실시간 뉴스 • Aug 19
D-Wave Technology Powers Broader Network Optimization in Second NTT DOCOMO Deployment D-Wave Quantum and NTT DOCOMO have put a second D-Wave powered quantum application into production, targeting mobile network operations and achieving a 65.3% reduction in peak location registration signals and a 7.0% reduction in paging signals.
The new deployment broadens DOCOMO’s use of D-Wave technology to a larger network optimization problem that balances location registration and paging across multiple tracking areas, which points to real-world operational use rather than just pilot testing.
D-Wave Quantum shares trade at US$19.53, with the stock down 30.6% year to date, so this additional production use-case arrives against a backdrop of weaker recent share price performance.
This second live deployment at a major carrier shows that D-Wave Quantum’s offering is being used on concrete, scaled problems, but investors still need to judge whether this traction can translate into a durable and profitable customer base. 공고 • Aug 18
D-Wave Quantum Inc. Announces Appointment of Kevan P. Krysler as an Independent Class I Director to Board of Directors and Audit Committee, Effective as of August 13, 2026 D-Wave Quantum Inc. appointed Kevan P. Krysler as an independent Class I director, effective as of August 13, 2026, to hold office until the Company's 2029 Annual Meeting of Stockholders or until his successor is duly elected and qualified. Mr. Krysler will serve on the Audit Committee of the Board and will be compensated on the same basis as all other non-employee directors of the Company. Mr. Krysler, 55, has served as Chief Financial Officer of Carbon Robotics, a privately held company specializing in physical AI and robotics for agriculture, since February 2026. He brings extensive financial leadership and corporate governance experience across both public and private technology companies, with expertise in public company reporting, global financial operations, corporate growth strategy, and risk management. Prior to joining Carbon Robotics, he served as Chief Financial Officer of Everpure Inc., a publicly traded enterprise data storage company, from November 2019 to June 2025. Earlier in his career, Mr. Krysler was Senior Vice President of Finance and Chief Accounting Officer at VMware Inc., and spent 18 years at KPMG LLP, including nine years as a partner in the firm's Silicon Valley technology practice, where he advised high-growth technology and software companies, including public multinationals and private pre-IPO businesses. Mr. Krysler holds a bachelor's degree from the University of Oklahoma. 실시간 뉴스 • Aug 17
D-Wave Quantum Names Kevan P. Krysler to Board and Audit Committee D-Wave Quantum has appointed Kevan P. Krysler, a veteran technology finance executive with public company financial leadership and governance experience, to its Board of Directors and Audit Committee.
The company highlights Krysler’s background as support for its growth and strategic objectives as it advances its dual-platform quantum computing technology and commercial efforts, pointing to a focus on financial oversight during its scaling phase.
D-Wave Quantum shares trade at US$21.17, with the stock up 26.5% over the past 30 days.
A seasoned finance leader on the board and audit committee can tighten financial controls and governance at D-Wave Quantum, which matters for a company working to build a commercial track record in a complex field like quantum computing. The main investor question is how effectively this added expertise will translate into disciplined capital allocation and clearer financial reporting. 실시간 뉴스 • Aug 13
D-Wave Quantum Secures Canadian Government Funding to Advance Annealing Quantum Computing Software D-Wave Quantum has been awarded up to C$300,000 in funding from the National Research Council of Canada’s Applied Quantum Computing Challenge program to advance annealing quantum computing software for commercial applications.
The project focuses on next-generation software and algorithms for D-Wave’s Advantage2 annealing quantum computers, targeting larger and more complex optimization problems in areas such as logistics, manufacturing, scheduling and machine learning.
D-Wave Quantum’s shares trade at $20.74, with the stock down 26.3% year to date, which frames this non-dilutive government funding as support arriving after a weaker share price period.
This Canadian government backing provides D-Wave Quantum with external validation of its annealing approach and adds non-dilutive capital to pursue commercial use cases. The investor question is how effectively the company can translate advances in algorithms and problem scale into paying customers in areas like logistics and manufacturing. 공고 • Aug 13
D-Wave Quantum Inc Awards CAD 300,000 Funding From National Research Council Of Canada D-Wave Quantum Inc. had been awarded up to CAD 300,000 in funding from the National Research Council of Canada's Applied Quantum Computing Challenge program to advance annealing quantum computing software for commercial applications. In collaboration with the National Research Council of Canada, D-Wave’s team located at its Quantum Centre of Engineering Excellence in Burnaby, British Columbia, will develop next-generation software and algorithms to help organizations solve larger, more complex optimization problems on D-Wave’s Advantage2 annealing quantum computers. The project will create new graph minor-embedding algorithms for D-Wave's Zephyr topology and integrate them into the Company’s open-source Ocean software development kit. These algorithms perform the foundational process of mapping optimization problems to D-Wave’s Advantage2 system’s topology and are expected to expand the scale and complexity of computations that D-Wave's Advantage2 systems can address across use cases including logistics, manufacturing, scheduling, resource allocation, machine learning, and quantum and materials simulation. The Applied Quantum Computing Challenge program brings together government, industry and academia to accelerate the commercialization of quantum technologies and strengthen Canada's leadership in applied quantum computing. Reported Earnings • Aug 07
Second quarter 2026 earnings: EPS and revenues miss analyst expectations Second quarter 2026 results: US$0.13 loss per share (improved from US$0.55 loss in 2Q 2025). Revenue: US$3.08m (flat on 2Q 2025). Net loss: US$48.0m (loss narrowed 71% from 2Q 2025). Revenue missed analyst estimates by 24%. Earnings per share (EPS) also missed analyst estimates by 24%. Revenue is forecast to grow 49% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 143% per year, which means it is well ahead of earnings. 실시간 뉴스 • Aug 07
D-Wave Quantum Publishes High-Fidelity Two-Qubit Gate Result in Major Error Correction Advance D-Wave Quantum published research in Nature on a two-qubit entangling gate within its dual-rail erasure qubit architecture, reporting about 99.9% fidelity and operation times around 500 nanoseconds while keeping hardware-level error detection.
The company says this gate design reduces hardware overhead for fault-tolerant gate-model quantum computing and supports its roadmap for more efficient quantum error correction, targeting more practical, scalable quantum systems.
D-Wave Quantum shares trade at US$19.41, with the stock down 31.0% year to date.
