Exhibit 99.1 D-Wave Reports First Quarter 2024 Results Q1 Revenue up 56%Year over Year Q1 Bookings up 54% Year over Year Gross Profit up 294% Year over Year PALO ALTO, Calif. – May 13, 2024 – D-Wave Quantum Inc., (NYSE: QBTS) ("D-Wave" or the "Company") a leader in commercial quantum computing systems, software, and services, today announced financial results for its first fiscal quarter ended March 31, 2024. "D-Wave's first quarter revenue and bookings reflect growing customer demand for quantum and hybrid ...

For the fiscal year ended December 31, 2023 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ For the transition period from _______________ to _______________ Commission file number 001-41468 D-Wave Quantum Inc. (Exact name of registrant as specified in its charter) De ...

D-Wave Quantum Inc. (NYSE:QBTS) Q4 2023 Earnings Conference Call March 28, 2024 8:00 AM ET Company Participants Kevin Hunt - Investor Relations Alan Baratz - Chief Executive Officer John Markovich - Chief Financial Officer Conference Call Participants Suji Desilva - ROTH MKM David Williams - Benchmark Harsh Kumar - Piper Sandler Richard Shannon - Craig-Hallum Quinn Bolton - Needham & Company Kevin Garrigan - WestPark Capital Craig Ellis - B. Riley Securities Operator Good day, everyone, and welcome to the D ...

• Bolstered the executive leadership team and Board of Directors to drive rapid growth and deliver strategic execution with the addition of Lorenzo Martinelli, Chief Revenue Officer, the promotion of Dr. Trevor Lanting to Chief Development Officer, and the addition of Secretary Kirstjen Nielsen, former Secretary of Homeland Security, to the Board of Directors. • Entered into a multi-year strategic collaboration with Zapata AI to advance quantum-enabled machine learning, initially focused on building quantum ...

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 September 30, 2023 Table of Contents 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. (Exa ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________ For the transition period from ___________ and ____________ Commission file number 001-41468 D-WAVE QUANTUM INC. (Exact name of registrant as specified in its charter) ________________________ (State or other jurisdiction of incorporation or organization) 3033 Beta Avenue, Burnaby, British Columbia, Canada V5G 4M9 FORM 10-Q ________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECT ...

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, 2023 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 ...

Financial Data and Key Metrics Changes - Revenue in Q1 2023 was $1.6 million, a decrease of $129,000 or 7.5% compared to Q1 2022 [10] - Non-GAAP gross profit for Q1 was $852,000, a decrease of $317,000 or 27.1% from $1.2 million in Q1 2022 [14] - GAAP operating expenses in Q1 were $25.1 million, compared to $12 million in the same period last year [15] - Net loss for Q1 was $24.6 million or $0.20 per share, compared to a net loss of $11.7 million or $0.09 per share in Q1 2022 [51] - Adjusted EBITDA for Q1 was a negative $16.9 million, compared to a negative $9.8 million in Q1 2022 [51] Business Line Data and Key Metrics Changes - Quantum Computing as a Service (QCaaS) revenue totaled $1.2 million in Q1, representing 74% of total revenue, down from 81% in the previous year [11] - Bookings for Q1 were $2.9 million, an increase of 297% compared to Q1 2022, marking the fifth consecutive quarter of growth [24][31] - The average deal size for QCaaS and Professional Services combined increased by 430% year-over-year and by 68% sequentially from Q4 to Q1 [6] Market Data and Key Metrics Changes - The company has 65 revenue-producing commercial customers, up from 63 in the previous four quarters, with commercial revenue increasing by 30% [13] - Total customers, including commercial, educational, and government accounts, increased to 109 from 106 in the previous four quarters [13] Company Strategy and Development Direction - D-Wave is positioned as the only company offering quantum annealing technology commercially, aiming to accelerate the adoption of quantum computing [4] - The company is focusing on integrating quantum technology with artificial intelligence and machine learning to optimize business processes [8] - D-Wave is developing its next-generation system, Advantage 2, which is expected to feature over 7,000 qubits and improved coherence [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving revenue guidance of $12 million to $13 million for the full fiscal year, representing year-over-year growth of 67% to 80% [17] - The company noted that customer interest in quantum computing is growing, with many companies recognizing the need to adopt quantum solutions now [85] - Management emphasized that the sales cycle is shortening, with more inbound inquiries leading to faster deal closures [48][90] Other Important Information - D-Wave raised approximately $20 million under the Equity Line of Credit (ELOC), including $15.7 million in Q1 2023 [16] - The company completed a $50 million secured term loan agreement, with an initial advance of $15 million received [52] Q&A Session Summary Question: What are the drivers behind the revenue recognition for professional services? - Management clarified that the complexity of professional services agreements affects revenue recognition timing, but there have been no fundamental changes in agreement structures [19] Question: How is the company addressing issues related to AI hallucinations? - Management indicated that their feature selection work in AI could help mitigate hallucinations by filtering out irrelevant data [40][59] Question: What is the outlook for deal sizes and customer engagement? - Management noted that while deal sizes are increasing, the focus is on helping current customers move to production and upselling services [82] Question: How does the company plan to achieve its EBITDA guidance? - Management stated that achieving the EBITDA target will depend on revenue growth and improved gross margins as the mix shifts towards higher-margin QCaaS [106] Question: Is the economic environment impacting the sales cycle? - Management reported no significant impact from the economic environment, with increased awareness of D-Wave's commercial quantum computing capabilities [72]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission file number 001-41468 D-Wave Quantum Inc. (Exact name of registrant as specified in its charter) (Sta ...

D-Wave Quantum Inc. (NYSE:QBTS) Q3 2022 Earnings Call Transcript November 10, 2022 8:00 AM ET Company Participants Kevin Hunt - Investor Relations Alan Baratz - Chief Executive Officer John Markovich - Chief Financial Officer Conference Call Participants David Williams - Benchmark Harsh Kumar - Piper Sandler Suji Desilva - Roth Capital Richard Shannon - Craig-Hallum Kevin Garrigan - WestPark Capital Operator Good morning, and welcome to the D-Wave Third Quarter Earnings Call. All participants will be in lis ...