Core Insights - D-Wave Quantum (QBTS) is gaining significant investor interest due to its unique position in developing both annealing and gate model quantum computers, which allows it to capture the entire quantum market opportunity [1] - The company anticipates that 2025 will be a pivotal year, with key product development milestones expected to play a central role in its growth [1] Product Developments - D-Wave launched Advantage2 in May, an energy-efficient annealing quantum computer designed to solve complex problems that classical computers cannot handle, with applications in optimization, material simulation, and AI [2] - The Advantage2 system is operational at Davidson Technologies in Huntsville, AL, focusing on U.S. government mission-critical issues, particularly in national defense [2] - D-Wave has completed the fabrication of fluxonium qubit chips and superconducting control chips, working towards scalable control of gate model qubits, which could provide a competitive edge [3] - The fabrication of Advantage3 prototype chips is nearing completion, with circuit testing expected soon, focusing on innovation and scaling towards 100,000 qubits [4][8] Market Performance - Over the past 12 months, QBTS shares have increased by 172.2%, significantly outperforming the broader Internet Software industry's 6.8% rise, the Computer and Technology sector's 26.3% increase, and the S&P 500's 19% gain [7] - Currently, QBTS shares are trading at a forward price/book (P/B) ratio of 13.49X, which is below its median but above the industry average of 6.01X [9] Peer Updates - IonQ (IONQ) has extended its strategic partnership with the Korea Institute of Science and Technology Information and is set to deliver a 100-qubit IonQ Tempo quantum system [5] - Quantum Computing Inc. (QUBT) has signed an agreement to acquire Luminar Semiconductor, Inc. for $110 million, which will enhance its portfolio and support its growth [6]

Key Points D-Wave is taking a dual approach to quantum computing led by its annealing technology. IonQ is using a trapped-ion gate-based system. Both stocks remain speculative at this point. 10 stocks we like better than D-Wave Quantum › Two of the leading pure-play quantum computing stocks are IonQ (NYSE: IONQ) and D-Wave Quantum (NYSE: QBTS). While both stocks have enjoyed solid returns thus far this year, D-Wave has been the much stronger performer, with the stock up around 200% as of this wri ...

Core Insights - D-Wave Quantum Inc. (QBTS) and IonQ (IONQ) are positioned uniquely in the quantum computing sector as 2026 approaches, with distinct investment narratives emerging from their respective performances and strategies [1][3]. D-Wave Quantum Inc. (QBTS) - D-Wave has demonstrated strong commercial momentum, with third-quarter results showing revenue and gross profit more than doubling year over year, and cash balances reaching over $836 million [1][7]. - The Advantage2 system is operational for enterprise and government users, with significant contracts, including a €10 million installation in Europe expected to contribute to revenues starting in 2026 [5]. - Management emphasizes a strong pipeline with larger average deal sizes and over $100 million in annual QCaaS revenue capacity, positioning 2026 as a monetization year rather than purely focused on R&D [6]. - Despite the positive outlook, QBTS faces execution risks due to revenue concentration from specific system sales, which may lead to uneven bookings and revenue timing [10]. - Analysts project a revenue growth of 61.1% for QBTS in 2026, with an expected earnings growth of 7% [9][14]. IonQ (IONQ) - IonQ has reported gains through strategic partnerships and deployments, including the delivery of its 100-qubit Tempo system to South Korea's KISTI, enhancing its global market penetration [2]. - The Tempo system, achieving AQ 64 and 99.99% two-qubit gate fidelity, is expected to drive revenue growth as it demonstrates measurable quantum advantage in various applications [11]. - IonQ's transformation into a full quantum platform company, including acquisitions and government engagement, expands its addressable market and supports sustained growth despite ongoing operating losses [12]. - IonQ is projected to achieve revenue growth of 83.3% in 2026, with an expected earnings growth of 65.8% [9][14]. Comparative Performance - Year-to-date, QBTS stock has surged 227.6%, significantly outperforming IONQ's 19.2% gain, reflecting divergent investor sentiment due to differences in near-term commercial execution [3]. - Both companies currently hold a Zacks Rank 3 (Hold), but IonQ is viewed as having stronger long-term upside potential due to its technical advancements and substantial cash reserves [17].

