D-Wave Quantum Inc. 8-K Filings

D-Wave Quantum Inc. (QBTS) reports that it has executed a Securities Issuance Agreement with the U.S. Department of Commerce under a previously announced Other Transaction Agreement supporting an award of up to $100,000,000. Under the agreement, D-Wave issued 7,095,721 shares of common stock to the Department at an issuance price of $14.093 per share in a private, unregistered transaction relying on Section 4(a)(2) of the Securities Act.

The company provides updated risk factors highlighting uncertainty around the timing and amount of funding under the award, potential challenges or changes in laws or policy that could affect the transactions, dilution from issuing shares at a discount to market, and possible limits on future strategic transactions due to the Department’s equity position and related contractual rights. D-Wave also notes that the financial, tax and accounting treatment of these arrangements is complex and may lead to additional costs, judgments, or adjustments to reported results.

D-Wave Quantum Inc. (QBTS) entered into a definitive Other Transaction Agreement with the U.S. Department of Commerce for an award of up to $100,000,000 under the U.S. CHIPS and Science Act. The funding supports advanced microelectronics R&D for prototyping semiconductor technology to scale the company’s annealing and gate-model superconducting quantum computers.

The award will be disbursed in tranches, including an initial $53,552,620 shortly after the September 4, 2026 award date, with additional milestone-based payments over a performance period of up to five years. In connection with the award, D-Wave will issue 7,095,721 common shares to the Department at $14.093 per share as a minority, non-controlling equity stake, subject to transfer, voting, and registration-rights terms.

D-Wave highlights that this structure may accelerate development of next-generation systems, including a 100,000-qubit annealing system and a 10,000-qubit gate-model system, while also introducing risks around funding timing, stockholder dilution, potential limitations on strategic transactions, and complex financial, tax and accounting treatment.

D-Wave Quantum Inc. (QBTS) reported that Chief Financial Officer John Markovich has notified the company of his intention to retire and will resign as CFO effective September 2, 2026. The company states his resignation is not due to any disagreement regarding its business, operations, accounting, financial reporting, or controls.

D-Wave’s senior vice president of finance Greg Golkov, age 49, will become acting Chief Financial Officer and will serve as both principal financial officer and principal accounting officer. Golkov has more than 25 years of finance and accounting experience and has led D-Wave’s accounting, SEC reporting, FP&A, treasury, and tax functions since May 2023.

The company highlights Markovich’s role in taking D-Wave public in 2022 and in raising over $900 million in capital, as well as in developing what management describes as a path to profitability. A press release dated August 25, 2026 announcing these leadership changes is filed as an exhibit.

D-Wave Quantum Inc. (QBTS) reported that NTT DOCOMO, Japan’s largest mobile operator with more than 93 million subscriptions, has deployed a second D-Wave-powered quantum computing application in production network operations. This new application optimizes tracking area lists (TA-Lists) to manage wireless network signaling load.

The deployment reduced the daily peak volume of location registration signals by 65.3% and paging signals by 7.0%, and is used in DOCOMO’s network planning and day-to-day operations. In a representative problem involving 333 base stations, three TA-Lists and nine tracking areas, the quantum optimization completed in approximately five minutes. D-Wave highlights this as evidence that its annealing quantum technology can support practical, production-grade telecom network optimization.

D-Wave Quantum Inc. appointed Kevan P. Krysler as an independent Class I director and member of the Audit Committee, effective August 13, 2026. He will serve until the company’s 2029 Annual Meeting of Stockholders or until a successor is elected and qualified.

Krysler, age 55, is currently chief financial officer of Carbon Robotics and previously held senior finance leadership roles at Everpure, VMware, and KPMG. He will be compensated on the same basis as other non-employee directors, and the company reports no related-party transactions or family relationships connected to his appointment.

D-Wave Quantum Inc. reported Q2 2026 revenue of $3.1 million, essentially flat year over year, while shifting its mix toward larger enterprises: commercial customers contributed 62.4% of revenue and Forbes Global 2000 clients 47.7%. GAAP gross margin was 55.4%, and GAAP operating expenses rose to $55.0 million, up 93% from Q2 2025 as the company increased personnel, marketing and third-party services and absorbed Quantum Circuits-related costs. Net loss narrowed to $48.0 million from $167.3 million, primarily because the prior-year period included substantial non-cash warrant remeasurement charges, though Adjusted EBITDA loss widened to $37.1 million.

