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QBTS Q4 2025 Earnings — D-Wave Quantum Inc. Revenue & Financial Results | Market Cap Arena
QBTS
D-Wave Quantum Inc.
$7B
Q4 2025 Earnings
Technology
Computer Hardware
Income Statement
Revenue
$3M
+19.2% YoY
Gross Profit
$2M
64.8% 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
$682,000
49%
System Sales
$667,000
48%
Product and Service, Other
$44,000
3%
Geographic Segments
GERMANY
$803,000
29%
UNITED STATES
$732,000
26%
SWITZERLAND
$629,000
22%
JAPAN
$412,000
15%
Other Geographical Areas
$123,000
4%
CANADA
$114,000
4%
← FY 2025
All Quarters