This kind of technical result matters because fault-tolerant computing is a core hurdle for commercial quantum systems. If D-Wave can translate lab performance into stable hardware and services, it may strengthen its position in quantum error correction. The risk is that the work remains confined to research or faces long timelines and high capital needs before it influences revenue. 공고 • Aug 06
D-Wave Quantum Inc Demonstrates Major Hardware Breakthrough For Quantum Error Correction Advancing The Path To Practical Fault-Tolerant Gate-Model Quantum Computing D-Wave Quantum Inc. announced a major research breakthrough advancing the path to practical, fault-tolerant gate-model quantum computing. Published in the peer-reviewed scientific journal Nature, the research demonstrates a fast, high-fidelity, two-qubit entangling gate that preserves the error-correction advantages of D-Wave’s superconducting dual-rail qubit architecture. The results address one of the industry’s most consequential challenges by reducing the immense quantum and classical hardware overhead typically required to detect and correct quantum errors as systems scale. D-Wave's dual-rail gate-model quantum processor is built on a dual-rail architecture designed to detect quantum errors at the hardware level. This built-in error detection makes quantum error correction more efficient, supporting a practical path to scalable, fault-tolerant quantum computing. The paper, “An entangling gate for dual-rail erasure qubits,” details a new two-qubit entangling gate, a fundamental building block of quantum computation, designed to support efficient quantum error correction. The research demonstrates approximately 99.9% fidelity during two-qubit operations, with fast gate times of about 500 nanoseconds, enabled by native hardware-level error detection. Leveraging these results, D-Wave simulations indicate its dual-rail architecture could reduce the logical error rate by as much as a factor of 10 for each increment in error correction, significantly reducing the physical qubit overhead required for fault-tolerant quantum computing. Quantum information is inherently fragile and highly susceptible to errors, making efficient quantum error correction essential for the development of reliable, fault-tolerant gate-model quantum computers. In many gate-model architectures, correcting those errors requires large numbers of additional physical qubits and operations, creating substantial engineering complexity, cost, and performance constraints. D-Wave’s dual-rail architecture is designed to create a favorable error hierarchy in which the most common quantum errors are also the easiest to correct. The newly published research demonstrates that this favorable error hierarchy is preserved during two-qubit operations, with the technology maintaining both speed and high fidelity. The results establish an important foundation for scalable quantum error correction with substantially lower hardware overhead. The entangling gate demonstrated through this research is already integrated into D-Wave's gate-model systems, where it is delivering comparable performance. The research supports D-Wave’s recently announced gate-model development roadmap, which targets a 2032 completion of a 100-logical-qubit system capable of successfully performing more than 1 million operations. The roadmap brings together D-Wave’s superconducting dual-rail architecture and integrated cryogenic control technology to enable more efficient error detection and awareness as systems scale. D-Wave’s roadmap is targeting an error reduction rate, or Lambda, of 10. Lambda is a measure of how rapidly a quantum computer’s errors are reduced as more error-correction capability is added. A Lambda of 10 means the system becomes 10 times more reliable with each increment in error correction, making it possible to achieve low logical error rates required for fault-tolerant quantum computing with far fewer physical qubits. The research further advances D-Wave’s dual-platform strategy of developing complementary annealing and gate-model quantum computing technologies to address the full range of computationally complex problems. 실시간 뉴스 • Aug 04
D-Wave Quantum Begins Quantum-Hybrid Project With Nasdaq Verafin for Financial Fraud Detection D-Wave Quantum has entered a strategic agreement with Nasdaq Verafin to use its quantum-hybrid computing, including annealing technology, in a proof-of-concept project aimed at detecting financial fraud, scams and money laundering by spotting unusual transactional behaviour.
The partnership gives D-Wave Quantum a real-world financial security use case, with Verafin looking to apply quantum-enabled analytics to improve the accuracy and effectiveness of financial crime detection models that work on complex transaction data.
D-Wave Quantum shares trade at US$19.98, with the stock down 29.0% year to date. Commercial traction in a new vertical such as financial crime detection may influence how investors view the company’s progress from research-focused projects toward applied enterprise workloads.
The key question for investors is whether this proof-of-concept with Nasdaq Verafin can scale into repeatable commercial deployments that justify ongoing investment in D-Wave Quantum’s technology stack. 실시간 뉴스 • Jul 27
AT&T Expands D-Wave Quantum Collaboration to Optimize Network With Quantum Computing AT&T has expanded its partnership with D-Wave Quantum to deploy more of D-Wave’s annealing quantum computing across AT&T’s network operations, targeting complex optimization tasks such as outage detection and management while integrating with existing AI tools.
The collaboration also includes AT&T exploring D-Wave’s planned gate-model quantum systems for potential future uses in quantum security and communication, signaling interest in both current and pipeline technologies.
D-Wave Quantum’s stock trades at US$16.21, with the share price down 42.4% year to date.
This expanded AT&T engagement gives D-Wave Quantum a clearer real-world use case in telecom network optimization and a reference customer for both its current annealing systems and its under-development gate-model offering. At the same time, the share price performance highlights execution and adoption risk that readers may consider alongside the company’s commercial progress. 공고 • Jul 24
D-Wave Quantum Inc. to Report Q2, 2026 Results on Aug 06, 2026 D-Wave Quantum Inc. announced that they will report Q2, 2026 results Pre-Market on Aug 06, 2026 실시간 뉴스 • Jul 14
D-Wave Quantum to Begin Trading on Nasdaq as Exchange Transfer Set for July 2026 D-Wave Quantum plans to transfer its common stock listing from the New York Stock Exchange to the Nasdaq, with trading on Nasdaq expected to begin on July 27, 2026, under the existing ticker QBTS, after the NYSE listing ends following market close on July 24, 2026.
The company has met all Nasdaq listing requirements and expects trading in D-Wave Quantum shares to continue without disruption through the transition, which may place the stock alongside a larger group of technology-focused peers.
D-Wave Quantum shares trade at $18.66, with the stock down 33.7% year to date, reflecting recent pressure on quantum computing stocks more broadly.
Moving to Nasdaq can matter for D-Wave Quantum because it may improve visibility with technology-focused investors and index products, while the recent share price decline highlights the sensitivity of the stock to shifts in sentiment around higher-risk growth stories. 실시간 뉴스 • Jul 01
D-Wave Quantum Wins $100 Million CHIPS Act Funding and Roadmap Support From US Government D-Wave Quantum secured a Letter of Intent with the U.S. Department of Commerce for up to US$100 million in CHIPS and Science Act funding to advance its superconducting annealing systems and a gate-model roadmap that targets 100 logical qubits by 2032.
The company also received a US$1.5 million National Science Foundation grant via the National Quantum Virtual Laboratory to support the Yale-led ERASE project, providing access to its superconducting dual-rail gate-model hardware.
D-Wave Quantum shares trade at US$23.50, with the stock up 64.1% over the past 90 days, following recent analyst target increases and a 12.1% single-session move highlighted in the news flow.
Together with new executive orders that direct US$2 billion of federal quantum and cybersecurity funding, this period of government support and policy focus ties D-Wave Quantum more closely to U.S. research and procurement, while investors still have to weigh cash burn, insider selling and commercialization risks. 실시간 뉴스 • Jun 24
D-Wave Quantum Acquires Quantum Circuits and Wins Major US Contracts on Fresh Federal Backing D-Wave Quantum is acquiring Quantum Circuits, Inc., extending its technology into gate-model quantum computing alongside its existing annealing systems, while also securing a $20 million system sale to Florida Atlantic University and a $10 million multi-year services contract with a Fortune 100 company.
