D-Wave Earnings Reports

D-Wave delivered a strong Q1 2025 with $15M in revenue driven by a major system sale, while continuing to make notable technical and commercial advancements.

D-Wave's Q4 2024 revenue declined by 21% to $2.3 million, primarily due to lower professional services revenue. However, bookings surged 502% year-over-year to a record $18.3 million. Despite a 25% drop in gross profit, the company maintained a 63.8% gross margin. Net loss widened to $86.1 million due to a non-cash remeasurement charge related to warrant liabilities.

D-Wave reported a decrease in overall revenue for Q3 2024, with total revenue at $1.9 million, a 27% decrease year-over-year. However, QCaaS revenue increased by 41%. The company's net loss increased to $22.7 million, and GAAP gross profit decreased by 32%.

D-Wave Quantum Inc. reported a 28% year-over-year increase in revenue for the second quarter of 2024, along with a 6% increase in bookings and a 97% increase in GAAP gross profit. The company also highlighted technical advancements and customer traction.

D-Wave's first quarter 2024 results showed significant growth, with revenue increasing by 56% and bookings up by 54% compared to the previous year. The company also achieved a 294% increase in gross profit, reflecting growing customer demand and increased operating efficiencies.

D-Wave reported a 21% increase in Q4 revenue year-over-year, reaching $2.9 million, and a 34% increase in bookings. The company also saw improvements in gross profit and margins, as well as a decrease in operating expenses, leading to a reduced net loss.

D-Wave Quantum Inc. reported a 51% year-over-year increase in revenue for Q3 2023, reaching $2.6 million. The company's cash balance reached a record high of $53.3 million. Bookings increased by 53% year-over-year, and commercial revenue saw a 62% increase.

D-Wave Quantum Inc. reported a revenue of $1.7 million and bookings of $2.5 million for the second quarter ended June 30, 2023. The company's cash balance exceeded $50 million. They are reiterating the full year 2023 financial guidance.