secwatch.observer — SEC 8-K summary
======================================

Issuer:     D-Wave Quantum Inc. (QBTS)
CIK:        0001907982
Form:       8-K
Filed at:   2024-05-13T23:59:59+00:00
Accession:  0001907982-24-000059
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1907982/000190798224000059/0001907982-24-000059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1907982/000190798224000059/qbts-20240513.htm
  HTML page:      https://secwatch.observer/filing/0001907982-24-000059

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