QBTS
D-Wave Quantum Inc.
NYSE: QBTS · TECHNOLOGY · COMPUTER HARDWARE
$18.27
+0.88% today
Updated 2026-04-29
Market cap
$6.77B
P/E ratio
—
P/S ratio
275.25x
EPS (TTM)
$-1.11
Dividend yield
—
52W range
$7 – $47
Volume
26.5M
D-Wave Quantum Inc. (QBTS) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $5.16M | $6.28M | $7.17M | $8.76M | $8.83M | $24.59M |
| Revenue growth (YoY) | — | +21.7% | +14.2% | +22.1% | +0.8% | +178.5% |
| Cost of revenue | $915000.00 | $1.75M | $2.92M | $4.14M | $3.26M | $4.28M |
| Gross profit | $4.25M | $4.53M | $4.25M | $4.62M | $5.56M | $20.31M |
| Gross margin | 82.3% | 72.1% | 59.2% | 52.8% | 63.0% | 82.6% |
| R&D | $20.41M | $25.40M | $32.10M | $37.88M | $35.30M | $50.73M |
| SG&A | $11.59M | $11.90M | $21.54M | $37.01M | $32.42M | $41.19M |
| Operating income | $-31.47M | $-38.95M | $-59.46M | $-80.55M | $-77.22M | $-100.37M |
| Operating margin | -609.8% | -620.3% | -828.9% | -919.7% | -874.8% | -408.2% |
| EBITDA | $-14.06M | $-34.36M | $-49.03M | $-80.83M | $-138.05M | $-348.74M |
| EBITDA margin | -272.5% | -547.2% | -683.6% | -923.0% | -1564.0% | -1418.4% |
| EBIT | $-16.79M | $-36.96M | $-51.37M | $-82.68M | $-139.98M | $-351.05M |
| Interest expense | $5.18M | $4.01M | $2.33M | $2.15M | $3.90M | $4.01M |
| Income tax | $8.23M | $2.53M | $-12.56M | $-12.56M | $-143.88M | — |
| Effective tax rate | -59.9% | -6.6% | 19.0% | 13.2% | 50.0% | 0.0% |
| Net income | $-21.97M | $-40.97M | $-53.70M | $-82.72M | $-143.88M | $-355.06M |
| Net income growth (YoY) | — | -86.5% | -31.1% | -54.0% | -73.9% | -146.8% |
| Profit margin | -425.7% | -652.5% | -748.7% | -944.5% | -1630.0% | -1444.1% |