Financial Data and Key Metrics Changes - Revenue for Q3 2024 totaled $1.9 million, a decrease of approximately $700,000 or 27% from Q3 2023 revenue of $2.6 million [24] - GAAP gross profit for Q3 was $1 million, a decrease of $500,000 or 32% from Q3 2023 gross profit of $1.5 million [30] - Net loss for Q3 was $22.7 million or $0.11 per share compared to a net loss of $16.1 million or $0.12 per share in Q3 2023 [33] - Adjusted EBITDA loss for Q3 was $13.8 million, an increase of $2.2 million or 19% compared to the adjusted EBITDA loss of $11.6 million in Q3 2023 [34] Business Line Data and Key Metrics Changes - QCaaS revenue for Q3 was $1.6 million, an increase of $500,000 or 41% from Q3 2023 QCaaS revenue of $1.1 million [24] - Professional services revenue for Q3 was $300,000, a decrease of $1 million or 80% from Q3 2023 professional services revenue of $1.3 million [25] - Bookings for Q3 totaled $2.3 million, a decrease of $600,000 or 22% compared to Q3 2023 bookings of $2.9 million [26] Market Data and Key Metrics Changes - Revenue from government customers increased by $800,000 or 66% compared to the previous four quarters [29] - Revenue from research customers increased by $600,000 or 47% compared to the previous four quarters [29] - Revenue from commercial customers decreased slightly by $200,000 or 4% compared to the previous four quarters [29] Company Strategy and Development Direction - The company is focused on expanding its go-to-market organization, having filled 11 positions across various regions [27] - D-Wave aims to be the first independent publicly held quantum computing company to achieve sustained profitability with less funding than competitors [41] - The company is exploring generative AI architectures that utilize quantum processing units for model training and inference [11] Management's Comments on Operating Environment and Future Outlook - Management noted increasing interest in quantum technology and believes that annealing quantum computing is critical for commercial adoption [7] - The company is optimistic about the potential for government funding through the re-authorization of the National Quantum Initiative [50] - Management highlighted the significant progress with NTT DOCOMO and the potential for increased QCaaS revenue as applications move into production [46] Other Important Information - D-Wave has been deemed awardable on the U.S. Department of Defense's Tradewinds buying platform, facilitating easier procurement of their products [17] - The company has nearly $30 million in cash and has paid off a $50 million secured term loan [22][41] - D-Wave's Leap quantum cloud service has consistently exceeded 99.9% availability over the past two years [12] Q&A Session Summary Question: Timing for NTT DOCOMO moving to production - Management confirmed that NTT DOCOMO is planning to move applications into production but has not disclosed a timeline [46] Question: Insights on government business momentum - Management noted significant interest from U.S. government agencies and highlighted the importance of being deemed awardable on the Tradewinds platform [51] Question: Impact of recent research on encryption from China - Management clarified that while the research is interesting, it does not pose a current threat to existing cryptographic systems [58] Question: Potential for government budget tightening - Management indicated that any potential budget tightening would likely impact gate model providers more than D-Wave, which has focused on commercial revenue [94]

D-Wave Quantum Inc. (QBTS) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to loss of $0.12 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -10%. A quarter ago, it was expected that this company would post a loss of $0.10 per share when it actually produced a loss of $0.10, delivering no surprise.Over the last four quarters, the company has not been able t ...

LOS ANGELES, Aug. 12, 2024 (GLOBE NEWSWIRE) -- via IBN -- D-Wave Quantum Inc. (NYSE: QBTS) ("D-Wave" or the "Company"), a leader in quantum computing systems, software, and services, and the world's first commercial supplier of quantum computers, today announced that it has been featured in a broadcast via NetworkNewsAudio ("NNA"), which delivers additional visibility, recognition and brand awareness to the investment community via distribution to thousands of syndication points. The audio news release cove ...

D-Wave Quantum Inc. (QBTS) came out with a quarterly loss of $0.10 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.14 per share a year ago. These figures are adjusted for nonrecurring items. A quarter ago, it was expected that this company would post a loss of $0.08 per share when it actually produced a loss of $0.11, delivering a surprise of -37.50%. Over the last four quarters, the company has not been able to surpass consensus EPS estimates. D-WAVE QUANTUM, which belongs ...

The Stock2Me Podcast features a fascinating array of companies and individuals, many of whom are actively revolutionizing antiquated business practices within their respective markets. The latest podcast episode features Murray Thom, Vice President of Quantum Technology Evangelism at D-Wave Quantum Inc. (NYSE:QBTS) ("D-Wave"), a leader in quantum computing systems, software and services focused on delivering customer value via practical quantum applications for problems within logistics, artificial intellig ...

BOSTON, June 18, 2024 (GLOBE NEWSWIRE) -- Zapata Computing, Inc. ("Zapata AI") (Nasdaq: ZPTA), the Industrial Generative AI company, today announced that its paper on early fault tolerant quantum algorithms has been published in PRX Quantum, a highly selective journal that publishes research with an emphasis on outstanding and lasting impact. The paper, titled "Early Fault-Tolerant Quantum Computing" provides a unique, quantitative perspective that bridges the theoretical ideal of fault tolerant quantum com ...

Zorio and Cao to host fireside chat at 3:50pm EDT that will be moderated by The Boston Globe's Aaron Pressman Qubits is considered one of the top quantum computing conferences in the world and brings together hundreds of industry experts. The conference showcases "success powered by quantum" through business optimization use cases, progress in quantum-fueled AI technology, and demonstrations of annealing quantum computing performance over classical computing. The event features demos of real-world quantum a ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________ FORM 10-Q ________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ and ____________ Commission file number 001-41468 D-WAVE QUANTUM INC. (Exact n ...

D-Wave Quantum Inc. (NYSE:QBTS) Q1 2024 Earnings Conference Call May 13, 2024 8:00 AM ET Company Participants Kevin Hunt - Investor Relations Alan Baratz - Chief Executive Officer John Markovich - Chief Financial Officer Conference Call Participants Harsh Kumar - Piper Sandler Quinn Bolton - Needham David Williams - Benchmark Richard Shannon - Craig-Hallum Suji Desilva - ROTH MKM Kevin Garrigan - Westpark Capital Craig Ellis - B. Riley Securities Operator Good day, everyone, and welcome to the D-Wave First ...

D-Wave Quantum Inc. (QBTS) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to loss of $0.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -37.50%. A quarter ago, it was expected that this company would post a loss of $0.10 per share when it actually produced a loss of $0.10, delivering no surprise.Over the last four quarters, the company has not been abl ...