---
schema_version: "secwatch.filing_event.v1"
accession: "0001907982-26-000022"
form_type: "8-K"
ticker: "QBTS"
cik: "0001907982"
company_name: "D-Wave Quantum Inc."
filed_at: "2026-02-26T23:59:59+00:00"
generated_at: "2026-05-15T23:48:44.592512+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001907982-26-000022
- form_type: 8-K
- ticker: QBTS
- cik: 0001907982
- company_name: D-Wave Quantum Inc.
- filed_at: 2026-02-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1907982/000190798226000022/0001907982-26-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1907982/000190798226000022/qbts-20260226.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001907982-26-000022
- JSON: https://secwatch.observer/filing/0001907982-26-000022.json
- Plain text: https://secwatch.observer/filing/0001907982-26-000022.txt

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