The company is set to benefit from two new U.S. executive orders signed on 22 June 2026 that channel $2b in federal support toward quantum and mandate federal adoption of quantum technologies, complementing an earlier $100 million U.S. CHIPS and Science Act grant to D-Wave.
D-Wave Quantum shares trade at $25.03, with the stock up 54.6% over the past 90 days, reflecting strong recent momentum despite shorter-term volatility.
Taken together, the acquisition, large contracts and new U.S. policy support concentrate execution risk on D-Wave’s ability to turn booked demand and dual-platform R&D into durable commercial usage and manageable cash burn. New Risk • Jun 17
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$7.7m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (18% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$166m net loss in 3 years). Shareholders have been diluted in the past year (19% increase in shares outstanding). Significant insider selling over the past 3 months (US$7.7m sold). Recent Insider Transactions • Jun 17
Executive VP & CFO recently sold US$6.2m worth of stock On the 15th of June, John Markovich sold around 246k shares on-market at roughly US$25.40 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. John has been a net seller over the last 12 months, reducing personal holdings by US$13m. 실시간 뉴스 • Jun 17
D-Wave Quantum Stock Jumps on Gate-Model Roadmap Strong Bookings and US Government Funding D-Wave Quantum outlined a gate-model roadmap that targets 100 logical qubits capable of more than 1 million operations by 2032, supported by a proposed US$100 million commitment under the U.S. CHIPS and Science Act and framed within a dual-platform strategy covering both annealing and gate-model systems.
The company reported record Q1 2026 bookings of US$33.4 million, including a US$20 million system sale to Florida Atlantic University and a US$10 million two-year quantum computing-as-a-service deal with a Fortune 100 customer, while revenue for the quarter was US$2.9 million and operating losses widened.
In January 2026 D-Wave acquired Quantum Circuits Inc. for US$550 million to add superconducting gate-model capabilities, and later secured a Letter of Intent with the U.S. Department of Commerce for up to US$100 million in funding. The stock has seen volatility around events such as Quantinuum’s large IPO and sector-wide risk-on trading days.
The picture that emerges is of D-Wave Quantum leaning heavily into a long-term technology roadmap and dual-platform positioning, with strong bookings growth and government interest but a financial profile that still relies on external capital and carries execution risk on both integration and technical milestones.
Investors may want to weigh the large addressable market estimates and analyst enthusiasm against the company’s widening losses, the gap between bookings and recognized revenue, insider share sales, and the potential impact of increasing competition from better-capitalized quantum computing peers. Recent Insider Transactions Derivative • Jun 11
President exercised options and sold US$17m worth of stock On the 8th of June, Alan Baratz exercised 688k options at a strike price of around US$0.85 and sold these shares for an average price of US$26.09 per share. This trade did not impact their existing holding. For the year to December 2021, Alan's total compensation was 11% salary and 89% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since September 2025, Alan's direct individual holding has increased from 1.64m shares to 3.30m. Company insiders have collectively sold US$108m more than they bought, via options and on-market transactions in the last 12 months. 실시간 뉴스 • Jun 10
D-Wave Quantum Secures Proposed US$100 Million Government Investment and Reveals Quantum Computing Roadmap D-Wave Quantum signed a Letter of Intent with the U.S. Department of Commerce for a proposed US$100 million equity investment under the CHIPS and Science Act as part of a US$2b federal quantum initiative.
In return for the funding, D-Wave plans to issue US$100 million in common stock, giving the Department of Commerce a minority equity stake and supporting expansion of its superconducting quantum systems and R&D footprint in Florida, Connecticut and Canada.
The company outlined a gate-model roadmap targeting 100 logical qubits capable of over 1 million operations by 2032, with interim goals that include a 17-physical-qubit system by 2026 and a 10-logical-qubit system by 2030 focused on fault-tolerant algorithms.
This combination of proposed government backing and a detailed technical roadmap reinforces D-Wave’s push to build both annealing and gate-model platforms for commercial quantum computing use cases such as chemistry, AI and logistics.
Investors should weigh the potential benefits of federal support and a clearer technology path against execution risk, insider stock sales and ongoing debates around the company’s quantum performance claims. 공고 • Jun 09
D-Wave Quantum Inc. Announces Board and Committee Changes, Effective June 4, 2026 D-Wave Quantum Inc. announced on June 4, 2026, the Board elected Sharon Holt to replace Steven M. West as Chair of the Board, designated Rohit Ghai to replace John D. DiLullo as chair of the Board’s Compensation Committee, appointed Steven M. West to replace John D. DiLullo as a member of the Compensation Committee, appointed John D. DiLullo to replace Sharon Holt as a member of the Board’s Cybersecurity Committee, and appointed Steven M. West to replace Rohit Ghai as a member of the Board’s Nominating and Governance Committee, all effective June 4, 2026 after the Annual Meeting. 실시간 뉴스 • Jun 03
D-Wave Quantum Secures US$100 Million Federal Investment and Reveals Long-Term Quantum Roadmap The U.S. Department of Commerce signed a Letter of Intent to provide D-Wave Quantum with US$100 million in proposed CHIPS and Science Act funding as part of a wider US$2.01 billion federal quantum computing initiative involving nine companies. In return for the proposed funding, D-Wave plans to issue US$100 million in common stock to the U.S. government, giving the government a minority equity stake in the company.
D-Wave outlined a gate-model quantum computing roadmap aiming for commercial, fault-tolerant systems with 100 logical qubits capable of over one million operations by 2032. The roadmap includes intermediate milestones such as a 17-physical-qubit system by 2026 and a 10-logical-qubit system by 2030.
This combination of federal backing and a detailed technical roadmap indicates that D-Wave is aligning its hardware development and cloud-focused software efforts with long-term national priorities in quantum computing.
