D-Wave Quantum Q2 Earnings Call Highlights

2 weeks ago 4

MarketBeat

Fri, August 7, 2026 astatine 10:04 AM CDT 7 min read

Key Points

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Revenue was fundamentally flat twelvemonth implicit twelvemonth astatine $3.1 million, but QCaaS subscription gross roseate 50% and bookings accrued 59% to $2.1 million. Backlog surged 668% to $40.7 million, with 57% expected to person to gross wrong 12 months.
D-Wave's nett nonaccomplishment narrowed to $48 cardinal from $167.3 million, mostly due to the fact that of little non-cash warrant-related charges, portion its adjusted EBITDA nonaccomplishment widened to $37.1 cardinal arsenic the institution accrued spending connected merchandise improvement and sales. Cash and marketable securities totaled $546.2 cardinal aft the Quantum Circuits acquisition.
Commercial adoption is expanding: accumulation applications generated 37% of first-half QCaaS revenue, with deployments astatine AT&T, Optum and NTT Docomo. D-Wave expects humble third-quarter gross maturation and a importantly stronger 4th fourth driven by strategy shipments.

Quantum Earnings Could Decide Whether the Sector's Sell-Off Has Gone Too Far

D-Wave Quantum (NASDAQ:QBTS) reported second-quarter 2026 gross of $3.1 million, fundamentally unchanged from the year-earlier period, arsenic maturation successful quantum computing-as-a-service subscriptions and nonrecreational services offset a smaller publication from systems revenue.

The institution said second-quarter QCaaS subscription gross roseate 50% twelvemonth implicit twelvemonth to $1.9 million, portion nonrecreational services gross accrued much than 18% to astir $900,000. Systems and different gross was astir $300,000, chiefly tied to installation and site-preparation activities for a antecedently announced $20 cardinal strategy merchantability to Florida Atlantic University.

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D-Wave's AT&T Deal Shows Quantum Computing Is Moving Beyond Theory

Bookings accrued 59% from a twelvemonth earlier to $2.1 cardinal successful the quarter, portion the mean booking size roseate much than 87%, according to Chief Financial Officer John Markovich. The institution recognized gross from astir 100 customers, with commercialized enterprises accounting for 62.4% of revenue, up from 45.1% a twelvemonth earlier. Forbes Global 2000 customers represented 47.7% of quarterly revenue, compared with 20.4% successful the prior-year quarter.

Losses Rise arsenic Company Invests successful Development and Sales

D-Wave posted a second-quarter nett nonaccomplishment of $48 million, oregon $0.13 per share, compared with a nett nonaccomplishment of $167.3 million, oregon $0.55 per share, a twelvemonth earlier. The narrower nett nonaccomplishment was chiefly driven by a $142 cardinal diminution successful non-cash, non-operating charges related to the remeasurement of its erstwhile warrant liability. The institution redeemed each of its remaining publically traded warrants successful November 2025.

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