For the first half of 2026, bookings climbed to $35.5 million, up 1,120% year over year, including a $20 million system sale, and remaining performance obligations reached $40.7 million, with 57% expected to be recognized as revenue within 12 months and 72% within two years. Revenue was $5.9 million, down sharply from $18.1 million due to a one-time $13.7 million system sale in 2025, but commercial customers accounted for 67.7% of first-half revenue and production QCaaS applications 37.3% of QCaaS revenue. Cash and marketable securities totaled $546.2 million at June 30, 2026, reflecting cash used for the Quantum Circuits acquisition. Strategically, D-Wave emphasized an expanded agreement with AT&T, recognition as a Leader in IDC’s 2026 quantum computing vendor assessment, and detailed annealing and gate-model roadmaps targeting 100,000‑qubit annealing systems by 2031 and multi-stage fault-tolerant gate-model milestones through 2032.

D-Wave Quantum Inc. reports a major hardware breakthrough in gate-model quantum computing, with a peer-reviewed Nature paper demonstrating a fast, high-fidelity two-qubit entangling gate using its superconducting dual-rail qubit architecture. The experiment achieved approximately 99.9% fidelity with gate times of about 500 nanoseconds, enabled by native hardware-level error detection.

Simulations indicate the dual-rail architecture could reduce the logical error rate by as much as a factor of 10 for each increment in error correction, lowering physical qubit overhead for fault-tolerant systems. D-Wave links these results to its gate-model roadmap targeting a 100-logical-qubit system capable of performing more than 1 million operations by 2032, with an error reduction rate Lambda of 10, while continuing its dual-platform strategy in annealing and gate-model quantum computing.

D-Wave Quantum Inc. entered into an agreement with Nasdaq Verafin to evaluate the use of quantum computing to improve financial crime detection. The collaboration starts with a proof-of-concept focused on anti-financial crime use cases, with potential expansion to pilot applications.

The work will apply D-Wave’s quantum-hybrid and annealing technology to machine learning, analyzing hundreds of data signals to identify unusual patterns linked to fraud, scams, and money laundering. Nasdaq Verafin will use this technology to search complex relationships in account activity, transaction patterns, and counterparty networks that conventional tools may miss. The related information is furnished under a Regulation FD disclosure with an accompanying press release as an exhibit.

D-Wave Quantum Inc. reported that AT&T signed an agreement to expand use of its quantum computing technology across AT&T’s network operations. AT&T plans to apply D-Wave’s annealing systems to complex optimization tasks in its agentic AI-powered network tools.

In early work, AT&T used D-Wave technology to cut a network optimization workload’s processing time from approximately one hour to less than 15 seconds and reduce customer downtime by 12 million hours in 2025. AT&T is also evaluating D-Wave’s forthcoming gate-model systems for potential quantum security and communications applications as part of a broader network modernization strategy.

D-Wave Quantum Inc. announced that its CEO, Dr. Alan Baratz, and the management team will ring the Nasdaq Opening Bell on July 27, 2026, marking the company’s listing debut on Nasdaq following a voluntary transfer of its common stock listing.

The company, described as the only dual-platform quantum computing provider offering both annealing and gate-model systems, emphasizes commercial deployments through production-grade hardware, software, and services. Its Leap cloud service provides 99.9% availability and uptime, and more than 100 organizations across commercial, government, and research sectors use its quantum solutions. Certain statements are identified as forward-looking and are subject to risks and uncertainties referenced in its SEC reports.

D-Wave Quantum Inc. will voluntarily transfer the listing of its common stock from the New York Stock Exchange to The Nasdaq Stock Market LLC. Trading on the NYSE is expected to end at market close on July 24, 2026, with Nasdaq trading beginning on July 27, 2026. The common stock has been approved for listing on Nasdaq and will continue to trade under the ticker symbol “QBTS”.

The company states that it has met all Nasdaq listing requirements and expects a smooth transition with no disruption to trading activities. D-Wave describes itself as a provider of quantum computing systems, software and services, including dual-platform annealing and gate-model technologies delivered via its Leap cloud service with 99.9% availability.

