---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-035499"
form_type: "8-K"
ticker: "QBTS"
cik: "0001907982"
company_name: "D-Wave Quantum Inc."
filed_at: "2023-07-21T23:59:59+00:00"
generated_at: "2026-06-13T05:11:00.646173+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# D-Wave preliminary Q2 rev $1.65-1.8M (miss consensus); bookings +146% YoY; FY rev guide $11-13M, adj EBITDA worse

## Summary
- Preliminary Q2 revenue range $1.65-1.8M vs FactSet consensus $2.28M; shortfall due to timing of professional services revenue recognition.
- Q2 bookings $2.5M, up 146% YoY; first-half bookings $5.4M, up 209% YoY; fifth consecutive quarter of YoY growth.
- Average deal size increased 136% in Q2 and 252% in first half YoY.
- Closed second $15M tranche of $50M term loan with PSP Investments affiliate; total advances to $30M; loan amended to remove mandatory prepayment on ELOC draws up to $50M.
- FY2023 revenue guidance narrowed to $11-13M; Adjusted EBITDA guidance worsened to less than -$58M.

## SEC filing metadata
- accession: 0001140361-23-035499
- form_type: 8-K
- ticker: QBTS
- cik: 0001907982
- company_name: D-Wave Quantum Inc.
- filed_at: 2023-07-21T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1907982/000114036123035499/0001140361-23-035499-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1907982/000114036123035499/brhc20056152_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-035499
- JSON: https://secwatch.observer/filing/0001140361-23-035499.json
- Plain text: https://secwatch.observer/filing/0001140361-23-035499.txt

## Key facts
- Earnings Releases
  D-Wave Quantum Inc. reported fiscal second quarter ended June 30, 2023 results: revenue $1,650,000 to $1,800,000.
  - Period: fiscal second quarter ended June 30, 2023
  - Revenue: $1,650,000 to $1,800,000
  - Result: preliminary results
  source text: Preliminary fiscal second quarter revenue is expected to be in a range of $1,650,000 to $1,800,000 compared with the FactSet analyst consensus estimate of $2,281,000 with the shortfall due primarily to the timing of revenue recognition on certain professional services contracts.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1907982/000114036123035499/0001140361-23-035499-index.htm
- Earnings Releases
  D-Wave Quantum Inc. reported full year 2023 results: revenue a range of $11 million to $13 million.
  - Period: full year 2023
  - Revenue: a range of $11 million to $13 million
  - Result: guidance update
  source text: We expect the fiscal 2023 revenue to be in a range of $11 million to $13 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1907982/000114036123035499/0001140361-23-035499-index.htm

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