D-Wave Quantum Inc. ( (QBTS) ) has released its Q1 earnings. Here is a breakdown of the information D-Wave Quantum Inc. presented to its investors.
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D-Wave Quantum Inc. is a pioneering company in the quantum computing sector, known for being the first commercial supplier of quantum computers and offering both annealing and gate-model quantum computing systems.
In its first quarter of 2025, D-Wave Quantum Inc. reported a significant financial milestone with a record quarterly revenue of $15 million, marking a 509% increase compared to the same period last year. This growth was primarily driven by the sale of a quantum computing system and was accompanied by a record gross profit and a strong cash position.
Key highlights from the quarter include the demonstration of quantum supremacy on a real-world problem, the deployment of a hybrid-quantum application by Ford Otosan, and a successful proof-of-concept in drug discovery with Japan Tobacco. The company also completed the physical assembly of its Advantage2 system, which is designed for mission-critical challenges, and introduced new hybrid quantum solver capabilities.
Financially, D-Wave achieved a GAAP gross profit of $13.9 million and a gross margin of 92.5%, both significant improvements from the previous year. Despite an increase in operating expenses, the company reduced its net loss to $5.4 million, showcasing improved financial management and strategic investments in growth.
Looking ahead, D-Wave Quantum Inc. remains focused on expanding its quantum computing capabilities and applications, with management expressing confidence in their cash position to support future profitability. The company continues to innovate and collaborate with industry leaders to drive advancements in quantum computing technology.