D-Wave Quantum Inc. filed an 8-K reporting that it has been named a Leader in the IDC MarketScape: Worldwide Quantum Computing 2026 Vendor Assessment, one of only two companies in the Leaders category. IDC highlighted D-Wave’s broad production deployments across manufacturing, telecom, retail, logistics, defense, and research computing, noting that more than 200 million problems have been submitted to its systems, with system usage up 314% year over year and hybrid solver usage up 114% over six months as of early 2026. The report emphasized D-Wave’s Leap cloud platform, Stride hybrid solver, and onboarding programs, which allow organizations to tackle optimization problems with up to 2 million variables and provide 99.9% availability. IDC also described D-Wave’s roadmap, including a planned multichip 100,000-qubit annealing system and a gate-model program targeting 10 logical qubits by 2030 and 100 logical qubits by 2032 for quantum chemistry and AI applications.

D-Wave Quantum Inc. reported that it has been selected to receive a $1,566,250 grant from the U.S. National Science Foundation through the National Quantum Virtual Laboratory program. The funding supports D-Wave’s role in ERASE, a project developing foundational technologies for scalable, fault-tolerant quantum computing.

D-Wave, via its Quantum Circuits subsidiary in New Haven, will provide superconducting dual-rail gate-model quantum computing resources and access through development interfaces and APIs. The company notes this NSF award builds on growing U.S. government support, including a previously announced Letter of Intent for $100 million in proposed CHIPS and Science Act funding.

D-Wave Quantum Inc. has announced a forthcoming gate-model quantum computing simulator designed specifically for error-aware programming, marking the next step in its gate-model roadmap. Built on dual-rail technology, the simulator is intended to give developers visibility into errors and real-time control so they can better model real processor behavior.

The simulator will be offered through new quantum development bundles, with Starter and Premium packages that include monthly access allocations and guidance from D-Wave experts. Once available on the Leap cloud platform, it is expected to support up to 21 qubits, ideal and hardware emulation modes, and Monte Carlo simulation tools, with access scheduled to begin in September 2026.

D-Wave Quantum Inc. reported the results of its 2026 annual stockholder meeting. Stockholders elected Alan E. Baratz and Sharon Holt as Class I directors to serve until the 2029 annual meeting, approved executive compensation on an advisory basis, and chose an annual frequency for future Say-on-Pay votes. They also ratified Grant Thornton LLP as independent registered public accounting firm for the year ending December 31, 2026. Following the meeting, the Board reallocated several leadership roles, naming Sharon Holt as Chair of the Board and adjusting committee chairs and memberships across the Compensation, Cybersecurity, and Nominating and Governance Committees.

D-Wave Quantum Inc. used its Investor Day to outline its dual-platform strategy in annealing and gate-model quantum computing, long-term technology roadmap, and funding plans. Management discussed a proposed $100 million award under the U.S. CHIPS and Science Act and a related proposed issuance of $100 million in common shares to the U.S. Department of Commerce, alongside research and development initiatives tied to that potential funding.

The company highlighted its January 2026 acquisition of Quantum Circuits Inc., a superconducting gate-model specialist, for approximately $250 million, positioning D-Wave to pursue fault-tolerant gate-model systems based on dual-rail qubits. Slides also showed Q1 2026 Bookings of $33 million, including $2.3 million from Quantum Circuits, and more than $1 billion of capital raised since Q1 2024 through at-the-market programs, warrant exercises, stock options, and an equity line. D-Wave described an at-scale model with QCaaS gross margins of 65%-75%, system gross margins of 75%-90%, and Leap cloud capacity of $25-$30 million in annual QCaaS revenue per production annealing system, with four such systems currently supporting the platform.

D-Wave Quantum Inc. is laying out a new gate-model roadmap aimed at commercial, fault-tolerant quantum computing. The plan targets 100 logical qubits capable of performing over one million operations by 2032, using its superconducting dual-rail architecture and quantum error correction.

The roadmap lists staged systems in 2026, 2027 and 2028 that progressively cut error rates, then a 10-logical-qubit fault-tolerant system by 2030 and a 100-logical-qubit system by 2032 to support early quantum chemistry and AI applications. Management highlights that embedded error detection and higher error-reduction rates are intended to reduce the number of physical qubits needed.

