Loading...
•
Dec 31, 2023
D-Wave Q4 2023 Earnings Report
D-Wave's Q4 2023 financial results were released, with revenue and bookings up year over year, alongside expanding gross margins and declining operating expenses.
Key Takeaways
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.
Q4 revenue increased by 21% year-over-year to $2.9 million.
Q4 bookings increased by 34% year-over-year to $3.1 million.
GAAP gross profit increased by 45% year-over-year to $2.0 million, with a gross margin of 67.7%.
Net loss decreased by 12% year-over-year to $16.0 million, or $0.10 per share.
Forward Guidance
D-Wave anticipates that the Adjusted EBITDA Loss for fiscal year 2024 will be less than the fiscal year 2023 Adjusted EBITDA Loss of $54.3 million. First quarter bookings for fiscal year 2024 are expected to be at least $4.3 million.
Positive Outlook
- Fiscal 2024 Adjusted EBITDA Loss is expected to be less than the fiscal 2023 Adjusted EBITDA Loss of $54.3 million.
- Fiscal 2024 first quarter bookings are expected to be at least $4.3 million.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...