D-wave Quantum Inc. · NYSE:QBTS
D-wave Quantum — SPAC Merger (February 2022)
34 slides from D-wave Quantum's SPAC merger presentation, Feb 8, 2022
Slide 1: Filed by D-Wave Quantum Inc. Pursuant to Rule 425
Filed by D-Wave Quantum Inc. Pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 under the Securities Exchange Act of 1934 Subject Company: DPCM Capital, Inc. (Commission File No. 001-39638) QUANTUM
Slide 2: General Cautionary Note Regarding Forward Looking Statements
GENERAL CAUTIONARY NOTE CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS This presentation (“Presentation”) is solely for informational purposes and has been prepared to assist interested parties in making their own This Presentation contains forward-looking statements that are based on beliefs
Slide 3: Cautionary Note Regarding Non-GAAP Financial Measures; Certain Risks Related to D-Wave
CAUTIONARY NOTE REGARDING NON-GAAP FINANCIAL MEASURES CERTAIN RISKS RELATED TO D-WAVE This Presentation includes certain financial measures (including on a forward-looking basis), such as Adjusted EBITDA, Adjusted EBITDA margin and The risks presented below are certain of the general risks related t
Slide 4: Certain Risks Related to D-Wave (continued)
• If D-Wave’s quantum computing technology fails to deliver customer value to a broader range of customers versus existing classical • A key application of D-Wave’s quantum annealing technology is for optimization problems which, while a very broad market, requires approaches, its business, financia
Slide 5: Transaction Overview
5 TRANSACTION OVERVIEW 1,2 Opportunity to invest in a leading independent full-stack Quantum Computing SOURCES AND USES , $MM provider, offering integrated hardware, software, professional services and SOURCES application development tools delivering real-world impact at scale Existing SPAC Trust $3
Slide 6: Our Mission: To Unlock the Power of Quantum Computing to Benefit Business and Society
6 O U R M I S S I O N TO UNLOCK THE POWER OF QUANTUM COMPUTING TO BENEFIT BUSINESS AND SOCIETY 6 CONFIDENTIAL & PROPRIETARY INFORMATION: D -WAVE SYSTEMS INC.
Slide 7: D-Wave at a Glance
7 D-WAVE AT A GLANCE MARKET LEADER HQ: Vancouver, B.C. . EMPLOYEES: 180+ (70% R&D) First real-time quantum 5,000+ qubit system 250+ early applications cloud platform BUSINESS MODEL: The Quantum Cloud Company STRONG CUSTOMER BASE PLATFORM AS A SERVICE (PaaS): Real-time access to quantum/hybrid comput
Slide 8: D-Wave Differentiators
D-WAVE DIFFERENTIATORS QUANTUM ANNEALING: FULL STACK PROVIDER: REAL-TIME QUANTUM Required for optimization Annealing and gate systems, CLOUD SERVICE problems and addressing cloud service, software tools, for in-production applications the full quantum TAM professional services THREE MILLION TIMES FI
Slide 9: D-Wave Enables the Full Quantum Expected TAM
9 1 D-WAVE ENABLES THE FULL QUANTUM EXPECTED TAM COMBINATORIAL OPTIMIZATION LINEAR ALGEBRA & FACTORIZATION DIFFERENTIAL EQUATIONS . D-W AVE ANNEALING & GATE MODEL LONG-TERM $450 - 850B TAM (ANNEALING) ONLY GATE MODEL ONLY MID-TERM $25 - 50B TAM NEAR-TERM $2-5B TAM 1. Boston Consulting Group: “Where
Slide 10: Strong Demand for Quantum Solutions Already Exists
10 STRONG DEMAND FOR QUANTUM SOLUTIONS ALREADY EXISTS 81% of companies have quantum use cases in 1 mind in the next three years 39% 33% of business leaders see quantum’s impact OF COMPANIES ARE EXPERIMENTING WITH 1 as “transformational” to society 1 QUANTUM TODAY 31% of enterprises have abandoned co
Slide 11: Now Serving Blue Chip Logos in Key Markets
11 NOW SERVING BLUE CHIP LOGOS IN KEY MARKETS LOGISTICS PHARMA FINANCE Shipping container logistics Portfolio risk reduction and Protein folding Employee scheduling return optimization Clinical trials Farm to market food delivery Marketing campaign optimization Drug discovery Last mile vehicle routi
Slide 12: Business-Critical Grocery Tasks in Minutes Instead of Hours
12 B U S I N E S S - C R I T I C A L G R O C E R Y TA S K S IN MINUTES INSTEAD OF HOURS “What Advantage gives us, is the ability to seamlessly integrate quantum into our business problems. We've been able to decrease the amount of time to get a result from 25 hours down to seconds.” —ANDREW DONAHER,
Slide 13: Proprietary Information: D-Wave Systems Inc.