D-Wave Quantum Inc. used this report to respond to claims that new classical simulation research has overturned its earlier demonstration of quantum computational supremacy in quantum simulation. The company states those claims are inaccurate and not supported by the scientific record.

D-Wave explains that the new tensor-network work from the Flatiron Institute does not reproduce the full scope of its peer-reviewed Science result, especially the hardest problem instances and measurements. It reiterates that its annealing quantum processors showed beyond-classical performance in simulating nonequilibrium magnetic spin dynamics across several lattice geometries.

The company notes prior analysis suggesting that matching its largest reported problems with matrix product state methods would require nearly a million years on the Frontier supercomputer, with impractical memory and energy demands. D-Wave welcomes advances in classical algorithms but distinguishes between meaningful classical progress and actually overturning its quantum supremacy result.

D-Wave Quantum Inc. announced it has been awarded second-year funding for the Improved Materials for Superconducting Qubits with Scalable Fabrication (SQFab) project through the Northeast Regional Defense Technology Hub (NORDTECH) under the U.S. Microelectronics Commons program.

The award, made to subsidiary Quantum Circuits, LLC, is part of a group of four quantum-focused programs that together are receiving more than US$25 million in second-year funding after meeting first-year milestones in designing, fabricating, and characterizing quantum components. D-Wave aims to improve materials and scalable fabrication for superconducting qubits, supporting next-generation U.S. microelectronics from research to manufacturing.

Management highlights this as recognition of quantum computing’s role in U.S. microelectronics innovation and notes the work is intended to advance packaging and testing for gate-model superconducting quantum systems, while contributing to domestic semiconductor capabilities and supply-chain resilience.

D-Wave Quantum Inc. has signed a non-final Letter of Intent for $100 million of proposed funding under the U.S. CHIPS and Science Act, administered by the U.S. Department of Commerce. In connection with final award documents, D-Wave would issue $100 million in common shares to the Department, giving the U.S. government an equity stake.

The proposed funding is intended to accelerate development and scaling of D-Wave’s annealing and gate-model quantum systems across R&D sites in Florida, Connecticut and Canada, including targets such as a 100,000‑qubit annealing system and a 10,000‑qubit gate-model system. The company highlights potential advances in quantum applications for optimization, materials simulation, blockchain and AI, while warning of risks such as failure to execute definitive documents, conditions on disbursement, funding availability and dilution to existing shareholders.

D-Wave Quantum Inc. filed an update to clarify the share count disclosed in its recent quarterly report. The Form 10-Q cover page for the quarter ended March 31, 2026 mistakenly showed 366,737,601 common shares outstanding as of May 11, 2026. The correct number of common shares outstanding as of that date was 367,269,074. Both figures explicitly exclude 3,176,096 exchangeable shares that were also outstanding as of May 11, 2026.

D-Wave Quantum Inc. reported mixed first quarter 2026 results that underscore a strategic shift from near-term revenue to long-term contracted growth. Revenue fell to $2.9 million, down 81% from $15.0 million a year earlier when results benefited from a large one-time system sale.

At the same time, commercial traction accelerated. Bookings jumped to $33.4 million, up 1,994% year over year, and remaining performance obligations rose to $42.4 million, up 563%. The company closed a $20 million system sale to Florida Atlantic University and a $10 million, two-year QCaaS agreement with a Fortune 100 company.

D-Wave completed the acquisition of Quantum Circuits, adding a superconducting gate-model platform and driving GAAP operating expenses up to $56.5 million. Net loss widened to $18.4 million, while Adjusted EBITDA loss increased to $32.8 million. Despite heavy investment and $252.1 million of acquisition-related cash outflows, cash and marketable securities totaled $588.4 million as of March 31, 2026, up 93% year over year, supporting an ambitious dual-platform roadmap.

D-Wave Quantum Inc. is organizing Qubits Europe 2026: Quantum Realized, a full-day quantum computing user conference on June 18, 2026, in London. The event will gather customers, partners, researchers and other experts to highlight how organizations are already using D-Wave quantum systems to tackle complex business, scientific and government problems.

D-Wave plans presentations on real-world use cases, live application demos, and updates on its annealing and gate-model hardware, hybrid-quantum software, blockchain initiatives and quantum AI. The conference is part of D-Wave’s global Qubits series, reflecting growing public- and private-sector focus on quantum technologies across the UK, European Union and North America.

