | 18.99M | 21.17M | 4.66M | Net Debt |
| -169.73M | 31.34M | 11.93M | 11.69M | -16.68M | Total Liabilities |
| 137.21M | 83.84M | 33.12M | 29.59M | 14.73M | Stockholders Equity |
| 62.65M | -24.48M | -6.17M | 3.02M | 32.73M |
| Cash Flow | Free Cash Flow | |||
| -44.75M | -61.28M | -45.72M | -36.80M | -30.08M | Operating Cash Flow |
| -42.64M | -60.65M | -45.23M | -34.80M | -29.29M | Investing Cash Flow |
| -3.14M | -630.00K | -498.00K | -2.00M | -789.00K | Financing Cash Flow |
| 182.45M | 95.64M | 43.27M | 24.91M | 43.14M |
D-Wave Quantum Technical Analysis
D-Wave Quantum Risk Analysis
D-Wave Quantum Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $10.94B | 10.58 | -7.08% | 2.98% | 7.52% | -12.04% | |
50 Neutral | $7.53B | ― | -76.34% | ― | 95.41% | -97.85% | |
50 Neutral | $3.05B | ― | -170.20% | ― | -10.15% | -67.68% | |
50 Neutral | $1.10B | ― | -77.89% | ― | 4.19% | -65.44% | |
47 Neutral | $2.30B | ― | -753.98% | ― | 0.79% | -10.85% |
D-Wave Quantum Earnings Call Summary
D-Wave Quantum Corporate Events
On April 23, 2025, D-Wave Quantum Inc. and Davidson Technologies announced the completion of the physical assembly of a D-Wave Advantage2 annealing quantum system at Davidson’s headquarters in Huntsville, Alabama. This milestone marks a significant step in their partnership, positioning Alabama as a key player in the U.S. quantum infrastructure landscape. The Advantage2 system, the first on-premises annealing quantum computer in the state, aims to develop quantum optimization applications for national defense and other mission-critical challenges. The installation is part of a multi-year collaboration, with Davidson investing in research and talent development to deploy hybrid quantum-classical solutions. The system is expected to enhance Alabama’s leadership in advanced technology and national defense innovation.
Spark’s Take on QBTS Stock
According to Spark, TipRanks’ AI Analyst, QBTS is a Neutral.
D-Wave Quantum’s overall score reflects significant financial challenges, with negative profitability and cash flow issues being major concerns. Despite strong technical achievements and promising future business prospects, these are overshadowed by current financial weaknesses. The technical analysis suggests potential support and a possible rebound, but the stock remains risky due to valuation concerns and profitability hurdles.
To see Spark’s full report on QBTS stock, click here.
On March 31, 2025, D-Wave Quantum Inc. and Japan Tobacco Inc.’s pharmaceutical division completed a joint proof-of-concept project using quantum computing and AI in drug discovery. This collaboration enhanced large language models with a quantum-hybrid workflow, enabling the production of novel molecular structures. The project demonstrated the potential benefits of quantum computing in generative AI for drug discovery by providing higher quality, lower energy samples. Additionally, on the same date, D-Wave and Ford Otosan announced the deployment of a hybrid-quantum application in vehicle manufacturing, improving production sequencing for the Ford Transit line. This application showcased quantum computing’s real-world impact in automotive manufacturing, highlighting its ability to optimize processes beyond classical computing capabilities.
On March 31, 2025, D-Wave Quantum Inc. announced initiatives to boost the adoption of its quantum optimization offerings at the Qubits 2025 user conference. The company introduced updates to its hybrid quantum solvers, including support for continuous variables with linear interactions, expanding the range of real-world problems they can address. This development aims to meet the growing demand from end users, ISVs, SIs, and resellers. D-Wave is also broadening its quantum optimization use cases, enhancing applications in workforce scheduling, production scheduling, logistics routing, offer allocation, portfolio optimization, and maintenance repair operations. The announcement highlights D-Wave’s role in addressing complex optimization challenges and its partnerships with organizations like NTT DOCOMO and Ford Otosan, showcasing the practical impact of quantum computing in various industries.
On March 20, 2025, D-Wave Quantum Inc. announced the publication of a research paper introducing a novel blockchain architecture that leverages quantum computing techniques from its quantum supremacy demonstration. The architecture, featuring a ‘proof of quantum’ algorithm, aims to enhance blockchain security and efficiency by using quantum computation to generate and validate blockchain hashes. This development could significantly reduce the electricity required for blockchain operations, potentially lowering costs by up to a factor of 1,000. D-Wave successfully demonstrated this architecture across four cloud-based annealing quantum computers in Canada and the U.S., marking the first-ever instance of distributed quantum computing for blockchain. The company plans to continue developing this capability and work with partners to bring products based on this new architecture to market.
On February 18, 2025, D-Wave Quantum Inc. and Staque announced the creation of a hybrid-quantum application designed to optimize the movements of autonomous agricultural vehicles. This application, a pioneering real-world product utilizing quantum computing, aims to enhance efficiency in agricultural operations by offering real-time optimization and decision-making capabilities, thus potentially transforming farming practices by increasing crop production and reducing costs.
On February 13, 2025, D-Wave Quantum Inc. announced that the Jülich Supercomputing Centre (JSC) at Forschungszentrum Jülich has purchased a D-Wave Advantage annealing quantum computing system, marking a significant milestone as the first high-performance computing center globally to acquire such a system. This acquisition enables JSC to integrate the quantum computer with Europe’s first exascale supercomputer, JUPITER, potentially advancing fields such as AI and quantum optimization. D-Wave also announced a new program allowing research centers, academic institutions, and governments to purchase on-premises quantum computing systems, aiming to drive innovation and address dissatisfaction with competitor systems. This initiative is expected to expand D-Wave’s influence in advanced research and practical problem-solving applications.
On February 5, 2025, D-Wave Quantum Inc. announced its Qubits 2025 quantum computing user conference scheduled for March 31 and April 1 in Scottsdale, Arizona. The event, themed ‘Quantum Realized,’ will feature presentations from executives, customers, and industry leaders, showcasing the practical applications of D-Wave’s quantum technology. Attendees will gain insights into D-Wave’s latest product and technical updates, including quantum optimization, hardware development, and the integration of quantum with AI. The conference will highlight D-Wave’s positioning as a key player in the quantum computing industry, emphasizing its role in advancing quantum technologies to solve complex problems across various sectors.
On February 3, 2025, D-Wave Quantum Inc. launched its new brand campaign, ‘Quantum Realized,’ aimed at showcasing the current benefits of quantum computing. This campaign began with an open letter from CEO Dr. Alan Baratz in The Wall Street Journal, highlighting D-Wave as the only company meeting specific benchmarks for quantum computing’s commercial viability. The initiative marks a significant moment for D-Wave as it underscores its position in the quantum computing industry and aims to enhance public awareness through various channels, including advertising and events.