profit from every $100 of sales.
$0$100
D-Wave Quantum
$11.47+7.40% today
-61.1% in 1 year
1-year low $9.051-year high $32.19
Trading close to its lowest price of the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
It has no yearly profit to compare the price with.
CheapExpensive
It holds more cash than debt.
No debt5 years
Money in, money out
What D-Wave Quantum sold, what it kept, and what it did with the cash.
Sales went from $7.17 million in 2022 to $24.6 million in 2025, with -$355 million of profit last year.
SalesProfit
D-Wave Quantum vs. similar companies
How it compares with the largest companies in its industry.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| D-Wave Quantum | No profit yet | ||
 Arista Networks | 67.0× · Very expensive | ||
 Dell Technologies | 37.1× · Expensive | ||
 Sandisk | 11.0× · Cheap | ||
 Seagate Technology Holdings | 36.5× · Expensive |
AI analysis
An AI analyst reads D-Wave Quantum's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 7 | 9 | 9 | 25 | |
| 4 | 5 | 6 | 20 | |
| -59 | -81 | -77 | -100 | |
| -49 | -81 | -138 | -349 | |
| -54 | -83 | -144 | -355 | |
| -0.45 | -0.60 | -0.75 | -1.11 | |
| 59.2% | 52.8% | 63.0% | 82.6% | |
| -828.9% | -919.7% | -874.8% | -408.2% | |
| -748.7% | -944.5% | -1,630.0% | -1,444.1% |
Balance sheet
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 27 | 59 | 200 | 916 |
| Cash | 7 | 41 | 178 | 635 |
| Total debt | 42 | 73 | 38 | 43 |
| Total liabilities | 56 | 84 | 137 | 64 |
| -29 | -24 | 63 | 852 | |
| 120 | 138 | 192 | 321 | |
| -316.5% | -135.6% | -109.5% | -31.0% | |
| 182.3% | 337.9% | -229.7% | -41.7% |
Cash flow
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| -45 | -61 | -43 | -72 | |
| 0 | 1 | 2 | 4 | |
| -46 | -61 | -45 | -76 | |
| Dividends paid | 0 | 0 | – | – |
| – | – | – | – | |
| 9 | 22 | 16 | 23 |
Valuation
- –
- –
- –
- 6.7×
- 177.1×
- –
- –
- -1.8%
- -8.2%
- 0.0%
Profitability
- 82.6%
- -408.2%
- -1,444.1%
- -3,206.6%
- -11.4%
- -193.7%
- -44.1%
- -30.7%
- -12.3%
- 532.3%
Growth
- +50.8%
- –
- −69.5%
- –
- +26.5%
Financial health
- -1.7×
- 0.01
- 0.9%
- -15.0×
- 21.41
- 21.31
- 0.01
How it ranks in Technology
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Bottom 9%of 965
Top 5%of 977
Bottom 16%of 978
What analysts expect
- Average price target
- $38.89
- Range
- $22.00 – $46.00
- 1 analysts
These targets were collected on May 20, 2026 and our analyst feed has not updated since, so we no longer compare them with today's price.
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| May 12, 2026 | -0.05 | -0.08 | +37.5% |
| Feb 26, 2026 | -0.12 | -0.05 | −140.0% |
| Nov 6, 2025 | -0.41 | -0.07 | −525.1% |
| Aug 7, 2025 | -0.55 | -0.06 | −816.7% |
| May 8, 2025 | -0.02 | -0.05 | +60.0% |
| Mar 13, 2025 | -0.37 | -0.09 | −311.1% |
| Nov 14, 2024 | -0.08 | -0.08 | +0.0% |
| Aug 8, 2024 | -0.09 | -0.09 | +0.0% |
News
$1,000 Split Between IonQ and D-Wave Today Could Be Worth This Much by 2029.Yahoo Finance · Oct 28, 2026Not IonQ. Not D-Wave. This Quantum Stock Could Be 2027's Surprise Winner.Yahoo Finance · Oct 23, 2026Where Will D-Wave Quantum Stock Be in 5 Years?Yahoo Finance · Oct 22, 2026What Needs To Be True To Buy QBTS Stock Now?Yahoo Finance · Oct 21, 2026IonQ Surges 11% as NVIDIA Research Center Deal Follows Error-Decoder Breakthrough; D-Wave Climbs 5%, Rigetti Rises 4%Yahoo Finance · Sep 23, 2026Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
1/7Passes 1 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
28No pass
Benjamin Graham
42No pass
Philip Fisher
48No pass
Peter Lynch
100Pass
Joel Greenblatt
2No pass
Charlie Munger
44No pass
Terry Smith
44No pass
Questions about D-Wave Quantum
Is D-Wave Quantum a good stock to buy?
A business with weak numbers that is not profitable yet. 1 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the D-Wave Quantum AI analysis
What does D-Wave Quantum do?
D-Wave Quantum Inc. develops and delivers quantum computing systems, software, and services worldwide. It is in Computer Hardware, based in Palo Alto, CA, United States, with 382 employees.
Does D-Wave Quantum pay a dividend?
No. D-Wave Quantum does not pay a dividend at the moment.
Is D-Wave Quantum stock halal?
Yes. D-Wave Quantum passes our halal screen: its business is permitted and its debt is 1.0% of its market value, under the 30% limit. How we check
How has D-Wave Quantum stock done over the past year?
Down 61.1% over the past twelve months, to $11.47. It traded between $9.05 and $32.19 and is 64.4% below its high.
Who are D-Wave Quantum's competitors?
The largest listed companies in the same industry are Arista Networks, Dell Technologies, Sandisk and Seagate Technology Holdings. The peers table on this page compares their profit, growth and price with D-Wave Quantum's.
Prices: daily closes to Nov 9, 2026. Fundamentals: company reports via invest-like data.