D-Wave Quantum Inc. updated the employment agreement for its President and Chief Executive Officer, Dr. Alan Baratz. The Third Amendment, effective April 30, 2026, increases his annual base salary to $700,000, effective as of January 1, 2026. It also provides a grant of restricted stock units with an aggregate value of $13,488,000 under the company’s 2022 Equity Incentive Plan, reflecting the board’s recognition of his years of service and commitment to the company.

D-Wave Quantum Inc. has scheduled its first-ever Investor Day for June 1, 2026 at the New York Stock Exchange and online. The event, themed “The D-Wave Difference,” will run from 1 p.m. to 4 p.m. ET and focus on the company’s technology, product roadmap, commercial traction, and long-term growth strategy.

Management plans to discuss its dual-platform quantum computing approach, progress toward error-corrected gate-model systems, expanding commercial and government customer adoption, the role of quantum in energy-efficient AI and high-performance computing, and how its financial strategy and revenue streams support a path toward sustained growth and profitability.

D-Wave Quantum Inc. reported a strong step-up in scale for 2025, with revenue of $24.6 million, up 179% from $8.8 million in 2024, and GAAP gross margin rising to 82.6%. GAAP gross profit grew to $20.3 million, a 265% increase year over year.

The company ended 2025 with record liquidity, holding $884.5 million in cash and marketable investment securities, helped by $779.1 million of net cash from financing activities, including equity offerings and warrant exercises. However, GAAP operating expenses rose 46% to $120.7 million, reflecting heavier investment in sales, marketing, R&D and corporate infrastructure.

GAAP net loss widened to $355.1 million, largely due to $270.5 million of non‑cash warrant remeasurement and related items, while Adjusted Net Loss was $84.5 million and Adjusted EBITDA Loss was $71.8 million. Strategically, D‑Wave completed the acquisition of Quantum Circuits, Inc., signed a $20 million Advantage2 system sale to Florida Atlantic University, a $10 million two‑year QCaaS agreement with a Fortune 100 company, and a €10 million system capacity deal in Italy, while advancing both annealing and gate‑model technologies.

D-Wave Quantum Inc. filed a current report describing that it has joined the Southeastern Quantum Collaborative as an inaugural member. The group includes The University of Alabama in Huntsville, Davidson Technologies, IBM and Alabama A&M University and is focused on advancing quantum information science across the U.S. Southeast.

The Collaborative aims to build a quantum-ready workforce and translate quantum technologies into practical capabilities for sectors such as defense, logistics, energy and advanced manufacturing. D-Wave highlights that a D-Wave system already hosted at Davidson’s Huntsville, Alabama headquarters positions it to support regional workforce development and mission-focused quantum applications.

The attached press release also reiterates D-Wave’s broader business, including its dual-platform quantum computing offerings, enterprise-grade systems delivered on-premises and via its Leap cloud service, which is described as providing 99.9% availability and uptime for commercial, government and research customers.

D-Wave Quantum Inc. entered into a new enterprise agreement valued at $10 million over two years to provide Quantum Computing as a Service (QCaaS) to a leading Fortune 100 company. The parties plan to work together to build and deploy several applications that use D-Wave’s annealing-based quantum technology for real-world business problems. D-Wave’s CEO, Dr. Alan Baratz, described the deal as a significant milestone in the company’s enterprise adoption and impact, underscoring growing commercial interest in its quantum solutions.

D-Wave Quantum Inc. used a current report to highlight new commercial, technology, and strategic milestones rather than financial results. The company announced that Florida Atlantic University agreed to purchase and install an Advantage2 annealing quantum computer in Boca Raton under a $20 million commitment, supporting Florida’s quantum computing ambitions and a broader education and workforce partnership, subject to Florida public-entity requirements.

D-Wave also described a defense-focused collaboration with Davidson Technologies and Anduril, where its Stride hybrid solver on Advantage2 delivered at least 10x faster time-to-solution, a 9–12% improvement in threat mitigation, and the ability to intercept 45–60 additional missiles in a 500-missile attack simulation versus a classical-only approach. The company outlined enhancements to its annealing platform, including Stride support for surrogate modeling, fast-reverse anneal, and multicolor annealing, and said it is accelerating development of a superconducting gate-model system targeting initial market availability in 2026.

