D-Wave Quantum financials
$16.43−2.09%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q2 '25 Jun 30 | Q1 '25 Mar 31 | Q4 '24 Dec 31 | Q3 '24 Sep 30 | Q2 '24 Jun 30 | Q1 '24 Mar 31 | Q4 '23 Dec 31 | Q3 '23 Sep 30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.1M | $2.9M | $2.8M | $3.7M | $3.1M | $15.0M | $2.3M | $1.9M | $2.2M | $2.5M | $2.9M | $2.6M |
| Gross profit | $1.7M | $1.8M | $1.8M | $2.7M | $2.0M | $13.9M | $1.5M | $1.0M | $1.4M | $1.7M | $2.0M | $1.5M |
| Gross margin | 55.4% | 63.6% | 64.8% | 71.4% | 63.8% | 92.5% | 63.8% | 55.8% | 63.6% | 67.3% | 67.7% | 59.7% |
| Operating income | -$53.3M | -$54.7M | -$34.8M | -$27.7M | -$26.5M | -$11.3M | -$20.2M | -$20.6M | -$18.8M | -$17.5M | -$16.5M | -$18.4M |
| Net income | -$48.0M | -$18.4M | -$42.3M | -$140.0M | -$167.3M | -$5.4M | -$86.1M | -$22.7M | -$17.8M | -$17.3M | -$16.0M | -$16.1M |
| Net margin | −1561.4% | −642.3% | −1538.0% | −3743.9% | −5406.4% | −36.1% | −3727.9% | −1214.5% | −814.4% | −702.3% | −551.1% | −628.6% |
| Diluted EPS | $-0.13 | $-0.05 | $-0.12 | $-0.41 | $-0.55 | $-0.02 | $-0.37 | $-0.11 | $-0.10 | $-0.11 | $-0.10 | $-0.12 |
| EBITDA | -$48.5M | -$50.9M | -$34.4M | -$27.4M | -$26.2M | -$10.9M | -$19.9M | -$20.4M | -$18.6M | -$17.3M | -$16.3M | -$18.2M |
| Operating cash flow | -$28.5M | -$45.0M | -$18.4M | -$19.0M | -$15.3M | -$19.3M | $2.0M | -$18.1M | -$14.5M | -$12.1M | -$14.7M | -$16.9M |
| Free cash flow | -$32.9M | -$46.0M | -$20.0M | -$20.1M | -$16.0M | -$19.7M | $1.1M | -$18.4M | -$15.0M | -$12.4M | -$15.2M | -$16.9M |
| Diluted shares | 370.8M | 367.5M | 353.9M | 342.2M | 302.3M | 286.4M | 233.5M | 201.6M | 172.1M | 161.3M | 168.3M | 133.2M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $296.6M | $338.2M | $635.3M | $836.2M | $819.3M | $304.3M |
| Short-term investments | $249.6M | $250.2M | $249.1M | $0.00 | $0.00 | $0.00 |
| Total debt | $35.0M | $35.6M | $36.0M | $32.2M | $32.1M | $30.7M |
| Total assets | $1.16B | $1.20B | $915.8M | $865.8M | $843.6M | $325.6M |
| Total liabilities | $75.3M | $75.6M | $63.6M | $195.3M | $149.3M | $118.2M |
| Shareholders' equity | $1.08B | $1.12B | $852.2M | $670.6M | $694.3M | $207.4M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology