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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NasdaqGS · 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.
Section freshness
Price Aug 21, 4:00 PM EDT · Statements Jun 29, 8:00 PM EDT
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.
After-hoursRealtime extended-hours pricing
$20.39
▲ +$1.59(+8.46%)4:00 PM ET - vs previous closeiQuote as of Aug 21, 2026, 4:00 PM EDT
After-hours NasdaqGS quote as of Aug 21, 2026, 4:00 PM EDT. Extended-hours prices can sit outside the regular-session range.
Market data source
Today86%
$19.10L Aug 21 '26$20.60H Aug 21 '26
52-week22%
$12.75$46.75
Long-term ranges5Y, Since first printHide
5Y43%
$0.3960L May 8 '23$46.75H Oct 15 '25
Since first print43%
$0.3960L May 8 '23$46.75H Oct 15 '25
Live price
$20.39
Live during market hours
Market cap
$7.59B
Equity scale
Analyst view
Buy
Target $35.25 (+72.89% 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
NasdaqGS · QBTS · US
- Sector
- Technology
- Industry
- Technology
- Country
- US
- Founded
- 2004
- Exchange
- NasdaqGS
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
- Technology
- Founded
- 2004
- Country
- US
- Exchange
- NasdaqGS
Registration and filing identifiersShowHide
- Asset type
- Common Stock
- Fiscal year end
- December
- Latest quarter
- Jun 30, 2026
- CIK
- 0001907982
Key metrics
QBTS valuation, revenue and margin profile
- Market cap
- $7.59B
- Equity scale
- Revenue TTM
- $12.43M
- Trailing twelve months
- Revenue growth
- -0.61%
- Latest YoY quarter
- Free cash flow
- -$32.94M
- Reported in USD
Margin quality snapshot
Gross margin64.19%
Competitors
QBTS competitors and peer context
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 0.03 · CR 20.55
Debt load and near-term liquidity shape how much strategic patience the company has.
Growth durability
Monitor-0.61%
Latest YoY revenue growth is the first check on whether the business model is still expanding.
Market sensitivity
HighBeta 2.16
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
- 362.27M
- Insider ownership
- 2.15%
- Institutional ownership
- 54.93%
Size & scale
- Market cap
- $7.59B
- Enterprise value
- $7.33B
- Shares outstanding
- 369.26M
- Currency
- USD
Frequently asked
Common questions.
What does D-Wave Quantum Inc do?
The QBTS Profile page keeps the available company description, sector, industry, leadership, headquarters, workforce, and product context together.
Where does TECHi source the QBTS profile?
Profile fields come from the unified company record and provider data; unavailable identity fields remain blank rather than inferred.