secwatch.observer — SEC 8-K summary
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Issuer:     D-Wave Quantum Inc. (QBTS)
CIK:        0001907982
Form:       8-K
Filed at:   2023-04-14T23:59:59+00:00
Accession:  0001140361-23-018370
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1907982/000114036123018370/0001140361-23-018370-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1907982/000114036123018370/brhc20051423_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-018370

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