PerpEquitiesEquity
QBTS perpetual futures
D-Wave Quantum Inc. tracked across crypto venues with normalized contract specs.
Price chart
22.61▼ 5.25%
22.5023.0023.5024.0024.50
Jun 30Jul 1Jul 3Jul 4Jul 6
24/7 perp mark · BingX (QBTS-USDT)
Auto: market closed → highest-volume perp venue
Trading data
Perpetual market activity
Venues
2
Live markets
2/2
24h volume
$2.0M
Open interest
$160k
Best liquidity
$390k
Bitget
Tightest spread
+8.8 bps
Bitget
Highest volume
$1.2M
BingX
Settlement mix
USDT · 2/2
Best Liquidity
QBTSTightest Spread
QBTSHighest Volume
QBTSCompany data
Company fundamentals
Market cap
$8.6B
Updated 5h ago
Revenue
$24.6M
Trailing 12 months
Net income
$-355.1M
Trailing 12 months
Free cash flow
$-75.8M
Trailing 12 months
Profit margin
-2957.2%
P/E
-20.4
P/S
351.2
Revenue estimate
$42.8M
Next fiscal year
Revenue growth
+74%
Next fiscal year
Fundamental detail
Annual + quarterlyLatest revenue$24.6M
Net margin-1444.1%
Free cash flow$-75.8M
Net debt$-591.9M
PeriodRevenueGrowthNet incomeFCF
2020$5.2M-$-22.0M$-30.1M
2021$6.3M+22%$-41.0M$-36.8M
2022$7.2M+14%$-53.7M$-45.7M
2023$8.8M+22%$-82.7M$-61.3M
2024$8.8M+1%$-143.9M$-44.7M
2025$24.6M+179%$-355.1M$-75.8M
PeriodGross marginOperating marginNet marginROEROA
2020+82.3%-609.8%-425.7%-67.1%-46.3%
2021+72.1%-620.3%-652.5%+223.2%-139.0%
2022+59.2%-828.9%-748.7%+182.3%-199.3%
2023+52.8%-919.7%-944.5%+337.9%-139.4%
2024+63.0%-874.8%-1630.0%-229.7%-72.0%
2025+82.6%-408.2%-1444.1%-41.7%-38.8%
PeriodCashDebtNet debtCurrent ratio
2020$21.3M$4.7M$-16.7M3.45
2021$9.5M$39.4M$29.9M1.53
2022$7.1M$42.3M$35.2M0.87
2023$41.3M$72.7M$31.3M4.18
2024$178.0M$38.4M$-139.6M6.14
2025$635.3M$43.5M$-591.9M42.38
PeriodMarket capEnterprise valueP/SP/E
2020$1.1B$1.1B221.4-52.0
2021$1.2B$1.3B196.0-29.8
2022$172.3M$207.5M24.0-3.2
2023$121.4M$152.8M13.9-1.5
2024$1.6B$1.5B182.8-11.2
2025$8.4B$7.8B341.6-23.6
PeriodRevenueGrowthNet incomeFCF
Q2 2024$2.2M+28%$-17.8M$-15.1M
Q3 2024$1.9M-27%$-22.7M$-18.4M
Q4 2024$2.3M-21%$-86.1M$1.1M
Q1 2025$15.0M+509%$-5.4M$-19.7M
Q2 2025$3.1M+42%$-167.3M$-16.0M
Q3 2025$3.7M+100%$-140.0M$-20.1M
Q4 2025$2.8M+19%$-42.3M$-20.0M
Q1 2026$2.9M-81%$-18.4M$-46.0M
PeriodGross marginOperating marginNet marginROEROA
Q2 2024+63.6%-863.0%-814.4%+82.6%-28.8%
Q3 2024+55.8%-1103.5%-1214.5%+134.3%-45.8%
Q4 2024+63.8%-876.2%-3727.9%-137.4%-43.1%
Q1 2025+92.5%-75.3%-36.1%-2.6%-1.7%
Q2 2025+63.8%-856.3%-5406.4%-24.1%-19.8%
Q3 2025+71.4%-741.8%-3743.9%-20.9%-16.2%
Q4 2025+64.8%-1266.0%-1538.0%-5.0%-4.6%
Q1 2026+63.6%-1914.9%-642.3%-1.6%-1.5%
PeriodCashDebtNet debtCurrent ratio
Q2 2024$40.9M$72.4M$31.5M1.09
Q3 2024$29.3M$54.6M$25.4M1.36
Q4 2024$178.0M$38.4M$-139.6M6.14
Q1 2025$304.3M$38.5M$-265.9M20.73
Q2 2025$819.3M$40.0M$-779.3M42.99
Q3 2025$836.2M$39.8M$-796.4M54.68
Q4 2025$635.3M$43.5M$-591.9M42.38
Q1 2026$338.2M$46.8M$-291.4M21.41
PeriodMarket capEnterprise valueP/SP/E
Q2 2024$185.9M$217.5M85.2-2.7
Q3 2024$198.1M$223.5M106.0-2.2
Q4 2024$2.0B$1.8B847.6-5.7
Q1 2025$2.2B$1.9B145.1-100.5
Q2 2025$4.3B$3.5B1392.6-6.4
Q3 2025$8.4B$7.6B2256.4-15.1
Q4 2025$9.2B$8.6B3353.6-54.5
Q1 2026$5.3B$5.0B1855.4-72.1
Refreshed 5h ago
Research data
Estimates, events and peers
Estimates
6 periodsFY 2026$42.8M+74%10 analysts
FY 2027$85.8M+249%9 analysts
FY 2028$143.4M+483%3 analysts
FY 2029$269.6M+997%4 analysts
FY 2030$428.3M+1642%4 analysts
Q4 2028$42.2M+1432%4 analysts
Events
Earnings · dividends · splits2026-08-06EarningsRevenue est. $4.0M
2026-05-12EarningsRevenue est. $4.2M
2026-02-26EarningsRevenue est. $3.7M
2025-11-06EarningsRevenue est. $3.0M
2025-08-07EarningsRevenue est. $3.0M
2025-05-08EarningsRevenue est. $3.7M