DWave Quantum Inc (QBTS)

Name: DWave Quantum Inc Financial Statements
Creator: Quarter Results

Technology | Computer Hardware

Latest reporting period: 2026-03-31

Latest Quarter

2026-03-31

Revenue

$2.9M

Net Income

-$18.4M

Operating Margin

-1,914.9%

Free Cash Flow

-$75.8M

Debt / Assets

6.9%

Values are in USD and rounded to the nearest whole number unless noted.

Swipe horizontally to view all columns.

Income statement quarterly history for DWave Quantum Inc (QBTS).
Income Statement (Quarterly)	2026-03-31	2025-03-31	2024-12-31	2024-09-30
Revenue	2,858,000	15,001,000	2,309,000	1,870,000
Cost of Revenue	1,040,000	1,124,000	836,000	827,000
Gross Profit	1,818,000	13,877,000	1,473,000	1,043,000
Operating Expenses
R&D Expenses	0	0	0	0
SG&A Expenses	30,752,000	14,880,000	11,953,000	13,011,000
Operating Expenses	56,545,000	25,168,000	21,705,000	21,679,000
Operating Income	-54,727,000	-11,291,000	-20,232,000	-20,636,000
Interest Expense	5,785,000	-226,000	417,000	1,180,000
Income Before Tax	-46,809,000	-5,421,000	-86,077,000	-22,712,000
Income Tax Expense	-28,452,000	0	0	0
Net Income	-18,357,000	-5,421,000	-86,077,000	-22,712,000
Per Share
EPS	-0.05	-0.02	-0.37	-0.11
EPS Diluted	0.00	0.00	0.00	0.00

Income statement annual history for DWave Quantum Inc (QBTS).
Income Statement (Annual)	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Revenue	24,587,000	8,827,000	8,758,000	7,173,000	6,279,000
Cost of Revenue	4,281,000	3,264,000	4,136,000	2,923,000	1,750,000
Gross Profit	20,306,000	5,563,000	4,622,000	4,250,000	4,529,000
Operating Expenses
R&D Expenses	0	0	0	0	0
SG&A Expenses	69,940,000	47,486,000	47,290,000	31,607,000	18,076,000
Operating Expenses	120,674,000	82,786,000	85,168,000	63,708,000	36,310,000
Operating Income	-100,368,000	-77,223,000	-80,546,000	-59,458,000	-38,948,000
Interest Expense	4,013,000	3,897,000	37,000	4,633,000	1,728,000
Income Before Tax	-355,062,000	-143,879,000	-82,715,000	-51,529,000	-31,545,000
Income Tax Expense	0	0	0	-12,562,000	0
Net Income	-355,062,000	-143,879,000	-82,715,000	-38,967,000	-31,545,000
Per Share
EPS	-1.11	-0.75	-0.60	-0.33	-0.29
EPS Diluted	0.00	0.00	0.00	0.00	0.00

Balance sheet quarterly history for DWave Quantum Inc (QBTS).
Balance Sheet (Quarterly)	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Assets
Cash and Cash Equivalents	635,347,000	177,980,000	41,307,000	7,065,000
Short Term Investments	249,134,000	0	0	0
Net Receivables	1,587,000	1,420,000	1,738,000	1,021,000
Inventory	2,776,000	1,686,000	2,077,999	2,196,000
Total Current Assets	896,232,000	185,040,000	47,046,000	13,925,000
Property Plant Equipment	14,359,000	11,394,000	10,774,000	11,427,000
Goodwill and Intangibles	915,000	490,000	179,000	244,000
Total Assets	915,813,000	199,853,000	59,356,000	26,947,000
Liabilities
Account Payables	950,000	815,000	1,465,000	3,756,000
Short Term Debt	1,582,000	1,860,000	3,147,000	3,624,000
Total Current Liabilities	21,148,000	30,145,000	11,250,000	15,848,000
Long Term Debt	6,050,000	36,517,000	70,878,000	15,370,000
Total Liabilities	63,583,000	137,207,000	83,837,000	33,119,000
Shareholders Equity
Retained Earnings	-982,002,000	-626,940,000	-483,061,000	-377,055,000
Total Shareholders Equity	852,230,000	62,646,000	-24,481,000	-6,172,000

