---
schema_version: "secwatch.filing_event.v1"
accession: "0001907982-25-000248"
form_type: "8-K"
ticker: "QBTS"
cik: "0001907982"
company_name: "D-Wave Quantum Inc."
filed_at: "2025-11-06T23:59:59+00:00"
generated_at: "2026-05-17T00:02:15.314183+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# D-Wave Q3 revenue up 100% YoY to $3.7M; €10M Italy booking for Advantage2

## Summary
- Q3 revenue $3.7M (+100% YoY); GAAP gross profit $2.7M (+156%); gross margin improved to 71.4%.
- Adjusted EBITDA loss $20.6M (vs $13.8M); adjusted net loss improved to $18.1M from $23.2M.
- Post-quarter bookings closed over $12M; Q3 bookings $2.4M, up 80% sequentially.
- €10M booking for 50% capacity of Advantage2 system in Lombardy, Italy (5-year term with purchase option).
- Cash balance record at >$836M; new customers include major airline, SkyWater, Japan Tobacco.

## SEC filing metadata
- accession: 0001907982-25-000248
- form_type: 8-K
- ticker: QBTS
- cik: 0001907982
- company_name: D-Wave Quantum Inc.
- filed_at: 2025-11-06T23:59:59+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/1907982/000190798225000248/0001907982-25-000248-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1907982/000190798225000248/qbts-20251106.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001907982-25-000248
- JSON: https://secwatch.observer/filing/0001907982-25-000248.json
- Plain text: https://secwatch.observer/filing/0001907982-25-000248.txt

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