D-Wave Quantum Inc. (QBTS) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.760 Good morning, everyone, and welcome to D-Wave's fourth quarter fiscal year 2025 00:00:05.760 -- 00:00:10.528 earnings conference call. Today's conference call is being recorded. 00:00:10.528 -- 00:00:15.095 At this time, I would like to turn the call over to Kevin Hunt, Senior Director of Investor 00:00:15.095 -- 00:00:18.657 Relations. Please go ahead. 00:00:19.241 -- 00:00:21.745 Thank you, and good morning. With me today are Dr. 00:00:21.745 -- 00:00:26.558 Alan Barrett, our Chief Executive Officer, and John Markovich, our Chief Financial Officer. 00:00:26.558 -- 00:00:30.062 Before we begin, I would like to remind everyone that this call will contain forward-looking 00:00:30.062 -- 00:00:34.467 statements which are subject to risks and uncertainties and should be considered in conjunction 00:00:34.467 -- 00:00:38.752 with cautionary statements contained in our earnings release and the company's most recent 00:00:38.752 -- 00:00:43.758 periodic SEC reports. An on-demand webcast will be available and a 00:00:43.758 -- 00:00:47.543 transcript of a conference will be posted on the investor relations section of the website 00:00:47.543 -- 00:00:52.228 within 48 hours after the call. During today's call, management will provide certain 00:00:52.228 -- 00:00:56.900 information that will constitute non-GAAP financial measures under SEC rules. 00:00:56.900 -- 00:01:02.148 such as non-GAAP gross profit, non-GAAP gross margin, adjusted EBITDA loss, 00:01:02.148 -- 00:01:08.277 adjusted net loss, and adjusted net loss per share, and operating metrics such as bookings. 00:01:08.277 -- 00:01:12.824 Reconciliations to GAAP financial measures, definitions, and certain additional information 00:01:12.824 -- 00:01:16.990 are also included in tod...