D-Wave Quantum (QBTS) Financials

$16.36 +0.09 (+0.55%)

Closing price 05/30/2025 03:59 PM Eastern

Extended Trading

$16.33 -0.03 (-0.18%)

As of 05/30/2025 07:59 PM Eastern

Annual Income Statements for D-Wave Quantum

This table shows D-Wave Quantum's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Net Income / (Loss) Attributable to Common Shareholders	-144	-83	-54	-41	-22
Consolidated Net Income / (Loss)	-144	-83	-54	-41	-22
Net Income / (Loss) Continuing Operations	-144	-83	-54	-41	-22
Total Pre-Tax Income	-144	-83	-54	-41	-22
Total Operating Income	-77	-81	-59	-39	-31
Total Gross Profit	5.56	4.62	4.25	4.53	4.25
Total Revenue	8.83	8.76	7.17	6.28	5.16
Operating Revenue	8.83	8.76	7.17	6.28	5.16
Total Cost of Revenue	3.26	4.14	2.92	1.75	0.92
Operating Cost of Revenue	3.26	4.14	2.92	1.75	0.92
Total Operating Expenses	83	85	64	43	36
Selling, General & Admin Expense	32	37	22	12	12
Marketing Expense	15	10	10	6.18	3.71
Research & Development Expense	35	38	32	25	20
Total Other Income / (Expense), net	-67	-2.17	5.76	-2.03	9.50
Interest Expense	3.90	0.04	2.34	4.01	1.31
Interest & Investment Income	1.50	0.00	-	1.16	0.00
Other Income / (Expense), net	-64	-2.13	8.09	0.83	11
Basic Earnings per Share	($0.75)	($0.60)	($0.45)	($0.33)	($0.17)
Weighted Average Basic Shares Outstanding	192.13M	137.99M	119.65M	125.34M	127.16M
Diluted Earnings per Share	($0.75)	($0.60)	($0.45)	($0.33)	($0.17)
Weighted Average Diluted Shares Outstanding	192.13M	137.99M	119.65M	125.34M	127.16M
Weighted Average Basic & Diluted Shares Outstanding	287.80M	116.79M	80.39M	-	-

This table shows D-Wave Quantum's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-5.42	-86	-23	-18	-17	-16	-16	-26	-24	-18	-12
Consolidated Net Income / (Loss)	-5.42	-86	-23	-18	-17	-16	-16	-26	-24	-18	-12
Net Income / (Loss) Continuing Operations	-5.42	-86	-23	-18	-17	-16	-16	-26	-24	-18	-12
Total Pre-Tax Income	-5.42	-86	-23	-18	-17	-16	-16	-26	-24	-18	-12
Total Operating Income	-11	-20	-21	-19	-18	-17	-18	-21	-25	-21	-15
Total Gross Profit	14	1.47	1.04	1.39	1.66	1.97	1.53	0.71	0.42	1.36	1.04
Total Revenue	15	2.31	1.87	2.18	2.47	2.91	2.56	1.71	1.58	2.39	1.70
Operating Revenue	15	2.31	1.87	2.18	2.47	2.91	2.56	1.71	1.58	2.39	1.70
Total Cost of Revenue	1.12	0.84	0.83	0.80	0.81	0.94	1.03	1.00	1.16	1.03	0.65
Operating Cost of Revenue	1.12	0.84	0.83	0.80	0.81	0.94	1.03	1.00	1.16	1.03	0.65
Total Operating Expenses	25	22	22	20	19	19	20	22	25	22	16
Selling, General & Admin Expense	7.96	8.13	9.26	7.47	7.57	8.14	8.00	9.58	11	8.01	5.93
Marketing Expense	6.92	3.83	3.75	4.40	3.08	2.41	2.47	2.49	2.90	3.96	2.77
Research & Development Expense	10	9.75	8.67	8.36	8.53	7.96	9.46	9.55	11	10	7.51
Total Other Income / (Expense), net	5.87	-66	-2.08	1.06	0.20	0.53	2.30	-5.28	0.28	2.74	3.51
Interest Expense	0.23	0.42	1.18	1.16	1.14	-1.79	1.04	0.58	0.21	0.60	0.63
Interest & Investment Income	0.00	-	-0.01	-0.16	1.66	-	0.00	0.00	0.00	-	-
Other Income / (Expense), net	6.10	-65	-0.89	2.38	-0.32	-1.26	3.34	-4.71	0.50	3.34	4.15
Basic Earnings per Share	($0.02)	($0.43)	($0.11)	($0.10)	($0.11)	($0.07)	($0.12)	($0.21)	($0.20)	($0.16)	($0.10)
Weighted Average Basic Shares Outstanding	286.42M	192.13M	201.59M	172.14M	161.31M	137.99M	133.22M	127.34M	123.14M	119.65M	116.26M
Diluted Earnings per Share	($0.02)	($0.43)	($0.11)	($0.10)	($0.11)	($0.07)	($0.12)	($0.21)	($0.20)	($0.16)	($0.10)
Weighted Average Diluted Shares Outstanding	286.42M	192.13M	201.59M	172.14M	161.31M	137.99M	133.22M	127.34M	123.14M	119.65M	116.26M
Weighted Average Basic & Diluted Shares Outstanding	288.67M	287.80M	180.25M	157.67M	126.38M	116.79M	113.40M	98.90M	80.60M	80.39M	63.10M

