Every 10-Q that D-Wave Quantum Inc. (QBTS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow QBTS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full QBTS filings page.
D-Wave Quantum Inc. reported second‑quarter revenue of $3.1 million and six‑month revenue of $5.9 million, down sharply from $18.1 million a year earlier as quantum system sales fell from $13.7 million to $0.3 million, while QCaaS and services increased.
Operating expenses more than doubled, reflecting higher research and development, sales and marketing, general and administrative spending and the January 2026 Quantum Circuits acquisition. This drove a six‑month operating loss of $108.0 million and net loss of $66.4 million, partly offset by a $28.4 million deferred tax benefit.
The Quantum Circuits transaction totaled $538.5 million in cash and stock, adding $217.2 million of developed technology and trademarks and $342.6 million of goodwill. Cash and equivalents declined to $296.6 million after $73.5 million of operating and $260.6 million of investing cash outflows. Remaining performance obligations were $40.7 million, and the QBTS listing later moved from the NYSE to Nasdaq.
D-Wave Quantum Inc. reported weak results for the quarter ended March 31, 2026 as it absorbed a large acquisition. Revenue fell to $2.9 million from $15.0 million a year earlier, mainly because $12.6 million of system sales recognized in the prior-year quarter did not repeat.
Operating expenses more than doubled to $56.5 million, driven by higher research and development, general and administrative, and sales and marketing spending, including transaction costs from acquiring Quantum Circuits, Inc. Loss from operations widened to $54.7 million, but a $28.5 million income tax benefit tied to the acquisition reduced net loss to $18.4 million, or $0.05 per share.
The Quantum Circuits deal added $217.2 million of developed technology and trademarks and $342.6 million of goodwill, lifting total assets to $1.20 billion. Cash and cash equivalents were $338.2 million, down from $635.3 million at year-end 2025, reflecting $250.8 million of acquisition-related cash outflows and a $45.0 million operating cash burn.
D-Wave Quantum (QBTS) filed its Q3 2025 10‑Q, highlighting sharp revenue growth and a stronger balance sheet. Revenue reached $3,739 (in thousands), up from $1,870 a year ago, with year‑to‑date revenue of $21,835 (in thousands). The quarter’s net loss was $139,986 (in thousands), driven largely by a non‑cash $121,859 (in thousands) loss from remeasuring warrant liabilities.
Cash and cash equivalents rose to $836,231 (in thousands), supported by financing activity, including at‑the‑market issuances and warrant exercises. Customer concentration remained high as Customer A represented 51% of Q3 revenue and 72% year‑to‑date. Germany led geography with $1,972 (in thousands) in Q3 revenue. As of September 30, 2025, 345,971,195 shares were outstanding; as of November 5, 2025, common shares outstanding were 346,718,581, with 3,403,222 exchangeable shares convertible one‑for‑one.
The company entered a $13.8 million equipment financing facility with an initial $0.5 million draw and a related warrant. Subsequent to quarter‑end, holders exercised 1,896,454 warrants for 2,757,696 shares, and the company initiated a mandatory redemption of remaining public warrants effective November 19, 2025 at $0.01 per warrant.