Investors may wish to consider the potential benefits of government funding and technology progress, while also evaluating dilution from new stock issuance and execution risk on multi-year R&D targets. 공고 • Jun 02
D-Wave Quantum Announces New Gate-Model Roadmap Targeting 100 Logical Qubits Capable of Performing over One Million Operations by 2032 D-Wave Quantum announced a new gate-model roadmap designed to accelerate the development of commercial, fault-tolerant quantum computing. Targeting 100 logical qubits capable of successfully performing over one million operations by 2032, the roadmap combines D-Wave’s expertise in high-coherence dual-rail qubits and quantum error correction, with its proven ability to engineer, scale and commercialize superconducting quantum systems. D-Wave believes the future of commercial gate-model quantum computing will be defined not by raw physical qubit counts alone, but by the ability to reliably execute large-scale computations for real-world applications. While much of the industry focuses on scaling physical qubits, D-Wave is pursuing a differentiated approach centered on reducing errors at the hardware level. Its dual-rail qubit architecture embeds error detection directly into the qubits, making errors detectable during computation at the single-qubit level. In contrast to many other gate-model hardware modalities that cannot detect qubit errors, D-Wave’s dual-rail qubits are designed to identify approximately 90% of errors as they occur to dramatically lower the number of physical qubits required to perform error correction. D-Wave has also demonstrated, with error detection, 99.9% two-qubit fidelities, meaning physical errors occur only about once in every 1,000 operations. The roadmap outlines a progression of technical milestones designed to improve qubit fidelity, advance large-scale computations and support the development of commercially useful quantum applications. Key roadmap milestones include: Delivery of a 17-physical-qubit system that supports logical error rates 2 times lower than physical error rates in 2026; Completion of a 49-physical-qubit system that can deliver an expected 20-fold error reduction factor over the physical error rate in 2027; Completion of a 181-physical-qubit system that can deliver an expected 2,000-fold error reduction factor over the physical error rate, representing the scalable blueprint for fault-tolerant architectures in 2028; Completion of a 10-logical-qubit system that can support the first fault tolerant algorithms in 2030; Completion of a 100-logical-qubit system capable of successfully performing more than one million operations that can support initial quantum chemistry and quantum AI applications in 2032. D-Wave’s roadmap is built on superconducting technology, which can run quantum error correction cycles 100 to 1000 times faster than neutral atom or trapped ion systems. The Company views Lambda as a key metric that should be used to measure progress toward fault-tolerant quantum computing. Lambda is a measure of how rapidly a quantum computer’s errors are reduced as more error-correction capability is added. The broader quantum computing industry has demonstrated Lambda values around 2, meaning each increment in error correction reduces errors by about half. D-Wave’s roadmap is targeting a Lambda of 10, a major leap the Company expects will reduce errors far more quickly, by a factor of 10 for each increment in error correction, making it possible to achieve fault-tolerant quantum computing with significantly fewer physical qubits. Combined with D-Wave’s proprietary on-chip cryogenic control technology, proven superconducting systems expertise and production-ready quantum cloud infrastructure, the Company believes its dual-rail gate-model roadmap presents a fast, efficient, and achievable path to commercial gate-model quantum computing. With more than 15 years of experience designing and building superconducting quantum computing systems, D-Wave has successfully delivered six generations of annealing quantum computers, culminating in its award winning Advantage2 system. As the only provider of annealing and gate-model technologies, D-Wave is uniquely positioned to participate in the full addressable quantum computing market. 공고 • May 27
D-Wave Receives Year 2 Microelectronics Commons Project Funding to Advance Superconducting Quantum Innovation by the U.S. Department of War D-Wave Quantum Inc. announced that it has been awarded second year funding for the Improved Materials for Superconducting Qubits with Scalable Fabrication (SQFab) project by the Northeast Regional Defense Technology Hub (NORDTECH). Awarded to D-Wave subsidiary Quantum Circuits, LLC, the SQFab project is one of four innovative programs selected by the U.S. Department of War (DOW) through NORDTECH, a regional consortium of non-pro?t accessible semiconductor R&D facilities, government labs, defense companies, academic institutions, and technology manufacturing organizations in and around New York State. NORDTECH is one of eight hubs composing the U.S. Microelectronics Commons (MEC) program, which is a DOW initiative executed through the Naval Surface Warfare Center Crane Division and managed by the National Security Technology Accelerator (NSTXL). The four programs are collectively receiving more than $25 million in second year funding after achieving key ?rst-year benchmarks by demonstrating signi?cant results in the design, fabrication, and characterization of key quantum computing components. D-Wave’s project aims to improve materials for superconducting qubits with scalable fabrication methods, supporting the development and advancement of next-generation microelectronics capabilities from research to manufacturing. The Microelectronics Commons seeks to accelerate domestic microelectronics prototyping, strengthen semiconductor supply chains, and expand U.S. leadership in critical technologies. By bringing together industry, academia, and government partners, the program helps to bridge the gap between early-stage innovation and domestic manufacturing. The initiative plays a critical role in addressing supply chain vulnerabilities while fostering a robust semiconductor workforce and innovation pipeline. The SQFab mission is to co-develop technologies necessary to demonstrate scalable quantum error correction, using new materials, innovative quantum circuits and qubit control schemes. 공고 • May 23
D-Wave Quantum Inc. announced that it expects to receive $100 million in funding from United States Department of Commerce D-Wave Quantum Inc. announced that it has entered into a letter of intent with new investor, United States Department of Commerce to issue common shares for gross proceeds of $100,000,000 on May 21, 2026. New Risk • May 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$166m net loss in 3 years). Shareholders have been diluted in the past year (27% increase in shares outstanding). Reported Earnings • May 13
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: US$0.05 loss per share (further deteriorated from US$0.019 loss in 1Q 2025). Revenue: US$2.86m (down 81% from 1Q 2025). Net loss: US$18.4m (loss widened 239% from 1Q 2025). Revenue missed analyst estimates by 31%. Earnings per share (EPS) exceeded analyst estimates by 48%. Revenue is forecast to grow 45% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 237% per year, which means it is well ahead of earnings. 공고 • Apr 26
D-Wave Quantum Inc., Annual General Meeting, Jun 04, 2026 D-Wave Quantum Inc., Annual General Meeting, Jun 04, 2026. 공고 • Apr 23
D-Wave Quantum Inc. to Report Q1, 2026 Results on May 12, 2026 D-Wave Quantum Inc. announced that they will report Q1, 2026 results Pre-Market on May 12, 2026 Recent Insider Transactions Derivative • Mar 19
Independent Director notifies of intention to sell stock Rohit Ghai intends to sell 24k shares in the next 90 days after lodging an Intent To Sell Form on the 16th of March. If the sale is conducted around the recent share price of US$17.55, it would amount to US$413k. Since June 2025, Rohit's direct individual holding has decreased from 43.52k shares to 23.52k. Company insiders have collectively sold US$110m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Mar 17
