D-Wave Quantum's Expanded Global Customer Base Is Gaining Attention

Core Insights - D-Wave Quantum (QBTS) is experiencing increased adoption of its quantum computing solutions, as evidenced by several new and renewed customer agreements across various industries during Q3 2025 [1][8] Group 1: Customer Agreements and Industry Engagements - D-Wave signed agreements with major players including a large U.S.-based international airline, SkyWater Technology, and Japan Tobacco's pharmaceutical division, indicating strong interest in quantum computing across aviation, semiconductors, and pharmaceuticals [1][2] - The company also entered into an agreement with Yapi Kredi, a leading Turkish bank, showcasing the relevance of quantum computing in financial services [2] - An engagement with Korea Quantum Computing was established to enhance D-Wave's presence in the Asia-Pacific region [2] - Collectively, these agreements contributed to $2.4 million in bookings for the third quarter [3][8] - A significant EUR 10 million agreement was highlighted for deploying a D-Wave Advantage2 annealing quantum computer in Europe shortly after the third quarter [3] Group 2: Peer Updates - Quantum Computing Inc. (QUBT) announced a purchase order from a top 5 U.S. bank for its quantum security solutions, marking a milestone for its platform [4] - Rigetti Computing (RGTI) formed strategic collaborations to advance quantum networking and integrate its QPUs with AI supercomputing environments [5] Group 3: Stock Performance and Valuation - QBTS shares have increased by 509.3% over the past year, significantly outperforming the broader Internet Software industry's growth of 6.2% and the S&P 500's gain of 22.1% [6] - The current forward Price-to-Sales (P/S) ratio for QBTS is 234.36X, compared to the industry average of 5.55X, indicating a high valuation [9] Group 4: Earnings Estimates - The loss per share estimate for D-Wave has narrowed by 1 cent to 20 cents for 2025 over the past 30 days [10]