D-Wave Quantum (QBTS) - 2025 Q1 - Quarterly Results

Exhibit 99.1 Recent Business and Technical Highlights • Announced record revenue of $15.0 million for the first quarter of fiscal 2025. This is an increase of $12.5 million, or 509%, from revenue of $2.5 million for the first quarter of fiscal 2024. • D-Wave's consolidated cash balance totaled $304.3 million as of March 31, 2025, a record quarter-end balance for the Company. Management believes that its cash balance is sufficient to fund the Company to profitability. • Published the peer-reviewed paper "Bey ...