D Wave Quantum Stock Price, News & Analysis

D-Wave Quantum Inc. (NYSE: QBTS) announces the successful completion of its SOC 2® Type 1 audit as of March 13, 2023, enhancing its commitment to data security as it aims to accelerate the commercial adoption of quantum computing solutions.

Conducted by A-LIGN, a leading compliance assessor, the SOC 2 audit ensures that D-Wave's systems protect customer data effectively. CEO Alan Baratz emphasized the importance of SOC 2 compliance in reassuring customers about their data's safety. The SOC 2 standard, established by the AICPA, serves organizations across industries, validating their commitment to data protection and cybersecurity measures.

D-Wave's ongoing compliance efforts reflect its strategic initiative to boost production readiness and customer confidence in its quantum technology solutions.

D-Wave Quantum Inc. (NYSE: QBTS) has published groundbreaking research demonstrating that its 5,000-qubit Advantage™ quantum computer can outperform classical computers in solving complex 3D spin glass optimization problems. The study, released in Nature, represents the largest programmable quantum simulation to date and showcases coherent quantum dynamics that enhance solution quality more rapidly than classical methods. The findings are a collaboration with Boston University and signify a substantial advancement in quantum technology. D-Wave continues to lead in quantum computing innovation, having launched multiple generations of quantum systems, including a prototype for its upcoming Advantage2™ system, expected to exceed 7,000 qubits.

D-Wave Quantum Inc. (QBTS) reported a 41% revenue increase in Q4 2022 over Q3, reaching $2.4 million. The fiscal year saw a 14.2% rise in total revenue to $7.2 million, supported by an 18% increase in commercial customers, totaling 67. The company closed a $50 million term loan to bolster financial stability. Despite revenue gains, net loss increased to $12.5 million in Q4, although adjusted EBITDA losses are projected to be less than $62 million for FY 2023. The company anticipates FY 2023 revenue between $12 million and $13 million, reflecting expected growth of 67% to 80%. The demand for quantum solutions is evident as D-Wave continues expanding its customer base and enhancing its offerings.

D-Wave Quantum Inc. (NYSE: QBTS) is set to announce its financial results for the fourth quarter and fiscal year ending December 31, 2022, on April 14, 2023. The results will be published before the market opens, with a conference call scheduled on the same day at 8:00 a.m. ET. The call will feature CEO Alan Baratz and CFO John Markovich. D-Wave is recognized for pioneering quantum computing systems and services, focusing on practical applications in various sectors, including logistics, AI, and drug discovery. The company's technology is utilized by major organizations like Volkswagen and Mastercard. D-Wave highlights its commitment to delivering customer value through innovative quantum solutions, positioning itself as a leader in the burgeoning quantum computing space.

D-Wave Quantum Inc. (NYSE: QBTS) announced a change in the date for its fourth quarter and fiscal year 2022 earnings results, now scheduled for the week of April 10, 2023. This adjustment is to synchronize with the delayed filing of its Form 10-K. The exact date for the earnings press release and conference call will be announced soon and will be available on the D-Wave Investor Relations website.

D-Wave continues to lead in quantum computing systems, software, and services, focusing on commercial annealing and gate-model quantum computing, serving numerous high-profile global clients.