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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 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 / equity-0.1×
Current ratio21.4×+0.7×

Where this comes from

Calculated from D-Wave Quantum’s reported figures.

Plus components not separately reported this period.

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 total debt?
D-Wave Quantum (QBTS) reported total debt of $46.68M in Q1 2026.
How has D-Wave Quantum's total debt changed year-over-year?
D-Wave Quantum's total debt increased by 22.5% year-over-year, from $38.11M to $46.68M.
What is the long-term trend for D-Wave Quantum's total debt?
Over 5 years (2020 to 2025), D-Wave Quantum's total debt has grown at a 93.2% compound annual growth rate (CAGR), from $1.61M to $43.32M.
What does total debt mean?
The total amount of money a company owes to lenders and creditors.
How do you interpret total debt?
An increase in total debt suggests higher financial leverage and increased interest expense, which may heighten insolvency risk if not matched by revenue growth. A decrease indicates deleveraging, potentially improving the balance sheet's health and reducing interest burden.
How does total debt compare across companies?
In capital-intensive industries like quantum computing, total debt levels are compared against cash reserves and equity to assess solvency, often benchmarked against debt-to-equity or net debt-to-EBITDA ratios of peer technology firms.