D-Wave Quantum Inc. financial data

Symbol
QBTS on NYSE
Location
Palo Alto, CA
Fiscal year end
31 December
Latest financial report
10-K - Q4 2025 - 26 Feb 2026

Key Ratios

Label TTM Value / Value Unit Change %
Current Ratio 4065% % 1384%
Quick Ratio 14% % 94%
Debt-to-equity 22% %
Return On Equity -59% % -101%
Return On Assets -48% % 70%
Operating Margin -408% % 53%

Shares

Label TTM Value / Value Unit Change %
Entity Common Stock, Shares Outstanding 366,737,601 shares 27%
Common Stock, Shares, Outstanding 358,741,605 shares 35%
Entity Public Float $4,929,610,182 USD 3505%
Common Stock, Value, Issued $35,000 USD 30%
Weighted Average Number of Shares Outstanding, Basic 321,202,025 shares 67%
Weighted Average Number of Shares Outstanding, Diluted 321,202,025 shares 67%

Income Statement

Label TTM Value / Value Unit Change %
Revenue from Contract with Customer, Excluding Assessed Tax $24,587,000 USD 179%
Cost of Revenue $4,281,000 USD 31%
Research and Development Expense $50,734,000 USD 44%
Selling and Marketing Expense $28,754,000 USD 91%
General and Administrative Expense $41,186,000 USD 27%
Operating Income (Loss) $100,368,000 USD -30%
Nonoperating Income (Expense) $254,694,000 USD -282%
Net Income (Loss) Attributable to Parent $355,062,000 USD -147%
Earnings Per Share, Basic -1.11 USD/shares -48%
Earnings Per Share, Diluted -1.11 USD/shares -48%

Balance Sheet

Label TTM Value / Value Unit Change %
Cash and Cash Equivalents, at Carrying Value $635,347,000 USD 257%
Marketable Securities, Current $249,134,000 USD
Accounts Receivable, after Allowance for Credit Loss, Current $1,587,000 USD 12%
Inventory, Net $2,776,000 USD 65%
Assets, Current $896,232,000 USD 384%
Property, Plant and Equipment, Net $7,841,000 USD 90%
Operating Lease, Right-of-Use Asset $6,518,000 USD -10%
Intangible Assets, Net (Excluding Goodwill) $915,000 USD 87%
Other Assets, Noncurrent $4,307,000 USD 47%
Assets $915,813,000 USD 358%
Employee-related Liabilities, Current $10,348,000 USD 88%
Accrued Liabilities, Current $15,838,000 USD 80%
Contract with Customer, Liability, Current $2,778,000 USD -85%
Liabilities, Current $21,148,000 USD -30%
Contract with Customer, Liability, Noncurrent $560,000 USD -16%
Operating Lease, Liability, Noncurrent $6,050,000 USD -5.3%
Liabilities $63,583,000 USD -54%
Accumulated Other Comprehensive Income (Loss), Net of Tax $9,021,000 USD 14%
Retained Earnings (Accumulated Deficit) $982,002,000 USD -57%
Stockholders' Equity Attributable to Parent $852,230,000 USD 1260%
Liabilities and Equity $915,813,000 USD 358%

Popular Metrics

Label TTM Value / Value Unit Change %
Net Cash Provided by (Used in) Operating Activities $19,279,000 USD -59%
Net Cash Provided by (Used in) Financing Activities $145,620,000 USD
Net Cash Provided by (Used in) Investing Activities $498,000 USD 59%
Common Stock, Shares Authorized 675,000,000 shares 0%
Common Stock, Shares, Issued 358,741,605 shares 35%
Common Stock, Par or Stated Value Per Share 0.0001 USD/shares 0%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect $126,341,000 USD
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $635,347,000 USD 257%
Deferred Tax Assets, Valuation Allowance $156,225,000 USD 21%
Deferred Tax Assets, Gross $156,871,000 USD 21%
Operating Lease, Liability $7,498,000 USD -5.1%
Depreciation $1,400,000 USD 40%
Payments to Acquire Property, Plant, and Equipment $438,000 USD 44%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent $353,573,000 USD -146%
Lessee, Operating Lease, Liability, to be Paid $10,697,000 USD -8.7%
Property, Plant and Equipment, Gross $33,704,000 USD 16%
Operating Lease, Liability, Current $1,448,000 USD -4.2%
Lessee, Operating Lease, Liability, to be Paid, Year Two $1,334,000 USD -4.2%
Lessee, Operating Lease, Liability, to be Paid, Year One $1,456,000 USD -3.7%
Operating Lease, Weighted Average Discount Rate, Percent 0.098 pure -3%
Lessee, Operating Lease, Liability, Undiscounted Excess Amount $3,199,000 USD -16%
Lessee, Operating Lease, Liability, to be Paid, Year Three $1,356,000 USD 6.6%
Deferred Tax Assets, Operating Loss Carryforwards $80,603,000 USD 25%
Lessee, Operating Lease, Liability, to be Paid, Year Four $1,248,000 USD -3.5%
Additional Paid in Capital $1,843,218,000 USD 163%
Depreciation, Depletion and Amortization $376,000 USD 64%
Deferred Tax Assets, Net of Valuation Allowance $646,000 USD -37%
Share-based Payment Arrangement, Expense $22,657,000 USD 45%