What is D-Wave Quantum's change in fair value of term loan?

D-Wave Quantum (QBTS) reported change in fair value of term loan of $0 in Q4 2025.

How has D-Wave Quantum's change in fair value of term loan changed year-over-year?

D-Wave Quantum's change in fair value of term loan decreased by 100.0% year-over-year, from $10K to $0.

What does change in fair value of term loan mean?

Represents the non-cash gains or losses resulting from changes in the fair value of debt instruments measured at fair value. This adjustment reflects market-driven fluctuations in the valuation of the company's debt obligations.

D-Wave Quantum QBTS Change in fair value of Term Loan

Discontinued — last reported Q4 '25

Change in fair value of Term Loan at other companies

Hut 8 Mining Corp.HUT

-$661K-158%

TG TherapeuticsTGTX

-$88K+58.7%

Hut 8 Mining Corp.HUT

-$661K-158%

VenHub Global, Inc. VHUB

$932.2K+1,414%

Hims & Hers HealthHIMS

-$17.65M—

Starwood Property TrustSTWD

-$12.67M-122%

Other financials

Income statement

See full

Revenue$2.9M-80.9%

Gross profit$1.8M-86.9%

Operating income-$54.7M-385%

Net income-$18.4M-239%

EPS (diluted)-$0.05-150%

Balance sheet

See full

Cash & equivalents$338.2M+11.1%

Total debt$46.7M+22.5%

Total equity$1.1B+442%

Total assets$1.2B+268%

Cash flow

See full

Operating cash flow-$45.0M-133%

CapEx$1.1M+147%

Free cash flow-$46.0M-134%

Valuation

See full

Market cap$9.15B+141%

Enterprise value$8.85B+159%

P/S735×+557×

Profitability

See full

Gross margin66.3%-17.0pp

Operating margin-1,155.6%-1,938pp

Net margin-2,957.2%-4,019pp

FCF margin-821%-1,451pp

Returns & leverage

See full

Return on equity-55.3%—

Debt / equity0×-0.1×

Current ratio21.4×+0.7×

Where this comes from

Reported directly by D-Wave Quantum in its filing.

Tagged under the XBRL concept qbts:FairValueAdjustmentOfDebtInstrument.

The official record: D-Wave Quantum’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is D-Wave Quantum's change in fair value of term loan?: D-Wave Quantum (QBTS) reported change in fair value of term loan of $0 in Q4 2025.
How has D-Wave Quantum's change in fair value of term loan changed year-over-year?: D-Wave Quantum's change in fair value of term loan decreased by 100.0% year-over-year, from $10K to $0.
What does change in fair value of term loan mean?: Represents the non-cash gains or losses resulting from changes in the fair value of debt instruments measured at fair value. This adjustment reflects market-driven fluctuations in the valuation of the company's debt obligations.