D-Wave Quantum pares gains after underwhelming Q4 results
The annealing-centric quantum computing company just released quarterly results.
D-Wave Quantum is paring gains in premarket trading after posting lackluster quarterly results.
For Q4, the annealing-centric quantum computing company reported:
Revenue of $2.75 million (estimate: $3.75 million).
An adjusted loss per share of $0.09 (estimate: a $0.06 loss).
The stock had caught a bid in postmarket trading on Wednesday after competitor IonQ posted a massive Q4 revenue beat and strong sales guidance. Shares are still up about 3% as of 7:35 a.m. ET, but down meaningfully from where they were ahead of the release of these Q4 figures.
It’s been a very busy start to the year for D-Wave. In early January, the company touted a tech breakthrough that would keep qubits cool enough so that gate models could scale. Soon thereafter, management reached a deal to buy Quantum Circuits to accelerate its gate-model development. Late in the month, the company then announced a $20 million system sale, a partnership with Davidson Technologies and Anduril to improve US missile defense planning, and a $10 million, two-year quantum computing-as-a-service deal with an unnamed Fortune 100 company.
Of course, none of that played a role in the Q4 financials, but this string of successes has D-Wave CEO Dr. Alan Baratz extremely optimistic about the company’s prospects this year.
“If 2025 was the international year of quantum, 2026 is the international year of D-Wave Quantum,” he told Sherwood News.
Despite that, shares have floundered year to date, with D-Wave down about 25% in 2026 as of Wednesday’s close.
