secwatch.observer — SEC 8-K summary
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Issuer:     D-Wave Quantum Inc. (QBTS)
CIK:        0001907982
Form:       8-K
Filed at:   2026-05-12T11:01:54+00:00
Accession:  0001907982-26-000057
Event type: earnings
Sentiment:  positive
Materiality: 0.90
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

D-Wave Q1 2026: Record bookings $33.4M (+1,994% YoY); revenue $2.9M; net loss $0.05/share
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- Record quarterly bookings of $33.4M, up 1,994% YoY from $1.6M; includes $20M system sale to FAU and $10M Fortune 100 QCaaS deal.
- Revenue $2.9M, down 81% YoY due to prior year including $12.6M system sale; GAAP net loss $18.4M ($0.05 per share) vs $5.4M loss.
- Remaining performance obligations $42.4M, up 563% YoY; cash position $588M, up 93% YoY.
- Acquired Quantum Circuits in Jan 2026; roadmap targets 175-physical-qubit dual-rail system by end 2028 and 100 logical qubits by 2032.
- Non-GAAP adjusted operating expenses $34.8M, up 73% YoY; adjusted EBITDA loss $32.8M vs $6.1M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1907982/000190798226000057/0001907982-26-000057-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1907982/000190798226000057/qbts-20260512.htm
  HTML page:      https://secwatch.observer/filing/0001907982-26-000057

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