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D Wave Quantum Inc $QBTS

Information Technology

Russell 2000 California
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$11.48
-0.63 (-5.17%)
As of Oct 22, 2026, 2:54 PM EDT · cached
Price history
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D Wave Quantum Inc (QBTS) is trading down at $11.48 (-5.17%), as of the latest quote. It is a Russell 2000 constituent in the Information Technology sector.

D Wave Quantum Inc revenue & net income history (FY2020–FY2025)

RevenueNet incomeNet margin (right axis, %)
$24.6M−$165.2M−$355.1MFY2020 revenue: $5.16MFY2020 net income: −$22.0M · Net margin −425.7%'20FY2021 revenue: $6.28MFY2021 net income: −$41.0M · Net margin −652.5%'21FY2022 revenue: $7.17MFY2022 net income: −$53.7M · Net margin −748.7%'22FY2023 revenue: $8.76MFY2023 net income: −$82.7M · Net margin −944.5%'23FY2024 revenue: $8.83MFY2024 net income: −$143.9M · Net margin −1630.0%'24FY2025 revenue: $24.6MFY2025 net income: −$355.1M · Net margin −1444.1%'25−100%−75%−50%−25%0%FY2020 net margin: −425.7% (off the scale, which stops at −100.0%)FY2021 net margin: −652.5% (off the scale, which stops at −100.0%)FY2022 net margin: −748.7% (off the scale, which stops at −100.0%)FY2023 net margin: −944.5% (off the scale, which stops at −100.0%)FY2024 net margin: −1630.0% (off the scale, which stops at −100.0%)FY2025 net margin: −1444.1% (off the scale, which stops at −100.0%)
D Wave Quantum Inc annual financial statements
FY2020Dec 2020FY2021Dec 2021FY2022Dec 2022FY2023Dec 2023FY2024Dec 2024FY2025Dec 2025
Income statement
Revenue$5.16M$6.28M$7.17M$8.76M$8.83M$24.6M
Growth (year over year)—+21.7%+14.2%+22.1%+0.8%+178.5%
Gross profit$4.25M$4.53M$4.25M$4.62M$5.56M$20.3M
Gross margin82.3%72.1%59.2%52.8%63.0%82.6%
Operating income−$31.5M−$38.9M−$59.5M−$80.5M−$77.2M−$100.4M
Operating margin−609.8%−620.3%−828.9%−919.7%−874.8%−408.2%
Net income−$22.0M−$41.0M−$53.7M−$82.7M−$143.9M−$355.1M
Net margin−425.7%−652.5%−748.7%−944.5%−1630.0%−1444.1%
EPS (diluted)−$0.17−$0.33−$0.45−$0.60−$0.75−$1.11
Balance sheet
Cash and equivalents$21.3M$9.48M$7.07M$41.3M$178.0M$635.3M
Total assets$35.8M$29.5M$26.9M$59.4M$199.9M$915.8M
Total liabilities$15.0M$47.8M$56.4M$83.8M$137.2M$63.6M
Long-term debt$1.61M$30.3M$31.2M$63.9M$30.1M$35.8M
Shareholders' equity$20.8M−$18.4M−$29.5M−$24.5M$62.6M$852.2M
Cash flow
Operating cash flow−$29.3M−$34.8M−$45.2M−$60.6M−$42.6M−$72.0M
Capital expenditure$736.0K$1.77M$423.0K$583.0K$2.11M$3.86M
Free cash flow−$30.0M−$36.6M−$45.6M−$61.2M−$44.7M−$75.8M

From D Wave Quantum Inc's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →

About D Wave Quantum Inc

Headquarters
Palo Alto, California From SEC filings, Oct 2026

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