Where Will D-Wave Be in 1 Year?

Core Viewpoint - D-Wave Quantum has seen a significant increase in its stock price, rising by 390% over the past year, driven by investor interest in quantum computing, but the company faces challenges with minimal sales and substantial losses [1][6]. Sales and Revenue - D-Wave offers a full-stack quantum computing solution, including software and hardware, and is targeting a potential market worth $100 billion by 2035 [2]. - Current sales are minimal, with revenue reported at just $3.7 million in the third quarter, despite a doubling of revenue compared to previous periods [3]. - The company is expected to maintain minimal sales over the next year, with predictions indicating that the quantum computing market will not see real-world applications for another five years [5]. Financial Performance - D-Wave reported a net loss of $140 million in the same quarter, with operating expenses increasing by 40% to $30 million, indicating a trend of widening losses as the company invests in expansion and technology [4]. - The company's price-to-sales ratio stands at 286, significantly higher than the tech sector's average of under 9, suggesting that D-Wave's shares are overvalued [7]. Market Outlook - The outlook for D-Wave's revenue remains bleak, with expectations of continued significant losses and overpriced shares over the next year [8].