Monday 12 October 2026 Export all QBTS data to Excel Powerpack

D-Wave Quantum Inc.

D-Wave Quantum Inc.’s revenue for fiscal 2025 (year ended December 2025) was $24.6 million, up 178.5% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS grew 76.4%, free cash flow fell 105.8% and total debt rose 9.27%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.

13.74 0.83 −5.70%

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Market cap: $5.5B
P/E: 0.0×
Fwd P/E: −59.8×
Dividend yield: —
F-score: 5/9
Altman Z: 78.57
Beneish M: −2.93
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

	Older periods	Sep '25	Dec '25	Mar '26	Jun '26
P/E ratio Full definition →	+8 more quarters Free account	0.00	0.00	0.00	0.00
P/S ratio Full definition →		350.23	341.62	426.12	716.01
P/FCF ratio Full definition →		0.00	0.00	0.00	0.00
P/Operating CF Full definition →		(443.99)	(457.19)	(117.94)	(312.12)
P/B ratio Full definition →		12.61	9.86	4.72	8.21
Price to Tangible BV Full definition →		12.63	9.87	9.36	16.83
EV/Sales Full definition →		316.93	307.11	381.69	674.87
EV/EBITDA Full definition →		0.00	0.00	0.00	0.00
EV/Operating CF Full definition →		(148.31)	(104.90)	(48.63)	(75.62)
EV/FCF Full definition →		(138.49)	(98.76)	(46.17)	(69.92)
Quick Ratio Full definition →		54.03	41.90	21.06	20.09
Current Ratio Full definition →		54.68	42.38	21.41	20.55
Net Debt/EBITDA Full definition →		29.59	24.84	10.93	10.61
Debt/Assets Full definition →		3.72%	3.93%	2.96%	3.02%
Debt/Equity Full definition →		0.05	0.04	0.03	0.03
Asset Turnover Full definition →		0.05	0.04	0.02	0.01
Operating CF/Net income Full definition →		0.14	0.43	2.45	0.59
Capex/Depreciation Full definition →		(2.13)	(2.63)	(0.30)	(0.91)
Interest Coverage Full definition →		(137.99)	(10.31)	(211.30)	(208.93)
Research and Development Expense of Revenue Full definition →		376.44%	496.98%	902.48%	918.04%
Selling, General and Administrative Expense of Revenue Full definition →		436.75%	833.79%	1,076.00%	869.41%
Intangible Assets out of Total Assets Full definition →		0.00	0.00	0.47	0.48
Share Based Compensation of Revenue Full definition →		172.64%	201.24%	280.58%	361.28%
Graham Net Nets Full definition →		0.08	0.10	0.10	0.05
Graham Number Full definition →		0.00	0.00	0.00	0.00
Earnings Yield Full definition →		(5.46%)	(4.21%)	(7.83%)	(2.96%)
Free Cash Flow Yield Full definition →		(0.65%)	(0.91%)	(1.94%)	(1.35%)
Revenue per Share Full definition →		0.01	0.01	0.01	0.01
Operating CF per Share Full definition →		(0.06)	(0.06)	(0.12)	(0.08)
Capex per Share Full definition →		0.00	(0.01)	0.00	(0.01)
Free Cash Flow per Share Full definition →		(0.06)	(0.06)	(0.13)	(0.09)
Cash per Share Full definition →		2.44	2.75	1.60	1.47
Shareholders Equity per Share Full definition →		1.96	2.65	3.06	2.92
Interest Debt per Share Full definition →		0.00	0.00	0.00	0.00
Book value per Share Full definition →		1.96	2.65	3.06	2.92
Free Cash Flow Full definition →		(20.25)	(20.15)	(46.20)	(33.14)
Working Capital Full definition →		832.63	875.08	578.75	533.31
Capital Expenditures Full definition →		(1.21)	(1.78)	(1.24)	(4.64)
Net Current Asset Value Full definition →		652.87	832.65	531.55	485.27
EV/EBIT Full definition →		0.00	0.00	0.00	0.00
Capex to Sales Full definition →		0.32	0.65	0.44	1.51
Price to Operating Income Full definition →		0.00	0.00	0.00	0.00
Other line items
Average Receivables Full definition →		1.69	1.50	4.98	1.73
Average Payables Full definition →		0.84	0.88	1.36	2.86
Average Inventory Full definition →		2.37	2.23	2.31	2.97
Average Assets Full definition →		457.69	557.83	762.71	1,001.02
Average Common Equity Full definition →		326.82	457.44	665.82	888.68

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Columns are period end dates

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