What is D-Wave Quantum's revenue?

D-Wave Quantum (QBTS) reported revenue of $2.86M in Q1 2026.

How has D-Wave Quantum's revenue changed year-over-year?

D-Wave Quantum's revenue decreased by 80.9% year-over-year, from $15M to $2.86M.

What is the long-term trend for D-Wave Quantum's revenue?

Over 4 years (2021 to 2025), D-Wave Quantum's revenue has grown at a 40.7% compound annual growth rate (CAGR), from $6.28M to $24.59M.

D-Wave Quantum QBTS Revenue

Revenue at other companies

Henry ScheinHSIC

$3.37B+6.3%

CSXCSX

$3.48B+1.7%

Ionis PharmaceuticalsIONS

$246.09M+87.0%

SBA CommunicationsSBAC

$47.29M-1.6%

Loar HoldingsLOAR

$9.7M+48.1%

Armstrong World IndustriesAWI

$382.9M+12.8%

Other financials

Income statement

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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

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Cash & equivalents$338.2M+11.1%

Total debt$46.7M+22.5%

Total equity$1.1B+442%

Total assets$1.2B+268%

Cash flow

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Operating cash flow-$45.0M-133%

CapEx$1.1M+147%

Free cash flow-$46.0M-134%

Valuation

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Market cap$9.15B+141%

Enterprise value$8.85B+159%

P/S735×+557×

Profitability

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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

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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 us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: D-Wave Quantum’s 10-Q, filed May 12, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is D-Wave Quantum's revenue?: D-Wave Quantum (QBTS) reported revenue of $2.86M in Q1 2026.
How has D-Wave Quantum's revenue changed year-over-year?: D-Wave Quantum's revenue decreased by 80.9% year-over-year, from $15M to $2.86M.
What is the long-term trend for D-Wave Quantum's revenue?: Over 4 years (2021 to 2025), D-Wave Quantum's revenue has grown at a 40.7% compound annual growth rate (CAGR), from $6.28M to $24.59M.