QBTS Q4 2025 Earnings — D-Wave Quantum Inc. Revenue & Financial Results | Market Cap Arena

QBTSD-Wave Quantum Inc.

$7B

Q4 2025 Earnings

Technology Computer Hardware

Income Statement

Revenue

$3M+19.2% YoY

Gross Profit

$2M64.8% margin

Operating Income

-$35M-1266.0% margin

Net Income

-$42M-1538.0% margin

EPS (Diluted)

$-0.12

QoQ Revenue Growth

-26.4%

Cash Flow

Operating Cash Flow

-$18M

Free Cash Flow

-$20M

Stock-Based Comp.

$6M

Balance Sheet

Total Assets

$916M

Total Liabilities

$64M

Stockholders' Equity

$852M

Cash & Equivalents

$635M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$3M	$2M	+19.2%
Gross Profit	$2M	$1M	+21.1%
Operating Income	-$35M	-$20M	-72.2%
Net Income	-$42M	-$86M	+50.8%

Revenue Segments

Professional Services

$682,00049%

System Sales

$667,00048%

Product and Service, Other

$44,0003%

Geographic Segments

GERMANY

$803,00029%

UNITED STATES

$732,00026%

SWITZERLAND

$629,00022%

JAPAN

$412,00015%

Other Geographical Areas

$123,0004%

CANADA

$114,0004%