{"data":{"ticker":"QBTS","slug":"d-wave-quantum","name":"D-Wave Quantum","exchange":"NYSE","sector":"Technology","headquarters":"Burnaby, British Columbia, Canada","ceo":"Alan E. Baratz","employees":382,"website":"https://www.dwavequantum.com","founded":"1999","layers":[{"slug":"quantum-computing","name":"Quantum Computing"}],"exposure":{"score":55,"tier":"Strategic","rationale":"D-Wave sells quantum annealing systems and Leap cloud access for optimization and hybrid quantum-classical machine learning workloads. The stock trades as a frontier compute bet adjacent to AI, and exposure hinges on quantum proving useful for commercial AI-scale problems."},"quote":{"price":10.68,"change24hPct":18.01,"change7dPct":0.28,"change30dPct":-26.85,"change1yPct":-63.8,"high52w":32.19,"low52w":9.05,"marketCap":4054412544,"peRatio":null,"eps":-0.69,"volume24h":281542998},"nextEarningsDate":"2026-11-10","summary":"D-Wave Quantum is a quantum computing company. It builds annealing quantum systems, machines suited to optimization problems, alongside gate-model development, and sells access through hardware placements and its Leap cloud service. Customers use it for optimization, machine learning, and materials research.","explainer":["D-Wave Quantum is a quantum computing company. It builds annealing quantum systems, machines suited to optimization problems, alongside gate-model development, and sells access through hardware placements and its Leap cloud service. Customers use it for optimization, machine learning, and materials research.","Its lineup includes the Advantage quantum computer, Leap Quantum Cloud for on-demand access, Quantum AI Optimization for solving scheduling and logistics problems, and Hybrid Quantum-Classical ML that pairs quantum hardware with conventional machine learning.","Founded in 1999 and headquartered in Burnaby, British Columbia, Canada, D-Wave trades on the NYSE and employs about 380 people under CEO Alan Baratz."],"buildoutRole":"D-Wave sits in the Quantum Computing layer as a frontier compute bet adjacent to the AI buildout. Its annealing systems and Leap cloud service target optimization and hybrid quantum-classical machine learning, workloads that overlap with where AI is headed. The exposure hinges on quantum computing proving useful for commercial AI-scale problems, which remains an open question. Supercycle scores its AI exposure at 55 out of 100.","faq":[{"q":"What does D-Wave Quantum do?","a":"D-Wave builds quantum computers, led by its annealing systems suited to optimization problems, plus gate-model development. It sells system access and its Leap cloud service to customers working on optimization, ML, and materials problems."},{"q":"How is D-Wave exposed to AI?","a":"As a frontier compute bet. Its systems target optimization and hybrid quantum-classical machine learning, and the exposure depends on quantum proving useful for commercial AI-scale problems. Supercycle rates its AI Exposure Score at 55 out of 100."},{"q":"What are D-Wave's main products?","a":"The Advantage quantum computer, Leap Quantum Cloud for on-demand quantum access, Quantum AI Optimization tools for problems like scheduling and logistics, and Hybrid Quantum-Classical ML workflows."},{"q":"Is QBTS a pure play AI stock?","a":"No. D-Wave is a quantum computing company whose AI link runs through hybrid quantum-classical workloads. Its AI Exposure Score of 55 out of 100 reflects an adjacent, still-unproven connection to AI demand."