Welcome to our dedicated page for D-Wave Quantum SEC filings (Ticker: QBTS), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
D-Wave Quantum Inc. filings document the regulatory record for a public quantum computing company that develops annealing and gate-model systems, software and services. The company’s Form 8-K disclosures include operating results, financial-condition updates, investor presentations, Regulation FD announcements, customer and collaboration developments, user conferences and product or technical updates.
Proxy and governance filings cover board matters, executive compensation, equity awards and shareholder voting items. Other material-event filings describe compensation arrangements, the company’s equity incentive plan, subsidiary agreements and formal disclosures tied to its commercial quantum computing business.
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 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 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.
BlackRock, Inc. reports beneficial ownership of common stock of D-Wave Inc. amounting to 30,566,629 shares, representing 8.3% of the class. BlackRock has sole voting power over 29,945,216 shares and sole dispositive power over 30,566,629 shares, with no shared voting or dispositive power reported. Various underlying clients have economic interests in these shares, but no single client holds more than five percent of D-Wave’s outstanding common shares.
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. is taking steps to remove its common stock from listing and registration on the New York Stock Exchange under Section 12(b) of the Securities Exchange Act of 1934 via Form 25. The filing relates to the company’s common stock, par value $0.0001 per share.
The company certifies that it has reasonable grounds to believe it meets all requirements for filing Form 25 and that applicable Exchange and SEC rules governing withdrawal from listing and registration have been complied with. The notification is signed by President and Chief Executive Officer Alan Baratz on July 24, 2026.
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. executive Sophie C Ames, Executive Vice President & CHRO, reported selling 3,070 shares of common stock on July 20, 2026 at a weighted average price of $16.9517 per share. The sale occurred automatically under a Rule 10b5-1 trading plan adopted June 13, 2025 and modified September 12, 2025. After the transaction, she directly holds 589,009 shares, including 583,019 unvested restricted stock units. The shares were sold in multiple trades at prices ranging from $16.72 to $17.48 per share.