D-Wave Q1 2024 Earnings Report
Key Takeaways
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.
Revenue for the first quarter of fiscal 2024 was $2.5 million, a 56% increase year-over-year.
Bookings for the first quarter of fiscal 2024 were $4.5 million, a 54% increase year-over-year.
GAAP gross profit for the first quarter of fiscal 2024 was $1.7 million, a 294% increase year-over-year.
Net loss for the first quarter of fiscal 2024 was $17.3 million, or $0.11 per share, a decrease from the fiscal 2023 first quarter net loss of $24.4 million, or $0.20 per share.
D-Wave
D-Wave
Forward Guidance
D-Wave is reiterating the full year 2024 financial guidance set forth in our March 28, 2024, fiscal 2023 fourth quarter and full year earnings press release.