D-Wave Quantum Inc. Q4 2025 Earnings Call Summary

Management noted that in 2025, D-Wave separated itself from the industry narrative by delivering revenue and real-world advantage, which positions the company for its next phase of 'commercial separation.' The acquisition of Quantum Circuits (QCI) establishes a dual-platform strategy, combining D-Wave's dominant annealing technology for optimization with QCI's 'dual-rail' qubits for error-corrected gate-model systems. Performance attribution for the 179% year-over-year revenue growth is credited to th ...