This table details how cash moves in and out of D-Wave Quantum's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Net Change in Cash & Equivalents	137	34	-2.42	-12	13
Net Cash From Operating Activities	-43	-61	-45	-35	-29
Net Cash From Continuing Operating Activities	-43	-61	-45	-35	-29
Net Income / (Loss) Continuing Operations	-144	-83	-54	-41	-22
Consolidated Net Income / (Loss)	-144	-83	-54	-41	-22
Depreciation Expense	1.11	1.05	1.42	1.53	1.89
Amortization Expense	0.82	0.79	0.91	1.07	0.84
Non-Cash Adjustments To Reconcile Net Income	78	23	3.55	5.98	-13
Changes in Operating Assets and Liabilities, net	21	-2.96	2.51	-2.39	2.70
Net Cash From Investing Activities	-3.14	-0.63	-0.50	-2.00	-0.79
Net Cash From Continuing Investing Activities	-3.14	-0.63	-0.50	-2.00	-0.79
Purchase of Property, Plant & Equipment	-2.40	-0.63	-0.50	-2.00	-0.79
Sale and/or Maturity of Investments	0.25	0.00	-	-	-
Other Investing Activities, net	-1.00	0.00	-	-	-
Net Cash From Financing Activities	182	96	43	25	43
Net Cash From Continuing Financing Activities	182	96	44	25	43
Repayment of Debt	-30	-2.26	-23	-0.03	0.00
Issuance of Debt	0.00	29	20	0.11	0.00
Issuance of Common Equity	215	64	44	0.00	0.00
Other Financing Activities, net	-1.80	4.72	2.73	25	0.01
Effect of Exchange Rate Changes	0.01	-0.12	0.04	0.03	-
Cash Interest Paid	5.18	0.00	-	-	-

This table details how cash moves in and out of D-Wave Quantum's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	126	149	-12	14	-14	-12	46	-1.47	1.92	-6.70	3.30
Net Cash From Operating Activities	-19	2.02	-18	-14	-12	-15	-17	-15	-14	-11	-13
Net Cash From Continuing Operating Activities	-19	2.02	-18	-14	-12	-15	-17	-15	-14	-11	-13
Net Income / (Loss) Continuing Operations	-5.42	-86	-23	-18	-17	-16	-16	-26	-24	-18	-12
Consolidated Net Income / (Loss)	-5.42	-86	-23	-18	-17	-16	-16	-26	-24	-18	-12
Depreciation Expense	0.38	0.32	0.28	0.28	0.23	0.23	0.23	0.26	0.34	0.39	0.33
Amortization Expense	0.18	0.26	0.17	0.20	0.20	0.22	0.16	0.21	0.21	0.42	0.03
Non-Cash Adjustments To Reconcile Net Income	0.60	69	2.43	3.30	3.40	4.78	2.75	9.26	6.40	1.51	-0.59
Changes in Operating Assets and Liabilities, net	-15	18	1.76	-0.47	1.36	-3.95	-3.89	0.98	3.89	4.49	-0.81
Net Cash From Investing Activities	-0.50	-0.96	-0.37	-0.60	-1.21	-0.45	-0.10	-0.00	-0.08	-0.18	-0.10
Net Cash From Continuing Investing Activities	-0.50	-0.96	-0.37	-0.60	-1.21	-0.45	-0.10	-0.00	-0.08	-0.18	-0.10
Purchase of Property, Plant & Equipment	-0.50	-0.96	-0.37	-0.69	-0.37	-0.45	-0.10	-0.02	-0.06	-0.18	-0.10
Acquisitions	0.00	-	-	-	-0.09	-	-	-	-0.01	-	-
Sale and/or Maturity of Investments	0.00	-	-	-	0.25	-	-	-	0.00	-	-
Other Investing Activities, net	0.00	-	-	-	-1.00	-	-	-	0.00	-	-
Net Cash From Financing Activities	146	148	7.01	29	-0.73	3.23	63	14	16	4.30	16
Net Cash From Continuing Financing Activities	146	148	7.01	29	-0.73	3.23	63	14	16	4.70	16
Issuance of Common Equity	146	162	23	30	0.00	2.55	46	-	16	4.25	40
Other Financing Activities, net	-0.49	-0.41	-0.08	-0.58	-0.73	2.55	0.72	0.66	0.79	2.25	-2.83
Effect of Exchange Rate Changes	0.50	-	-	0.02	0.05	-	-	-0.07	-0.02	0.07	0.03

