---
schema_version: "secwatch.filing_event.v1"
accession: "0001907982-25-000088"
form_type: "8-K"
ticker: "QBTS"
cik: "0001907982"
company_name: "D-Wave Quantum Inc."
filed_at: "2025-05-08T23:59:59+00:00"
generated_at: "2026-05-22T05:40:43.478736+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 $15M (+509% YoY); record gross profit; net loss narrows to $5.4M

## Summary
- Revenue $15.0M vs $2.5M YoY; GAAP gross profit $13.9M (92.5% margin), both record highs.
- Net loss $5.4M ($0.02/sh) improved from $17.3M ($0.11/sh) YoY; Adjusted EBITDA loss $6.1M.
- Bookings $1.6M, down 64% from $4.5M YoY; quarter-end cash $304.3M.
- First Advantage system sale to Jülich Supercomputing Centre; Ford Otosan production deployment; quantum supremacy published in Science.
- Customer count 133 (69 commercial, 25 Forbes Global 2000); hybrid quantum solver enhancements added.

## SEC filing metadata
- accession: 0001907982-25-000088
- form_type: 8-K
- ticker: QBTS
- cik: 0001907982
- company_name: D-Wave Quantum Inc.
- filed_at: 2025-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- 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/1907982/000190798225000088/0001907982-25-000088-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1907982/000190798225000088/qbts-20250508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001907982-25-000088
- JSON: https://secwatch.observer/filing/0001907982-25-000088.json
- Plain text: https://secwatch.observer/filing/0001907982-25-000088.txt

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