Independent Director notifies of intention to sell stock Rohit Ghai intends to sell 24k shares in the next 90 days after lodging an Intent To Sell Form on the 16th of March. If the sale is conducted around the recent share price of US$17.55, it would amount to US$413k. Since June 2025, Rohit's direct individual holding has decreased from 43.52k shares to 23.52k. Company insiders have collectively sold US$110m more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • Mar 05
Consensus EPS estimates fall by 57%, revenue upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from US$43.0m to US$43.9m. Forecast EPS reduced from -US$0.251 to -US$0.394 per share. Software industry in the US expected to see average net income growth of 23% next year. Consensus price target down from US$39.17 to US$37.61. Share price fell 3.8% to US$18.91 over the past week. Reported Earnings • Feb 27
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: US$1.11 loss per share (further deteriorated from US$0.75 loss in FY 2024). Revenue: US$24.6m (up 179% from FY 2024). Net loss: US$355.1m (loss widened 147% from FY 2024). Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) also missed analyst estimates by 6.7%. Revenue is forecast to grow 42% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 188% per year, which means it is well ahead of earnings. 공고 • Feb 12
D-Wave Quantum Inc. to Report Q4, 2025 Results on Feb 26, 2026 D-Wave Quantum Inc. announced that they will report Q4, 2025 results Pre-Market on Feb 26, 2026 공고 • Jan 27
D-Wave Quantum Inc. Announces Key Product and Technology Milestones D-Wave Quantum Inc. announced key product and technology milestones that underscore accelerating customer adoption and progress. At Qubits 2026, D-Wave’s annual user conference today, the Company will introduce new hybrid solver capabilities that enable customers to incorporate machine learning models directly into quantum optimization workflows, as well as new tools that give quantum scientists deeper visibility into quantum dynamics using annealing quantum computers. In addition, the Company will share details on its accelerated gate-model development roadmap, including progress enabled by the recent acquisition of Quantum Circuits Inc., a breakthrough demonstration of scalable on-chip cryogenic control of qubits, and plans to bring an initial gate-model system to market in 2026. These development efforts and updates focus on scalability, enabling customers to tackle increasingly large and complex problems with greater efficiency and performance. Customer usage of D-Wave’s award-winning Advantage2 annealing quantum computers increased by 314% over the last year, while usage of the Company’s Stride™ hybrid solver, formerly known as the nonlinear program solver, increased by 114% in the last six months. D-Wave has introduced several annealing quantum computing product enhancements recently, including: Hybrid Solver Software Supports Integrated Machine Learning Models: D-Wave’s Stride hybrid solver combines the strengths of annealing quantum computing and classical computing to help customers address problems that classical-only methods may not be able to effectively or efficiently solve. The Stride hybrid solver now allows for surrogate modeling, enabling customers to incorporate machine learning models directly into optimization workflows to support a wider range of use cases within domains such as predictive maintenance, surge pricing, advertising campaign optimization, and employee scheduling. Learn more about the Stride hybrid solver here. Multicolor Annealing and Fast-Reverse Anneal: These new capabilities, which are now available to select customers, provide more precise qubit control to help scientists accelerate experimentation and discovery. Fast-reverse anneal allows the annealing quantum computer to move back and forth through the annealing process while maintaining coherence where quantum effects are strongest. This repeatable control allows researchers to study how quantum states evolve and transition, deepening understanding of complex quantum behavior. Multicolor annealing, a set of processor controls that enable operations such as controlled excitation and mid-anneal projection, give researchers the ability to generate dynamical quantum states, probe quantum phenomena at a deeper level, and prototype new algorithms. In addition to advancements with its annealing quantum computing technology, D-Wave is accelerating development of its gate-model quantum computing platform. Through the recent acquisition of Quantum Circuits Inc. as well as its own breakthrough development work, D-Wave is uniquely positioned as the only company with all three core technologies required to deliver scaled, error-corrected superconducting gate-model systems: High-fidelity, error-detecting dual-rail qubits for efficient error correction with up to an order of magnitude fewer physical qubits per logical qubit Local cryogenic control and multi-chip superconducting packaging for scaling systems with orders of magnitude fewer I/O control lines, as detailed in a new white paper here. Robust cryogenic platforms with demonstrated uptimes of years for commercial-grade operations. Together, these capabilities support D-Wave’s plans to bring an initial gate-model quantum computing system to market in 2026, reinforcing the company’s dual-platform strategy and long-term vision for practical, scalable quantum computing. 공고 • Jan 21
D-Wave Quantum Inc. (NYSE:QBTS) completed the acquisition of Quantum Circuits, Inc. D-Wave Quantum Inc. (NYSE:QBTS) entered into an Agreement to acquire Quantum Circuits, Inc. for $550 million on January 6, 2026. A consideration consists of a number of the D-Wave Quantum’s common stock, par value $0.0001 per share with a value $300 million, plus $250 million in cash, subject to a net debt adjustment.
The acquisition is subject to certain closing conditions set forth in the merger agreement, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the approval of listing of the shares of D-Wave common stock being issued as consideration on the NYSE. Closing is expected to occur in late January 2026.
Centerview Partners LLC acted as financial advisor for D-Wave Quantum Inc. Adam Givertz and Stan Richards of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor for D-Wave Quantum Inc. Needham & Company, LLC acted as financial advisor and Jeffrey Lehrer and Scott Cowan of DLA Piper LLP acted as legal advisor for Quantum Circuits, Inc.
D-Wave Quantum Inc. (NYSE:QBTS) completed the acquisition of Quantum Circuits, Inc. on January 20, 2026. Recent Insider Transactions • Jan 16
President recently sold US$983k worth of stock On the 14th of January, Alan Baratz sold around 35k shares on-market at roughly US$28.06 per share. This transaction amounted to 1.8% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$3.9m. Alan has been a net seller over the last 12 months, reducing personal holdings by US$6.3m. Recent Insider Transactions Derivative • Jan 15
President notifies of intention to sell stock Alan Baratz intends to sell 35k shares in the next 90 days after lodging an Intent To Sell Form on the 14th of January. If the sale is conducted around the recent share price of US$28.06, it would amount to US$983k. For the year to December 2021, Alan's total compensation was 33% salary and 67% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Alan's direct individual holding has decreased from 5.12m shares to 1.90m. Company insiders have collectively sold US$108m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Dec 26
President exercised options and sold US$23m worth of stock On the 22nd of December, Alan Baratz exercised 794k options at a strike price of around US$0.91 and sold these shares for an average price of US$30.13 per share. This trade did not impact their existing holding. For the year to December 2021, Alan's total compensation was 33% salary and 67% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Alan's direct individual holding has decreased from 5.12m shares to 1.90m. Company insiders have collectively sold US$108m more than they bought, via options and on-market transactions in the last 12 months. Buy Or Sell Opportunity • Dec 19
Now 27% overvalued The stock has been flat over the last 90 days, currently trading at US$26.82. The fair value is estimated to be US$21.04, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 46% over the last 3 years. Earnings per share has declined by 28%. For the next 3 years, revenue is forecast to grow by 47% per annum. Earnings are also forecast to grow by 33% per annum over the same time period. Recent Insider Transactions Derivative • Dec 08
