D-Wave Revenue Soars 179% as Liquidity Hits $884 Million, Stock Gains 5%
Investors focused on whether large system deals can convert into steadier recurring revenue.
Overview
- GAAP gross margin reached 82.6%, lifted by a premium quantum system sale completed during the year.
- Total bookings came in at about $32.8 million, with engagements spanning more than 135 customers.
- Recent wins included a $10 million, two-year services agreement with a Fortune 100 company and a $20 million Advantage2 system sale to Florida Atlantic University.
- D-Wave completed the acquisition of Quantum Circuits, adding error-corrected superconducting qubit technology and strengthening its dual-platform roadmap.
- The company designated Boca Raton as its future U.S. headquarters, expanded U.S. government work, and increased operating spend to scale sales, marketing, and R&D.