D-Wave Quantum Inc. (QBTS) — Financial statements
Income statement, balance sheet, and cash flow for D-Wave Quantum Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 25↑178.5% | 9↑0.8% | 9↑22.1% | 7↑14.2% | 6 | |
| Cost of Revenue | 4↑31.2% | 3↓21.1% | 4↑41.5% | 3↑67.0% | 2 | |
| Gross Profit | 20↑265.0% | 6↑20.4% | 5↑8.8% | 4↓6.2% | 5 | |
| Operating Expenses | ||||||
| R&D Expenses | 51↑43.7% | 35↓6.8% | 38↑18.0% | 32↑26.4% | 25 | |
| General & Administrative Expenses | 41↑27.0% | 32↓12.4% | 37↑71.8% | 22↑81.0% | 12 | |
| Selling & Marketing Expenses | 29↑90.9% | 15↑46.6% | 10↑2.1% | 10↑62.9% | 6 | |
| SG&A Expenses | 70↑47.3% | 47↑0.4% | 47↑49.6% | 32↑74.9% | 18 | |
| Other Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Operating Expenses | 121↑45.8% | 83↓2.8% | 85↑33.7% | 64↑46.5% | 43 | |
| Total Costs & Expenses | 125↑45.2% | 86↓3.6% | 89↑34.0% | 67↑47.3% | 45 | |
| Operating Results | ||||||
| Operating Income | -100↓30.0% | -77↑4.1% | -81↓35.5% | -59↓52.7% | -39 | |
| Depreciation & Amortization | 2↑19.4% | 2↑4.7% | 2↓20.9% | 2↓10.3% | 3 | |
| EBITDA | -349↓152.6% | -138↓70.8% | -81↓64.9% | -49↓42.7% | -34 | |
| EBIT | -351↓150.8% | -140↓69.3% | -83↓61.0% | -51↓39.0% | -37 | |
| Interest & Other Income | ||||||
| Net Interest Income | 20↑615.8% | -4↓80.8% | -2↑7.7% | -2↑41.8% | -4 | |
| Interest Income | 24 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Interest Expense | 4↑3.0% | 4↑80.8% | 2↓7.7% | 2↓41.8% | 4 | |
| Non-Operating Income | 251↑299.4% | 63↑2843.7% | 2↑126.4% | -8↓307.0% | -2 | |
| Other Income / Expenses | -255↓282.1% | -67↓2973.1% | -2↓137.7% | 6↑384.2% | -2 | |
| Income Before Tax | -355↓146.8% | -144↓73.9% | -83↓54.0% | -54↓31.1% | -41 | |
| Income Tax Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | -355↓146.8% | -144↓73.9% | -83↓54.0% | -54↓31.1% | -41 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | -355↓146.8% | -144↓73.9% | -83↓54.0% | -54↓31.1% | -41 | |
| Bottom-Line Net Income | -355↓146.8% | -144↓73.9% | -83↓54.0% | -54↓31.1% | -41 | |
| EPS (Basic) | -1.11↓48.0% | -0.75↓25.0% | -0.60↓33.3% | -0.45↓36.4% | -0.33 | |
| EPS (Diluted) | -1.11↓48.0% | -0.75↓25.0% | -0.60↓33.3% | -0.45↓36.4% | -0.33 | |
| Weighted Average Shares | 321↑67.2% | 192↑39.2% | 138↑15.3% | 120↓4.5% | 125 | |
| Weighted Average Diluted Shares | 321↑67.2% | 192↑39.2% | 138↑15.3% | 120↓4.5% | 125 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.