D-Wave Quantum is a quantum-computing company focused on annealing systems, quantum cloud access, and optimization use cases. The stock thesis is speculative and depends on bookings conversion, enterprise adoption, cash runway, and whether annealing proves commercially useful.
D-Wave Quantum (QBTS) Stock Price & Market Analysis
QBTS · NASDAQ · Computer Hardware
Market closedLatest available session print
$14.57
▼ -$0.0300(-0.21%)4:00 PM ET - vs previous closeQuote as of Oct 9, 2026, 4:00 PM EDT
Regular-session close · Oct 9, 2026, 4:00 PM EDT.
Yahoo Finance · delayed, minutes not stated · as of Oct 9, 2026, 4:00 PM EDT · current source
Last session48%
$14.31L Oct 9 '26$14.85H Oct 9 '26
52-week range5%
$12.75L Mar 30 '26$46.75H Oct 15 '25
Long-term rangesAvailable historyHide
Available history(2020-12-11)31%
$0.3960L May 8 '23$46.75H Oct 15 '25
Price history: 2020-12-11–2026-10-09. Earlier trading may not be included. Highs and lows use intraday prices when available, otherwise closing prices. The 52-week range is reported separately by Yahoo Finance.
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Data dates
PriceAt closeLast traded
FundamentalsLast checked
AnalystLast checked
NewsLatest item
What matters next
Next important events
- Nov 5, 2026Next earningsFinnhub · Estimated · Last verified 2026-10-11
Countdown
25 days out
Reported fundamentals
QBTS financial overview
Annual revenue
USD 24.59M
Sales for the fiscal year ended Dec 31, 2025. This is not trailing twelve-month revenue.
Revenue change
+178.5%
Change versus the fiscal year ended Dec 31, 2024.
Net profit margin
-1444.1%
Net income divided by revenue for the fiscal year ended Dec 31, 2025. This is not the trailing margin.
These reported results describe the business’s recent scale and profitability. Compare cash generation and valuation before forming an investment view; historical growth is not a forecast.
Company · Profile
About D-Wave Quantum (QBTS)
Sector, leadership, and how D-Wave Quantum earns its revenue.
Technology
Company · Profile
About D-Wave Quantum (QBTS)
Sector, leadership, and how D-Wave Quantum earns its revenue.
D-Wave Quantum
NASDAQ · QBTS · US
Company overview.
- Sector
- Technology
- Industry
- Computer Hardware
- Headquarters
- Palo Alto, CA, United States
- Country
- US
- Founded
- 2020
- Employees
- 385
- CEO
- Alan E. Baratz
- Exchange
- NASDAQ
How D-Wave Quantum makes money
Technology
Quantum annealing has a different path
D-Wave focuses on annealing systems for optimization problems rather than the same gate-model roadmap pursued by IonQ, Rigetti, IBM, and Google.
Revenue mix
Hardware, cloud, and services
The source pillar highlighted the importance of bookings and the gap between current revenue scale and market capitalization.
Commercial use
Optimization is the proof point
The bull case needs practical customer workloads in logistics, scheduling, materials, finance, or government use cases that classical systems cannot easily match.
Runway
Cash buys time, but not certainty
Quantum companies need enough capital to keep building while the market waits for useful commercial applications.
Key takeaways for QBTS
QBTS is a speculative quantum-computing exposure with a differentiated annealing approach.
Bookings and revenue conversion matter more than quantum-sector enthusiasm.
The key risk is that valuation assumes commercial quantum adoption before revenue proves it.
Business model & operating evidenceExplore business exposure, reported operating measures and the evidence behind growth and profitability claims.
Leadership
Chief executive officerName unavailable
Source: Financial Modeling Prep · Oct 11, 2026
Ownership filings and insider activityCompetitors & comparisonsCompare industry peers, reporting periods and related funds. Business mix and valuation bases may differ.
Governance & sustainability
All data sources
Search the dated figures used for this view. Each entry identifies its units, reporting period and calculation status.
Research tools
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Next open: 2026-10-12 · 9:30 AM America/New_York
Exchange calendar includes scheduled holidays and early closes. Extended-session prices appear separately only when supplied by the quote source.
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