D-Wave Quantum Inc. is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: QBTS reported a sharp revenue decline of 80.9% YoY to $2.9M in Q1 2026, with operating losses widening dramatically to -$54.7M, while the company significantly bolstered its balance sheet through equity raises, ending the quarter with $338M in cash and $1.12B in stockholders' equity.
Drawn from management commentary in the Q1 2026 10-Q:
Revenue fell 80.9% YoY from $15.0M to $2.9M in Q1 2026, suggesting a significant loss of contract revenue or a one-time prior-year item that did not recur, placing substantial pressure on the company's near-term financial performance.
R&D expenses more than doubled, rising 150.7% YoY from $10.3M to $25.8M, reflecting QBTS's aggressive investment in quantum computing technology development, which is the primary driver of the widening operating loss.
Operating loss widened by 384.7% YoY to -$54.7M from -$11.3M, driven by the combination of collapsing revenue and surging R&D and operating expenses, resulting in an operating margin of approximately -1,915%.
Revenue
$2.86M
-80.95% YoY
EPS (Basic)
$-0.05
-150.00% YoY
Gross Margin
63.6%
-28.90% YoY
Operating Income
$-54.73M
-384.70% YoY
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