NASDAQ:QBTS
D-Wave Quantum Inc.
D-Wave Quantum Inc.'s revenue grew 178.5% in fiscal 2025 to $24.6M while operating margin rose to −408.2%, its highest in 6 years. Free cash flow was −$75.8M, −308.5% of revenue, and the diluted share count rose 67.2%.Summary generated from D-Wave Quantum Inc.'s SEC filings. Latest annual report filed Feb 26, 2026.
Key statistics
Fiscal 2025 from SEC filings. MethodologyRevenue (FY25)$24.6M
Revenue growth+178.5%
Revenue, 5-yr CAGR+36.7%
Gross margin82.6%
Operating margin−408.2%
Net margin−1444.1%
ROIC−94.7%
Return on equity−77.6%
Debt / equity0.04
Free cash flow−$75.8M
FCF margin−308.5%
Share count change+67.2%
Financials
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | 6 | 7 | 9 | 9 | 25 |
| Operating income | −39 | −59 | −81 | −77 | −100 |
| Net income | −41 | −54 | −83 | −144 | −355 |
| Free cash flow | −37 | −46 | −61 | −45 | −76 |
Recent filings
- 8-KRegulation FD disclosure
Oct 1, 2026 - 4Insider transaction report
Sep 24, 2026 - 8-K/AAmended director or officer change
Sep 22, 2026 - 8-KDirector or officer change
Sep 21, 2026 - 8-KRegulation FD disclosure
Sep 17, 2026 - 4Insider transaction report
Sep 16, 2026 - 8-KRegulation FD disclosure
Sep 15, 2026 - 8-KOther events
Sep 10, 2026