D-Wave Quantum

QBTS

Market cap $6.95B

D-Wave Quantum posts a wider-than-expected Q4 loss as revenues rise 19% but miss estimates. The stock climbs 2.5% as cash surges and January bookings top $30M.

D-Wave Quantum Inc (NYSE: QBTS) shares are trading lower Friday morning as Wall Street recalibrated expectations following the company's latest earnings report. Here's what investors need to know.

Investors bid up D-Wave Quantum immediately after earnings -- then sold as Wall Street lowered price targets. Investors in D-Wave must weigh weak current results against the possibility of a breakthrough in 2028.

After weeks of anticipation—and amid a share price decline of nearly 29% year-to-date (YTD)—D-Wave Quantum Inc.

D-Wave Quantum Inc. (QBTS) Q4 2025 Earnings Call Transcript

D-Wave Quantum Inc. (QBTS) came out with a quarterly loss of $0.12 per share versus the Zacks Consensus Estimate of a loss of $0.05. This compares to a loss of $0.37 per share a year ago.

Revenue and bookings at D-Wave are growing. A new acquisition has also expanded its offerings.

The stock prices of the so-called Quantum Four are back on the rise today, after already accruing significant gains yesterday as well.

D-Wave reported a smaller Q4 loss while revenue missed views. D-Wave rose as quantum computing stocks gained on IonQ's results.

D-Wave Quantum trims back its losses in its latest quarter and points to strength in customer orders.