D-Wave (QBTS) CEO on Earnings, Quantum Computing Profits & Acquisitions

Company Performance - D-Wave Quantum reported a revenue of $24.6 million for 2025, marking a 179% increase over 2024 [1][2] - The company ended 2025 with over $850 million in cash and has already secured over $32 million in new sales bookings in the first two months of 2026, surpassing total bookings for all of last year [2][3] Product Development - D-Wave launched its latest generation of quantum computers, the Advantage 2, which can solve real-world problems that classical computers cannot [4] - The company has also introduced new software to support its quantum systems, enhancing the ability to solve complex computational problems more efficiently than classical systems [4] Strategic Positioning - D-Wave is recognized as a leader in both annealing quantum computing and gate model quantum computing, following the acquisition of Quantum Circuits, a spin-out from Yale University [5][6] - This dual platform strategy positions D-Wave as a one-stop shop for quantum computing, capable of addressing a full range of customer use cases [6] Financial Stability - Analysts suggest that D-Wave is in a stronger financial position compared to competitors, as it does not need to rely heavily on public markets for funding [7][8] - While the company is not yet profitable, it is on a positive trajectory towards achieving profitability [8] Future Outlook - D-Wave is optimistic about the timeline for general use quantum computing, estimating that commercial gate model systems could be available in 5 to 7 years, which is more optimistic than the 10 to 20 years suggested by others [9][10]