earnings
confidence high
sentiment neutral
materiality 0.65
D-Wave Q2 revenue +42% YoY to $3.1M; net loss surges to $167.3M on warrant remeasurement
D-Wave Quantum Inc.
2025-Q2 EPS
reported -$0.59
vs consensus -$0.05
▼ miss
(-1104.1%)
- Revenue $3.1M (+42% YoY); bookings $1.3M (+92% YoY).
- Cash balance record $819M after $400M ATM equity offering in Q2.
- GAAP net loss $167.3M ($0.55/diluted) vs $17.8M ($0.10) YoY, due to $142M non-cash warrant remeasurement.
- Adjusted EBITDA loss $20.0M, up 44% YoY; non-GAAP gross margin 71.8%.
- Launched Advantage2 quantum computer; MOU for system in South Korea; new customers include E.ON, GE Vernova.