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Sep 30, 2023
D-Wave Q3 2023 Earnings Report
D-Wave experienced growth in customer bookings, commercial revenue, and deal sizes, with customers transitioning from development to deployment of applications.
Key Takeaways
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.
Revenue increased by 51% year-over-year, reaching $2.6 million.
Commercial revenue grew by 62% year-over-year.
Total bookings increased by 53% year-over-year to $2.9 million.
Cash balance reached $53.3 million, the highest in the company's history.
D-Wave
D-Wave
Forward Guidance
D-Wave expects fiscal year 2023 revenue to be in the range of $10 million to $11.5 million and Adjusted EBITDA Loss to be less than $56 million.