D-Wave Quantum Revenue Surges Nearly 100% to $3.7 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
0mins
Source: Fool
- Significant Revenue Growth: D-Wave Quantum's revenue nearly doubled in the recent quarter, reaching $3.7 million with a GAAP gross margin exceeding 70%, indicating substantial progress in the commercialization of quantum computing.
- Expanding Customer Base: D-Wave now serves over 100 revenue-generating customers, including two dozen Forbes Global 2000 companies, showcasing its strong market appeal and customer trust.
- Contract Signing Enhances Revenue Visibility: The company signed a €10 million, five-year contract with Swiss Quantum Technology, which not only provides multi-year revenue visibility but also strengthens its market position in the quantum computing sector.
- Technology Platform in Full Production: D-Wave's Advantage2 annealing platform is now fully operational, capable of optimizing larger and more complex problems, having processed over 20.6 million customer problems to date, demonstrating the maturity of its technology and robust market demand.
QBTS
$25.29+Infinity%1D
Analyst Views on QBTS
Wall Street analysts forecast QBTS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for QBTS is 38.89 USD with a low forecast of 35.00 USD and a high forecast of 48.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Analyst Rating
9 Buy
0 Hold
0 Sell
Strong Buy
Current: 27.520
Low
35.00
Averages
38.89
High
48.00
Current: 27.520
Low
35.00
Averages
38.89
High
48.00
About QBTS
D-Wave Quantum Inc. is a quantum computing company, which is engaged in the development and delivery of quantum computing systems, software, and services. The Company builds and delivers systems, cloud services, application development tools, and professional services to support the end-to-end quantum computing journey for enterprises and developers. The Company's products include Cloud Platform, Systems, Professional Services, and others. Under its Cloud Platform, the Leap quantum cloud service delivers immediate, real-time access to its quantum computers and hybrid solvers services. Under its Systems, the Advantage quantum system is a quantum computer designed for business. It also offers quantum applications to a range of customers, including resource scheduling, factory scheduling, industrial construction design, drug discovery, and others. It offers solutions across workforce scheduling, production scheduling, vehicle routing, resource optimization, and cargo loading.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
