Stocks Technology QBTS
NASDAQ · TechnologyD-Wave Quantum Inc. (QBTS)
D-Wave Quantum Inc. brought in $12.4M of revenue over the twelve months to June 30, 2026, down 44.2% from a year earlier. It posted a net loss of $248.7M. In fiscal 2025 capital spending exceeded operating cash flow by $75.8M. At June 30, 2026 it held $296.6M in cash against $34.9M of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on August 6, 2026.
Key facts about D-Wave Quantum Inc.
- Net worth
- D-Wave Quantum Inc. has a market value (market cap) of $3.9B at the latest share price, and shareholders' equity of $1.1B on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $24.6M (+178.5% year on year), with a net loss of $355.1M. Over the 12 months to June 30, 2026: revenue $12.4M, net loss $248.7M.
- Cash flow
- In fiscal 2025 operations used $72M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on August 6, 2026 and covers the period to June 30, 2026. Open on SEC EDGAR
What D-Wave Quantum Inc. does
D-Wave Quantum Inc. is registered with the SEC under industry code SIC 7374 (Services-Computer Processing & Data Preparation). Its shares trade on NASDAQ under the ticker QBTS.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $24.6M | -$355.1M | -$1.11 | -$75.8M |
| 2024 | $8.8M | -$143.9M | -$0.75 | -$44.7M |
| 2023 | $8.8M | -$82.7M | -$0.60 | -$61.2M |
| 2022 | $7.2M | -$53.7M | -$0.45 | -$45.6M |
| 2022 | $6.3M | -$41M | -$0.33 | -$36.6M |
| 2020 | $5.2M | -$22M | -$0.17 | -$30M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where QBTS ranks in Technology
Latest SEC filings
What D-Wave Quantum Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 4, 2026
- October 28, 2026
- October 1, 2026
- September 22, 2026Executive or director change8-K/AD-Wave Quantum disclosed the compensation terms for Acting Chief Financial Officer Greg Golkov.
- September 21, 2026Executive or director change8-KD-Wave Quantum appointed Bernard Gavgani to its Board of Directors and Cybersecurity Committee.
- September 17, 2026
- September 15, 2026
- September 10, 2026Other event 8-K
- September 9, 2026Material agreement 8-K/A
- September 8, 2026
Insider trades
What the people running D-Wave Quantum Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $19.8K worth of shares in the last 90 days and bought none on the open market. All of the selling was pre-planned under Rule 10b5-1 trading plans.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| October 15, 2026 | Baratz Alan EPresident & CEO, Director | Shares withheld for tax | 52,320 | $629.4K |
| October 15, 2026 | Nguyen DianeEVP, Chief Legal Officer & GC | Shares withheld for tax | 4,066 | $48.9K |
| October 15, 2026 | Ames Sophie CExec. Vice President & CHRO | Shares withheld for tax | 3,180 | $38.3K |
| October 15, 2026 | Golkov GregoryActing CFO & SVP, Finance | Shares withheld for tax | 15,859 | $190.8K |
| September 18, 2026 | Gavgani BernardDirector | Received as pay | 16,493 | - |
| September 17, 2026 | Golkov GregoryActing CFO & SVP, Finance | Received as pay | 27,081 | - |
| September 15, 2026 | Golkov GregoryActing CFO & SVP, Finance | Shares withheld for tax | 1,132 | $19.1K |
| September 15, 2026 | Nguyen DianeEVP, Chief Legal Officer & GC | Shares withheld for tax | 3,191 | $53.7K |
Who owns QBTS
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Vanguard Portfolio Management13G, passive | 5.75% | April 29, 2026 |
| Vanguard Capital Management13G, passive | 5.08% | April 29, 2026 |
Largest institutional holders
Insiders
14 insiders reported holding 6,257,715 shares in total, about $65.6M at the last price.
| Holder | Shares |
|---|---|
| Baratz Alan EPresident & CEO, Director | 3,195,131 |
| Markovich John M.Chief Financial Officer | 1,123,629 |
| Ames Sophie CExec. Vice President & CHRO | 560,435 |
| Nguyen DianeEVP, Chief Legal Officer & GC | 499,236 |
| Golkov GregoryActing CFO & SVP, Finance | 411,013 |
| Black Stanley TExec. Vice President & CISO | 133,278 |
| Nielsen KirstjenDirector | 122,030 |
| Holt Sharon EDirector | 84,696 |
| West Steven MDirector | 29,27682 held indirectly |
| Ghai RohitDirector | 23,617 |
Questions about QBTS
What does D-Wave Quantum Inc. do?
D-Wave Quantum Inc. is a company in the Technology sector, listed on NASDAQ as QBTS. Its shares trade on NASDAQ under the ticker QBTS.
What is D-Wave Quantum Inc.'s net worth?
D-Wave Quantum Inc. has a market value (market cap) of $3.9B at the latest share price, and shareholders' equity of $1.1B on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is D-Wave Quantum Inc. profitable?
No. Over the twelve months to June 30, 2026 it reported a net loss of $248.7M on revenue of $12.4M.
How much revenue does D-Wave Quantum Inc. make?
Over the twelve months to June 30, 2026 D-Wave Quantum Inc. reported revenue of $12.4M. That is 44.2% less than a year earlier.
When did D-Wave Quantum Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on August 6, 2026. It covers the period to June 30, 2026. Its newest filing of any kind is the investor disclosure from November 4, 2026.
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Where the numbers come from
Financial figures are the values D-Wave Quantum Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.