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QBTS: financial statements from SEC — TradeAlmanac

QBTS

D-Wave Quantum Inc.: financial statements

Company reports as filed with the U.S. Securities and Exchange Commission.

AnnualQuarterly

Income statement

Metric	31/12/2025	31/12/2024
Revenue	25M	9M
Cost of revenue	4M	3M
Gross profit	20M	6M
Research and development	51M	35M
Selling, general and administrative	41M	32M
Operating expenses	121M	83M
Operating income	−100M	−77M
Net income	−355M	−144M
Earnings per share	−1.11	−0.75
Earnings per share, diluted	−1.11	−0.75
Weighted average shares	321M	192M
Weighted average shares, diluted	321M	192M

Balance sheet

Metric	31/03/2026	31/12/2025	30/09/2025	30/06/2025	31/03/2025	31/12/2024	30/09/2024	30/06/2024
Cash and equivalents	338M	635M	836M	819M	304M	178M	29M	41M
Short-term investments	250M	249M

Cash flow

Metric	31/12/2025	31/12/2024
Operating cash flow	−72M	−43M
Depreciation and amortisation	2M	1M
Share-based compensation	23M	16M
Capital expenditure	4M	2M
Investing cash flow	−251M	−3M
Financing cash flow	779M

Amounts in USD unless stated otherwise. Data: US exchange trading and company filings with the regulator