},{"q":"Where is D-Wave based and who leads it?","a":"D-Wave is headquartered in Burnaby, British Columbia, Canada, and led by CEO Alan Baratz. Founded in 1999, the company employs about 380 people and trades on the NYSE."}],"history1y":[{"date":"2026-09-28","close":16.78},{"date":"2026-09-29","close":16.43},{"date":"2026-09-30","close":16.57},{"date":"2026-10-01","close":16.56},{"date":"2026-10-02","close":15.77},{"date":"2026-10-05","close":15.64},{"date":"2026-10-06","close":15.79},{"date":"2026-10-07","close":15.22},{"date":"2026-10-08","close":14.6},{"date":"2026-10-09","close":14.57},{"date":"2026-10-12","close":13.74},{"date":"2026-10-13","close":13.38},{"date":"2026-10-14","close":12.03},{"date":"2026-10-15","close":12.81},{"date":"2026-10-16","close":11.78},{"date":"2026-10-19","close":11.83},{"date":"2026-10-20","close":11.78},{"date":"2026-10-21","close":12.1},{"date":"2026-10-22","close":11.63},{"date":"2026-10-23","close":11.66},{"date":"2026-10-26","close":11.54},{"date":"2026-10-27","close":12.13},{"date":"2026-10-28","close":11.77},{"date":"2026-10-29","close":11.56},{"date":"2026-10-30","close":10.65},{"date":"2026-11-02","close":10.09},{"date":"2026-11-03","close":10.37},{"date":"2026-11-04","close":10.38},{"date":"2026-11-05","close":9.05},{"date":"2026-11-06","close":10.68}],"incomeStatements":[{"ticker":"QBTS","report_period":"2025-12-31","fiscal_period":"2025-FY","period":"annual","currency":"USD","revenue":24587000,"cost_of_revenue":4281000,"gross_profit":20306000,"operating_expense":0,"operating_income":-100368000,"net_income":-355062000,"earnings_per_share":-1.11,"earnings_per_share_diluted":-1.11,"research_and_development":50734000,"selling_general_and_administrative_expenses":69940000,"interest_expense":0,"income_tax_expense":0,"weighted_average_shares_diluted":0},{"ticker":"QBTS","report_period":"2024-12-31","fiscal_period":"2024-FY","period":"annual","currency":"USD","revenue":8827000,"cost_of_revenue":3264000,"gross_profit":5563000,"operating_expense":0,"operating_income":-77223000,"net_income":-143879000,"earnings_per_share":-0.75,"earnings_per_share_diluted":-0.75,"research_and_development":35300000,"selling_general_and_administrative_expenses":47486000,"interest_expense":0,"income_tax_expense":0,"weighted_average_shares_diluted":0},{"ticker":"QBTS","report_period":"2023-12-31","fiscal_period":"2023-FY","period":"annual","currency":"USD","revenue":8758000,"cost_of_revenue":4136000,"gross_profit":4622000,"operating_expense":0,"operating_income":-80546000,"net_income":-82715000,"earnings_per_share":-0.6,"earnings_per_share_diluted":-0.6,"research_and_development":37878000,"selling_general_and_administrative_expenses":47290000,"interest_expense":0,"income_tax_expense":0,"weighted_average_shares_diluted":0},{"ticker":"QBTS","report_period":"2022-12-31","fiscal_period":"2022-FY","period":"annual","currency":"USD","revenue":7173000,"cost_of_revenue":2923000,"gross_profit":4250000,"operating_expense":0,"operating_income":-59458000,"net_income":-53702000,"earnings_per_share":-0.45,"earnings_per_share_diluted":-0.45,"research_and_development":32101000,"selling_general_and_administrative_expenses":31607000,"interest_expense":0,"income_tax_expense":0,"weighted_average_shares_diluted":0}],"balanceSheets":[{"ticker":"QBTS","report_period":"2025-12-31","fiscal_period":"2025-FY","period":"annual","currency":"USD","total_assets":915813000,"current_assets":896232000,"cash_and_equivalents":635347000,"total_liabilities":63583000,"current_liabilities":21148000,"total_debt":43457000,"shareholders_equity":852230000,"retained_earnings":-982002000},{"ticker":"QBTS","report_period":"2024-12-31","fiscal_period":"2024-FY","period":