D-Wave Quantum financials
$16.43−2.09%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 |
|---|---|---|---|---|
| Revenue | $24.6M | $8.8M | $8.8M | $7.2M |
| Gross profit | $20.3M | $5.6M | $4.6M | $4.3M |
| Gross margin | 82.6% | 63.0% | 52.8% | 59.3% |
| Operating income | -$100.4M | -$77.2M | -$80.5M | -$59.5M |
| Net income | -$355.1M | -$143.9M | -$82.7M | -$53.7M |
| Net margin | −1444.1% | −1630.0% | −944.5% | −748.7% |
| Diluted EPS | $-1.11 | $-0.75 | $-0.60 | $-0.45 |
| EBITDA | -$98.8M | -$76.1M | -$79.5M | -$58.0M |
| Operating cash flow | -$72.0M | -$42.6M | -$60.6M | -$45.2M |
| Free cash flow | -$75.8M | -$44.7M | -$61.2M | -$45.7M |
| Diluted shares | 321.2M | 192.1M | 138.0M | 119.6M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|
| Cash & equivalents | $635.3M | $178.0M | $41.3M | $7.1M |
| Short-term investments | $249.1M | $0.00 | $0.00 | $0.00 |
| Total debt | $36.0M | $30.5M | $64.2M | $33.5M |
| Total assets | $915.8M | $199.9M | $59.4M | $26.9M |
| Total liabilities | $63.6M | $137.2M | $83.8M | $54.5M |
| Shareholders' equity | $852.2M | $62.6M | -$24.5M | -$27.6M |
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