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Jun 30, 2023
D-Wave Q2 2023 Earnings Report
D-Wave's Q2 2023 performance reflected growing enterprise interest in quantum solutions, marked by increased bookings and deal sizes.
Key Takeaways
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.
Revenue for the second quarter of fiscal 2023 was $1.7 million, a 25% increase year-over-year.
Bookings for the second quarter of fiscal 2023 were $2.5 million, a 146% increase year-over-year.
Average deal size per booking increased by 136% compared to the second quarter of fiscal 2022.
Cash balance exceeded $50 million.
Signed new and expanded customer engagements with Forbes Global 2000 companies including Interpublic Group and VINCI Energies as well as industry leaders such as Unisys Corporation.
Forward Guidance
D-Wave is reiterating the full year 2023 financial guidance set forth in their July 20, 2023, preliminary second quarter revenue and bookings press release.
Positive Outlook
- Expect fiscal 2023 revenue to be in a range of $11 million to $13 million.
Challenges Ahead
- Expect fiscal 2023 Adjusted EBITDA to be less than negative $58 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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