D-Wave FY2025 revenue $24.6M (+179% YoY); cash $884.5M; Q1 2026 bookings >$32.8M

D-Wave Quantum Inc.

2025-FY EPS reported -$1.11 vs consensus -$0.07 ▼ miss (-1542.0%)

FY2025 revenue $24.6M, up 179% from $8.8M; GAAP gross margin 82.6% vs 63.0%.
Cash and marketable securities $884.5M as of Dec 31, 2025, up 397% YoY.
Post-quarter closed a $20M system sale (Florida Atlantic Univ.) and $10M QCaaS deal; Q1 2026 YTD bookings >$32.8M.
Completed acquisition of Quantum Circuits (error-corrected gate-model) with 99.9% gate fidelities.
Formed U.S. government business unit led by Jack Sears Jr.; demo with Anduril showed 10x faster missile defense solution.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.