With this in mind, which companies have demonstrated steady quantum computing progress? 1. Honeywell International Inc. Although not typically perceived as a quantum computing company, Honeywell has two major advantages. First, as long as the dollar maintains its global reserve currency status, Honeywell will continue to serve the military industrial complex with its aerospace systems, alongside land, naval, satellite and autonomous systems. Honeywell's Aerospace Technologies (AT) division represented aroun ...

We recently published 10 Stocks Shining Bright Amid Wall Street’s Dull Spell. D-Wave Quantum Inc. (NYSE:QBTS) is one of the top performers on Tuesday. D-Wave Quantum bounced back on Tuesday from two straight days of losses, jumping 7.50 percent to finish at $25.52 apiece as investors took heart from an investment firm’s bullish stance for the stock. In a market report, Jefferies issued a “buy” recommendation on shares of D-Wave Quantum Inc. (NYSE:QBTS), alongside a price target of $45. The figure marked ...

Core Insights - The year 2025 has seen significant advancements in quantum computing, with clearer engineering roadmaps and major capital commitments from key players like IBM and Amazon [1][2] - Investor expectations have shifted towards near-term commercialization, with increased capital deployment anticipated in 2026 [3] Company Developments - IBM launched a new quantum data center and outlined a multi-year plan for fault-tolerant systems, boosting market confidence [1] - Amazon's AWS introduced the Ocelot quantum chip, which aims to reduce error-correction overhead by up to 90% [1] - Honeywell's Quantinuum raised approximately $600 million, achieving a valuation close to $10 billion, supported by a DARPA contract [2] - Google's 105-qubit Willow chip achieved a significant milestone by demonstrating a quantum advantage, reportedly 13,000 times faster than classical supercomputers for molecular simulations [2] - IonQ reported a remarkable 222% year-over-year revenue growth in Q3 2025, achieving a world-record 99.99% two-qubit gate fidelity [7][10] - D-Wave's Advantage2 system, a 4,400+ qubit quantum computer, became available for real-world applications, with revenues increasing by 100% year-over-year [11][12] Market Trends - The momentum in quantum computing suggests a rise in customer engagements and collaborations between industry and government, particularly in materials science and pharmaceuticals [3] - Both IonQ and D-Wave are projected to experience strong earnings and sales growth in 2026, reflecting the active progress made in 2025 [9][13] Financial Performance - IonQ's stock has gained 26.1% year-to-date, with expectations of 66.2% earnings growth and 69% sales growth in 2026 [10] - D-Wave's stock surged 221.4% year-to-date, with projected earnings growth of 9.3% and sales growth of 61.3% in 2026 [13]

Core Insights - D-Wave Quantum has emerged as the best-performing quantum computing stock in 2025, driven by significant revenue growth and technological advancements [1][5][9] Company Performance - D-Wave Quantum's revenue doubled in the third quarter, reaching $3.7 million, with bookings increasing by 80% sequentially to $2.4 million [5] - The company reported a total revenue of $21.8 million for the first nine months of 2025, with a full-year revenue forecast of $25.5 million [8][13] - Despite its growth, D-Wave continues to incur losses, with a reported operating loss of $27.7 million in the third quarter and a negative free cash flow of $55.8 million year to date [9] Technological Developments - D-Wave specializes in quantum annealing technology and launched its sixth-generation quantum computer, Advantage2, which is designed to solve complex computational problems [6] - The launch of Advantage2 has generated interest, including a notable 10 million euro booking from a research facility in Italy [7] Market Position - D-Wave Quantum's market capitalization has reached approximately $8.1 billion, despite its relatively small revenue base, resulting in a price-to-sales ratio exceeding 300 [13] - The company is well-capitalized with $836.2 million in cash, allowing it to fund operations and invest in research and development for several years [10] Future Outlook - Management plans to utilize cash reserves for research and development, focusing on expanding professional services and quantum computing as a service [12] - Investor interest provides D-Wave with the flexibility to raise capital if needed, but the stock remains high-risk due to the long timeline before profitability is expected [13][14]

