D-Wave Quantum: Lagging Gate-Model Tech And Minuscule Revenues Justify A Sell Rating [Seeking Alpha]
D-Wave Quantum Inc. Common Shares (QBTS)
Company Research
Source: Seeking Alpha
QBTS's pivot to gate-model quantum via the Quantum Circuits acquisition is positive, but the acquired technology is years behind better-funded competitors. Despite $30 million in bookings for 2026, QBTS's current systems generate minimal revenue, with 2026 estimates at $44 million against a $6.5 billion market cap. Key risks to the bearish thesis include unexpected breakthroughs in error correction or new contracts, but near-term technological leadership appears unlikely. Just_Super/iStock via Getty Images This is my initial coverage on D-Wave Quantum Inc. ( QBTS ). In this article, I will analyze their core technology, the recent pivot via the Quantum Circuits acquisition, and finally, the current valuation. Despite the massive cash position, serving as a This article was written by Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Short position through short-selling of the st
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QBTS
News
- D-Wave to Premiere “Quantum Matters” PodcastBusiness Wire
- D-Wave Quantum Revenue Growth Highlights Rising Demand For Optimization Services [Yahoo! Finance]Yahoo! Finance
- The 3 Best Quantum Computing Stocks to Buy Right Now [Yahoo! Finance]Yahoo! Finance
- D-Wave Quantum Plunges 49% in 3 Months: Time to Sell as Losses Widen? [Yahoo! Finance]Yahoo! Finance
- Here's How D-Wave (QBTS)'s Shares Behaved After Jim Cramer Said He Was “Wary” In January 2025 [Yahoo! Finance]Yahoo! Finance
QBTS
Earnings
- 2/26/26 - Miss
QBTS
Sec Filings
- 3/17/26 - Form 4
- 3/17/26 - Form 4
- 3/17/26 - Form 4
- QBTS's page on the SEC website