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D-Wave Quantum (QBTS) Financials

D-Wave Quantum logo
$7.01 -0.24 (-3.31%)
As of 04/14/2025 03:58 PM Eastern
Annual Income Statements for D-Wave Quantum

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

Quarterly Income Statements for D-Wave Quantum

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

Annual Cash Flow Statements for D-Wave Quantum

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

Quarterly Cash Flow Statements for D-Wave Quantum

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 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Change in Cash & Equivalents
3.30 -6.70 1.92 -1.47 46 -12 -14 14 -12 149
Net Cash From Operating Activities
-13 -11 -14 -15 -17 -15 -12 -14 -18 2.02
Net Cash From Continuing Operating Activities
-13 -11 -14 -15 -17 -15 -12 -14 -18 2.02
Net Income / (Loss) Continuing Operations
-12 -18 -24 -26 -16 -16 -17 -18 -23 -86
Consolidated Net Income / (Loss)
-12 -18 -24 -26 -16 -16 -17 -18 -23 -86
Depreciation Expense
0.33 0.39 0.34 0.26 0.23 0.23 0.23 0.28 0.28 0.32
Amortization Expense
0.03 0.42 0.21 0.21 0.16 0.22 0.20 0.20 0.17 0.26
Non-Cash Adjustments To Reconcile Net Income
-0.59 1.51 6.40 9.26 2.75 4.78 3.40 3.30 2.43 69
Changes in Operating Assets and Liabilities, net
-0.81 4.49 3.89 0.98 -3.89 -3.95 1.36 -0.47 1.76 18
Net Cash From Investing Activities
-0.10 -0.18 -0.08 -0.00 -0.10 -0.45 -1.21 -0.60 -0.37 -0.96
Net Cash From Continuing Investing Activities
-0.10 -0.18 -0.08 -0.00 -0.10 -0.45 -1.21 -0.60 -0.37 -0.96
Purchase of Property, Plant & Equipment
-0.10 -0.18 -0.06 -0.02 -0.10 -0.45 -0.37 -0.69 -0.37 -0.96
Net Cash From Financing Activities
16 4.30 16 14 63 3.23 -0.73 29 7.01 148
Net Cash From Continuing Financing Activities
16 4.70 16 14 63 3.23 -0.73 29 7.01 148
Repayment of Debt
-21 -1.51 -0.88 -0.95 1.45 -1.87 0.00 -0.37 -16 -14
Issuance of Common Equity
40 4.25 16 - 46 2.55 0.00 30 23 162
Other Financing Activities, net
-2.83 2.25 0.79 0.66 0.72 2.55 -0.73 -0.58 -0.08 -0.41
Cash Interest Paid
- - - - - - - - - 0.88

Annual Balance Sheets for D-Wave Quantum

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

Quarterly Balance Sheets for D-Wave Quantum

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

Annual Metrics and Ratios for D-Wave Quantum

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

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

Quarterly Metrics and Ratios for D-Wave Quantum

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

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

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 4/15/2025 by MarketBeat.com Staff
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