This table presents D-Wave Quantum's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021
Total Assets	200	59	27	29
Total Current Assets	185	47	14	16
Cash & Equivalents	178	41	7.07	9.48
Accounts Receivable	1.42	1.65	0.76	0.42
Inventories, net	1.69	2.08	2.20	2.11
Prepaid Expenses	3.95	2.01	3.64	1.12
Plant, Property, & Equipment, net	4.13	2.55	2.29	3.25
Total Noncurrent Assets	11	9.76	11	10
Intangible Assets	0.49	0.18	0.24	0.27
Other Noncurrent Operating Assets	10	9.58	10	9.93
Total Liabilities & Shareholders' Equity	200	59	27	29
Total Liabilities	137	84	56	48
Total Current Liabilities	30	11	16	10
Short-Term Debt	0.35	0.40	2.28	0.39
Accounts Payable	0.82	1.47	3.76	2.11
Accrued Expenses	8.78	5.34	6.69	3.59
Current Deferred Revenue	19	2.67	1.78	2.67
Other Current Liabilities	1.51	1.37	1.53	1.69
Total Noncurrent Liabilities	107	73	40	37
Long-Term Debt	30	64	31	30
Noncurrent Deferred Revenue	0.67	0.08	0.01	0.05
Other Noncurrent Operating Liabilities	76	8.66	9.19	7.01
Commitments & Contingencies	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	63	-24	-29	-18
Total Preferred & Common Equity	63	-24	-29	-18
Total Common Equity	63	-24	-29	-208
Common Stock	700	469	381	149
Retained Earnings	-627	-483	-400	-347
Accumulated Other Comprehensive Income / (Loss)	-11	-11	-10	-10

This table presents D-Wave Quantum's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	326	50	62	49	70	25	27	34
Total Current Assets	311	35	47	34	58	13	15	21
Cash & Equivalents	304	29	41	27	53	7.51	8.99	14
Accounts Receivable	1.05	1.46	1.57	1.74	0.76	0.80	0.54	0.42
Inventories, net	1.70	1.90	2.13	2.08	2.24	2.33	2.24	2.53
Prepaid Expenses	3.80	2.45	2.35	2.57	1.87	2.20	3.14	4.55
Plant, Property, & Equipment, net	4.00	3.41	3.21	2.91	1.88	1.79	2.04	2.54
Total Noncurrent Assets	11	11	12	12	10	10	11	9.67
Intangible Assets	0.53	0.44	0.41	0.30	0.20	0.21	0.23	0.26
Other Noncurrent Operating Assets	10	11	11	12	9.91	10	10	9.41
Total Liabilities & Shareholders' Equity	326	50	62	49	70	25	27	34
Total Liabilities	118	66	83	86	85	76	58	38
Total Current Liabilities	15	26	43	11	44	34	18	14
Short-Term Debt	0.35	14	33	0.37	30	16	0.98	2.65
Accounts Payable	1.02	0.70	1.17	1.04	1.54	4.11	5.61	2.49
Accrued Expenses	6.56	6.57	5.04	6.01	9.60	11	9.86	5.32
Current Deferred Revenue	5.55	2.91	2.59	2.00	2.18	2.83	1.83	1.67
Other Current Liabilities	1.53	1.58	1.48	1.45	-	-	-	1.46
Total Noncurrent Liabilities	103	41	40	75	42	43	40	24
Long-Term Debt	30	32	31	63	33	32	31	13
Noncurrent Deferred Revenue	0.70	0.06	0.03	0.40	0.09	0.12	0.01	0.00
Other Noncurrent Operating Liabilities	72	8.58	8.90	11	8.86	11	8.42	12
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	207	-17	-22	-37	-15	-52	-31	-4.27
Total Preferred & Common Equity	207	-17	-22	-37	-15	-52	-31	-4.27
Total Common Equity	207	-17	-22	-37	-15	-52	-31	-4.27
Common Stock	850	535	507	474	462	410	405	370
Retained Earnings	-632	-541	-518	-500	-467	-451	-425	-364
Accumulated Other Comprehensive Income / (Loss)	-10	-11	-10	-10	-10	-10	-10	-10

This table displays calculated financial ratios and metrics derived from D-Wave Quantum's official financial filings.

