D-wave Quantum Inc. · NYSE:QBTS
D-wave Quantum — SPAC Merger (February 2022)
24 slides from D-wave Quantum's SPAC merger presentation, February 2022
Slide 1: D-Wave Commercial Quantum Computing
D':WAVe COMMERCIAL QUANTUM COMPUTING February * 2022
Slide 2: General Cautionary Note and 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 This Presentation contains forward-looking statements that are based on beliefs and assump
Slide 3: Non-GAAP Measures and 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 The risks presented below are certain of the general risks related to th
Slide 4: 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 • A key application of D-Wave’s quantum annealing technology is for optimization problems which, while a very broad market, classical approaches, its business, financial conditi
Slide 5: DPCM Capital SPAC board and advisors
DPCM Capital, Inc (NYSE: XPOA) a special purpose acquisition company RAISED $300M BOA RD OF D IRECTORS CHIEF EXECUTIVE OFFICER E mil M ic hae l Peter B.A ., Harvard Unive rsity Diamandis J.D ., S tanford Law S c hool CA REER HIGHLIG HTS Chie f Busine ss Offic e r at Ube r, playe d a pivotal role in
Slide 6: Transaction Overview
6 TRANSACTION OVERVIEW Opportunity to invest in a leading independent full-stack Quantum Computing SOURCES AND USES 1,2 , $MM provider, offering integrated hardware, software, professional services and SOURCES application development tools delivering real-world impact at scale Existing SPAC Trust $3
Slide 7: Our Mission
7 OUR MISSION TO UNLOCK THE POWER OF QUANTUM COMPUTING TO BENEFIT BUSINESS AND SOCIETY 7 COPYRIGHT © D-WAVE SYSTEMS INC.
Slide 8: D-Wave at a Glance
8 D-WAVE AT A GLANCE . HQ: Vancouver, B.C. EMPLOYEES: 180+ (70% R&D) MARKET LEADER 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 9: D-Wave Differentiators
D-WAVE DIFFERENTIATORS QUANTUM FULL STACK PROVIDER: REAL-TIME QUANTUM ANNEALING: Annealing and gate systems, CLOUD SERVICE Required for optimization cloud service, software tools, for in-production applications problems and addressing the professional services full quantum TAM THREE MILLION FIVE GEN
Slide 10: D-Wave Enables the Full Quantum Expected TAM
10 D-WAVE ENABLES THE FULL QUANTUM EXPECTED TAM 1 . C O M B I N A T O R I A L O P TI M I Z A TI O N L I N E A R A L GE B R A & F A C TO R I Z A TI O N D I F F E R E N TI A L E Q U A TI O N S D - W AV E AN N E AL I N G & G ATE M OD E L LONG-TERM ( AN N E AL I N G ) ON L Y G ATE M OD E L ON L Y $450 -
Slide 11: Strong Demand for Quantum Solutions Already Exists
11 STRONG DEMAND FOR QUANTUM SOLUTIONS ALREADY EXISTS 81% of companies have quantum use cases in mind in the next three years 1 33% of business leaders see quantum’s impact 39% OF COMPANIES ARE EXPERIMENTING WITH as “transformational” to society 1 QUANTUM TODAY 1 31% of enterprises have abandoned co
Slide 12: Now Serving Blue Chip Logos in Key Markets
12 NOW SERVING BLUE CHIP LOGOS IN KEY MARKETS LO G I S T I C S PHARMA FINANCE Shipping container logistics Protein folding Portfolio risk reduction and Employee scheduling Clinical trials return optimization Farm to market food delivery Drug discovery Marketing campaign optimization Last mile vehicl
Slide 13: In Minutes Instead of Hours
13 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.” 2 —ANDREW DONAHE
Slide 14: Predicting Profitability
14 A QUANTUM SOLUTION 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.” TIME TO SOLV
Slide 15: From Implementation to Execution
1 5 SELECT CUSTOMERS FROM IMPLEMENTATION TO EXECUTION CUSTOMER APPLICATIO N EVALUATIO N PROOF OF CONCEPT PILOT DEPLOYM E NT PRODUCTIO N DEPLOYM E NT PHARMA CLINICAL TRIALS FINANCE MARKETING CAMPAIGNS FINANCE PAYMENT PROCESSING FEATURE SELECTION RNA FOLDING PHARMA CODON MRNA MANUFACTURING FACTORY AUT
Slide 16: 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 16 C O P Y R I G H
Slide 17: Leap: The Real-Time Quantum Cloud Service
1 7 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 clas
Slide 18: Built for Business
18 THE MOST CONNECTED AND POWERFUL QUANTUM COMPUTER 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 18 C O P Y R I G H T © D - W A V E S Y S T E M S I N
Slide 19: Scaled Gate Model System
19 D - WAV E ’ S P L A N TO D E L I V E R A SCALED GATE MODEL SYSTEM 1 VALIDATE MULTILAYER VALIDATE ON-CHIP VALIDATE ERROR FIRST AT-SCALE FAB STACK CONTROL CORRECTION SYSTEM New qubit design with low On-chip control with no Sixty qubit system using 5,000 qubit system configurable error rates increas
Slide 20: Industry Leading Management
INDUSTRY LEADING MANAGEMENT ALAN BARATZ, PhD JOHN MARKOVICH TANYA J. ROTHE VICTORIA BRYDON CEO CFO GE N E R A L C O U N S E L SVP, PEOPLE & 35 years of technology leadership Senior financial executive with Member of the bars of CA and O P E R A TI O N A L E X C E L L E N C E experience. CEO of D-Wav
Slide 21: Summary Forecast Financial Performance
SUMMARY FORECAST FINANCIAL PERFORMANCE REVENUE FORECAST 1 R E V E N UE ( $ M M ) $600 $551 SE RVICE S RE VE NUE C L OUD RE VE NUE $400 $219 $200 $72 $11 $27 $0 2022 E (2) 2023 E 2024 E 2025 E 2026 E % GROSS 57% 66% 75% 82% 84% MA RGIN 1 ADJUSTED EBITDA FORECAST 1 Adjusted EBITDA ($MM) Adjusted EBITD
Slide 22: Transaction Expected to Provide a Fully Funded Business Plan
22 TRANSACTION EXPECTED TO PROVIDE D -WAVE WITH A FULLY FUNDED BUSINESS PLAN D-WAVE FORECAST CASH POSITION F O R E C A S T E N D O F Y E A R C A S H B A L A N C E ( $ M M ) ( 1 ) (2 ) $800 $600 $522 FO RECAST CASH GENERATI ON $400 $354 $230 $168 FO RECAST $200 FORECAST END OF YEAR $150 B EGINNING CA
Slide 23: Share Bonus Structure for Non-Redeeming SPAC Public Shareholders
S H A R E B O N U S S T R U C T U R E F O R N O N - R E D E E M I N G S PA C P U B L I C S H A R E H O L D E R S (1) $ in millions except per-share amounts I l l u s t r a t i v e R e de m pt i o n s -- 10% 20% 30% 40% 50% 60% 6 3 % (2) SPAC Non-Redeeming Shares 30.0 27.0 24.0 21.0 18.0 15.0 12.0 11
Slide 24: D-Wave Quantum
QUANTUM 24 C O P Y R I G H T © D - W A V E S Y S T E M S I N C .