What is D-Wave Quantum's R&D?

D-Wave Quantum (QBTS) reported R&D of $25.79M in Q1 2026.

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

D-Wave Quantum's R&D increased by 150.7% year-over-year, from $10.29M to $25.79M.

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

Over 4 years (2021 to 2025), D-Wave Quantum's R&D has grown at a 18.9% compound annual growth rate (CAGR), from $25.4M to $50.73M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

D-Wave Quantum QBTS R&D

R&D at other companies

International Business MachinesIBM

$2.17B+11.4%

IonQIONQ

$125.74M+215%

Alphabet Inc.GOOGL

——

Rigetti Computing, Inc.RGTI

——

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:ResearchAndDevelopmentExpense.

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 R&D?: D-Wave Quantum (QBTS) reported R&D of $25.79M in Q1 2026.
How has D-Wave Quantum's R&D changed year-over-year?: D-Wave Quantum's R&D increased by 150.7% year-over-year, from $10.29M to $25.79M.
What is the long-term trend for D-Wave Quantum's R&D?: Over 4 years (2021 to 2025), D-Wave Quantum's R&D has grown at a 18.9% compound annual growth rate (CAGR), from $25.4M to $50.73M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.