Metric	2024	2023	2022	2021	2020
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Growth Metrics	-	-	-	-	-
Revenue Growth	0.79%	22.10%	14.24%	21.69%	0.00%
EBITDA Growth	-72.63%	-64.85%	-38.04%	-98.04%	0.00%
EBIT Growth	-71.12%	-60.96%	-34.74%	-84.51%	0.00%
NOPAT Growth	4.13%	-35.47%	-52.66%	-23.77%	0.00%
Net Income Growth	-73.95%	-54.03%	-31.07%	-86.52%	0.00%
EPS Growth	-25.00%	-33.33%	-36.36%	-94.12%	0.00%
Operating Cash Flow Growth	29.69%	-34.10%	-29.96%	-18.82%	0.00%
Free Cash Flow Firm Growth	150.52%	-62.35%	-18.40%	0.00%	0.00%
Invested Capital Growth	-5,413.84%	49.98%	-207.29%	0.00%	0.00%
Revenue Q/Q Growth	-6.33%	6.21%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	-92.60%	-0.69%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	-90.53%	-0.24%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	-5.02%	5.18%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	-94.92%	2.58%	0.00%	0.00%	0.00%
EPS Q/Q Growth	-92.31%	13.04%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	28.21%	-6.78%	-8.92%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	151.54%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-79,954.72%	71.54%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-
Gross Margin	63.02%	52.77%	59.25%	72.13%	82.27%
EBITDA Margin	-1,580.89%	-922.96%	-683.59%	-565.71%	-347.60%
Operating Margin	-874.85%	-919.68%	-828.91%	-620.29%	-609.83%
EBIT Margin	-1,602.78%	-944.03%	-716.12%	-607.15%	-400.43%
Profit (Net Income) Margin	-1,629.99%	-944.45%	-748.67%	-652.54%	-425.72%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	101.70%	100.04%	104.55%	107.48%	106.32%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	-1,901.23%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	-2,030.42%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	2,347.65%	0.00%
Return on Equity (ROE)	-753.98%	306.67%	224.61%	446.43%	0.00%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	-2,101.23%	0.00%
Operating Return on Assets (OROA)	-109.16%	-191.60%	-182.10%	-129.37%	0.00%
Return on Assets (ROA)	-111.01%	-191.69%	-190.38%	-139.04%	0.00%
Return on Common Equity (ROCE)	-753.98%	306.67%	1,116.47%	5,064.42%	0.00%
Return on Equity Simple (ROE_SIMPLE)	-229.67%	337.87%	182.27%	223.21%	0.00%
Net Operating Profit after Tax (NOPAT)	-54	-56	-42	-27	-22
NOPAT Margin	-612.39%	-643.78%	-580.24%	-434.20%	-426.88%
Net Nonoperating Expense Percent (NNEP)	-144.22%	106.77%	50.75%	129.19%	0.00%
Return On Investment Capital (ROIC_SIMPLE)	-58.05%	-141.78%	-	-	-
Cost of Revenue to Revenue	36.98%	47.23%	40.75%	27.87%	17.73%
SG&A Expenses to Revenue	367.30%	422.63%	300.28%	189.47%	224.55%
R&D to Revenue	399.91%	432.50%	447.53%	404.54%	395.56%
Operating Expenses to Revenue	937.87%	972.46%	888.16%	692.42%	692.09%
Earnings before Interest and Taxes (EBIT)	-141	-83	-51	-38	-21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-140	-81	-49	-36	-18
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	24.17	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	24.36	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	171.53	11.40	12.67	0.00	0.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	154.82	14.02	16.35	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	46.70	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.49	-2.62	-1.14	-1.67	0.00
Long-Term Debt to Equity	0.48	-2.61	-1.06	-1.65	0.00
Financial Leverage	-3.26	-0.91	-1.00	-1.16	0.00
Leverage Ratio	6.79	-1.60	-1.18	-1.61	0.00
Compound Leverage Factor	6.91	-1.60	-1.23	-1.73	0.00
Debt to Total Capital	32.73%	161.56%	838.79%	248.62%	0.00%
Short-Term Debt to Total Capital	0.37%	1.00%	57.25%	3.18%	0.00%
Long-Term Debt to Total Capital	32.35%	160.56%	781.54%	245.44%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	1,537.37%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	67.27%	-61.56%	-738.79%	-1,685.99%	0.00%
Debt to EBITDA	-0.22	-0.79	-0.68	-0.86	0.00
Net Debt to EBITDA	1.06	-0.28	-0.54	-0.60	0.00
Long-Term Debt to EBITDA	-0.22	-0.79	-0.64	-0.85	0.00
Debt to NOPAT	-0.56	-1.14	-0.80	-1.13	0.00
Net Debt to NOPAT	2.73	-0.41	-0.63	-0.78	0.00
Long-Term Debt to NOPAT	-0.56	-1.13	-0.75	-1.11	0.00
Altman Z-Score	0.87	-14.40	-25.95	0.00	0.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	-397.08%	-1,034.44%	0.00%
Liquidity Ratios	-	-	-	-	-
Current Ratio	6.14	4.18	0.87	1.53	0.00
Quick Ratio	5.95	3.82	0.49	0.95	0.00
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	29	-58	-36	-30	0.00
Operating Cash Flow to CapEx	-1,780.50%	-9,626.83%	-9,081.53%	-1,740.87%	-3,711.91%
Free Cash Flow to Firm to Interest Expense	7.51	-1,565.41	-15.28	-7.51	0.00
Operating Cash Flow to Interest Expense	-10.94	-1,639.16	-19.37	-8.67	-22.44
Operating Cash Flow Less CapEx to Interest Expense	-11.56	-1,656.19	-19.58	-9.17	-23.05
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.07	0.20	0.25	0.21	0.00
Accounts Receivable Turnover	5.75	7.27	12.18	14.91	0.00
Inventory Turnover	1.73	1.94	1.36	0.83	0.00
Fixed Asset Turnover	2.64	3.62	2.59	1.93	0.00
Accounts Payable Turnover	2.86	1.58	1.00	0.83	0.00
Days Sales Outstanding (DSO)	63.51	50.20	29.97	24.47	0.00
Days Inventory Outstanding (DIO)	210.46	188.59	269.10	440.92	0.00
Days Payable Outstanding (DPO)	127.48	230.38	366.19	439.88	0.00
Cash Conversion Cycle (CCC)	146.49	8.41	-67.12	25.52	0.00
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	-85	-1.54	-3.08	2.87	0.00
Invested Capital Turnover	-0.20	-3.79	-68.64	4.38	0.00
Increase / (Decrease) in Invested Capital	-83	1.54	-5.95	2.87	0.00
Enterprise Value (EV)	1,367	123	117	0.00	0.00
Market Capitalization	1,514	100	91	0.00	0.00
Book Value per Share	$0.35	($0.22)	($0.47)	($1.66)	$0.00
Tangible Book Value per Share	$0.34	($0.22)	($0.47)	($1.66)	$0.00
Total Capital	93	40	3.99	12	0.00
Total Debt	30	64	33	31	0.00
Total Long-Term Debt	30	64	31	30	0.00
Net Debt	-148	23	26	21	0.00
Capital Expenditures (CapEx)	2.40	0.63	0.50	2.00	0.79
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-23	-5.11	-6.90	-3.52	0.00
Debt-free Net Working Capital (DFNWC)	155	36	0.17	5.96	0.00
Net Working Capital (NWC)	155	36	-2.12	5.57	0.00
Net Nonoperating Expense (NNE)	90	26	12	14	-0.06
Net Nonoperating Obligations (NNO)	-148	23	26	21	0.00
Total Depreciation and Amortization (D&A)	1.93	1.85	2.33	2.60	2.73
Debt-free, Cash-free Net Working Capital to Revenue	-257.58%	-58.37%	-96.15%	-56.09%	0.00%
Debt-free Net Working Capital to Revenue	1,758.73%	413.28%	2.34%	94.94%	0.00%
Net Working Capital to Revenue	1,754.79%	408.72%	-29.49%	88.68%	0.00%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.75)	($0.60)	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	192.13M	137.99M	0.00	0.00	0.00
Adjusted Diluted Earnings per Share	($0.75)	($0.60)	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	192.13M	137.99M	0.00	0.00	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	287.80M	116.79M	0.00	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	-54	-56	-42	-27	-22
Normalized NOPAT Margin	-612.39%	-643.78%	-580.24%	-434.20%	-426.88%
Pre Tax Income Margin	-1,629.99%	-944.45%	-748.67%	-652.54%	-425.72%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	-36.30	-2,234.54	-22.00	-9.50	-15.83
NOPAT to Interest Expense	-13.87	-1,523.84	-17.82	-6.79	-16.88
EBIT Less CapEx to Interest Expense	-36.92	-2,251.57	-22.21	-10.00	-16.44
NOPAT Less CapEx to Interest Expense	-14.49	-1,540.87	-18.04	-7.29	-17.48
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	-2.47%

