D-Wave Quantum Inc. ( (QBTS) ) has released its Q3 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, providing advanced quantum computing systems, software, and services, and is recognized as the first commercial supplier of quantum computers globally.
In its third-quarter earnings report for 2025, D-Wave Quantum Inc. showcased significant growth, with revenue and gross profit both doubling year over year. The company also reported its highest cash balance in history, indicating strong financial health and operational momentum.
Key highlights from the report include a 100% increase in quarterly revenue to $3.7 million and a 156% rise in gross profit to $2.7 million. The company also achieved an impressive GAAP gross margin of 71.4%, up from 55.8% the previous year. D-Wave’s strategic partnerships, such as the €10 million booking for a quantum computing facility in Italy, and collaborations with major corporations like BASF and North Wales Police, underscore its expanding influence in the quantum computing landscape.
Despite these achievements, D-Wave reported a net loss of $140 million for the quarter, primarily due to non-cash charges related to warrant liabilities. However, the adjusted net loss was significantly lower at $18.1 million, reflecting the company’s underlying operational improvements.
Looking ahead, D-Wave Quantum Inc. remains focused on advancing quantum computing technology and expanding its global presence. The company’s management is optimistic about future growth, driven by ongoing investments in research and development and strategic collaborations across various industries.