D-Wave Quantum Inc.
D-Wave Reports Fourth Quarter and Full Year 2023 Financial Results
Summary
D-Wave Quantum Inc. announced its financial results for the fiscal fourth quarter and full year ended December 31, 2023, reporting increased revenue and bookings year over year. The company posted Q4 revenue of $2.9 million, up 21% from Q4 2022, and full-year revenue of $8.8 million, up 22% from 2022. Bookings also rose, with Q4 bookings of $3.1 million, up 34% year over year, and full-year bookings of $11.5 million, up 89% from 2022. Despite these increases, D-Wave reported a net loss for the full year of $82.7 million and an Adjusted EBITDA loss of $54.3 million. The company expects its fiscal 2024 Adjusted EBITDA Loss to be less than the fiscal 2023 Adjusted EBITDA Loss of $54.3 million.
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About D-Wave Quantum Inc.
D-Wave Quantum Inc. is a leading developer and provider of quantum computing systems, software, and services with a unique focus on addressing real-world complex computational challenges. As a pioneer in the commercial quantum computing space, the company is dedicated to advancing both hardware and software solutions to fuel new possibilities in data processing and optimization. D-Wave’s quantum systems are utilized across various industries, including manufacturing, logistics, pharmaceuticals, and financial services, fostering advancements in machine learning, modeling, and optimization problems. Notably, the company’s platform integrates with conventional computing systems, providing hybrid quantum solutions that enhance processing efficiency. D-Wave Quantum Inc.’s contributions are pivotal in steering the technological curve towards quantum advantage, allowing businesses and researchers to explore new horizons in computational capabilities. By offering quantum cloud services, the company lowers the barrier for organizations to access and benefit from cutting-edge quantum technology. Headquartered in Burnaby, Canada, D-Wave continues to be a significant player in the tech industry, aggressively pushing the boundaries of quantum computing and establishing itself as a key influencer in the evolution of computing paradigms.
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