---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-025630"
form_type: "8-K"
ticker: "QBTS"
cik: "0001907982"
company_name: "D-Wave Quantum Inc."
filed_at: "2023-05-19T23:59:59+00:00"
generated_at: "2026-06-14T20:08:48.488293+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# D-Wave Q1 revenue $1.6M, net loss $24.6M; bookings surge 297% to $2.9M

## Summary
- Revenue $1.6M, down 7.6% YoY; net loss $24.6M ($0.20/share) vs $11.7M loss a year ago.
- Bookings $2.9M up 297% YoY; fifth consecutive sequential quarterly growth.
- Commercial revenue increased 30% over trailing four quarters vs prior four quarters.
- Non-GAAP adjusted EBITDA -$16.9M vs -$9.8M in prior year quarter.
- Published Nature paper proving quantum speedup on 3D spin glasses.

## SEC filing metadata
- accession: 0001140361-23-025630
- form_type: 8-K
- ticker: QBTS
- cik: 0001907982
- company_name: D-Wave Quantum Inc.
- filed_at: 2023-05-19T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1907982/000114036123025630/0001140361-23-025630-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1907982/000114036123025630/brhc20053147_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-025630
- JSON: https://secwatch.observer/filing/0001140361-23-025630.json
- Plain text: https://secwatch.observer/filing/0001140361-23-025630.txt

## Key facts
- Earnings Releases
  D-Wave Quantum Inc. reported first quarter ended March 31, 2023 results: revenue $1.6 million.
  - Period: first quarter ended March 31, 2023
  - Revenue: $1.6 million
  - Result: reported results
  source text: Revenue for the first quarter of fiscal 2023 was $1.6 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1907982/000114036123025630/0001140361-23-025630-index.htm

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