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
DWave Quantum Inc (QBTS) exhibited significant momentum in Q4 2023, with notable revenue growth indicating a shift towards enterprise-scale adoption of quantum computing solutions. Despite reporting a net loss of $16 million, or $0.10 per share, the company delivered a 21% year-over-year improvement in revenue to $2.9 million, marking the third consecutive quarter of sequential revenue growth. Management highlighted ongoing advancements in technology, particularly with the Advantage2 quantum computing system, and strategic partnerships aimed at bolstering its offerings in AI, which position DWave for substantial growth in the coming quarters.
Key Performance Indicators
Revenue
2.91M
QoQ: 13.43% | YoY:21.34%
Gross Profit
1.97M
67.69% margin
QoQ: 28.65% | YoY:57.36%
Operating Income
-16.54M
QoQ: 10.13% | YoY:23.27%
Net Income
-16.01M
QoQ: -1.17% | YoY:-58.70%
EPS
-0.10
QoQ: 16.67% | YoY:-12.36%
Revenue Trend
Margin Analysis
Key Insights
**Revenue Performance**: In Q4, total revenue reached $2.9 million, up 21% from $2.4 million in Q4 2022, and up 13% sequentially from $2.6 million in Q3 2023. **Gross Profit**: The gross profit margin increased to 67.7%, compared to 56.9% in the same quarter last year, showcasing operational improvements. **Net Income**: The net loss narrowed from $18.2 million in Q4 2022 to $16 million in Q4 2023, reflecting better cost management. **Bookings**: Fourth-quarter bookings soared to $3.1 million...