D-Wave Quantum Inc. (QBTS) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to D-Wave's first quarter of fiscal year 2025 earnings conference call. Today's call is being recorded. At this time, I'd like to turn the floor over to Kevin Hunt of the Investor Relations. Please go ahead. Thank you, and good morning. With me today are Dr. Alan Barris, our Chief Executive Officer, and John Harkovich, our Chief Financial Officer. Before we begin, I'd like to remind everyone that this call may contain forward-looking statements that should be considered in conjunction with cautionary statements contained in our earnings release and the company's most recent periodic SEC report. During today's call, management will provide certain information that will constitute non-GAAP financial and operational measures under SEC rules, such as non-GAAP gross profit, non-GAAP gross margin, adjusted EBITDA, and bookings. Reconciliations to GAAP financial measures and certain additional information are also included in today's earnings release, which is available in the investor relations section of our company website at www.voa.com. I'll now hand over the call to Alan. Good morning, everyone, and thank you for joining us today. I'm really excited to share our results for the first quarter of fiscal 2025. 2025 is shaping us. as one of the most significant years in D-Wave's history, especially when you consider our technical achievements, our product development milestones, our go-to-market momentum, and our financial position. Highlights of the first quarter include record quarterly revenue driven by the completion of the first advantage system sale, additional customer applications moving into production, publication of our quantum supremacy results in science, and ongoing achievements against our aggressive product roadmap. The ...