"D-Wave Quantum ( NASDAQ: QBTS) delivered a revenue beat this morning that sent shares up as much as 9.4% in early trading, though the stock pulled back 3.45% loss by mid-morning. The quantum computing pioneer reported Q3 revenue of $3.74M, crushing consensus estimates of $3.03M. But the real story wasn't the headline beat. It was the company's transformation from cash-strapped startup to well-capitalized growth engine."
"D-Wave's gross profit jumped 156% year over year to $2.67M, and gross margin expanded meaningfully. That's the kind of unit economics improvement investors want to see from an early-stage hardware company. Revenue itself doubled to $3.74M from $1.87M in Q3 2024, showing real demand acceleration across the quantum computing market. The catch: net losses ballooned to $140M from $22.7M a year ago. That's a 516% deterioration."
D-Wave reported Q3 revenue of $3.74M versus consensus $3.03M, with revenue doubling year over year from $1.87M in Q3 2024. Gross profit rose 156% year over year to $2.67M and gross margin expanded significantly. Reported net loss widened to $140M from $22.7M a year ago, while adjusted net loss was $18.1M and operating losses increased 34% to $27.7M. Cash reserves surged to $836M, up 2,757% year over year, and total assets reached $866M. Shareholders' equity moved from negative $16.9M to positive $671M. Bookings increased 80% sequentially to $2.4M.
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