Business
D-Wave Reports First Quarter 2025 Results
PALO ALTO, Calif., May 08, 2025--D-Wave Quantum Inc., (NYSE: QBTS) ("D-Wave" or the "Company") a leader in commercial quantum computing systems, software, and services, today announced financial results for its first quarter ended March 31, 2025.
About this update from D-wave Quantum Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":270,"url":"https://media.zenfs.com/en/business-wire.com/c5d9c4173bab066f4dfe2d90cdb629dd"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/zWwmZBkqoHzVLOosnV__CQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU0MDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/c5d9c4173bab066f4dfe2d90cdb629dd","width":480,"height":270}},"lazy":false},{"type":"text","content":"Record Quarterly Revenue of $15 Million - Up Over 500% Year over Year","length":69,"tagName":"p","attribs":{}},{"type":"text","content":"Record Quarterly GAAP Gross Profit of $13.9 Million","length":51,"tagName":"p","attribs":{}},{"type":"text","content":"Record Quarter End Cash Position of $304.3 Million","length":50,"tagName":"p","attribs":{}},{"type":"text","content":"PALO ALTO, Calif., May 08, 2025--(BUSINESS WIRE)--D-Wave Quantum Inc., (NYSE: QBTS) ("D-Wave" or the "Company") a leader in commercial quantum computing systems, software, and services, today announced financial results for its first quarter ended March 31, 2025.","length":283,"tagName":"p"},{"type":"text","content":""The first quarter of 2025 was arguably the most significant in D-Wave’s history, especially in terms of our unique ability to deliver quantum value today to our customers and the scientific community," said Dr. Alan Baratz, CEO of D-Wave. "We recognized revenue on our first Advantage™ system sale to a major research institution, moved an additional customer application into commercial production, and became the first to demonstrate quantum supremacy over classical computing on a useful real-world problem. The end result was a record revenue and gross profit quarter."","length":594,"tagName":"p"},{"type":"text","content":"Recent Business and Technical Highlights","length":40,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Announced record revenue of $15.0 million for the first quarter of fiscal 2025. This is an increase of $12.5 million, or 509%, from revenue of $2.5 million for the first quarter of fiscal 2024.","length":193,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"D-Wave’s consolidated cash balance totaled $304.3 million as of March 31, 2025, a record quarter-end b...