Finally, D-Wave selected Boca Raton, Florida as its new corporate headquarters and key U.S. R&D hub, planning to move from Palo Alto before the end of 2026 while maintaining a distributed North American footprint.

D-Wave Quantum Inc. filed a prospectus supplement with the SEC covering the resale by certain selling stockholders of an aggregate of 10,430,444 shares of its common stock. This means existing holders are being registered to sell these shares publicly under an effective shelf registration on Form S-3ASR.

The company also filed a legal opinion from Paul, Weiss, Rifkind, Wharton & Garrison LLP as an exhibit, confirming the validity of the shares covered by the prospectus supplement and incorporating that opinion into the existing registration statement.

D-Wave Quantum Inc. completed its previously announced acquisition of Quantum Circuits, Inc., gaining all of its issued and outstanding equity. The deal consideration at closing consisted of 10,430,444 shares of D-Wave common stock plus $250,000,000 in cash, subject to net debt and other adjustments under the merger agreement.

In connection with issuing the stock portion of the consideration, D-WWave and the former Quantum Circuits securityholders entered into a Registration Rights Agreement granting registration rights for the stock consideration. D-Wave highlights risks that integration challenges, higher-than-expected costs, or failure to realize synergies between annealing and gate-model quantum computing could hurt its business and share price. The company also reiterates forward-looking plans, including its dual-platform roadmap and an intention to make an initial gate-model system available in 2026.

D-Wave Quantum Inc. filed a current report describing a press conference it hosted on January 7, 2026 about its previously announced agreement to acquire all of the issued and outstanding equity of Quantum Circuits, Inc. The company used an investor presentation for this event, which is provided as Exhibit 99.1 and incorporated by reference.

The disclosure is made under Regulation FD, meaning it is intended to share the same information with the wider market that was discussed at the press conference. The company notes that the presentation and related materials are being furnished rather than filed, which limits how they are treated for certain securities law liability and incorporation-by-reference purposes.

D-Wave Quantum Inc. entered into a definitive Agreement and Plan of Merger to acquire all of the equity of Quantum Circuits, Inc.. The deal values the transaction at $550,000,000, consisting of Common Stock with a value of $300,000,000 plus $250,000,000 in cash, subject to net debt and other adjustments. The number of D-Wave shares to be issued will be based on a 10-day volume-weighted average price, with a collar between $22.30 and $39.03 per share.

Unvested Quantum Circuits stock options will be assumed and converted into D-Wave options, while vested options and warrants will be cancelled for a pro rata share of the consideration. Closing is subject to customary conditions, including Hart-Scott-Rodino clearance, absence of certain adverse events, accuracy of representations, and NYSE authorization of the new shares, and the transaction can be terminated if not closed by April 6, 2026.

D-Wave will issue the stock portion of the consideration in unregistered transactions relying on exemptions including Section 4(a)(2), Regulation D and Regulation S. Key employees will be subject to lock-up agreements restricting transfers of 50% of their D-Wave stock for up to five years, with potential accelerated release based on continued employment or certain termination events.

D-Wave Quantum Inc. reported a major technical milestone in gate-model quantum computing. The company successfully demonstrated scalable on-chip cryogenic control of qubits, which is described as an industry-first achievement. This approach reduces the amount of wiring needed to manage large numbers of qubits while maintaining qubit fidelity, an important factor for reliable quantum operations.

D-Wave states that this result confirms the on-chip cryogenic control technology already used in its commercial annealing quantum processing units can also be applied to its gate-model architectures. According to chief development officer Dr. Trevor Lanting, the company believes this positions it to deliver what it describes as the first truly scalable, commercial-grade gate-model quantum system. The announcement was made through a press release furnished as an exhibit.

D-Wave Quantum Inc. reported that it will host its Qubits 2026 quantum computing user conference in Boca Raton, Florida on January 27–28, 2026. The event will bring together D-Wave executives, customers, industry leaders, and scientists to discuss how the company’s energy-efficient annealing quantum computers and hybrid-quantum solvers are being used in real-world applications.

During Qubits 2026, D-Wave plans to present its latest technology roadmap for both annealing and gate-model initiatives, emphasizing its focus on commercial-grade superconducting quantum technology and long-term strategic vision. The announcement was made through a press release, which is included as an exhibit to this report and is furnished rather than filed for securities law purposes.

