TECHi.comD-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.
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NYSE · TECHNOLOGY · Profile
D-Wave Quantum Inc. (QBTS) stock profile and business model
What D-Wave Quantum Inc. does, how the business earns money, and how valuation, peers, ownership, and risk shape the TECHi profile.
Investor profile snapshot
QBTS live price, business model and key metrics
Start with the live market print, then use this profile to connect D-Wave Quantum Inc.'s operating model with revenue, margins, peer context, and investor risk.
Pre-marketRealtime extended-hours pricing
$24.30
▲ +$0.4500(+1.89%)6:37 AM ET - vs previous closeQuote as of Jun 8, 2026, 6:37 AM EDT
Pre-market NYSE quote as of Jun 8, 2026, 6:37 AM EDT. Extended-hours prices can sit outside the prior regular-session range.
Latest 1D sessionOpen, gap, volumeHide details
Open $26.56
Vs open -$2.26 (-8.51%)
Opening gap +$2.71 (+11.36%)
Volume 33,985,887
Market data feed
Today31%
$23.29L Jun 8 '26$26.59H Jun 8 '26
52-week34%
$12.75$46.75
Long-term ranges5Y, 10Y, since IPOHide
Since first print52%
$0.3962L May 8 '23$46.75H Oct 15 '25
Live price
$24.30
Quote context appears first on profile pages.
Market cap
$8.84B
Equity scale
Analyst view
Buy
Target $36.44 (+49.96% implied)
Company · Profile
About D-Wave Quantum Inc. (QBTS)
Sector, leadership, and how D-Wave Quantum Inc. earns its revenue.
TECHNOLOGY
Company · Profile
About D-Wave Quantum Inc. (QBTS)
Sector, leadership, and how D-Wave Quantum Inc. earns its revenue.
D-Wave Quantum Inc.
NYSE · QBTS · USA
- Sector
- TECHNOLOGY
- Industry
- COMPUTER HARDWARE
- Country
- USA
- Founded
- 2004
- Exchange
- NYSE
How D-Wave Quantum Inc. 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 identity
D-Wave Quantum Inc. company facts and operating footprint
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.
- Sector
- TECHNOLOGY
- Industry
- COMPUTER HARDWARE
- Founded
- 2004
- Country
- USA
- Exchange
- NYSE
Registration and filing identifiersShowHide
- Asset type
- Common Stock
- Fiscal year end
- December
- Latest quarter
- Mar 31, 2026
- CIK
- 1907982
Key metrics
QBTS valuation, revenue and margin profile
- Market cap
- $8.84B
- Equity scale
- Revenue TTM
- $12.44M
- Trailing twelve months
- Net margin
- 0.00%
- Profit after expenses
- Revenue growth
- -80.90%
- Latest YoY quarter
- Free cash flow
- -$46.04M
- Reported in USD
Margin quality snapshot
Gross margin66.27%
Operating margin-19.15%
Net margin0.00%
Competitors
QBTS competitors and peer context
Peer data is limited for this ticker. The full peers route will expand as provider coverage improves.
Risk heatmap
QBTS business risks investors should monitor
Valuation sensitivity
MonitorMultiple pending
Use the forward P/E and PEG context before treating the profile as cheap or expensive.
Balance-sheet flexibility
MonitorD/E 0.04 · CR 21.41
Debt load and near-term liquidity shape how much strategic patience the company has.
Growth durability
Elevated-80.90%
Latest YoY revenue growth is the first check on whether the business model is still expanding.
Market sensitivity
HighBeta 2.06
Higher beta can amplify drawdowns when rates, earnings expectations, or sector appetite shift.
Regulatory and operating pressure
ElevatedTECHNOLOGY
Platform rules, AI governance, export controls, and supply-chain constraints can move product timing, margins, or addressable markets.
QBTS ownership and registration profile
- Float shares
- 358.00M
- Insider ownership
- 2.27%
- Institutional ownership
- 48.37%
- Address
- 2650 EAST BAYSHORE ROAD, PALO ALTO, CA, UNITED STATES, 94303
Size & scale
- Market cap
- $8.84B
- Enterprise value
- $9.70B
- Shares outstanding
- 367.27M
- Currency
- USD
Frequently asked
Common questions.
What does D-Wave Quantum Inc. do?
D-Wave Quantum Inc.'s business profile, sector, industry, headquarters, founding year, employee count, leadership, and product portfolio are summarised on the QBTS Profile page — sourced from issuer disclosures and the TECHi-curated company record.
Who is the CEO of D-Wave Quantum Inc.?
Current leadership is listed on the QBTS Profile page with links to TECHi's Leaders pages where each named executive has a long-form profile, beat assignments, and connected products.
Where is D-Wave Quantum Inc. headquartered?
D-Wave Quantum Inc.'s headquarters address, country, and employee count are displayed on the Profile page; deeper geographic revenue mix lives in the Financials tab.
What products does D-Wave Quantum Inc. ship?
The Profile page lists D-Wave Quantum Inc.'s key products with deep links to TECHi's per-product pages (specs, pricing, market share, alternatives) under /products/.