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D-Wave Quantum QBTS Operating Income

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Other financials

Income statement

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Revenue$3.1M-0.6%
Gross profit$1.7M-13.8%
Net income-$48.0M+71.3%
EPS (diluted)-$0.13+76.4%

Balance sheet

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Cash & equivalents$296.6M-63.8%
Total debt$48.0M+20.0%
Total equity$1.1B+56.0%
Total assets$1.2B+37.3%

Cash flow

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Operating cash flow-$28.5M-86.5%
CapEx$4.4M+493%
Free cash flow-$32.9M-105%

Valuation

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Market cap$7.92B+44.2%
Enterprise value$7.68B+62.8%
P/S637.7×+391×

Profitability

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Gross margin64.2%-18.3pp
Operating margin-1,372.9%-2,100pp
Net margin-2,001.6%+2,806pp
FCF margin-958.4%-1,451pp

Returns & leverage

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Return on equity-28%
Debt / equity0.0×
Current ratio20.5×-22.4×

Where this comes from

Reported directly by D-Wave Quantum in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: D-Wave Quantum’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 4:19 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001907982-26-000129
(In thousands, except share and per share data)Three Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
General and administrative15,3889,15135,66317,108
Sales and marketing11,3556,63321,83213,556
Total operating expenses54,98228,478111,52753,646
Loss from operations(53,278)(26,502)(108,005)(37,793)
Other income (expense), net:
Interest income5,0284,31110,8137,410
Interest expense(255)(206)(514)(432)
Gain on investment in marketable securities, net1,880

Item 1. D-Wave Quantum Inc. Financial Statements (Unaudited)

FAQ

What is D-Wave Quantum's operating income?
D-Wave Quantum (QBTS) reported operating income of -$53.28M in Q2 2026.
How has D-Wave Quantum's operating income changed year-over-year?
D-Wave Quantum's operating income decreased by 101.0% year-over-year, from -$26.5M to -$53.28M.
What is the long-term trend for D-Wave Quantum's operating income?
Over 4 years (2021 to 2025), D-Wave Quantum's operating income has grown at a 26.7% compound annual growth rate (CAGR), from -$38.95M to -$100.37M.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

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