This table displays calculated financial ratios and metrics derived from D-Wave Quantum's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	508.56%	-20.54%	-27.01%	27.89%	55.72%	21.39%	51.15%	24.51%	-7.59%	0.00%	29.69%
EBITDA Growth	73.33%	-390.27%	-43.48%	36.43%	26.41%	-3.29%	-37.92%	-134.28%	-117.94%	0.00%	-135.98%
EBIT Growth	70.87%	-381.26%	-42.82%	35.73%	26.30%	-1.11%	-36.80%	-127.56%	-110.57%	0.00%	-113.18%
NOPAT Growth	35.54%	-22.31%	-12.11%	9.89%	29.06%	21.00%	-21.39%	-68.56%	-125.46%	0.00%	-54.85%
Net Income Growth	68.69%	-437.51%	-41.02%	32.12%	29.07%	12.02%	-38.25%	-112.97%	-111.25%	0.00%	-176.79%
EPS Growth	81.82%	-514.29%	8.33%	52.38%	45.00%	56.25%	-20.00%	-110.00%	-122.22%	0.00%	-233.33%
Operating Cash Flow Growth	-59.08%	113.68%	-7.16%	6.48%	10.72%	-35.38%	-31.36%	-29.02%	-42.75%	-51.52%	-74.77%
Free Cash Flow Firm Growth	407.90%	627.21%	-93.01%	-30,243.21%	-86.04%	0.00%	-30.13%	100.70%	0.00%	0.00%	0.00%
Invested Capital Growth	-7,699.41%	-5,413.84%	98.04%	115.80%	88.29%	49.98%	-96.40%	-398.19%	0.00%	0.00%	0.00%
Revenue Q/Q Growth	549.68%	23.48%	-14.34%	-11.44%	-15.18%	13.43%	50.09%	7.83%	-33.88%	41.24%	23.63%
EBITDA Q/Q Growth	94.54%	-303.75%	-31.87%	8.18%	3.28%	-18.16%	41.58%	-6.31%	-40.75%	-57.77%	0.75%
EBIT Q/Q Growth	93.94%	-297.97%	-30.76%	7.69%	3.29%	-18.10%	41.16%	-5.87%	-37.43%	-59.79%	2.12%
NOPAT Q/Q Growth	44.19%	1.96%	-9.54%	-7.55%	-5.89%	10.13%	11.96%	15.32%	-17.91%	-38.09%	-22.26%
Net Income Q/Q Growth	93.70%	-278.99%	-27.75%	-2.69%	-8.11%	0.57%	38.50%	-7.31%	-34.08%	-56.24%	5.26%
EPS Q/Q Growth	95.35%	-290.91%	-10.00%	9.09%	-57.14%	41.67%	42.86%	-5.00%	-25.00%	-60.00%	0.00%
Operating Cash Flow Q/Q Growth	-1,055.83%	111.16%	-24.92%	-19.38%	17.78%	12.61%	-9.02%	-13.97%	-24.68%	15.21%	-7.09%
Free Cash Flow Firm Q/Q Growth	-16.91%	450.23%	23.92%	-39.06%	-42.28%	-28.21%	-11,982.58%	100.86%	0.00%	100.00%	36.49%
Invested Capital Q/Q Growth	21.97%	-79,954.72%	-106.09%	305.18%	44.83%	71.54%	50.95%	-52.03%	-135.65%	-11.77%	-174.47%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	92.51%	63.79%	55.78%	63.58%	67.30%	67.69%	59.68%	41.30%	26.60%	56.85%	61.42%
EBITDA Margin	-30.94%	-3,684.97%	-1,126.95%	-732.07%	-706.04%	-597.21%	-573.30%	-1,472.82%	-1,493.94%	-701.84%	-628.32%
Operating Margin	-75.27%	-876.22%	-1,103.53%	-862.99%	-710.59%	-569.24%	-718.46%	-1,224.78%	-1,559.70%	-874.69%	-894.63%
EBIT Margin	-34.63%	-3,709.83%	-1,151.02%	-754.05%	-723.41%	-612.49%	-588.25%	-1,500.53%	-1,528.36%	-735.34%	-649.97%
Profit (Net Income) Margin	-36.14%	-3,727.89%	-1,214.55%	-814.38%	-702.31%	-551.07%	-628.65%	-1,534.21%	-1,541.76%	-760.32%	-687.32%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	104.35%	100.49%	105.52%	108.00%	97.08%	89.97%	106.87%	102.24%	100.88%	103.40%	105.75%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-154.89%	-753.98%	460.86%	184.02%	223.67%	306.67%	875.92%	224.64%	217.07%	224.61%	0.00%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	-3,598.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-3.95%	-252.67%	-181.18%	-175.92%	-183.36%	-124.31%	-93.43%	-365.46%	-392.01%	-186.99%	0.00%
Return on Assets (ROA)	-4.13%	-253.90%	-191.18%	-190.00%	-178.02%	-111.84%	-99.85%	-373.67%	-395.45%	-193.34%	0.00%
Return on Common Equity (ROCE)	-154.89%	-753.98%	460.86%	184.02%	223.67%	306.67%	875.92%	820.17%	217.07%	1,116.47%	0.00%
Return on Equity Simple (ROE_SIMPLE)	-63.64%	0.00%	436.39%	312.40%	204.62%	0.00%	561.56%	156.11%	217.07%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-7.90	-14	-14	-13	-12	-12	-13	-15	-17	-15	-11
NOPAT Margin	-52.69%	-613.36%	-772.47%	-604.09%	-497.41%	-398.47%	-502.92%	-857.35%	-1,091.79%	-612.28%	-626.24%
Net Nonoperating Expense Percent (NNEP)	2.09%	-115.47%	62.34%	14.40%	16.97%	17.98%	57.39%	35.94%	60.86%	13.43%	136.75%
Return On Investment Capital (ROIC_SIMPLE)	-3.32%	-15.21%	-	-	-	-29.12%	-	-	-	-	-
