Revenue Performance: D-Wave reported Q4 revenue of $2.3 million, down 21% YoY, yet showed a 23.48% increase QoQ. This reflects the transition strategy toward quantum compute-as-a-service (QCaaS) following a profitable hardware sale.
Profitability Outlook: The net income for the quarter stood at -$86.1 million, adversely impacted by a $68.3 million non-cash, non-operating charge. Excluding this, adjusted net loss declined to $17.8 million. Management's guidance anticipates Q1 2025 revenue to exceed $10 million, signaling potential recovery.
Liquidity Position: Cash liquidity is robust, with cash and equivalents surpassing $300 million, ensuring operational stability and growth investments. The current ratio stands at 6.14, significantly above industry thresholds, demonstrating strong short-term financial viability.