QBTS
DWave Quantum Inc
Q4 2024 Report
D-Wave Quantum Inc (QBTS) Q4 2024 Financial Analysis: Transformative Advances in Quantum Computing...
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Executive Summary
In Q1 2024, DWave Quantum Inc demonstrated significant growth despite core operational challenges, highlighting the resilience and strategic positioning of the company within the quantum computing landscape. The quarterly revenue reached $2.5 million, representing a vibrant year-over-year growth of 56% compared to Q1 FY 2023, driven by increased demand for quantum-powered solutions from a diverse array of sectors including government and healthcare. Management underscored the company's ongoing commitment to innovation with the introduction of the Fast Anneal feature, aimed at enhancing operational efficiency. However, the company faced continued net losses totaling $17.3 million, reflecting substantial investments in R&D and general operational expenditures. Looking ahead, DWave remains optimistic about future growth driven by expanding customer use cases, partnerships, and industry adoption fueled by recent legislative advancements in quantum technology.
Key Performance Indicators
Revenue
2.47M
QoQ: -15.18% | YoY:55.72%
Gross Profit
1.66M
67.30% margin
QoQ: -15.66% | YoY:294.06%
Operating Income
-17.52M
QoQ: -5.89% | YoY:29.06%
Net Income
-17.31M
QoQ: -8.11% | YoY:30.70%
EPS
-0.11
QoQ: -10.00% | YoY:45.00%
Revenue Trend
Margin Analysis
Key Insights
**Revenue Performance**: DWave achieved a total revenue of **$2.5 million**, which is a **56% increase year-over-year**; however, this is a **15.2% decline sequentially** from the prior quarter, which aligns with typical seasonality patterns. **Gross Profit**: Gross profit was reported at **$1.7 million**, leading to a notable **294% increase year-over-year**. The **gross profit margin** improved significantly to **67.3%**, compared to **26.6%** in Q1 FY 2023. **Operating Expenses**: Total o...