Cost of Revenue to Revenue	7.49%	36.21%	44.22%	36.42%	32.70%	32.31%	40.32%	58.70%	73.40%	43.15%	38.58%
SG&A Expenses to Revenue	53.04%	351.93%	495.13%	342.24%	306.94%	280.08%	312.37%	560.98%	713.58%	334.54%	349.56%
R&D to Revenue	68.58%	422.35%	463.53%	382.73%	345.84%	273.78%	369.20%	559.34%	689.51%	431.75%	442.89%
Operating Expenses to Revenue	167.78%	940.02%	1,159.30%	926.57%	777.89%	636.92%	778.14%	1,266.08%	1,586.29%	931.54%	956.05%
Earnings before Interest and Taxes (EBIT)	-5.20	-86	-22	-16	-18	-18	-15	-26	-24	-18	-11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-4.64	-85	-21	-16	-17	-17	-15	-25	-24	-17	-11
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	10.55	24.17	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	10.57	24.36	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	102.39	171.53	16.44	14.24	24.72	11.40	11.57	22.83	5.95	12.67	0.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	96.06	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	89.58	154.82	18.23	16.54	28.46	14.02	12.75	28.32	9.27	16.35	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	122.13	46.70	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.15	0.49	-2.72	-2.98	-1.72	-2.62	-4.17	-0.93	-1.06	-1.14	-3.58
Long-Term Debt to Equity	0.15	0.48	-1.89	-1.46	-1.71	-2.61	-2.17	-0.62	-1.02	-1.06	-2.96
Financial Leverage	-1.39	-3.26	-0.83	-0.87	-0.88	-0.91	-0.58	-0.90	-0.76	-0.90	-0.35
Leverage Ratio	2.20	6.79	-3.74	-1.19	-1.12	-1.60	-5.36	-0.85	-0.90	-1.18	-7.89
Compound Leverage Factor	2.29	6.82	-3.94	-1.28	-1.09	-1.44	-5.72	-0.87	-0.90	-1.22	-8.34
Debt to Total Capital	12.90%	32.73%	157.99%	150.50%	239.70%	161.56%	131.56%	-1,368.12%	1,865.11%	838.79%	138.75%
Short-Term Debt to Total Capital	0.15%	0.37%	48.24%	76.68%	1.39%	1.00%	63.03%	-458.63%	56.65%	57.25%	24.09%
Long-Term Debt to Total Capital	12.75%	32.35%	109.75%	73.82%	238.30%	160.56%	68.52%	-909.49%	1,808.46%	781.54%	114.67%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	87.10%	67.27%	-57.99%	-50.50%	-139.70%	-61.56%	-31.56%	1,468.12%	-1,765.11%	-738.79%	-38.75%
Debt to EBITDA	-0.24	-0.22	-0.64	-0.97	-0.84	-0.79	-0.79	-0.63	-0.52	-0.68	0.00
Net Debt to EBITDA	2.16	1.06	-0.23	-0.35	-0.48	-0.28	-0.12	-0.53	-0.38	-0.54	0.00
Long-Term Debt to EBITDA	-0.24	-0.22	-0.44	-0.48	-0.84	-0.79	-0.41	-0.42	-0.51	-0.64	0.00
Debt to NOPAT	-0.62	-0.56	-0.90	-1.28	-1.23	-1.14	-1.06	-0.84	-0.63	-0.80	0.00
Net Debt to NOPAT	5.51	2.73	-0.33	-0.47	-0.70	-0.41	-0.16	-0.71	-0.46	-0.63	0.00
Long-Term Debt to NOPAT	-0.61	-0.56	-0.62	-0.63	-1.23	-1.13	-0.55	-0.56	-0.61	-0.75	0.00
Altman Z-Score	9.49	1.79	-14.90	-11.34	-13.19	-10.80	-8.99	-28.13	-24.02	-21.82	0.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-265.11%	0.00%	-397.08%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	20.73	6.14	1.36	1.09	3.10	4.18	1.34	0.38	0.82	0.87	1.58
Quick Ratio	20.36	5.95	1.19	0.99	2.67	3.82	1.24	0.25	0.52	0.49	1.04
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	57	69	-20	-26	-19	-13	-10	0.09	-10	0.00	-7.86
Operating Cash Flow to CapEx	-3,871.29%	209.45%	-4,897.83%	-2,093.78%	-3,257.80%	-3,246.48%	-17,387.63%	-103,133.33%	-21,209.38%	-5,981.87%	-13,102.04%
Free Cash Flow to Firm to Interest Expense	254.27	165.84	-16.73	-22.37	-16.37	0.00	-9.88	0.15	-47.32	0.00	-12.42
Operating Cash Flow to Interest Expense	-85.31	4.84	-15.32	-12.47	-10.63	0.00	-16.30	-26.90	-64.03	-18.21	-20.28
Operating Cash Flow Less CapEx to Interest Expense	-87.51	2.53	-15.63	-13.07	-10.96	0.00	-16.39	-26.93	-64.33	-18.51	-20.44
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.11	0.07	0.16	0.23	0.25	0.20	0.16	0.24	0.26	0.25	0.00
Accounts Receivable Turnover	15.36	5.75	8.49	8.53	8.47	7.27	13.95	8.58	12.99	12.18	0.00
Inventory Turnover	1.89	1.73	1.62	1.61	1.75	1.94	1.77	1.72	1.55	1.36	0.00
Fixed Asset Turnover	6.19	2.64	3.56	4.04	3.89	3.62	3.73	3.23	3.45	2.59	0.00