Chief Financial Officer exercised options and sold US$5.1m worth of stock On the 4th of December, John Markovich exercised 200k options at a strike price of around US$0.92 and sold these shares for an average price of US$26.31 per share. This trade did not impact their existing holding. Since March 2025, John's direct individual holding has decreased from 2.13m shares to 937.56k. Company insiders have collectively sold US$82m more than they bought, via options and on-market transactions in the last 12 months. New Risk • Dec 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$150m net loss in 3 years). Significant insider selling over the past 3 months (US$10m sold). Recent Insider Transactions Derivative • Nov 21
Chief Financial Officer notifies of intention to sell stock John Markovich intends to sell 500k shares in the next 90 days after lodging an Intent To Sell Form on the 20th of November. If the sale is conducted around the recent share price of US$23.44, it would amount to US$12m. Since December 2024, John's direct individual holding has increased from 576.39k shares to 937.56k. Company insiders have collectively sold US$72m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Nov 17
President recently sold US$3.9m worth of stock On the 13th of November, Alan Baratz sold around 168k shares on-market at roughly US$23.17 per share. This transaction amounted to 8.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Alan has been a net seller over the last 12 months, reducing personal holdings by US$5.3m. Recent Insider Transactions Derivative • Nov 14
President notifies of intention to sell stock Alan Baratz intends to sell 168k shares in the next 90 days after lodging an Intent To Sell Form on the 13th of November. If the sale is conducted around the recent share price of US$23.17, it would amount to US$3.9m. For the year to December 2021, Alan's total compensation was 33% salary and 67% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2024, Alan's direct individual holding has increased from 1.49m shares to 1.69m. Company insiders have collectively sold US$43m more than they bought, via options and on-market transactions in the last 12 months. 공고 • Nov 10
D-Wave to Showcase Advanced Hybrid Quantum Technologies at SC25 D-Wave Quantum Inc. announced it will showcase advances in hybrid quantum technology at SC25, the international conference for high performance computing (HPC), networking, storage and analysis. D-Wave will highlight quantum-HPC integration, impactful customer use cases, and emerging quantum-AI applications, underscoring the company's leadership in delivering energy-efficient quantum solutions that can drive measurable impact today. Against the backdrop of AI's escalating power consumption and the impact it is having on today's HPC centers, advanced hybrid quantum technologies are emerging as a potential energy-efficient accelerator for AI and HPC workflows. Reported Earnings • Nov 06
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: US$0.41 loss per share (further deteriorated from US$0.11 loss in 3Q 2024). Revenue: US$3.74m (up 100% from 3Q 2024). Net loss: US$140.0m (loss widened US$117.3m from 3Q 2024). Revenue exceeded analyst estimates by 23%. Earnings per share (EPS) missed analyst estimates by 133%. Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 123% per year, which means it is well ahead of earnings. 공고 • Nov 04
D-Wave Advantage2 Quantum Computer Now Available for U.S. Government Applications At Davidson Technologies D-Wave Quantum Inc. and Davidson Technologies Inc. announced that D-Wave's Advantage2TM quantum computeris now operational at Davidson Technologies's headquarters in Huntsville, Alabama. The system is expected to address mission-critical U.S. government problems, particularly in national defense, and will eventually run sensitive applications. This launch marks a major milestone in a multi-year agreement and technology collaboration between D-Wave and Davidson to accelerate quantum computing adoption and deployment among U.S. government agencies. D-Wave and Davidson are already exploring quantum use cases in areas such as radar detection, resource deployment, military logistics optimization, materials science, AI and national security. Available for customer use now via D-Wave's LeapTM real-time quantum cloud service, the system housed at Davidson's headquarters is D-Wave's second U.S.-based annealing quantum computer and the first in Alabama. Leading industry voices and Alabama lawmakers affirmed their support for this pivotal moment, highlighting the state's expanding leadership in advanced technology and its growing role in driving innovation within national defense. 공고 • Oct 23
D-Wave Quantum Inc. to Report Q3, 2025 Results on Nov 06, 2025 D-Wave Quantum Inc. announced that they will report Q3, 2025 results Pre-Market on Nov 06, 2025 Recent Insider Transactions • Oct 18
President recently sold US$1.4m worth of stock On the 14th of October, Alan Baratz sold around 31k shares on-market at roughly US$43.74 per share. This transaction amounted to 1.8% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$2.6m. This was Alan's only on-market trade for the last 12 months. Price Target Changed • Oct 16
Price target increased by 18% to US$26.30 Up from US$22.20, the current price target is an average from 10 analysts. New target price is 41% below last closing price of US$44.78. Stock is up 4,206% over the past year. The company is forecast to post a net loss per share of US$0.92 next year compared to a net loss per share of US$0.75 last year. Recent Insider Transactions Derivative • Oct 15
President notifies of intention to sell stock Alan Baratz intends to sell 31k shares in the next 90 days after lodging an Intent To Sell Form on the 14th of October. If the sale is conducted around the recent share price of US$43.74, it would amount to US$1.4m. For the year to December 2021, Alan's total compensation was 33% salary and 67% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2024, Alan's direct individual holding has increased from 1.49m shares to 1.64m. Company insiders have collectively sold US$41m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Sep 14
Chief Financial Officer recently sold US$1.6m worth of stock On the 11th of September, John Markovich sold around 100k shares on-market at roughly US$16.30 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$2.6m. This was John's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Sep 12
Chief Financial Officer notifies of intention to sell stock John Markovich intends to sell 50k shares in the next 90 days after lodging an Intent To Sell Form on the 11th of September. If the sale is conducted around the recent share price of US$16.30, it would amount to US$815k. Since December 2024, John's direct individual holding has increased from 576.39k shares to 786.67k. Company insiders have collectively sold US$38m more than they bought, via options and on-market transactions in the last 12 months. 공고 • Sep 03
D-Wave Quantum Inc. Appoints Stan Black as Chief Information Security Officer D-Wave Quantum Inc. announced it is expanding its executive team with the appointment of security industry veteran Stan Black as chief information security officer (CISO). At D-Wave, Black will align the company’s security strategy with its corporate business goals, inform product development, and advance artificial intelligence and machine learning governance. Black is a cybersecurity veteran with more than 20 years of experience leading security and compliance strategies at leading public and private technology companies that serve both the public and private sector, including Dell/EMC/RSA/VMware, Citrix, Nuance Communications, and Delinea. A trusted voice in cybersecurity, Black regularly shares his perspectives as a speaker, media contributor, and advisor to industry leaders. Recent Insider Transactions • Aug 17
Executive VP recently sold US$550k worth of stock On the 13th of August, Diane Nguyen sold around 30k shares on-market at roughly US$18.18 per share. This transaction amounted to 8.7% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$2.0m. Insiders have been net sellers, collectively disposing of US$7.1m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Aug 14
Chief Financial Officer notifies of intention to sell stock John Markovich intends to sell 300k shares in the next 90 days after lodging an Intent To Sell Form on the 12th of August. If the sale is conducted around the recent share price of US$19.00, it would amount to US$5.7m. Since December 2024, John's direct individual holding has increased from 576.39k shares to 745.92k. Company insiders have collectively sold US$33m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Aug 08
