When did D-Wave Quantum report Q1 2025 earnings?

D-Wave Quantum (QBTS) reported Q1 2025 earnings on May 8, 2025 before market open.

What were D-Wave Quantum's Q1 2025 revenue and EPS?

D-Wave Quantum reported revenue of $15.0M and eps of $-0.02 for Q1 2025.

Did D-Wave Quantum beat estimates in Q1 2025?

Revenue beat the consensus estimate of $3.7M by $11.3M. EPS beat the consensus estimate of $-0.05 by $0.03.

How did D-Wave Quantum's Q1 2025 results compare year-over-year?

Compared to the same quarter a year prior, revenue grew 508.6% from $2.5M a year earlier and eps grew 83.3% from $-0.12.

Where can I find D-Wave Quantum's Q1 2025 SEC filings?

You can read the 10-Q periodic report (0001907982-25-000090) directly on SEC EDGAR. The filing index links above go to sec.gov.

D-Wave Quantum QBTS Q1 2025 earnings

Reported May 8, 2025 · Before market open

Revenue$15.0MBeat by $11.3M

EPS-$0.02Beat by $0.03

Revenue estimate$3.7M

EPS estimate-$0.05

Next report

Aug 6, 2026 (In 1 week)

Revenue estimate$4.0M

EPS estimate-$0.08

Financials

Q1 2025

Income statement

See full

Revenue$15.0M+509%

Gross profit$13.9M+736%

Operating income-$11.3M+35.5%

Net income-$5.4M+68.7%

EPS (diluted)-$0.02+81.8%

Balance sheet

See full

Cash & equivalents$304.3M+1,015%

Total debt$38.1M-46.7%

Total equity$207.4M+661%

Total assets$325.6M+570%

Cash flow

See full

Operating cash flow-$19.3M-59.1%

CapEx$438.0K+43.6%

Free cash flow-$19.7M-58.7%

Valuation & ratios

Valuation

as of 03/31/25

See full

Market cap$2.21B+583%

Enterprise value$1.95B+429%

P/S103.6×+70.0×

Profitability

See full

Gross margin83.2%+22.4pp

Operating margin-332.3%-120pp

Net margin-617.8%-108pp

FCF margin-248.6%-93.3pp

Returns & leverage

See full

Debt / equity0.2×—

Current ratio20.7×+17.6×

Segments

By geography

See full

Germany$12.8M—

United States$497.0K—

Japan$482.0K—

Canada$304.0K—

By product

See full

System sales$12.6M—

QCaaS$1.5M-9.4%

Professional services$777.0K+21.6%

Versus estimates

Revenue

Q1 2026$2.9MMiss by $1.3M Q4 2025$2.8MMiss by $991.0K Q3 2025$3.7MBeat by $706.4K Q2 2025$3.1MBeat by $67.4K

Q1 2025$15.0MBeat by $11.3M

Q4 2024$2.3MMiss by $240.2K

Diluted EPS

Q1 2026-$0.05Beat by $0.03 Q4 2025-$0.12Miss by $0.07 Q3 2025-$0.41Miss by $0.34 Q2 2025-$0.55Miss by $0.49

Q1 2025-$0.02Beat by $0.03

Q4 2024-$0.37Miss by $0.28

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Questions, answered.

When did D-Wave Quantum report Q1 2025 earnings?: D-Wave Quantum (QBTS) reported Q1 2025 earnings on May 8, 2025 before market open.
What were D-Wave Quantum's Q1 2025 revenue and EPS?: D-Wave Quantum reported revenue of $15.0M and eps of $-0.02 for Q1 2025.
Did D-Wave Quantum beat estimates in Q1 2025?: Revenue beat the consensus estimate of $3.7M by $11.3M. EPS beat the consensus estimate of $-0.05 by $0.03.
How did D-Wave Quantum's Q1 2025 results compare year-over-year?: Compared to the same quarter a year prior, revenue grew 508.6% from $2.5M a year earlier and eps grew 83.3% from $-0.12.
Where can I find D-Wave Quantum's Q1 2025 SEC filings?: You can read the 10-Q periodic report (0001907982-25-000090) directly on SEC EDGAR. The filing index links above go to sec.gov.