D-Wave Quantum Inc. announced the formation of a new business unit focused on expanding adoption of its quantum computing products and services within the U.S. government. The unit will coordinate government-related initiatives across the company and concentrate on national security, defense, and infrastructure applications.

The business will be led by Jack Sears Jr., who joins D-Wave’s executive team as vice president of U.S. government solutions. He brings more than 25 years of experience working with federal government customers in the defense and aerospace sectors, including responsibilities for growth strategy, pricing, proposals, and federal acquisition compliance.

D-Wave also highlighted that its Advantage2 quantum computer is now operational at the Alabama headquarters of Davidson Technologies, Inc., a mission-driven technology company that supports U.S. Department of War and commercial aerospace customers, and is expected to be used for mission-critical and eventually sensitive government applications.

D-Wave Quantum Inc. reported that it has completed the redemption of all of its outstanding public warrants to purchase common stock. Before the November 19, 2025 redemption date, 4,746,358 warrants were exercised for approximately 6.9 million shares of common stock at an exercise price of $11.50 per warrant, generating cash proceeds of approximately $54.6 million for the company.

As of the redemption deadline, 270,820 warrants remained unexercised and were redeemed at $0.01 per warrant, for a total redemption price of $2,708.20 under the warrant agreement terms. Following this redemption, no public warrants remain outstanding. The warrants stopped trading on the NYSE with a trading suspension effective November 18, 2025, while the common stock continues to trade under the symbol QBTS.

D-Wave Quantum Inc. announced it will redeem all outstanding public warrants at $0.01 per Warrant at 5:00 p.m. New York City time on November 19, 2025. Holders may exercise their Warrants until that deadline by contacting their broker; any Warrant not exercised by then will be void, with holders entitled only to the redemption price.

Each Warrant is exercisable for 1.4541326 shares of common stock for an aggregate cash price of $11.50 per Warrant, with any fractional share rounded down to the nearest whole share. The redemption right was triggered because the common stock traded at least $18.00 per share on 20 trading days within a 30‑day period, as required under the Warrant Agreement. The company expects November 17, 2025 to be the last NYSE trading day for the Warrants. The underlying shares are registered under an effective registration statement dated April 12, 2024.

D‑Wave Quantum Inc. (QBTS) furnished an 8‑K announcing financial results for its fiscal third quarter ended September 30, 2025. The company made available a press release and an investor presentation covering financial results alongside business, product, and technical updates. These materials are furnished, not filed, and are included as Exhibits 99.1 and 99.2. The company’s common stock trades on the NYSE as QBTS, and its warrants trade as QBTS.WT.

D‑Wave Quantum Inc. (QBTS) furnished an update on a joint proof‑of‑concept with BASF showing a hybrid‑quantum application optimized manufacturing workflows at a BASF liquid‑filling facility. The technology set a new benchmark for efficiency by cutting production scheduling time from 10 hours to seconds.

The application was built to minimize setup time between products, speed tank offloading, and reduce tardiness versus due dates. In real‑world testing, it outperformed an existing solution across key metrics: lateness decreased by 14%, setup times fell 9%, and tank unloading durations shortened by up to 18%. D‑Wave views this as an important step toward deploying hybrid‑quantum applications in production for manufacturing and supply chain operations. The information was furnished under Item 7.01, along with a press release as Exhibit 99.1.

D‑Wave Quantum Inc. (QBTS) announced that its Advantage2 quantum computer is now operational at Davidson Technologies’ headquarters in Huntsville, Alabama. The system is intended to address mission‑critical U.S. government problems in areas such as radar detection, resource deployment, military logistics optimization, materials science, AI, and national security, and will eventually run sensitive applications.

This marks a major milestone in a multi‑year agreement and technology collaboration between D‑Wave and Davidson to accelerate quantum computing adoption among U.S. government agencies. The system is available for customer use now via D‑Wave’s Leap real‑time quantum cloud service. It is D‑Wave’s second U.S.-based annealing quantum computer and the first in Alabama, underscoring growing regional support for advanced technology tied to national defense.

