D-Wave Quantum Inc. — Earnings
Most recent reported period: FY2025 (Q4) (filed for period ending 2025-12-31) · sourced from SEC EDGAR
Next earnings (estimated): Wed, April 1, 2026 — 30 days overdue (likely already filed but EDGAR cache cold). Anchored to latest quarter-end + 91 days. Analyst-confirmed dates land in a follow-up wave.
YoY = vs same quarter prior year (seasonality-adjusted)
Recent earnings · last 8 quarters
| Quarter end | Revenue | YoY | Net Income | YoY | Op. Margin |
|---|---|---|---|---|---|
| 2025-12-31 | $3M | ↑+19.2% | — | — | — |
| 2025-09-30 | $4M | ↑+99.9% | $-140M | ↓-516.4% | -741.8% |
| 2025-06-30 | $1M | ↓-54.2% | $-167M | ↓-841.2% | -2650.2% |
| 2025-03-31 | $15M | ↑+508.6% | $-5M | ↑+68.7% | -75.3% |
| 2024-12-31 | $2M | ↓-20.5% | — | — | — |
| 2024-09-30 | $2M | ↓-27.0% | $-23M | ↓-41.0% | -1103.5% |
| 2024-06-30 | $2M | ↑+27.9% | $-18M | ↑+32.1% | -863.0% |
| 2024-03-31 | $2M | ↑+55.7% | $-17M | ↑+29.1% | -710.6% |
Analyst consensus estimates (EPS / Revenue) and implied move from options will land in a follow-up wave. For now, YoY-vs-prior-year-quarter is the surprise proxy.
Last earnings · FY2025 (Q4)
Revenue
$3M
↑+19.2% +$443K YoY
Earnings surprise · last 8 quarters
YoY % change · proxy for analyst surprise until estimates landEPS history · last 10 fiscal years
diluted, GAAP, annualNote: EPS reflects WEIGHTED-AVERAGE diluted shares for each fiscal year. Pre-stock- split values can blow up the early bars if SEC's XBRL data isn't split-adjusted — flagged as a known limitation; cumulative split-adjustment is a follow-up.
Margin trends · 20 quarters
margin trajectory tells the operating-leverage storyGross Margin↑+1.0pts
64.8%
Operating Margin↑+361.7pts
-741.8%
Net Margin↓-2529.4pts
-3743.9%
Go deeper
QBTS Sankey — flow of dollars
See how revenue waterfalls through every line item to net income for the latest reported quarter, with prior-period comparison.
Open SankeyQBTS Key Metrics — EPS, ROE, ROIC
10 CFA-grade fundamental ratios — EPS, BVPS, ROE, ROA, ROIC, Debt/Equity, Current Ratio. Compare across years.
Open Key Metrics