NasdaqGS · Technology · Financials
D-Wave Quantum (QBTS) financial statements and cash flow.
Revenue, profitability, balance-sheet strength, and cash generation for QBTS. Market data source · as of 2026-06-30.
Section freshness
Price Aug 22, 10:32 PM EDT · Statements Jun 29, 8:00 PM EDT
Financial read
QBTS latest financial snapshot.
Start with the latest reported values below. Deeper quarterly and annual statement tables follow when supplied.
Revenue
$3.08M
-0.6% YoY
Net income
-$48.03M
-161.6% QoQ
Free cash flow
-$32.94M
+28.4% QoQ
Gross margin
55.40%
Gross profit $1.70M
Balance sheet coverage
QBTS balance sheet summary
Assets, liabilities, liquidity, debt, and equity sit beside income and cash-flow tables so the statement history reads as one model-ready dataset.
20 quarterly · 4 annual rows · Market data source · as of 2026-06-30
Latest period
Q2 FY2026
20 quarterly · 4 annual rows
Assets / liabilities
$1.16B
Liabilities $75.32M
Cash / debt
$296.64M
Net cash $261.76M
Equity / working capital
$1.08B
Working capital $533.31M
Financial statements
QBTS statement coverage.
Income statement, balance sheet, and cash-flow figures for QBTS, with quarterly and annual history in the tables below.
Data last updated
Jun 29, 2026
Income periods
24
Balance-sheet periods
24
Cash-flow periods
24
Quarterly and annual QBTS statements, sourced from Market data source · as of 2026-06-30.
Financial statement period
QBTS statement history
Market data source · as of 2026-06-30 · Data last updated: Jun 29, 2026
Income statement
Quarterly and annual rows for revenue, operating leverage, earnings quality, and margin direction.
| Period | Revenue | Gross profit | Operating income | Interest income | Continuing ops | Net income | Comprehensive income | Net margin | Revenue QoQ | Net income QoQ |
|---|---|---|---|---|---|---|---|---|---|---|
| Q2 FY2026 | $3.08M | $1.70M | -$53.28M | -$48.03M | -1561.38% | +7.6% | -161.6% | |||
| Q1 FY2026 | $2.86M | $1.82M | -$54.73M | -$18.36M | -642.30% | +3.9% | +56.6% | |||
| Q4 FY2025 | $2.75M | $1.78M | -$34.84M | -$42.33M | -1538.01% | -26.4% | +69.8% | |||
| Q3 FY2025 | $3.74M | $2.67M | -$27.74M | -$139.99M | -3743.94% | +20.8% | +16.3% | |||
| Q2 FY2025 | $3.10M | $1.98M | -$26.50M | -$167.33M | -5406.43% | -79.4% | -2986.7% | |||
| Q1 FY2025 | $15.00M | $13.88M | -$11.29M | -$5.42M | -36.14% | +549.7% | +93.7% | |||
| Q4 FY2024 | $2.31M | $1.47M | -$20.23M | -$86.08M | -3727.89% | +23.5% | -279.0% | |||
| Q3 FY2024 | $1.87M | $1.04M | -$20.64M | -$22.71M | -1214.55% | -14.3% | -27.8% |
Balance sheet
Balance-sheet history for assets, liabilities, liquidity, debt, equity, and shares outstanding.
| Period | Cash | Current assets | Current liabilities | Total assets | Total liabilities | Total debt | Capital leases | Total equity | Shares | Debt QoQ |
|---|---|---|---|---|---|---|---|---|---|---|
| Q2 FY2026 | $296.64M | $560.59M | $27.29M | $1.16B | $75.32M | $34.89M | $1.08B | -1.5% | ||
| Q1 FY2026 | $338.20M | $607.11M | $28.36M | $1.20B | $75.56M | $35.42M | $1.12B | -1.1% | ||
| Q4 FY2025 | $635.35M | $896.23M | $21.15M | $915.81M | $63.58M | $35.83M | $852.23M | +11.8% | ||
| Q3 FY2025 | $836.23M | $848.14M | $15.51M | $865.82M | $195.27M | $32.05M | $670.55M | -0.0% | ||
| Q2 FY2025 | $819.31M | $828.54M | $19.27M | $843.60M | $149.35M | $32.06M | $694.25M | +5.6% | ||
| Q1 FY2025 | $304.32M | $310.87M | $15.00M | $325.60M | $118.21M | $30.37M | $207.39M | +0.8% | ||
| Q4 FY2024 | $177.98M | $185.04M | $30.14M | $199.85M | $137.21M | $30.13M | $62.65M | -5.9% | ||
| Q3 FY2024 | $35.08M | $25.83M | $49.56M | $66.48M | $32.01M | -$16.91M | +1.8% |
Cash flow
Operating cash generation, capital expenditure, free cash flow, buybacks, dividends, and cash movement.