D-Wave Quantum Inc. (QBTS) announced a €10M contract tied to Italy’s Q-Alliance initiative, supporting a planned quantum computing and research facility in Lombardy. The agreement covers acquisition of 50% capacity of an Advantage2 annealing quantum computer for five years, with an option to purchase the full system. The company is also hosting seminars in Italy to advance annealing quantum computing awareness among universities, with initial workshops at the Università dell’Insubria and the Università della Svizzera Italiana.

The disclosure was made under Regulation FD, and a related press release was furnished as an exhibit. The effort aims to make the Advantage2 system accessible to Italy’s scientific community, academia, and industry as part of the government’s digital and quantum technology framework.

D-Wave Quantum Inc. announced it will redeem all outstanding public warrants at $0.01 per Warrant at 5:00 p.m. New York City time on November 19, 2025. As of October 17, 2025, approximately 5 million Warrants were outstanding. Holders may exercise until the deadline; unexercised Warrants will be void and paid the redemption price.

Each Warrant is exercisable for 1.4541326 shares of common stock for $11.50 per Warrant. If all Warrants are exercised, the company expects to issue approximately 7.2 million shares, resulting in less than 2.1% dilution. The redemption is permitted after the stock traded at or above $18.00 on at least twenty days within a thirty‑day period. The Warrants are expected to trade on the NYSE through November 17, 2025.

D‑Wave Quantum (QBTS) announced an agreement with Swiss Quantum Technology SA to deploy an Advantage2 annealing quantum computer in Europe. The agreement represents a €10M quantum computing‑as‑a‑service commitment over approximately five years, with an option for SQT to purchase the system.

The Advantage2 system, featuring a 4,400+ qubit processor, will be accessible to customers via D‑Wave’s Leap real‑time quantum cloud service. The placement supports Italy’s newly formed Q‑Alliance initiative aimed at advancing national digital transformation. Company leadership highlighted the system’s capability to tackle complex problems and its energy‑efficient design. The disclosure was furnished under Regulation FD, and a press release is included as Exhibit 99.1.

D-Wave Quantum Inc. (QBTS) reported under Regulation FD that it was named a winner in Fast Company’s 2025 Next Big Things in Tech awards. The recognition, in the Computing, Chips and Foundational Technology category, highlights D-Wave’s 4400+ qubit Advantage2 annealing quantum computer.

Launched in May 2025, Advantage2 is being used by customers for optimization, materials simulation, and AI. The system features a Zephyr topology with 20-way connectivity designed for production deployment. The announcement was furnished, not filed, under Item 7.01.

D-Wave Quantum Inc. (QBTS) furnished an Item 7.01 update announcing it is a founding participant in Q-Alliance, described as “The Birth of the World’s Most Powerful Quantum Hub,” following a Memorandum of Understanding signed in Como, Italy. The initiative is tied to Italy’s digital and quantum strategy and aims to accelerate scientific discovery, industrial transformation, and digital sovereignty.

D-Wave highlights its production-grade annealing quantum computing as a core component to support application development and adoption. A related press release was included as Exhibit 99.1. The information was furnished, not filed, under the Exchange Act.

D-Wave Quantum Inc. filed an 8-K describing a completed proof-of-technology project with North Wales Police that used a hybrid-quantum application to optimize deployment of police vehicles for emergency response. The hybrid-quantum solution, accessed through D-Wave’s Leap^TM cloud service, delivered faster, more accurate, and more efficient results than classical methods.

According to the filing, the new application cut police vehicle coordination time from four months to four minutes and enabled North Wales Police to reduce average incident response time by nearly 50%. The test also showed the force could respond to at least 90% of incidents within its target response time using the hybrid-quantum approach. The details were disclosed via a press release attached as an exhibit.

D-Wave is hosting its first Qubits Japan 2025 user conference in Tokyo on September 17, themed "Quantum Realized", to showcase commercial uses of its annealing quantum computing technology. The company reports APAC bookings are up 83% over the past 12 months, and highlights customers exploring AI/ML and optimization solutions. Noted APAC engagements include a pilot with Japan Tobacco Inc. on quantum AI drug discovery, an optimization pilot completed by NTT DOCOMO Inc., and a strategic relationship with Yonsei University and Incheon Metropolitan City to support efforts to acquire a D-Wave Advantage2™ system. A press release is attached as Exhibit 99.1.