D-Wave Earnings Reports

D-Wave doubled its revenue from the prior year’s quarter, improved gross profit significantly, and closed the quarter with the highest cash balance in its history, though its net loss widened due to non-operating expenses.

D-Wave posted strong year-over-year revenue growth in Q2 2025 and ended the quarter with a record $819 million in cash, driven by successful financing activities. However, the company reported a steep net loss due to non-cash warrant remeasurement charges.

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.