secwatch.observer — SEC 8-K summary
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Issuer:     D-Wave Quantum Inc. (QBTS)
CIK:        0001907982
Form:       8-K
Filed at:   2025-08-07T23:59:59+00:00
Accession:  0001907982-25-000179
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1907982/000190798225000179/0001907982-25-000179-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1907982/000190798225000179/qbts-20250807.htm
  HTML page:      https://secwatch.observer/filing/0001907982-25-000179

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