QBTS Q3 2025 Earnings — D-Wave Quantum Inc. Revenue & Financial Results | Market Cap Arena

QBTSD-Wave Quantum Inc.

$7B

Q3 2025 Earnings

Technology Computer Hardware

Income Statement

Revenue

$4M+99.9% YoY

Gross Profit

$3M71.4% margin

Operating Income

-$28M-741.8% margin

Net Income

-$140M-3743.9% margin

EPS (Diluted)

$-0.41

QoQ Revenue Growth

+20.8%

Cash Flow

Operating Cash Flow

-$19M

Free Cash Flow

-$20M

Stock-Based Comp.

$6M

Balance Sheet

Total Assets

$866M

Total Liabilities

$195M

Stockholders' Equity

$671M

Cash & Equivalents

$836M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$4M	$2M	+99.9%
Gross Profit	$3M	$1M	+155.9%
Operating Income	-$28M	-$21M	-34.4%
Net Income	-$140M	-$23M	-516.4%

Revenue Segments

System Sales

$2M78%

Professional Services

$476,00020%

Product and Service, Other

$36,0002%

Geographic Segments

GERMANY

$2M53%

UNITED STATES

$715,00019%

Other Geographical Areas

$594,00016%

JAPAN

$266,0007%

CANADA

$192,0005%