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: US$0.55 loss per share (further deteriorated from US$0.10 loss in 2Q 2024). Revenue: US$3.10m (up 42% from 2Q 2024). Net loss: US$167.3m (loss widened US$149.6m from 2Q 2024). Revenue exceeded analyst estimates by 22%. Earnings per share (EPS) missed analyst estimates significantly. Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Aug 05
Consensus EPS estimates upgraded to US$0.23 loss The consensus outlook for fiscal year 2025 has been updated. 2025 losses forecast to reduce from -US$0.253 to -US$0.227 per share. Revenue forecast unchanged from US$24.2m at last update. Software industry in the US expected to see average net income growth of 26% next year. Consensus price target up from US$17.25 to US$19.38. Share price fell 6.4% to US$17.18 over the past week. 공고 • Aug 04
D-Wave Quantum Inc. Introduces New Developer Tools to Advance Quantum AI Exploration and Innovation D-Wave Quantum Inc. announced that it has released a collection of offerings to help developers explore and advance quantum artificial intelligence (AI) and machine learning (ML) innovation, including an open-source quantum AI toolkit and a demo. Available now for download, the quantum AI toolkit enables developers to seamlessly integrate quantum computers into modern ML architectures. The demo demonstrates how developers can leverage this toolkit to experiment with using D-Wave™? quantum processors to generate simple images, reflecting what D-Wave believes is a pivotal step in the development of quantum AI capabilities. By releasing this new set of tools, D-Wave aims to help organizations accelerate the use of annealing quantum computers in a growing set of AI applications. The quantum AI toolkit, part of D-Wave's Ocean™? software suite, provides direct integration between D-Wave's quantum computers and PyTorch, a production-grade ML framework widely used to build and train deep learning models. The toolkit includes a PyTorch neural network module for using a quantum computer to build and train ML models known as a restricted Boltzmann machine (RBM). Used to learn patterns and connections from complex data sets, RBMs are employed for generative AI tasks such as image recognition and drug discovery. Training RBMs with large datasets can be a computationally complex and time-consuming task that could be well-suited for a quantum computer. By integrating with PyTorch, D-Wave's new toolkit aims to make it easy for developers to experiment with quantum computing to address computational challenges in training AI models. Turning Quantum AI Potential into Real-World Value: D-Wave continues to advance its quantum AI product roadmap, delivering new solutions to customers while expanding development efforts. The company is working with a growing number of customers on exploratory quantum AI projects including: Japan Tobacco Inc.: D-Wave has completed a joint proof-of-concept project with the pharmaceutical division of Japan Tobacco Inc. (JT) that used D-Wave's quantum computing technology and AI in the drug discovery process. The quantum proof-of-concept outperformed classical methods for AI model training in drug discovery. Julich Supercomputing Centre at Forschungszentrum Julich: Researchers used D-Wave's quantum technology to develop a ML tool that predicts protein-DNA binding with greater accuracy than traditional methods using classical computers. The team integrated quantum computing with support vector machines to achieve improved results in various metrics, significantly enhancing classification performance. TRIUMF: Canada's particle accelerator center and its partner institutions recently published a paper in npj Quantum Information showing significant speedups using D-Wave's quantum computers over classical approaches for simulating high-energy particle-calorimeter interactions--pot potentially leading to major efficiencies where the AI model is used to create synthetic data. Organizations looking to explore the integration of quantum computing into AI workloads can apply to the Leap Quantum LaunchPad™? program. Kevin Chern, Senior Benchmarking Researcher at D-Wave, will showcase the toolkit and demo during his presentation titled "An Introduction to Quantum Annealers in Optimization and Machine Learning," at The AI Research Summit at Ai4 2025, on August 13, 2025 from 11:05 a.m. to 11:25 a.m. PT. Price Target Changed • Jul 30
Price target increased by 13% to US$18.67 Up from US$16.57, the current price target is an average from 9 analysts. New target price is 9.4% above last closing price of US$17.06. Stock is up 1,606% over the past year. The company is forecast to post a net loss per share of US$0.24 next year compared to a net loss per share of US$0.75 last year. 공고 • Jul 30
D-Wave Quantum Announces Strategic Development Initiative for Advanced Cryogenic Packaging D-Wave Quantum Inc. announced a new strategic development initiative focused on advanced cryogenic packaging. Designed to advance and scale both gate model and annealing quantum processor development, the initiative builds on D-Wave's technology leadership in superconducting cryogenic packaging and will expand the company's multichip packaging capabilities, equipment, and processes. By bolstering its manufacturing efforts with technology, D-Wave aims to accelerate its cross-platform technology development efforts while maintaining and expanding fundamental components of its supply chain. As part of this initiative, D-Wave is leveraging deep expertise and processes at the NASA Jet Propulsion Laboratory ("JPL"), a research and development lab federally funded by NASA and managed by Caltech. Harnessing JPL's superconducting bump-bond process, D-Wave has demonstrated end-to-end superconducting interconnect between chips, work that D-Wave expects will serve as an important foundation for scaling both D-Wave's annealing architectures and its fluxonium-based gate-model architectures. D-Wave believes that superconducting bump bonds will be key to the scalable control of fluxonium and to interconnectivity in multichip quantum processor architectures. D-Wave is also acquiring equipment and developing processes with a goal to increase circuit densities in its pioneering superconducting printed-circuit-board ("PCB") manufacturing, required for both scaling to larger processors and supporting analog-digital quantum computing technology. Packaging quantum processors involves unique and demanding requirements, including: compatibility with ultra-low temperature operation, extremely low magnetic fields, and fully superconducting interconnects with no interruptions in superconductivity all the way from on-chip circuitry through to external control wiring. D-Wave's differentiated solution encompasses cryogenic compatible mechanical and electromagnetic design, regularly achieves lower qubit temperatures than most in the industry, and supports coherence times that meet the requirements for error-corrected gate-model quantum computing technology. 공고 • Jul 24
D-Wave Quantum Inc. to Report Q2, 2025 Results on Aug 07, 2025 D-Wave Quantum Inc. announced that they will report Q2, 2025 results Pre-Market on Aug 07, 2025 공고 • Jul 02
D-Wave Quantum Inc. has completed a Follow-on Equity Offering in the amount of $400 million. D-Wave Quantum Inc. has completed a Follow-on Equity Offering in the amount of $400 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Recent Insider Transactions • Jun 19
Independent Director recently sold US$1.8m worth of stock On the 12th of June, Roger Biscay sold around 107k shares on-market at roughly US$16.85 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$2.0m. Insiders have been net sellers, collectively disposing of US$6.6m more than they bought in the last 12 months. 공고 • Jun 11
D-Wave Quantum Inc. has filed a Follow-on Equity Offering in the amount of $400 million. D-Wave Quantum Inc. has filed a Follow-on Equity Offering in the amount of $400 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Recent Insider Transactions • May 25
Independent Director recently sold US$2.0m worth of stock On the 22nd of May, Roger Biscay sold around 112k shares on-market at roughly US$17.68 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$2.1m more than they bought in the last 12 months. Recent Insider Transactions Derivative • May 25
