D-Wave Quantum (US:QBTS) ZACKS·2025-11-06 16:01Core Insights - D-Wave Quantum Inc. reported a net loss of 41 cents per share for Q3 2025, which was worse than the Zacks Consensus Estimate of a loss of 7 cents and compared unfavorably to a loss of 11 cents in the same period last year [1][9] - The company achieved revenues of $3.74 million in Q3 2025, representing a 100% year-over-year increase and exceeding the Zacks Consensus Estimate by 19.84% [2][9] - D-Wave's gross profit for the quarter was $2.7 million, a 156% increase from the previous year, with a gross margin expansion of 1560 basis points to 71.4% [4][9] Revenue and Bookings - Revenues for Q3 2025 were $3.74 million, up 100% year over year, and bookings reached $2.4 million, a 3% increase from the previous year [2] - The company has over 100 revenue-generating customers, including nearly two dozen from the Forbes Global 2000 list [2] Margin Performance - GAAP gross profit was $2.7 million, with a gross margin of 71.4%, reflecting a significant year-over-year improvement [4] - On an adjusted basis, gross profit was $2.9 million, with an adjusted gross margin of 77.7%, marking a 1050-basis point increase from the prior year [5] Financial Position - D-Wave ended Q3 2025 with cash and cash equivalents of $836.2 million, up from $819.3 million at the end of Q2 2025 [6] - The company raised $39.9 million in cash proceeds from the exercise of warrants during the quarter [6] Business Developments - D-Wave signed several new and renewing customer engagements, including partnerships with major companies like BASF to optimize manufacturing workflows [8] - The company is experiencing strong momentum across all business categories, indicating success in accelerating global quantum computing adoption [7]