D-Wave Quantum Financial Statements
NASDAQ: QBTSTechnologyEDP ServicesUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
D-Wave Quantum revenue and earnings
In fiscal 2025, D-Wave Quantum generated $24.6 million in revenue, up 178.5% from fiscal 2024, its 5th consecutive year of revenue growth. D-Wave Quantum reported a net loss of $355.1 million, compared with a loss of $143.9 million a year earlier. Gross margin was 82.6% (up from 63.0%) and operating margin -408.2%.
Diluted earnings per share came in at -$1.11. Over the last 5 fiscal years, QBTS's revenue has grown at a 36.7% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
D-Wave Quantum income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 |
|---|---|---|---|---|---|---|
| Revenue | 24.59M | 8.83M | 8.76M | 7.17M | 6.28M | 5.16M |
| Revenue growth (YoY) | +178.54% | +0.79% | +22.10% | +14.24% | +21.69% | — |
| Cost of Revenue | 4.28M | 3.26M | 4.14M | 2.92M | 1.75M | 915.00K |
| Gross Profit | 20.31M | 5.56M | 4.62M | 4.25M | 4.53M | 4.25M |
| Operating Expenses | 120.67M | 82.79M | 85.17M | 63.71M | 43.48M | 35.71M |
| Research & Development | 50.73M | 35.30M | 37.88M | 32.10M | 25.40M | 20.41M |
| Selling, General & Admin | 69.94M | 47.49M | 47.29M | 31.61M | 18.08M | 15.30M |
| Operating Income | -100.37M | -77.22M | -80.55M | -59.46M | -38.95M | -31.47M |
| Interest Expense | 4.01M | 3.90M | — | 4.63M | 1.73M | 5.26M |
| Other Income (Expense) | -254.69M | -66.66M | -2.17M | 5.76M | -2.02M | 9.50M |
| Pretax Income | -355.06M | -143.88M | -82.72M | -53.70M | -40.97M | -21.97M |
| Income Tax | 0 | — | — | — | — | — |
| Net Income | -355.06M | -143.88M | -82.72M | -53.70M | -40.97M | -21.97M |
| Net Income growth (YoY) | — | — | — | — | — | — |
| EPS (Basic) | -1.11 | -0.75 | -0.60 | -0.45 | -0.33 | -0.17 |
| EPS (Diluted) | -1.11 | -0.75 | -0.60 | -0.45 | -0.33 | -0.17 |
| Shares Outstanding (Basic) | 321.20M | 192.13M | 137.99M | 119.65M | 125.34M | 127.16M |
| Shares Outstanding (Diluted) | 321.20M | 192.13M | 137.99M | 119.65M | 125.34M | 127.16M |
| EBITDA | -98.81M | -76.11M | -79.49M | -58.03M | -37.41M | -29.58M |
| Gross Margin | 82.59% | 63.02% | 52.77% | 59.25% | 72.13% | 82.27% |
| Operating Margin | -408.22% | -874.85% | -919.68% | -828.91% | -620.29% | -609.83% |
| Net Margin | -1444.10% | -1629.99% | -944.45% | -748.67% | -652.54% | -425.72% |
This table shows 6 annual periods of D-Wave Quantum's income statement, from FY 2025 back to FY 2020, across 20 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow QBTS's reporting calendar. What is a income statement?