Accounts Payable Turnover	3.48	2.86	3.01	1.35	1.14	1.58	2.10	1.17	0.62	1.00	0.00
Days Sales Outstanding (DSO)	23.77	63.51	42.97	42.81	43.11	50.20	26.16	42.56	28.09	29.97	0.00
Days Inventory Outstanding (DIO)	192.64	210.46	224.78	227.35	208.52	188.59	206.10	211.98	235.69	269.10	0.00
Days Payable Outstanding (DPO)	104.85	127.48	121.25	269.38	320.82	230.38	173.78	312.25	590.06	366.19	0.00
Cash Conversion Cycle (CCC)	111.55	146.49	146.50	0.77	-69.19	8.41	58.48	-57.71	-326.28	-67.12	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-66	-85	-0.11	1.74	-0.85	-1.54	-5.41	-11	-7.25	-3.08	-2.75
Invested Capital Turnover	-0.64	-0.20	-3.42	-2.18	-2.38	-3.79	-2.02	-2.01	-1.94	-2.33	0.00
Increase / (Decrease) in Invested Capital	-65	-83	5.30	13	6.40	1.54	-2.65	-15	-7.25	0.00	-2.75
Enterprise Value (EV)	1,914	1,367	172	167	274	123	105	209	65	117	486
Market Capitalization	2,187	1,514	155	144	238	100	95	168	42	91	485
Book Value per Share	$0.72	$0.35	($0.11)	($0.17)	($0.32)	($0.22)	($0.15)	($0.64)	($0.49)	($0.47)	($0.07)
Tangible Book Value per Share	$0.72	$0.34	($0.11)	($0.17)	($0.32)	($0.22)	($0.15)	($0.64)	($0.49)	($0.47)	($0.07)
Total Capital	238	93	29	43	26	40	48	-3.51	1.74	3.99	11
Total Debt	31	30	46	64	63	64	63	48	32	33	15
Total Long-Term Debt	30	30	32	31	63	64	33	32	31	31	13
Net Debt	-274	-148	17	23	36	23	9.71	41	23	26	1.51
Capital Expenditures (CapEx)	0.50	0.96	0.37	0.69	0.37	0.45	0.10	0.02	0.06	0.18	0.10
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-8.11	-23	-5.95	-4.23	-4.11	-5.11	-8.45	-12	-11	-6.90	-3.25
Debt-free Net Working Capital (DFNWC)	296	155	23	37	23	36	45	-4.89	-2.38	0.17	11
Net Working Capital (NWC)	296	155	9.25	3.97	23	36	15	-21	-3.37	-2.12	7.86
Net Nonoperating Expense (NNE)	-2.48	72	8.27	4.59	5.05	4.43	3.22	12	7.12	3.54	1.04
Net Nonoperating Obligations (NNO)	-274	-148	17	23	36	23	9.71	41	23	26	1.51
Total Depreciation and Amortization (D&A)	0.55	0.57	0.45	0.48	0.43	0.44	0.38	0.47	0.55	0.80	0.37
Debt-free, Cash-free Net Working Capital to Revenue	-37.95%	-257.58%	-63.17%	-41.81%	-42.61%	-58.37%	-102.41%	-168.11%	-161.44%	-96.15%	0.00%
Debt-free Net Working Capital to Revenue	1,386.57%	1,758.73%	247.46%	362.11%	240.62%	413.28%	544.17%	-66.28%	-33.82%	2.34%	0.00%
Net Working Capital to Revenue	1,384.95%	1,754.79%	98.16%	39.20%	236.79%	408.72%	177.94%	-284.44%	-47.79%	-29.49%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.02)	($0.43)	($0.11)	($0.10)	($0.11)	($0.07)	$0.00	$0.00	$0.00	($0.16)	$0.00
Adjusted Weighted Average Basic Shares Outstanding	286.42M	192.13M	201.59M	172.14M	161.31M	137.99M	0.00	0.00	0.00	119.65M	0.00
Adjusted Diluted Earnings per Share	($0.02)	($0.43)	($0.11)	($0.10)	($0.11)	($0.07)	$0.00	$0.00	$0.00	($0.16)	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	286.42M	192.13M	201.59M	172.14M	161.31M	137.99M	0.00	0.00	0.00	119.65M	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	288.67M	287.80M	180.25M	157.67M	126.38M	116.79M	0.00	0.00	0.00	80.39M	0.00
Normalized Net Operating Profit after Tax (NOPAT)	-7.90	-14	-14	-13	-12	-12	-13	-15	-17	-15	-11
Normalized NOPAT Margin	-52.69%	-613.36%	-772.47%	-604.09%	-497.41%	-398.47%	-502.92%	-857.35%	-1,091.79%	-612.28%	-626.24%
Pre Tax Income Margin	-36.14%	-3,727.89%	-1,214.55%	-814.38%	-702.31%	-551.07%	-628.65%	-1,534.21%	-1,541.76%	-760.32%	-687.32%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-22.99	-205.42	-18.24	-14.19	-15.64	0.00	-14.56	-44.55	-114.12	-29.44	-17.40
NOPAT to Interest Expense	-34.97	-33.96	-12.24	-11.37	-10.76	0.00	-12.45	-25.45	-81.52	-24.51	-16.77
EBIT Less CapEx to Interest Expense	-25.19	-207.73	-18.55	-14.79	-15.97	0.00	-14.66	-44.57	-114.42	-29.74	-17.56
NOPAT Less CapEx to Interest Expense	-37.18	-36.27	-12.55	-11.96	-11.08	0.00	-12.54	-25.48	-81.83	-24.82	-16.92
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About D-Wave Quantum's Financials