Balance sheet annual history for DWave Quantum Inc (QBTS).
Balance Sheet (Annual)	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Assets
Cash and Cash Equivalents	635,347,000	177,980,000	41,307,000	7,065,000	9,483,000
Short Term Investments	249,134,000	0	0	0	0
Net Receivables	1,587,000	1,420,000	1,738,000	1,021,000	5,212,000
Inventory	2,776,000	1,686,000	2,077,999	2,196,000	2,114,000
Total Current Assets	896,232,000	185,040,000	47,046,000	13,925,000	19,158,000
Property Plant Equipment	14,359,000	11,394,000	10,774,000	11,427,000	11,827,000
Goodwill and Intangibles	915,000	490,000	179,000	244,000	272,000
Total Assets	915,813,000	199,853,000	59,356,000	26,947,000	32,610,000
Liabilities
Account Payables	950,000	815,000	1,465,000	3,756,000	2,109,000
Short Term Debt	1,582,000	1,860,000	3,147,000	3,624,000	1,946,000
Total Current Liabilities	21,148,000	30,145,000	11,250,000	15,848,000	10,295,000
Long Term Debt	6,050,000	36,517,000	70,878,000	15,370,000	19,223,000
Total Liabilities	63,583,000	137,207,000	83,837,000	33,119,000	29,590,000
Shareholders Equity
Retained Earnings	-982,002,000	-626,940,000	-483,061,000	-377,055,000	-325,268,000
Total Shareholders Equity	852,230,000	62,646,000	-24,481,000	-6,172,000	3,020,000

Cash flow quarterly history for DWave Quantum Inc (QBTS).
Cash Flow Statement (Quarterly)	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Operating Activities
Net Income	-355,062,000	-143,879,000	-82,715,000	-51,529,000
Depreciation & Amortization	2,306,000	1,932,000	1,845,000	2,333,000
Stock Based Compensation	22,657,000	15,661,000	21,919,000	9,164,000
Change in Working Capital	-14,296,000	20,862,000	-2,698,000	3,022,000
Operating Cash Flow	-71,982,000	-42,643,000	-60,649,000	-45,226,000
Investing Activities
Capital Expenditure	-3,862,000	-2,106,000	-630,000	-498,000
Investments	-3,862,000	-2,106,000	-630,000	-498,000
Investing Cash Flow	-251,135,000	-3,141,000	-630,000	-498,000
Financing Activities
Debt Repayment	0	-30,370,000	-26,748,000	-21,909,000
Common Stock Issued/Repurchased	574,528,000	214,191,000	66,554,999	40,000,000
Dividends Paid	0	0	0	0
Financing Cash Flow	779,149,000	182,450,000	95,636,000	43,265,000
Summary
Free Cash Flow	-75,844,000	-44,749,000	-61,279,000	-45,724,000
Net Change in Cash	457,367,000	136,673,000	34,242,000	-2,418,000

Cash flow annual history for DWave Quantum Inc (QBTS).
Cash Flow Statement (Annual)	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Operating Activities
Net Income	-355,062,000	-143,879,000	-82,715,000	-51,529,000	-31,545,000
Depreciation & Amortization	2,306,000	1,932,000	1,845,000	2,333,000	2,602,000
Stock Based Compensation	22,657,000	15,661,000	21,919,000	9,164,000	1,739,000
Change in Working Capital	-14,296,000	20,862,000	-2,698,000	3,022,000	-1,165,000
Operating Cash Flow	-71,982,000	-42,643,000	-60,649,000	-45,226,000	-34,800,000
Investing Activities
Capital Expenditure	-3,862,000	-2,106,000	-630,000	-498,000	-1,999,000
Investments	-3,862,000	-2,106,000	-630,000	-498,000	-1,774,000
Investing Cash Flow	-251,135,000	-3,141,000	-630,000	-498,000	-1,999,000
Financing Activities
Debt Repayment	0	-30,370,000	-26,748,000	-21,909,000	-31,000
Common Stock Issued/Repurchased	574,528,000	214,191,000	66,554,999	40,000,000	85,000
Dividends Paid	0	0	0	0	0
Financing Cash Flow	779,149,000	182,450,000	95,636,000	43,265,000	24,913,000
Summary
Free Cash Flow	-75,844,000	-44,749,000	-61,279,000	-45,724,000	-36,799,000
Net Change in Cash	457,367,000	136,673,000	34,242,000	-2,418,000	-11,852,000