President exercised options and sold US$14m worth of stock On the 21st of May, Alan Baratz exercised 846k options at a strike price of around US$0.91 and sold these shares for an average price of US$17.00 per share. This trade did not impact their existing holding. For the year to December 2021, Alan's total compensation was 33% salary and 67% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since September 2024, Alan's direct individual holding has increased from 946.02k shares to 1.60m. Company insiders have collectively sold US$14m more than they bought, via options and on-market transactions in the last 12 months. 공고 • May 20
D-Wave Announces General Availability of Advantage2 Quantum Computer, Its Most Advanced and Performant System D-Wave Quantum Inc. announced the general availability of its Advantage2TM quantum computing system, a powerful and energy-efficient annealing quantum computer capable of solving nationally complex problems beyond the reach of classical computers. Featuring D-Wave's most advanced quantum processor to date, the Advantage2 system is commercial-grade, and built to address real-world use cases in areas such as optimization, materials simulation and artificial intelligence (AI). Customers can now access the Advantage2 system via D-Wave's LeapTM real-time quantum cloud service, which is available in more than 40 countries and offers 99.9% availability and uptime, sub-second response times and SOC 2 Type 2 compliance to meet enterprise needs and security requirements. For hyperscalers and supercomputing centers that want to integrate quantum computing into their infrastructure, the Advantage2 system is also available to purchase for on-premises ownership. Designed to tackle highly complex computational problems and facilitate quantum and hybrid-quantum applications for production deployment, the Advantage2 system's key benefits include: Increased qubit connectivity: The Advantage2 processor features the Zephyr™? topology with 20-way connectivity, which enables embedding of more complex problems. Higher energy scale and lower noise: The Advantage2 system offers a 40% increase in energy scale and a 75% reduction in noise, which contributes to higher-quality solutions for complex calculations. Greater coherence: A twofold increase in coherence allows the Advantage2 quantum processor to achieve faster time-to-s solution. Hybrid solver integration: Now integrated with the full Advantage2 system, the hybrid solvers in the Leap quantum cloud service--including the powerful nonlinear hybrid solver--support up to two million variables and constraints, allowing businesses to run large-scale, business-critical applications in production. Organizations regularly face the limitations of legacy computing solutions, leading to a growing demand for D-Wave's annealing quantum computing technology to tackle hard problems such as optimizing mobile networks, creating more efficient workforce scheduling, and streamlining automotive manufacturing processes. More than 20.6 million customer problems have been run on the Advantage2 prototypes available in the Leap cloud service since June 2022, with customer use up 134% in the last six months. An Advantage2 prototype was used by Japan Tobacco in a proof-of-concept project that utilized quantum computing and AI in the drug discovery process, and the Julich Supercomputing Center and Los Alamos National Laboratory have used the prototypes to advance their research. Beginning May 20, 2025, a full-scale generally available Advantage2 system is accessible in the Leap quantum cloud service for all D-Wave customers. In addition, D-Wave continues to expand its fleet of annealing quantum computers hosted around the world. The forthcoming Advantage2 system hosted on-premises at Davidson Technologies is intended to serve as a focal point for national security-focused quantum research. Also, the system currently located at the Julich Supercomputing Centre (JSC) at Forschungszentrum Julich (FZJ) will be upgraded to an Advantage2 system and is expected to connect with the JUPITER supercomputer, Europe's first and only exascale HPC, to facilitate breakthroughs in artificial intelligence and quantum optimization applications. Learn more and begin using the D-Wave Advantage2 quantum computer here here. Reported Earnings • May 09
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: US$0.019 loss per share (improved from US$0.11 loss in 1Q 2024). Revenue: US$15.0m (up US$12.5m from 1Q 2024). Net loss: US$5.42m (loss narrowed 69% from 1Q 2024). Revenue exceeded analyst estimates by 43%. Earnings per share (EPS) also surpassed analyst estimates by 62%. Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Price Target Changed • May 09
Price target increased by 10% to US$10.58 Up from US$9.58, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of US$10.42. Stock is up 695% over the past year. The company is forecast to post a net loss per share of US$0.28 next year compared to a net loss per share of US$0.75 last year. 공고 • Mar 20
D-Wave Introduces Quantum Blockchain Architecture, Featuring Enhanced Security and Efficiency over Classical Computing D-Wave Quantum Inc. announced that it has published a new research paper introducing a novel blockchain architecture that uses techniques from its quantum supremacy demonstration. By adding quantum to traditional blockchain computation, the new architecture could enhance blockchain security and efficiency. As part of this research, D-Wave scientists deployed the blockchain architecture across four of its cloud-based annealing quantum computers in Canada and the United States, performing distributed quantum computing for the first time. An illustration from a new research paper published by D-Wave introducing a novel blockchain architecture that leverages the company's quantum supremacy achievement. The illustration depicts how a "proof of quantum" algorithm developed by D-Wave uses quantum computation to generate and validate blockchain hashes. The new research paper, "Blockchain with Proof of Quantum Work," highlights how D-Wave built and tested a "proof of quantum" algorithms that uses quantum computation to generate and validation blockchain hashes. Classical computers currently used for hashing and proof of work consume significant amounts of electricity. Each year, the power consumption of Bitcoin alone-- just one application of blockchain-- is estimated to be comparable to the power consumption of the entire country of Poland. D-Wave's research indicates that using quantum computation for hashing and proof of work could require a fraction of the electricity used by classical resources alone and potentially reduce electricity costs by up to a factor of 1,000. The paper introduces a new quantum-powered method to securely and efficiently create hashes by mapping classical functions to the complex programmable spin glasses simulated in D-Wave's recent supremacy demonstration. The proof of quantum algorithm presented in the paper is designed to incorporate hashes generated by a quantum computer, excluding classical computation from the process and adding an enhanced layer of security. Initially developed to enable cryptocurrencies such as Bitcoin, blockchain technology has a diverse range of applications across supply chain management, healthcare, identity verification, and decentralized finance. The D-Wave™? annealing quantum computers used in the Company's recent quantum supremacy demonstration and this new blockchain research are available for customers to use via D-Wave's Leap™? real-time quantum cloud service. D-Wave plans to continue to drive the development of this capability and work with partners to bring to market products based on this new blockchain architecture. Price Target Changed • Mar 14
Price target increased by 18% to US$9.08 Up from US$7.67, the current price target is an average from 6 analysts. New target price is 31% above last closing price of US$6.91. Stock is up 235% over the past year. The company is forecast to post a net loss per share of US$0.35 next year compared to a net loss per share of US$0.75 last year. Reported Earnings • Mar 13
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: US$0.75 loss per share (further deteriorated from US$0.60 loss in FY 2023). Net loss: US$143.9m (loss widened 74% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 84%. Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. 
