D-Wave Quantum Inc. (QBTS) income statement
NASDAQ · Technology · Computer Hardware · 385 employees · CEO Alan E. Baratz
- Price
- $10.65 -7.87%
- Market cap
- $4.01B
- Enterprise value
- $3.73B
- Last report
- Q2 '26 filed 2026-08-06
- Next report
- 2026-11-10 EPS est. -$0.10
D-Wave Quantum Inc. (QBTS) reported revenue of $3.08M for Q2 '26 (-0.6% year on year), operating income of -$53.3M (-1,732.1% of revenue) and net income of -$48M. Over the last four quarters revenue was $12.4M.
Income statement
| Income statement | Trend | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.56M | $2.91M | $2.47M | $2.18M | $1.87M | $2.31M | $15M | $3.1M | $3.74M | $2.75M | $2.86M | $3.08M | |
| Cost of revenue | $1.03M | $939K | $806K | $795K | $827K | $836K | $1.12M | $1.12M | $1.07M | $968K | $1.04M | $1.37M | |
| Gross profit | $1.53M | $1.97M | $1.66M | $1.39M | $1.04M | $1.47M | $13.9M | $1.98M | $2.67M | $1.78M | $1.82M | $1.7M | |
| Research & development | $9.46M | $7.96M | $8.53M | $8.36M | $8.67M | $9.75M | $10.3M | $12.7M | $14.1M | $13.7M | $25.8M | $28.2M | |
| Sales & marketing | $2.47M | $2.41M | $3.08M | $4.4M | $3.75M | $3.83M | $6.92M | $6.63M | $6.95M | $8.25M | $10.5M | $11.4M | |
| General & administrative | $8M | $8.14M | $7.57M | $7.47M | $9.26M | $8.13M | $7.96M | $9.15M | $9.38M | $14.7M | $20.3M | $15.4M | |
| Operating expenses | $19.9M | $18.5M | $19.2M | $20.2M | $21.7M | $21.7M | $25.2M | $28.5M | $30.4M | $36.6M | $56.5M | $55M | |
| Operating income | -$18.4M | -$16.5M | -$17.5M | -$18.8M | -$20.6M | -$20.2M | -$11.3M | -$26.5M | -$27.7M | -$34.8M | -$54.7M | -$53.3M | |
| Interest income | $0 | $1.79M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $8.12M | $0 | $5.03M | |
| Interest expense | $1.76M | $0 | $1.14M | $1.16M | $1.18M | $417K | $226K | $206K | $201K | $3.38M | $5.79M | $255K | |
| Other non-operating income (gains on investments, FX ...) | -$3.34M | $2.28M | -$1.34M | -$2.22M | $896K | $65.4M | -$6.1M | $141M | $112M | $4.11M | -$8.18M | -$5.51M | |
| Total non-operating income | $2.3M | $162K | $204K | $1.06M | -$2.08M | -$65.8M | $5.87M | -$141M | -$112M | -$7.49M | $7.92M | $5.26M | |
| Income before tax | -$16.1M | -$16.4M | -$17.3M | -$17.8M | -$22.7M | -$86.1M | -$5.42M | -$167M | -$140M | -$42.3M | -$46.8M | -$48M | |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$28.5M | $8K | |
| Net income | -$16.1M | -$16.4M | -$17.3M | -$17.8M | -$22.7M | -$86.1M | -$5.42M | -$167M | -$140M | -$42.3M | -$18.4M | -$48M | |
| EPS (basic) | -$0.12 | -$0.10 | -$0.11 | -$0.10 | -$0.11 | -$0.37 | -$0.02 | -$0.57 | -$0.41 | -$0.12 | -$0.05 | -$0.13 | |
| EPS (diluted) | -$0.12 | -$0.10 | -$0.11 | -$0.10 | -$0.11 | -$0.37 | -$0.02 | -$0.57 | -$0.41 | -$0.12 | -$0.05 | -$0.13 | |
| Shares (basic, weighted) | 133M | 159M | 161M | 172M | 202M | 233M | 286M | 294M | 341M | 353M | 367M | 371M | |
| Shares (diluted, weighted) | 133M | 159M | 161M | 172M | 202M | 233M | 286M | 294M | 342M | 353M | 367M | 371M | |
| Depreciation & amortization | $383K | $444K | $428K | $480K | $450K | $574K | $553K | $507K | $568K | $678K | $4.15M | $5.09M | |
| EBITDA | -$14.7M | -$18.4M | -$15.7M | -$16.1M | -$21.1M | -$85.1M | -$4.64M | -$167M | -$139M | -$38.3M | -$42.4M | -$42.7M |
| Income statement | Trend | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Revenue | $5.16M | $6.28M | $7.17M | $8.76M | $8.83M | $24.6M | |
| Cost of revenue | $915K | $1.75M | $2.92M | $4.14M | $3.26M | $4.28M | |
| Gross profit | $4.25M | $4.53M | $4.25M | $4.62M | $5.56M | $20.3M | |
| Research & development | $20.4M | $25.4M | $32.1M | $37.9M | $35.3M | $50.7M | |
| Sales & marketing | $3.71M | $6.18M | $10.1M | $10.3M | $15.1M | $28.8M | |
| General & administrative | $11.6M | $11.9M | $21.5M | $37M | $32.4M | $41.2M | |
| Operating expenses | $35.7M | $43.5M | $63.7M | $85.2M | $82.8M | $121M | |
| Operating income | -$31.5M | -$38.9M | -$59.5M | -$80.5M | -$77.2M | -$100M | |
| Interest income | $0 | $0 | $0 | $0 | $0 | $24.1M | |
| Interest expense | $5.18M | $4.01M | $2.34M | $2.16M | $3.9M | $4.01M | |
| Other non-operating income (gains on investments, FX ...) | -$14.7M | -$1.99M | -$8.09M | $2.13M | $62.8M | $251M | |
| Total non-operating income | $9.5M | -$2.03M | $5.76M | -$2.17M | -$66.7M | -$255M | |
| Income before tax | -$22M | -$41M | -$53.7M | -$82.7M | -$144M | -$355M | |
| Net income | -$22M | -$41M | -$53.7M | -$82.7M | -$144M | -$355M | |
| EPS (basic) | -$0.20 | -$0.33 | -$0.45 | -$0.60 | -$0.75 | -$1.11 | |
| EPS (diluted) | -$0.20 | -$0.33 | -$0.45 | -$0.60 | -$0.75 | -$1.11 | |
| Shares (basic, weighted) | 110M | 125M | 120M | 138M | 192M | 321M | |
| Shares (diluted, weighted) | 110M | 125M | 120M | 138M | 192M | 321M | |
| Depreciation & amortization | $2.73M | $2.6M | $2.33M | $1.85M | $1.93M | $2.31M | |
| EBITDA | -$14.1M | -$34.4M | -$49M | -$80.8M | -$138M | -$349M |
Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe other statements
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-02