---
schema_version: "secwatch.filing_event.v1"
accession: "0001907982-24-000059"
form_type: "8-K"
ticker: "QBTS"
cik: "0001907982"
company_name: "D-Wave Quantum Inc."
filed_at: "2024-05-13T23:59:59+00:00"
generated_at: "2026-06-02T02:49:27.383867+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# D-Wave Q1 revenue $2.5M (+56% YoY), bookings $4.5M (+54%); net loss narrows to $17.3M

## Summary
- Revenue $2.5M vs $1.6M YoY; bookings $4.5M, eighth consecutive YoY quarterly growth.
- GAAP gross margin 67.3% vs 26.6% YoY; non-GAAP gross margin 76.6%.
- Net loss $17.3M ($0.11/share) vs $24.4M ($0.20) YoY; Adjusted EBITDA loss $12.9M.
- Cash $27.3M at quarter end, $33M as of May 10; $82.1M available under ELOC.
- Renewed multiyear partnership with USC to host Advantage quantum system at USC Viterbi.

## SEC filing metadata
- accession: 0001907982-24-000059
- form_type: 8-K
- ticker: QBTS
- cik: 0001907982
- company_name: D-Wave Quantum Inc.
- filed_at: 2024-05-13T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1907982/000190798224000059/0001907982-24-000059-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1907982/000190798224000059/qbts-20240513.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001907982-24-000059
- JSON: https://secwatch.observer/filing/0001907982-24-000059.json
- Plain text: https://secwatch.observer/filing/0001907982-24-000059.txt

## Key facts
- Earnings Releases
  D-Wave Quantum Inc. reported the fiscal first quarter ended March 31, 2024 results: revenue $2.5 million, net income Net loss for the first quarter of fiscal 2024 was $17.3 million, or $0.11 per share, EPS $0.11 per share.
  - Period: the fiscal first quarter ended March 31, 2024
  - Revenue: $2.5 million
  - Net income: Net loss for the first quarter of fiscal 2024 was $17.3 million, or $0.11 per share
  - EPS: $0.11 per share
  - Result: reported results
  source text: with the Introduction of Fast Anneal, doc #lcUS52073224, April 2024 First Quarter Fiscal 2024 Financial Highlights • Revenue : Revenue for the first quarter of fiscal 2024 was $2.5 million, an increase of $0.9 million, or 56%, from the fiscal 2023 first quarter revenue of $1.6 million. • Bookings 1 : Bookings for the first quarter of fiscal 2024 were $4.5 million,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1907982/000190798224000059/0001907982-24-000059-index.htm

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