stockrowD-Wave Quantum Inc.
QBTS Technology Computer Hardware
D-Wave Quantum Inc.’s revenue for fiscal 2025 (year ended December 2025) was $24.6 million, up 178.5% from fiscal 2024.
- Revenue
- −0.61%
- EPS
- +76.4%
- Free cash flow
- −105.8%
- Total debt
- +9.27%
Quarter to June 2026, against a year earlier
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D-Wave Quantum Inc. (QBTS) Gross margin
D-Wave Quantum Inc.'s gross margin over the twelve months to 30 June 2026 was 64.2%, down 18.4 percentage points from fiscal 2025 (82.6%). Over the past ten years it has ranged from 52.8% (fiscal 2023) to 82.6% (fiscal 2025) — the current reading is the highest in ten years. That is above the Computer Hardware industry median of 34.7% and above the Technology sector median of 46.9%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 82.6% | 19.57 |
| FY2024 | 63.0% | 10.25 |
| FY2023 | 52.8% | (6.48) |
| FY2022 | 59.3% | (12.88) |
| FY2021 | 72.1% | (10.14) |
| FY2020 | 82.3% | — |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Jun 2026 | 55.4% | (8.21) |
| Mar 2026 | 63.6% | (1.22) |
| Dec 2025 | 64.8% | (6.55) |
| Sep 2025 | 71.4% | 7.54 |
| 17 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| QBTS D-Wave Quantum Inc. | 64.2% |
| CRCT Cricut, Inc. compare | 58.5% |
| LOGI Logitech International S.A. compare | 45.5% |
| RGTI Rigetti Computing, Inc. compare | 34.6% |
| CRSR Corsair Gaming, Inc. compare | 31.4% |
| IONQ IonQ, Inc. compare | 24.1% |
| QUBT Quantum Computing Inc. compare | −9,391.0% |
| ADIG ADI Global Distribution Inc compare | — |
| IQMX IQM Quantum Computers Oyj compare | — |
| Computer Hardware industry median | 34.7% |
| Technology sector median | 46.9% |
| Market median | 45.1% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
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