D-Wave Quantum: Proof Of Commercialization With Rare Optionality [Seeking Alpha]
D-Wave Quantum Inc. Common Shares (QBTS)
Company Research
Source: Seeking Alpha
QBTS reported FY2025 revenue of $24.6M (+179% Y/Y), strong gross margins (82.6%), and a robust bookings pipeline, despite lumpy, front-loaded results. The $550M Quantum Circuits acquisition accelerates QBTS's addressable market, combining annealing and gate-model quantum computing for broader commercial and defense applications. Balance sheet strength ($635M cash post-acquisition) is offset by dilution risk; positive catalysts include FY26E revenue conversion, initial gate-model delivery, and further government contracts. quantic69/iStock via Getty Images D-Wave Quantum's ( QBTS ) stock performance has been very polarizing, with a 211% return in 2025 before falling 28% YTD. However, we feel that D-Wave's gains in commercial traction are uniquely differentiated from other quantum computing peers, as its recently acquired This article was written by Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plan
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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