D-Wave Quantum Inc.
D-Wave Quantum Inc. (NYSE: QBTS) develops quantum computing systems, software and services for businesses, researchers, academic institutions and government customers. Its offerings include annealing quantum computers for optimization problems, gate-model systems under development, quantum-classical hybrid solvers,… From the company’s description.
In fiscal 2025, D-Wave Quantum Inc. reported revenue of $24.59M, up 178.5% from fiscal 2024, and a net loss of $355.06M. Its operating margin was −408.2%, and operations used $71.98M in cash. Over the twelve months to Jun 30, 2026, revenue was $12.43M.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What D-Wave Quantum Inc. does
In the company’s own words
D-Wave Quantum Inc. (NYSE: QBTS) develops quantum computing systems, software and services for businesses, researchers, academic institutions and government customers. Its offerings include annealing quantum computers for optimization problems, gate-model systems under development, quantum-classical hybrid solvers, cloud access through its Leap service, professional services and on-premises system sales. The company’s products support applications such as workforce and production scheduling, vehicle routing, logistics, portfolio optimization and drug discovery. Leap, launched in 2018, provides cloud access to D-Wave systems and solvers in 42 countries; its Ocean software development kit offers open-source tools for building quantum hybrid applications. D-Wave’s Advantage2 annealing system launched in 2025, and its Stride hybrid solver supports problems with up to two million variables and constraints. In January 2026, D-Wave completed its acquisition of Quantum Circuits, adding superconducting gate-model technology to its annealing business. The company’s annealing systems include quantum processing units with more than 4,400 qubits.
Company details
- Sector
- Information Technology
- Industry (SIC)
- Business Services & Software
- Headquarters
- PALO ALTO, CA
- Fiscal year end
- December
- CIK
- 1907982
- SIC
- 7374
Financial performance, year by year
Fiscal 2020–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns D-Wave Quantum Inc. — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · D-Wave Quantum Inc.’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
Put this business in context.
Compare this company with peers, find it in your funds and follow its financial history with your connected AI:
- “How do D-Wave Quantum Inc. and its peers compare on margins and cash generation over ten years?”
- “Where did five years of D-Wave Quantum Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
- “What changed in D-Wave Quantum Inc.'s last four quarterly filings that the numbers alone won't show?”