secwatch.observer — SEC 8-K summary
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Issuer:     D-Wave Quantum Inc. (QBTS)
CIK:        0001907982
Form:       8-K
Filed at:   2024-03-28T23:59:59+00:00
Accession:  0001907982-24-000046
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

D-Wave Q4 revenue $2.9M (+21% YoY); FY bookings $11.5M (+89%); guides FY24 Adj. EBITDA loss below FY23
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- Q4 revenue $2.9M, up 21% YoY; Q4 bookings $3.1M, up 34% YoY (7th consecutive quarterly growth).
- Full-year 2023 revenue $8.8M (+22%); GAAP gross margin Q4 67.7% (up from 56.9%), Non-GAAP 80.2%.
- Net loss Q4 $16.0M ($0.10/sh) improved from $18.2M; full-year net loss $82.7M ($0.60) vs $53.7M ($0.45).
- Cash balance $41.3M at Dec 31, 2023 (up from $7.1M); $82.1M remaining under ELOC.
- Guidance: Q1 2024 bookings at least $4.3M; FY24 Adjusted EBITDA loss less than FY23's $54.3M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1907982/000190798224000046/0001907982-24-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1907982/000190798224000046/qbts-20240328.htm
  HTML page:      https://secwatch.observer/filing/0001907982-24-000046

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer