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D-Wave Quantum Inc.

QBTS

$9.01 ▼ -1.38 (-13.28%) at close

24 Visible periods

31 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Moderately Bearish

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Analytical Summary

D-Wave Quantum Inc. faces fundamental challenges with weakness in Return on Common Equity (%). Investors should exercise caution and monitor for improvement in key metrics.

Market Cap $3.3B

Dividend Yield —

Revenue Growth -0.6% ↗

Op. Margin None

ROIC -4.8% ↘

FCF / Share $-0.09 ↗

Trailing P/E —

Price / Book 3.1x

FCF Yield —

Debt / Equity 0.03

info Valuation on last close. End-of-day price, Nov 5, 2026.

24-Year Financial Trajectory

Quarterly

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$3.08M

↓ -0.6% —

Net Income Profit after all expenses

$-48.03M

↑ +71.3% —

Operating Margin Operating profit as % of sales

-75.3%

↑ +83.2% 0th

FCF / Share Free cash flow per share

$-0.09

↑ +29.1% —

Long-Term Debt Long-term obligations

$34.89M

↓ -1.5% —

trending_up

Bullish Indicators

Debt to EquityDebt to Equity is in the top quartile (lower is better)

warning

Bearish Risks

Operating Margin (%)Operating Margin (%) is in the bottom quartile
Return on Common Equity (%)Return on Common Equity (%) is in the bottom quartile

Health Breakdown

Profitability

Returns ↓

Financial Health ↓

Cash Quality ↓

Financial view

Statement lens

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📈 Is growth accelerating? 6 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Dec 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Dec 31, 2021 10-Q ↗	Q1 FY2021 Dec 31, 2020 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q4 FY2019 Dec 31, 2019 10-K ↗
Revenue Growth YoY (%)	-0.6% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-105%)	-80.9% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-775%)	19.2% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+60%)	99.9% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+733%)	41.8% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+248%)	508.6% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+4138%)	-20.5% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-271%)	-27.0% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-325%)	27.9% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+132%)	55.7% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+364%)	21.3% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+78%)	51.2% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+326%)	24.5% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+104%)	-7.6% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-163%)	-1.3% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-111%)	29.7% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+147%)	20.6% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+72%)	—	—	—	—	—	—	—
EPS Growth YoY (%)	76.4% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-150.0% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	76.7% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-272.7% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-450.0% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	81.8% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-377.8% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	8.3% Fair ↓ Fair Declining Year-over-year change in earnings per share Optimal: > 10%	50.0% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	45.0% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	30.8% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-9.1% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-66.7% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-122.2% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-18.2% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-266.7% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	-200.0% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	—	—	—	—	—	—	—
Net Income Growth YoY (%)	71.3% Excellent ↑ Excellent Improving Year-over-year change in net income	-238.6% Weak ↑ Weak Improving Year-over-year change in net income	50.8% Excellent ↑ Excellent Improving Year-over-year change in net income	-516.4% Weak ↓ Weak Declining Year-over-year change in net income	-841.2% Weak ↓ Weak Declining Year-over-year change in net income	68.7% Excellent ↑ Excellent Improving Year-over-year change in net income	-437.5% Weak ↓ Weak Declining Year-over-year change in net income	-43.5% Weak ↓ Weak Declining Year-over-year change in net income	31.4% Excellent ↑ Excellent Improving Year-over-year change in net income	29.6% Excellent ↑ Excellent Improving Year-over-year change in net income	-7.0% Weak ↑ Weak Improving Year-over-year change in net income	-21.3% Weak ↑ Weak Improving Year-over-year change in net income	-96.2% Weak ↑ Weak Improving Year-over-year change in net income	-111.1% Weak ↑ Weak Improving Year-over-year change in net income	-8.1% Weak ↑ Weak Improving Year-over-year change in net income	-210.1% Weak Weak Year-over-year change in net income	-182.7% Weak Weak Year-over-year change in net income	—	—	—	—	—	—	—
FCF Growth YoY (%)	—	-82.0% Weak Weak Year-over-year change in free cash flow	—	—	—	10.6% Fair Fair Year-over-year change in free cash flow	—	—	—	30.5% Excellent Excellent Year-over-year change in free cash flow	—	—	—	-44.2% Weak Weak Year-over-year change in free cash flow	—	—	—	—	—	—	—	—	—	—
Revenue CAGR 3Y (%)	21.7% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	21.8% Excellent → Excellent Stable Compound annual revenue growth over 3 years	4.7% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	30.2% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	31.2% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	106.1% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	-1.6% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	12.7% Good Good Compound annual revenue growth over 3 years	24.3% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Revenue CAGR 5Y (%)	22.0% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Dec 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Dec 31, 2021 10-Q ↗	Q1 FY2021 Dec 31, 2020 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q4 FY2019 Dec 31, 2019 10-K ↗
Operating Margin (%) (%)	—	—	—	—	—	-75.3% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-476%)	—	—	—	—	—	—	—	—	—	—	—	—	-447.4% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2337%)	—	—	—	—	—
Effective Tax Rate (%) (%)	-0.0% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	60.8% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit Margin (%) (%)	—	—	—	—	—	-36.1% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-341%)	—	—	—	—	—	—	—	—	—	—	—	—	—	-322.0% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2247%)	-410.6% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2837%)	—	—	—
FCF Margin (%) (%)	—	—	—	—	—	-131.4% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	46.2% Excellent Excellent Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—	—	—	—	—	-461.8% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—	-307.7% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—	—	—
FCF / Net Income (x)	0.69x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	2.51x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	0.47x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.14x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	—	3.64x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	-0.01x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—	0.72x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	0.95x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	—	—	0.55x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	0.74x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	—	—	0.83x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	0.54x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	1.85x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	—	—	—	—

🎯 Is capital allocation efficient? 3 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Dec 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Dec 31, 2021 10-Q ↗	Q1 FY2021 Dec 31, 2020 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q4 FY2019 Dec 31, 2019 10-K ↗
Return on Invested Capital (%)	-4.8% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-1.9% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-3.1% Weak → Weak Stable Return earned on debt + equity capital invested Optimal: > 10%	-3.1% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-2.9% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-3.8% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-17.2% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-108.0% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-149.8% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-53.0% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-33.2% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-81.2% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	85.0% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	-1122.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-974.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-83.6% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-66.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	109.3% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	-55.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-59.1% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	-37.6% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—	—	—
Return on Capital (%) (%)	-4.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-4.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-3.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-3.2% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-3.1% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-3.5% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-10.1% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-41.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-30.5% Weak → Weak Stable Operating profit relative to total assets Optimal: > 10%	-36.0% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-27.9% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-26.2% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-83.9% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-89.9% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-78.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-39.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-33.6% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	-33.3% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—	—	—	—
Return on Common Equity (%) (%)	-4.4% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-124%)	-1.6% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-109%)	-5.0% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-127%)	-20.9% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-213%)	-24.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-230%)	-2.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-114%)	-137.4% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-843%)	134.3% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+626%)	82.6% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+347%)	46.8% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+153%)	65.4% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+254%)	-180.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1073%)	92.8% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+402%)	—	50.8% Excellent ↓ Excellent Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+174%)	—	65.7% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+255%)	147.2% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+696%)	—	-32.1% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-274%)	-23.8% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-228%)	—	—	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Dec 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Dec 31, 2021 10-Q ↗	Q1 FY2021 Dec 31, 2020 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q4 FY2019 Dec 31, 2019 10-K ↗
Debt to Equity (x)	0.03x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-93%)	0.03x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-93%)	0.04x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-91%)	0.05x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-89%)	0.05x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-90%)	0.15x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-67%)	0.48x Good ↑ Good Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+7%)	-1.89x Excellent → Excellent Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-521%)	-1.46x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-425%)	-1.71x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-479%)	-2.61x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-680%)	1.04x Caution ↑ Caution Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+130%)	-0.30x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-168%)	-1.24x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-375%)	-1.06x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-335%)	-21.33x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-4840%)	-1.70x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-479%)	—	4.12x Weak Weak Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+816%)	—	—	—	—	—
Interest Coverage (x)	-3329.88x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-3219.24x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-2903.25x Weak Weak Operating income divided by interest expense Optimal: > 5x	-2133.54x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—	-23.02x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—	—	—	—	—	-54.38x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	—	-11.43x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-6.86x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-20.86x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-9.54x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-47.77x Weak Weak Operating income divided by interest expense Optimal: > 5x	-45.10x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—	—
Net Debt (USD)	$-261.76M	$-302.77M	$-599.52M	$-804.18M	$-787.25M	$-273.95M	$-147.85M	$32.01M	$31.45M	$63.04M	$22.54M	$9.11M	$8.47M	$9.05M	$31.17M	$15.14M	$23.79M	—	$12.45M	—	—	—	—	—
Debt / EBITDA (x)	-0.72x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.70x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-1.04x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-1.17x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-1.22x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-2.78x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-1.51x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-1.57x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-1.69x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-3.65x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-3.91x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.50x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.41x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.37x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-1.51x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-1.01x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-2.93x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	-1.19x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—

📊 What does each share earn? 6 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Dec 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Dec 31, 2021 10-Q ↗	Q1 FY2021 Dec 31, 2020 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q4 FY2019 Dec 31, 2019 10-K ↗
Revenue per Share (USD)	$0.01	$0.01	—	$0.01	$0.01	$0.05	—	$0.01	$0.01	$0.02	—	$0.02	$0.01	$0.01	—	$0.01	$0.01	$0.01	—	$0.01	$0.01	—	—	—
Basic EPS, GAAP (USD)	$-0.13	$-0.05	$-0.10	$-0.41	$-0.55	$-0.02	$-0.43	$-0.11	$-0.10	$-0.11	$-0.09	$-0.12	$-0.20	$-0.20	$-0.13	$-0.11	$-0.12	$-0.09	$-0.11	$-0.03	$-0.04	—	—	—
Free Cash Flow per Share (USD)	$-0.09	$-0.13	—	$-0.06	—	$-0.07	—	—	—	$-0.08	—	—	—	$-0.11	—	—	—	$-0.08	—	$-0.06	—	—	—	—
Book Value per Share (USD)	$2.91	$3.04	$2.38	$1.94	$2.04	$0.71	$0.23	$-0.08	$-0.12	$-0.23	$-0.15	$0.06	$-0.22	$-0.06	$-0.27	$-0.01	$-6.01	$-0.06	$1.07	$0.10	$0.18	—	—	—
Tangible Book Value per Share (USD)	$1.42	$1.53	$2.37	$1.94	$2.04	$0.71	$0.23	$-0.08	$-0.12	$-0.23	$-0.15	$0.06	$-0.22	$-0.06	$-0.27	$-0.01	$-6.09	$-0.06	$0.98	$0.10	$0.18	—	—	—
Basic Weighted Avg Shares (shares)	370.84M	367.47M	—	342.20M	302.29M	286.42M	—	201.59M	172.14M	161.31M	—	133.22M	127.34M	123.14M	—	116.26M	112.02M	125.39M	—	125.36M	111.88M	—	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Dec 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Dec 31, 2021 10-Q ↗	Q1 FY2021 Dec 31, 2020 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q4 FY2019 Dec 31, 2019 10-K ↗
Working Capital (USD)	$533.31M	$578.75M	$875.08M	$832.63M	$809.27M	$295.87M	$154.90M	$9.25M	$3.96M	$22.83M	$35.80M	$14.87M	$-20.80M	$-3.17M	$-2.12M	$11.70M	$-13.12M	—	$8.86M	—	—	—	—	—
LT Debt (USD)	$34.89M	$35.42M	$35.83M	$32.05M	$32.06M	$30.37M	$30.13M	$32.01M	$31.45M	$63.04M	$63.85M	$9.11M	$8.47M	$9.05M	$31.17M	$15.14M	$34.26M	—	$12.45M	—	—	—	—	—
Total Equity (USD)	$1.08B	$1.12B	$852.23M	$670.55M	$694.25M	$207.39M	$62.65M	$-16.91M	$-21.51M	$-36.96M	$-24.48M	$8.80M	$-27.89M	$-7.31M	$-29.46M	$-710.00K	$-20.09M	$-7.92M	$3.02M	$13.10M	$19.64M	$30.24M	$32.73M	$-103.87M

📋 What is driving earnings? 4 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Dec 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Dec 31, 2021 10-Q ↗	Q1 FY2021 Dec 31, 2020 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q4 FY2019 Dec 31, 2019 10-K ↗
Sales/Revenue/Turnover (USD)	$3.08M	$2.86M	$2.75M	$3.74M	$3.10M	$15.00M	$2.31M	$1.87M	$2.18M	$2.46M	$2.91M	$2.56M	$1.71M	$1.58M	$2.40M	$1.70M	$1.37M	$1.71M	$2.43M	$1.31M	$1.14M	—	—	—
Depreciation Expense (USD)	$4.73M	$3.80M	$480.00K	$369.00K	$300.00K	$376.00K	$316.00K	$200.00K	$200.00K	$229.00K	$226.00K	$200.00K	$200.00K	$339.00K	$385.00K	$338.00K	$309.00K	$412.00K	$399.00K	$388.00K	$344.00K	—	—	—
Net Income, GAAP (USD)	$-48.03M	$-18.36M	$-42.33M	$-139.99M	$-167.33M	$-5.42M	$-86.08M	$-22.71M	$-17.78M	$-17.31M	$-16.01M	$-15.83M	$-25.90M	$-24.61M	$-14.96M	$-13.05M	$-13.20M	$-11.66M	$-13.84M	$-4.21M	$-4.67M	—	—	—
Operating Cash Flow (USD)	$-28.50M	$-44.96M	$-18.37M	$-19.05M	—	$-19.28M	$2.02M	—	—	$-12.12M	$-14.74M	—	—	$-13.57M	$-10.89M	—	—	$-9.51M	$-7.18M	$-7.35M	—	—	—	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 5 days ago 7 years · 24 quarters

D-Wave Quantum Inc.

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