| Period | Operating cash flow | CapEx | Free cash flow | Net income | Stock comp | Debt issuance | Dividends paid | Buybacks | Change in cash | FCF QoQ |
|---|---|---|---|---|---|---|---|---|---|---|
| Q2 FY2026 | -$28.50M | $4.44M | -$32.94M | -$48.03M | +28.4% | |||||
| Q1 FY2026 | -$44.96M | $1.08M | -$46.04M | -$18.36M | -129.8% | |||||
| Q4 FY2025 | -$18.37M | $1.66M | -$20.03M | -$42.33M | +0.1% | |||||
| Q3 FY2025 | -$19.05M | $1.02M | -$20.06M | -$139.99M | -25.1% | |||||
| Q2 FY2025 | -$15.29M | $749,000 | -$16.04M | -$167.33M | +18.7% | |||||
| Q1 FY2025 | -$19.28M | $438,000 | -$19.72M | -$5.42M | -1947.9% | |||||
| Q4 FY2024 | $2.02M | $950,000 | $1.07M | -$86.08M | +105.8% | |||||
| Q3 FY2024 | -$18.07M | $306,000 | -$18.38M | -$22.71M | -22.4% |
Valuation and returns
- Enterprise value
- $7.33B
- TECHi computed
- Return on equity
- -22.96%
- Market data source
- Return on assets
- -21.47%
- Market data source
- Debt / equity
- 0.03
- Current ratio 20.55
Ratio values use provider-attributed fields when available and otherwise fall back to TECHi statement math from the visible rows on this page.
Annual revenue and income multiples
Annual sales and income multiple reads use the latest annual statement when available, then fall back to trailing-twelve-month statement math from the visible quarterly rows.
- Annual revenue base
- $24.59M
- Annual statement 2025-12-31
- Annual income base
- -$355.06M
- Annual statement 2025-12-31
- Market cap / annual revenue
- 308.86
- Live market value divided by annual revenue
Annual sales and income multiple
Market capitalization bridge
TTM valuation multiples
- TTM revenue
- $12.43M
- Trailing twelve months
- TTM EBIT
- -$170.58M
- TTM operating income
- Market cap / TTM revenue
- 611.19
- Live market value divided by trailing twelve months revenue
- EV / TTM revenue
- 590.12
- Enterprise value divided by trailing twelve months revenue
Live market value is matched against trailing-twelve-month statement bases first so the multiple moves with the tape instead of anchoring to stale fiscal-year rows.
Revenue, net income, and free cash flow
Quarterly statement rows, shown on one common dollar scale so margin compression and cash conversion stand out quickly.
Efficiency
Growth vs cost pressure
Cash conversion
Quarterly margin heatmap
Latest quarter expense mix
Profit bridge
Other income statement lines
Balance sheet · Q2 FY2026
- Cash & equivalents
- $296.64M
- Total debt
- $34.89M
- Net cash
- $261.76M
- Net cash position
- Total equity
- $1.08B
Balance sheet detail
- Current assets
- $560.59M
- Current liabilities
- $27.29M
- Inventory
- $3.49M
- Receivables
- $2.02M
- Property, plant & equipment
- $22.08M
- Long-term debt
- $34.89M
Debt and liquidity
Cash + short-term investments + receivables / current liabilities
Cash generation
- Operating cash flow
- -$28.50M
- Capital expenditure
- $4.44M
- Free cash flow
- -$32.94M
Cash-flow detail
- Depreciation & amortization
- $4.73M
- Investing cash flow
- -$8.52M
- Financing cash flow
- -$4.68M
- Stock issuance
- $1.52M
- Common stock issued
- Net buybacks
- -$1.52M
- Repurchases less stock issuance
Cash flow read
QBTS is consuming cash this period.
Negative free cash flow can be deliberate (heavy capex on a growth project) or stress (operating cash flow turning south). Compare -$28.50M of operating cash flow against $4.44M of capex to see which side is moving.
Frequently asked
Common questions.
What financial data is available for QBTS?
The QBTS Financials page renders only the current income-statement, balance-sheet, cash-flow, or fund rows supplied for D-Wave Quantum. Missing modules and empty line items are omitted.
How current are QBTS's financial statements?
Each visible statement row keeps its reported period and provider attribution. The route redirects to the main quote when no usable financial or fund data remains.