---
schema_version: "secwatch.filing_event.v1"
accession: "0001907982-25-000179"
form_type: "8-K"
ticker: "QBTS"
cik: "0001907982"
company_name: "D-Wave Quantum Inc."
filed_at: "2025-08-07T23:59:59+00:00"
generated_at: "2026-05-17T18:27:43.153957+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# D-Wave Q2 revenue +42% YoY to $3.1M; net loss surges to $167.3M on warrant remeasurement

## Summary
- 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.

## SEC filing metadata
- accession: 0001907982-25-000179
- form_type: 8-K
- ticker: QBTS
- cik: 0001907982
- company_name: D-Wave Quantum Inc.
- filed_at: 2025-08-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1907982/000190798225000179/0001907982-25-000179-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1907982/000190798225000179/qbts-20250807.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001907982-25-000179
- JSON: https://secwatch.observer/filing/0001907982-25-000179.json
- Plain text: https://secwatch.observer/filing/0001907982-25-000179.txt

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