D-Wave Quantum Inc.
D-Wave Reports Strong Bookings and Flat Revenue for 2024
Summary
D-Wave Quantum Inc. reported its financial results for the fiscal year and fourth quarter of 2024, with a focus on bookings and non-GAAP financial metrics. The company experienced significant growth in bookings, reaching $23.9 million for the full year and $18.3 million for Q4 2024. Despite revenue remaining flat year-over-year, the company improved its GAAP and non-GAAP gross margins. The net loss increased due to a non-cash charge related to warrant liability. Key business highlights include demonstrating quantum computational supremacy and expanding partnerships. The company also announced its cash position exceeded $300 million.
Profitelligence Alerts
Get alerts for QBTS
Be first to know when D-Wave Quantum Inc. files with the SEC.
Filing Categories
Exhibits (2)
Advertisement
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.
Official SEC Documents
Advertisement