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NYSE · US · Computer Hardware

QBTS D-Wave Quantum

Quantum annealing systems

Downtrend Trading below its 50-day average. (automatic: supply-chain trend + price vs 50-day average)
Last close (delayed) · 2026-11-12
$9.84
−7.61% today
1W
+8.7%
1M
−18.2%
3M
−53.5%
YTD
−62.4%
1Y
−62.7%
Off 52w high
−69.4%
Next earnings (est.): 2026-11-10
Market cap$3.74B
P/E (trailing)—Forward -25.4
EV / sales279.1×EV/EBITDA -21.5×
Revenue (TTM)$12.43MGrowth -0.6% y/y
Margins64.2%gross · op -1372.9%
Free cash flow-$73.38MCash $546M · debt $48.11M
Analyst target$30.59+210.9% upside · 16 analysts · strong buy
Riskβ 2.33Short 24.7% of float

Fundamentals from public market data, refreshed daily (2026-11-12 22:21 UTC). Figures in reporting currency.

QBTS · price with what management and the data said

Supply tighteningBeat / raiseMiss / cutData releaseEasing Hover a numbered marker for details · dashed lines = 50- and 200-day averages

Timeline: management commentary, data & earnings

8 events
  1. 8
    2026-11-10EarningsMiss / cut

    Reported EPS -0.13 vs -0.1 expected (-30.0% surprise).

  2. 7
    2026-08-06EarningsMiss / cut

    Reported EPS -0.13 vs -0.09 expected (-42.2% surprise).

  3. 6
    2026-05-12EarningsBeat / raise

    Reported EPS -0.05 vs -0.08 expected (+34.5% surprise).

  4. 5
    2026-02-26EarningsMiss / cut

    Reported EPS -0.09 vs -0.06 expected (-45.9% surprise).

  5. 4
    2025-11-06EarningsBeat / raise

    Reported EPS -0.05 vs -0.07 expected (+24.5% surprise).

  6. 3
    2025-08-07EarningsMiss / cut

    Reported EPS -0.08 vs -0.05 expected (-47.4% surprise).

  7. 2
    2025-05-08EarningsBeat / raise

    Reported EPS -0.03 vs -0.04 expected (+16.9% surprise).

  8. 1
    2025-03-13EarningsMiss / cut

    Reported EPS -0.08 vs -0.06 expected (-25.0% surprise).

Earnings history

EPS vs expectations
DateExpected EPSReported EPSSurprise
2026-11-10-0.1-0.13−30.0%
2026-08-06-0.09-0.13−42.2%
2026-05-12-0.08-0.05+34.5%
2026-02-26-0.06-0.09−45.9%
2025-11-06-0.07-0.05+24.5%
2025-08-07-0.05-0.08−47.4%
2025-05-08-0.04-0.03+16.9%
2025-03-13-0.06-0.08−25.0%
2024-11-14-0.08-0.1−26.3%
2024-08-08-0.08-0.11−45.0%
2024-05-13-0.07-0.1−37.5%
2024-03-28-0.08-0.09−10.6%
2023-11-09-0.12-0.14−18.1%
2023-08-10-0.13-0.16−24.5%
2023-05-19-0.11-0.14−34.5%
2023-04-14-0.13-0.12+6.0%
2022-11-10-0.12-0.11+11.7%
2022-08-16-0.13-0.12+7.7%

About D-Wave Quantum

Website ↗

D-Wave Quantum Inc. engages in the development and delivery of quantum computing systems, software, and services worldwide. It provides Advantage and Advantage 2 quantum computers; Ocean, a suite of open-source tools; and Leap quantum cloud service, a cloud-based service that provides real-time access to quantum computers and quantum hybrid solvers; and secure access and data protection services, as well as Ocean software development kit (SDK), a Python-based SDK for developers to learn and build applications on company's server. The company also provides Leap hybrid solver service that offers a combination of quantum and classical computation resources and advanced algorithms to solve problems of enterprise scale; and D-Wave Launch, a phased approach to identify and build in-production quantum hybrid applications, including training sessions and quantum computing access. In addition, th…

382 employees · Palo Alto, United States

Qubits need dilution refrigerators, helium-3, precision lasers and control electronics — all small, specialised supply chains.

Cryogenics→Qubits→Control→Algorithms

What would prove us wrong. Strengthens if error-corrected logical qubits scale on public roadmaps.

Peers at the same bottleneck

Who else supplies this

StockRoleLast1D1MYTDTrend
IONQ
IonQ
Trapped-ion quantum computers $30.86−9.40%−1.8%−31.2%
RGTI
Rigetti Computing
Superconducting quantum computers $10.33−7.02%−11.6%−53.4%
IBM
IBM
Superconducting quantum roadmap $244.7−1.43%+8.1%−15.1%
HON
Honeywell
Majority owner of Quantinuum $223.4−1.84%+7.6%+10.7%

Not investment advice. Prices delayed and in local currency. Quotes in "double quotes" are verbatim as reported by the linked source; other commentary is our paraphrase. Earnings dates are estimates.