Core Insights - Quantum computing is in its early stages, presenting high risks but significant long-term potential, with D-Wave Quantum Inc. (QBTS) and Quantum Computing Inc. (QUBT) showing promising narratives ahead of their Q3 2025 earnings release [1] D-Wave Quantum Inc. (QBTS) - D-Wave reported a 42% year-over-year revenue increase in Q2 2025, achieving a record cash balance of over $819 million, driven by the rollout of its Advantage2 system and partnerships with companies like GE Vernova and Nikon Corporation [2][9] - The company enters Q3 2025 with strong financial health, allowing for accelerated adoption of Advantage2 and progress towards its goal of scaling to 100,000-qubit hardware [6][9] - D-Wave's strategic focus includes gate-model development, quantum-AI initiatives, and advanced cryogenic packaging partnerships, with Q3 serving as a potential indicator of its ability to convert liquidity into adoption [7][9] Quantum Computing Inc. (QUBT) - QUBT made significant advancements, including a commercial order for its quantum photonic vibrometer and the inauguration of its thin-film lithium-niobate chip foundry in Arizona, ending Q2 with approximately $349 million in cash [3][10] - The company has a solid financial foundation with over $426 million in assets and only $30 million in liabilities, enabling aggressive scaling without immediate funding pressures [10] - QUBT's future milestones will focus on proving repeatability and commercial demand, with partnerships with institutions like NASA and Delft University, aiming to transition from technology validation to scalable monetization by late 2025 [12][11] Stock Performance and Analyst Insights - QUBT's average price target suggests a potential increase of 69.7% from its last closing price of $15.52, while QBTS's average price target indicates a decline of 24.4% from $34.26 [13][15] - As both companies approach their Q3 2025 earnings reports, D-Wave appears better positioned for near-term execution due to its larger cash position and accelerating revenue growth, while QUBT is still in the early stages of converting pilot projects into recurring revenues [16][17]

Core Insights - Quantum computing is emerging as a significant advancement in processing power, with several companies, including D-Wave Quantum, poised to capitalize on this technology [1][2] Company Overview - D-Wave Quantum, based in Palo Alto, California, is recognized as the world's first commercial supplier of quantum computers, focusing on both annealing and gate-model quantum computers [4] - The company has a market capitalization of $11 billion [4] Recent Developments - D-Wave Quantum announced a plan to streamline its capital structure by redeeming 5 million warrants, which could lead to the issuance of 7.2 million shares if all warrants are exercised by the November 17 deadline, resulting in a 2.1% dilution for existing shareholders [3] - Following this announcement, D-Wave Quantum's stock experienced a 6% drop, despite a significant increase in value over the past year [4] Performance Metrics - Over the last year, D-Wave Quantum's stock has surged by 2,220%, significantly outperforming the Russell 2000's return of 12.6% during the same period [6] - The stock's performance, while impressive, has led to a forward price-to-sales (P/S) ratio of 448, which is substantially higher than its three-year mean of 24.6, indicating speculative optimism in the market [7] Product Innovations - In May, D-Wave Quantum launched its sixth-generation quantum computer, the Advantage2, which features 20-way qubit connectivity and a 40% increase in energy scale, aimed at real-world applications [5]

Core Insights - D-Wave Quantum's stock experienced a notable increase of 6% following its recognition in Fast Company's 2025 Next Big Things in Tech list, outperforming the S&P 500 index which rose by only 0.3% [1][2] Group 1: Company Recognition - D-Wave Quantum was selected as one of 137 companies in Fast Company's prestigious list, highlighting its position in the quantum computing sector among other tech niches like artificial intelligence and next-generation transportation [2] - The magazine emphasized D-Wave's Advantage2 computer, noting its advanced "annealing" technology as a distinguishing feature compared to competitors [3] Group 2: Product Performance - D-Wave's CEO Alan Baratz stated that the recognition underscores the groundbreaking performance of the Advantage2 computer, which is currently in active use by clients such as Davidson Technologies [4] - The inclusion in the list is described as a testament to D-Wave's commitment to delivering production-ready quantum computing technology that provides immediate value to customers [4]