D-Wave Quantum Inc. (QBTS) Reports Q3 Loss, Tops Revenue Estimates

Core Insights - D-Wave Quantum Inc. reported a quarterly loss of $0.41 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.07, marking an earnings surprise of -485.71% [1] - The company achieved revenues of $3.74 million for the quarter ended September 2025, exceeding the Zacks Consensus Estimate by 19.84%, and showing a substantial increase from $1.87 million in the same quarter last year [2] - D-Wave Quantum shares have increased by approximately 269.3% year-to-date, outperforming the S&P 500's gain of 15.6% [3] Financial Performance - Over the last four quarters, D-Wave Quantum has surpassed consensus revenue estimates four times, but has only exceeded consensus EPS estimates once [2] - The current consensus EPS estimate for the upcoming quarter is -$0.07 on revenues of $3.63 million, while for the current fiscal year, it is -$0.24 on revenues of $24.85 million [7] Market Outlook - The company's earnings outlook will be crucial for future stock performance, with management's commentary on the earnings call expected to influence investor sentiment [3][4] - The Zacks Rank for D-Wave Quantum is currently 4 (Sell), indicating expectations of underperformance in the near future due to unfavorable estimate revisions [6] - The Internet - Software industry, to which D-Wave Quantum belongs, is currently ranked in the top 35% of over 250 Zacks industries, suggesting a favorable industry backdrop [8]