13 Confidential & Proprietary Information: D-Wave Systems Inc.
Slide 14: Reduce Waste in the Automotive Supply Chain
14 R E D U C E WA S T E I N T H E AUTOMOTIVE SUPPLY CHAIN “By continuing to research and develop these types of algorithms, we hope to have a significant impact on Volkswagen’s core business throughout multiple units. This application has immediate, real-world implications for production and logisti
Slide 15: A Quantum Solution Predicting Profitability
15 A Q U A N T U M S O L U T I O N PREDICTING PROFITABILITY Maximum value at lowest risk With 10 ^ 382 possible portfolios, the hybrid quantum/classical system made short work of it. “These results are exciting because they really show a commercially valuable application of quantum computing today.”
Slide 16: Select Customers: From Implementation to Execution
1 S E L E C T C U S T O M E R S 6 FROM IMPLEMENTATION TO EXECUTION CUSTOMER APPLICATION EVALUATION PROOF OF CONCEPT PILOT DEPLOYMENT PRODUCTION DEPLOYMENT CLINICAL TRIALS PHARMA MARKETING CAMPAIGNS FINANCE FINANCE PAYMENT PROCESSING FEATURE SELECTION RNA FOLDING PHARMA CODON MRNA MANUFACTURING FACTO
Slide 17: D-Wave Leads the Pack
1 7 1 D-WAVE LEADS THE PACK D-WAVE CUSTOMER APPLICATIONS • Peptide Design • Employee Scheduling • Last-Mile Vehicle Routing • Paint Shop Scheduling • Financial Portfolio Return Optimization • Farm to Market Food Delivery • Digital Marketing • OLED Materials Development • Financial Risk Reduction • M
Slide 18: D-Wave's Integrated Hardware and Software Solution
D-WAVE’S INTEGRATED HARDWARE AND SOFTWARE SOLUTION BETTER THE QUANTUM THE QUANTUM CLOUD COMPUTER BUILT SERVICE BUILT FOR BUSINESS FOR BUSINESS 5,000+ qubits 1 million variable hybrid solver TOGETHER IN-PRODUCTION APPLICATIONS AT BUSINESS SCALE WILL SUPPORT BOTH ANNEALING AND GATE 18 CONFIDENTIAL & P
Slide 19: Leap: The Real-Time Quantum Cloud Service
1 9 LEAP: THE REAL-TIME QUANTUM CLOUD SERVICE D-WAVE ADVANTAGE CLOUD-BASED REAL-TIME ACCESS USER INTERFACE Cloud access to the D-Wave quantum computer Security, privacy, and reliability to support Powerful HYBRID SOLVERS that run problems on a PRODUCTION APPLICATIONS combination of quantum and class
Slide 20: D-Wave Video
D-WAVE VIDEO 20 Confidential & Proprietary Information: D-Wave Systems Inc.
Slide 21: The Most Connected and Powerful Quantum Computer Built for Business
21 T H E M O S T C O N N E C T E D A N D P O W E R F U L Q U A N T U M C O M P U T E R BUILT FOR BUSINESS D-WAVE SUPPORTS HYBRID APPLICATIONS OF REAL-WORLD SIZE Up to 1 million variables ANNEALING QUANTUM PROCESSOR DESIGN 5,000+ qubits ONGOING INCREASES IN COHERENCE & CONNECTIVITY 21 CONFIDENTIAL &
Slide 22: D-Wave's Plan to Deliver a Scaled Gate Model System
22 D - WAV E ’ S P L A N T O D E L I V E R A 1 SCALED GATE MODEL SYSTEM VALIDATE MULTILAYER VALIDATE ERROR FIRST AT-SCALE VALIDATE ON-CHIP FAB STACK CORRECTION SYSTEM CONTROL New qubit design with low On-chip control with no increase Sixty qubit system using partial 5,000 qubit system configurable w
Slide 23: Summary Forecast Financial Performance
SUMMARY FORECAST FINANCIAL PERFORMANCE 1 REVENUE FORECAST REVENUE ($MM) $551 $600 SERVICES REVENUE CLOUD REVENUE $400 $219 $200 $72 $27 $11 $0 (2) 2022 E 2023 E 2024 E 2025 E 2026 E % GROSS 57% 66% 75% 82% 84% 1 MARGIN 1 ADJUSTED EBITDA FORECAST Adjusted EBITDA ($MM) Adjusted EBITDA Margin % Adjuste
