---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-018370"
form_type: "8-K"
ticker: "QBTS"
cik: "0001907982"
company_name: "D-Wave Quantum Inc."
filed_at: "2023-04-14T23:59:59+00:00"
generated_at: "2026-06-17T02:11:27.530319+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# D-Wave Quantum Q4 revenue $2.4M (+41% QoQ); net loss narrows to $12.5M; closes $50M loan

## Summary
- Q4 revenue $2.4M, up 41% sequentially from Q3; commercial customers grew 18% to 67 in FY22.
- GAAP net loss $12.5M ($0.10/sh) vs $13.8M ($0.11/sh) year ago; Adj. EBITDA -$14.5M vs -$9.3M.
- Closes $50M four-year term loan; enters 2023 with $5.8M firm backlog and prior-year renewals expected.
- Non-GAAP gross margin 68.1% (up 4.3pp YoY); GAAP gross margin 55.5% (down 8.3pp YoY).
- Operating expenses rose: GAAP $22.4M ($12.4M) and non-GAAP $15.9M ($10.9M) YoY.

## SEC filing metadata
- accession: 0001140361-23-018370
- form_type: 8-K
- ticker: QBTS
- cik: 0001907982
- company_name: D-Wave Quantum Inc.
- filed_at: 2023-04-14T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1907982/000114036123018370/0001140361-23-018370-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1907982/000114036123018370/brhc20051423_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-018370
- JSON: https://secwatch.observer/filing/0001140361-23-018370.json
- Plain text: https://secwatch.observer/filing/0001140361-23-018370.txt

## Key facts
- Earnings Releases
  D-Wave Quantum Inc. reported the fiscal fourth quarter and full year ended December 31, 2022 results: revenue $2.4 million.
  - Period: the fiscal fourth quarter and full year ended December 31, 2022
  - Revenue: $2.4 million
  - Result: reported results
  source text: toward proving quantum advantage Fourth Quarter Fiscal 2022 Financial Highlights • Revenue : On a sequential quarter-to-quarter basis, fiscal 2022 fourth quarter revenue of $2.4 million increased by $700,000, or 41%, from the immediately preceding fiscal 2022 third quarter revenue of $1.7 million that increased by $326,000, or 24%, from the immediately
  evidence_url: https://www.sec.gov/Archives/edgar/data/1907982/000114036123018370/0001140361-23-018370-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.