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Julich Research Center Inaugurates Europe's First 5,000+ Qubit Quantum Computer
The Advantage quantum computer, the predecessor to D-Wave’s new system (Lukas Schulze/Getty Images)

D-Wave Quantum reports lower-than-expected Q1 sales, though backlog booms on major deals

Bookings at the end of Q1 were $33.4 million, up from $13.4 million in Q4 and $1.6 million a year ago.

Luke Kawa

D-Wave Quantum fell short of analysts’ expectations for sales in Q1, but the agreements it’s reached in the first three months of the year are boosting its sales outlook for the quarters to come.

In Q1, the annealing-centric quantum computing company reported:

  • Revenues of $2.9 million (compared to analyst estimates of $4.1 million).

  • A loss per share of $0.05 (estimate: an $0.08 loss).

Shares are up about 3.5% as of 7:18 a.m. ET, though off their morning highs that came prior to the earnings release.

While the top-line figures fell short of expectations, D-Wave’s bookings (or backlog of future sales) zoomed higher in Q1, thanks to a $20 million system sale to Florida Atlantic University and a $10 million services agreement with a Fortune 100 company. Accordingly, bookings at the end of Q1 were $33.4 million, up from $13.4 million in Q4 and $1.6 million a year ago.

Those two sales agreements in Q1, coupled with the firm’s announced acquisition of Quantum Circuits, prompted CEO Dr. Alan Baratz to proclaim that “2026 is the international year of D-Wave Quantum.”

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