Slide 24: Transaction Expected to Provide D-Wave with a Fully Funded Business Plan
24 TRANSACTION EXPECTED TO PROVIDE D -WAVE WITH A FULLY FUNDED BUSINESS PLAN D-WAVE FORECAST CASH POSITION (1)(2)(3) FORECAST END OF YEAR CASH BALANCE ($MM) $800 $600 $522 FORECAST CASH GENERATION $400 $354 $230 $168 $200 FORECAST $150 FORECAST END OF YEAR BEGINNING CASH BALANCE $91 $77 OF YEAR $168
Slide 25: Detailed Forecast Financial Performance
1 DETAILED FORECAST FINANCIAL PERFORMANCE $MM 2022E 2023E 2024E 2025E 2026E 1 Revenue 11 27 72 219 551 % Growth 119% 135% 166% 206% 151% 2 Gross Profit 7 18 54 180 465 % Margin 57% 66% 75% 82% 84% 2,3,4 Adjusted EBITDA (59) (83) (70) 14 226 % Margin n.m. n.m. n.m. 7% 41% 1. Revenue channels are stil
Slide 26: Industry Leading Management
INDUSTRY LEADING MANAGEMENT ALAN BARATZ, PhD JOHN MARKOVICH TANYA J. ROTHE VICTORIA BRYDON CEO CHIEF FINANCIAL OFFICER GENERAL COUNSEL VICE PRESIDENT HUMAN RESOURCES 35 years of technology leadership Senior financial executive with Member of the bars of CA and experience. CEO of D-Wave since extensi
Slide 27: Quantum
QUANTUM 27 CONFIDENTIAL & PROPRIETARY INFORMATION: D -WAVE SYSTEMS INC.
Slide 28: Share Bonus Structure for Non-Redeeming SPAC Public Shareholders
SHARE BONUS STRUCTURE FOR NON -REDEEMING SPAC (1) PUBLIC SHAREHOLDERS $ in millions except per-share amounts (2) Illustrative Redemptions -- 10% 20% 30% 40% 50% 60% 63% SPAC Non-Redeeming Shares 30.0 27.0 24.0 21.0 18.0 15.0 12.0 11.0 (+) Bonus Shares 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 Total Shares Iss
Slide 29: The Power of Quantum Computing
THE POWER OF QUANTUM COMPUTING THE PROBLEM Optimizing sharing of resources between hospitals 0 1 0/1 BITS limit the number of possible QUBITS allow quantum computers to see all possible solutions at once, solutions a classical computer can making it much easier to find the see at one time, making it
Slide 30: Annealing Quantum Computing: A Natural for Optimization
A N N E A L I N G Q U A N T U M C O M P U T I N G A NATURAL FOR OPTIMIZATION ANNEALING GATE-MODEL EXAMPLE BENEFITS WITH QAOA VW PAINT SHOP SCHEDULING VW PAINT SHOP SCHEDULING ANNEALING D-Wave: 80% waste reduction Gate QAOA: Like random 2 at 750 cars QUANTUM COMPUTING guessing at 11 cars OUTPERFORMS
Slide 31: Gate Model Technology Comparison
G AT E M O D E L T E C H N O L O G Y C O M PA R I S O N 1 SUPERCONDUCTING ADVANTAGES SUPERCONDUCTING ION TRAP PHOTONIC PROS• Faster gate speeds • Longer coherence times• Infinite coherence times • Proven ability to scale (D-Wave)• High qubit connectivity within a trap• Naturally scalable CONS• Short
Slide 32: DPCM Capital, Inc., a Special Purpose Acquisition Company
DPCM Capital, Inc (NYSE: XPOA) a special purpose acquisition company RAISED $300M BOARD OF DIRECTORS C H I E F E X E C U T I V E O F F I C E R Emil Michael Peter B.A., Harvard University Diamandis J.D., Stanford Law School CAREER HIGHLIGHTS Chief Business Officer at Uber, played a pivotal role in ra
Slide 33: The Commercial Quantum Computing Company
THE COMMERCIAL QUANTUM COMPUTING COMPANY C H I E F E X E C U T I V E O F F I C E R C H I E F F I N A N C I A L O F F I C E R Alan Baratz, PhD John Markovich PhD, Computer Science, MIT MBA, Michigan State University CAREER HIGHLIGHTS CAREER HIGHLIGHTS Prior to becoming CEO, served as 25+ years as CFO
Slide 34: Quantum
QUANTUM 34 CONFIDENTIAL & PROPRIETARY INFORMATION: D -WAVE SYSTEMS INC.