"annual","currency":"USD","total_assets":199853000,"current_assets":185040000,"cash_and_equivalents":177980000,"total_liabilities":137207000,"current_liabilities":30145000,"total_debt":38377000,"shareholders_equity":62646000,"retained_earnings":-626940000},{"ticker":"QBTS","report_period":"2023-12-31","fiscal_period":"2023-FY","period":"annual","currency":"USD","total_assets":59356000,"current_assets":47046000,"cash_and_equivalents":41307000,"total_liabilities":83837000,"current_liabilities":11250000,"total_debt":72651000,"shareholders_equity":-24481000,"retained_earnings":-483061000},{"ticker":"QBTS","report_period":"2022-12-31","fiscal_period":"2022-FY","period":"annual","currency":"USD","total_assets":26947000,"current_assets":13925000,"cash_and_equivalents":7065000,"total_liabilities":56410000,"current_liabilities":16040000,"total_debt":42285000,"shareholders_equity":-29463000,"retained_earnings":-400346000}],"holders13f":[],"news":[{"title":"Rigetti Soars 17%, D-Wave Up 17% as IonQ Raises Guidance to “An Industry Record”","source":null,"url":"https://www.tikr.com/blog/rigetti-soars-17-d-wave-up-17-as-ionq-raises-guidance-to-an-industry-record?ref=yahoofinance&tlnk=yf-261106-cpj55426&.tsrc=rss","date":"2026-11-06"},{"title":"D-Wave Quantum (QBTS) Unveils Solver Upgrade as Investors Weigh Whether The Stock Is Undervalued","source":null,"url":"https://finance.yahoo.com/markets/stocks/articles/d-wave-quantum-qbts-unveils-101457603.html?.tsrc=rss","date":"2026-11-06"},{"title":"D Wave Quantum (QBTS) Upgraded Its Stride Hybrid Solver","source":null,"url":"https://finance.yahoo.com/technology/ai/articles/d-wave-quantum-qbts-upgraded-201813713.html?.tsrc=rss","date":"2026-11-05"},{"title":"D-Wave Sinks 8%, Rigetti Down 8%, IonQ Down 8% as Quantum Stocks Slide Again","source":null,"url":"https://www.tikr.com/blog/d-wave-sinks-8-rigetti-down-8-ionq-down-8-as-quantum-stocks-slide-again?ref=yahoofinance&tlnk=yf-261105-p9jvcx5c&.tsrc=rss","date":"2026-11-05"},{"title":"Can D-Wave Quantum Stock Fall 50%?","source":null,"url":"https://www.trefis.com/stock/qbts/articles/622821/can-d-wave-quantum-stock-fall-50/2026-11-05?.tsrc=rss","date":"2026-11-05"},{"title":"Why D-Wave Quantum Stock Led a Quantum Computing Crash in October","source":null,"url":"https://www.fool.com/investing/2026/11/04/why-d-wave-quantum-stock-led-a-quantum-computing-crash-in-october/?.tsrc=rss","date":"2026-11-04"},{"title":"D-Wave Boosts Stride Hybrid Solver Performance, Launches Developer Training to Accelerate Quantum Optimization Adoption","source":null,"url":"https://finance.yahoo.com/technology/ai/articles/d-wave-boosts-stride-hybrid-120000984.html?.tsrc=rss","date":"2026-11-04"},{"title":"Not IonQ. Not Rigetti. This Quantum Computing Stock Could Be the Next to Soar.","source":null,"url":"https://www.fool.com/investing/2026/11/04/not-ionq-not-rigetti-this-quantum-computing-stock/?.tsrc=rss","date":"2026-11-04"}]},"meta":{"version":"v1","asOf":"2026-11-06","builtAt":"2026-11-08T15:24:45.715Z","tier":"free","source":"https://supercyclehq.com/stock/d-wave-quantum","disclaimer":"Informational only, not investment advice. The AI Exposure Score is Supercycle's editorial opinion. Agent portfolios are simulated paper portfolios run by AI.","license":"Free to use and quote with attribution to supercyclehq.com. Do not redistribute as a dataset."},"links":{"self":"https://supercyclehq.com/api/v1/stocks/QBTS","html":"https://supercyclehq.com/stock/d-wave-quantum","md":"https://supercyclehq.com/stock/d-wave-quantum.md","docs":"https://supercyclehq.com/api/v1/openapi.json"}}