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QBTS Stock Chart & Stats
$19.35
-$0.89(-5.20%)
At close: 4:00 PM EDT
$19.35
-$0.89(-5.20%)
Day’s Range― - ―
52-Week Range$11.35 - $39.68
Previous Close$16.25
Volume13.57M
Average Volume (3M)15.99M
Market Cap
$4.47B
Enterprise Value$8.40B
Total Cash (Recent Filing)$546.22M
Total Debt (Recent Filing)$13.08M
Price to Earnings (P/E)―
Beta2.83
Next Earnings
Nov 05, 2026EPS Estimate
-0.1Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)-0.71
Shares Outstanding376,450,530
10 Day Avg. Volume16,252,542
30 Day Avg. Volume15,988,248
Financial Highlights & Ratios
PEG Ratio-0.49
Price to Book (P/B)9.86
Price to Sales (P/S)341.62
P/FCF Ratio-110.75
Enterprise Value/Market Cap1.88
Enterprise Value/Revenue675.92
Enterprise Value/Gross Profit1.05K
Enterprise Value/Ebitda-31.99
Forecast
1Y Price Target
$35.79Price Target Upside84.94% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering15
EPS Forecast (FY)-0.3
Revenue Forecast (FY)$42.46M
Bulls Say, Bears Say
Bulls Say
Growing Quantum Cloud AdoptionRising cloud revenue and a larger share from production applications indicate movement beyond experimentation toward recurring, embedded customer use. This strengthens the services model, supports repeat engagement, and can broaden monetization as customers scale quantum workloads.
Bookings And Backlog ExpansionThe sharp increase in bookings and remaining performance obligations provides measurable forward revenue visibility and demonstrates stronger commercial traction. Scheduled recognition over the next two years could support growth while the company converts its expanding pipeline into delivered systems and services.
Validated Dual-Platform TechnologyPeer-reviewed validation of high-fidelity gate performance supports the credibility of D-Wave's gate-model roadmap, while its existing annealing platform provides a second commercial approach. Together, the platforms broaden potential applications and strengthen differentiation as quantum adoption develops.
Bears Say
Persistent Large Operating LossesLosses remain very large relative to revenue despite strong reported gross margins, indicating that personnel, development, and go-to-market spending currently outweigh commercial scale. Sustained losses can delay profitability and make successful execution on growth investments essential to the business model.
Ongoing Cash BurnPersistent negative operating and free cash flow show that D-Wave is not yet funding its operations internally. Continued investment in platforms and commercialization therefore increases reliance on available liquidity or external financing, reducing flexibility if revenue conversion takes longer than planned.
Revenue Timing And Margin VolatilityDependence on infrequent system deliveries makes reported revenue uneven and difficult to forecast, with shipment timing materially affecting quarterly results. The prior high-margin sale also creates difficult comparisons, while concentration of expected revenue in Q4 raises execution risk around installations and recognition.
D-Wave Quantum News
QBTS FAQ
What was D-Wave Quantum’s price range in the past 12 months?
D-Wave Quantum lowest stock price was $11.35 and its highest was $39.68 in the past 12 months.
What is D-Wave Quantum’s market cap?
D-Wave Quantum’s market cap is $4.47B.
When is D-Wave Quantum’s upcoming earnings report date?
D-Wave Quantum’s upcoming earnings report date is Nov 05, 2026 which is in 17 days.
How were D-Wave Quantum’s earnings last quarter?
D-Wave Quantum released its earnings results on Aug 06, 2026. The company reported -$0.1 earnings per share for the quarter, missing the consensus estimate of -$0.085 by -$0.015.
Is D-Wave Quantum overvalued?
According to Wall Street analysts D-Wave Quantum’s price is currently Undervalued.
Does D-Wave Quantum pay dividends?
D-Wave Quantum does not currently pay dividends.
What is D-Wave Quantum’s EPS estimate?
D-Wave Quantum’s EPS estimate is -0.1.
How many shares outstanding does D-Wave Quantum have?
D-Wave Quantum has 376,450,530 shares outstanding.
What happened to D-Wave Quantum’s price movement after its last earnings report?
D-Wave Quantum reported an EPS of -$0.1 in its last earnings report, missing expectations of -$0.085. Following the earnings report the stock price went down -9.28%.
Which hedge fund is a major shareholder of D-Wave Quantum?
Currently, no hedge funds are holding shares in QBTS
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology
D-Wave Quantum Stock Smart Score
Underperform
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10
Analyst Consensus
Strong Buy
Average Price Target:
$35.79 (84.94% Upside)
$35.79 (84.94% Upside)
Blogger Sentiment
Bullish
QBTS Sentiment 65%
Sector Average 65%
Sector Average 65%
Hedge Fund Trend
Decreased
By 105.3K Shares
Last Quarter.
Last Quarter.
Crowd Wisdom
Very Negative
Last 7 Days ▼ 0.9%
Last 30 Days ▼ 3.7%
Last 30 Days ▼ 3.7%
News Sentiment
Bullish
Bullish news 67%
Bearish news 33%
Bearish news 33%
Technicals
SMA
Negative
20 days / 200 days
Momentum
-70.88%
12-Months-Change
Fundamentals
Return on Equity
-26.67%
Trailing 12-Months
Asset Growth
37.32%
Trailing 12-Months
Learn more about TipRanks Smart Score
Company Description
D-Wave Quantum
Operating globally, D-Wave Quantum Inc. specializes in developing and supplying quantum computing systems, software, and related services. Their offerings include Advantage, a pioneering fifth-generation quantum computer, and Launch, an onboarding service designed for quantum computing adoption. The company also provides Ocean, a comprehensive suite of open-source programming tools. Furthermore, Leap is a cloud-based service that enables real-time interaction with a live quantum computer. This service further provides access to Advantage, along with hybrid problem-solving tools, the Ocean Software Development Kit, live code samples, demonstrations, learning resources, and a vibrant developer community. Additionally, D-Wave provides a dedicated "D-Wave Launch" professional service, guiding enterprises from initial problem identification through to production deployment of quantum applications. Their quantum solutions are leveraged across various domains such as artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. They serve industries including manufacturing, logistics, financial services, and life sciences, among others. D-Wave Quantum Inc. is headquartered in Burnaby, Canada.
QBTS Company Deck
QBTS Earnings Call
Q2 2026
0:00 / 0:00
Earnings Call Sentiment|Neutral
The call presents a mixed but constructive picture: strong technical validation (Nature paper), clear multi-year roadmaps for both gate-model and annealing platforms, growing enterprise traction with quantifiable production wins (AT&T, Optum, NTT DOCOMO), and materially expanded bookings and backlog. However, near-term financials show a substantial decline in first-half revenue versus last year (driven by timing of a prior large system sale), deteriorating gross margins versus a prior-period high-margin sale, rising adjusted EBITDA losses driven by personnel and development investments, and a notable cash reduction due to the Quantum Circuits acquisition. Strategic and technical progress is significant and supports medium- to long-term commercial opportunity, but the company is currently investing heavily and experiencing larger operational losses and near-term revenue volatility tied to system delivery timing.View all QBTS earnings summariesQBTS Stock 12 Month Forecast
Average Price Target
$35.79
▲(84.94% Upside)
Technical Analysis
Ownership Overview
1.69% Insiders
13.32% Mutual Funds
1.20% Other Institutional Investors
64.68% Public Companies and Individual Investors