When does D-Wave Quantum's financial year end?

According to the most recent income statement we have on file, D-Wave Quantum's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has D-Wave Quantum's net income changed over the last 4 years?

D-Wave Quantum's net income appears to be on an upward trend, with a most recent value of -$143.88 million in 2024, rising from -$21.97 million in 2020. The previous period was -$82.72 million in 2023. Check out D-Wave Quantum's forecast to explore projected trends and price targets.

What is D-Wave Quantum's operating income?

D-Wave Quantum's total operating income in 2024 was -$77.22 million, based on the following breakdown:

Total Gross Profit: $5.56 million
Total Operating Expenses: $82.79 million

How has D-Wave Quantum revenue changed over the last 4 years?

Over the last 4 years, D-Wave Quantum's total revenue changed from $5.16 million in 2020 to $8.83 million in 2024, a change of 71.1%.

How much debt does D-Wave Quantum have?

D-Wave Quantum's total liabilities were at $137.21 million at the end of 2024, a 63.7% increase from 2023, and a 186.9% increase since 2021.

How much cash does D-Wave Quantum have?

In the past 3 years, D-Wave Quantum's cash and equivalents has ranged from $7.07 million in 2022 to $177.98 million in 2024, and is currently $177.98 million as of their latest financial filing in 2024.

How has D-Wave Quantum's book value per share changed over the last 4 years?

Over the last 4 years, D-Wave Quantum's book value per share changed from 0.00 in 2020 to 0.35 in 2024, a change of 34.8%.

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This page (NYSE:QBTS) was last updated on 6/1/2025 by MarketBeat.com Staff

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D-Wave Quantum (QBTS) Financials

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