D-Wave Quantum Inc. (QBTS) Q1 2026 Earnings Call Transcript
Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
Overview
The earnings call showed a strong financial performance with a 25% increase in revenue and improved gross margins. Operating expenses decreased, and there was a notable improvement in adjusted EBITDA loss. Bookings rose by 20%, indicating strong customer acquisition and retention. The lack of strategic initiatives or risks discussed may limit the upside, but overall, the financial metrics suggest a positive sentiment, likely leading to a 2% to 8% stock price increase.
Key Financial Performance
Revenue $2.2 million, a 25% increase year-over-year, driven by higher customer demand and expanded commercial engagements.
Gross Margin 40%, up from 35% year-over-year, attributed to improved operational efficiencies and cost management.
Adjusted EBITDA Loss $3.5 million, a 10% improvement year-over-year, due to reduced operating expenses and better cost control.
Operating Expenses $5.8 million, a 5% decrease year-over-year, reflecting disciplined spending and cost optimization efforts.
Bookings $3.0 million, a 20% increase year-over-year, supported by strong customer acquisition and retention.
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Operating Highlights
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Risk or Challenges
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Guidance & Outlook
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Shareholder Return Plan
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Key Q&A
Q:Review of Unclear Management Responses
A:
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Earnings Word Cloud
The most frequently occurring keywords in this quarter's earning call
Alan Baratz
Anderson Craig
Antoine Legault
CFO Quinn
Cantor Fitzgerald
Cowen Research
Craig Ellis
Director
Division Antoine
Division Craig
Division EDT
Division McPeake
Division Ruben
Division Sreekrishnan
Division Tyler
EDT Wave
Executive VP
Fitzgerald Co
Inc Research
Jensen Cantor
LLC Research
Legault Wedbush
Markovich Executive
Perry Anderson
Quinn Bolton
Relations Alan
Research Division
Roy Stifel
Ruben Roy
Sankarnarayanan TD
Securities Inc
Sreekrishnan Sankarnarayanan
Troy Jensen
QBTS Transcript
D-Wave Quantum Inc. (QBTS) Q1 2026 Earnings Call Transcript
Positive5-12
The earnings call showed a strong financial performance with a 25% increase in revenue and improved gross margins. Operating expenses decreased, and there was a notable improvement in adjusted EBITDA loss. Bookings rose by 20%, indicating strong customer acquisition and retention. The lack of strategic initiatives or risks discussed may limit the upside, but overall, the financial metrics suggest a positive sentiment, likely leading to a 2% to 8% stock price increase.
D-Wave Quantum Inc. (QBTS) Q4 2025 Earnings Call Transcript
Positive2-26
The earnings call highlights several positive aspects: ongoing product development, a strong pipeline, and strategic government opportunities. The Q&A section reveals some uncertainties, such as unclear timelines and retention rates, but these are outweighed by the positive sentiment around new contracts, system scalability, and the company's market positioning. The absence of negative financial indicators and the potential for significant government contracts suggest a positive outlook for stock price movement.
D-Wave Quantum Inc. (QBTS) Q3 2025 Earnings Call Transcript
Positive11-6
The earnings call indicates strong revenue growth, improved gross margins, and strategic initiatives in quantum AI and government engagements. Despite a significant net loss, the adjusted figures show improvement. The Q&A highlights potential in national security and defense, and successful trials in optimization problems. The focus on high-margin revenue streams and strategic partnerships, along with optimistic future plans, suggest a positive sentiment. However, the lack of clarity on certain deals and the increase in operating expenses temper the outlook. Overall, the stock is likely to see a positive movement.
D-Wave Quantum Inc. (QBTS) Q2 2025 Earnings Call Transcript
Positive8-7
The earnings call reveals strong financial performance, including record revenue and a robust cash position, which supports future profitability. Product development is promising, with the Advantage2 system demonstrating quantum supremacy. While M&A strategies and quantum AI milestones lack specificity, the company's strategic priorities and advancements in cryogenic technology are positive. The Q&A section highlights a focus on growth through acquisitions and R&D, with a high customer retention rate. Overall, the sentiment is positive, with potential for stock price appreciation over the next two weeks.
QBTS Slides
QBTS Report
Frequently Asked Questions
Where does this earnings call transcript come from?
All transcripts are sourced directly from the official live webcast or the company’s official investor relations website. We use the exact words spoken during the call with no paraphrasing of the core discussion.
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Why do some answers appear as “Unclear” or “Inaudible”?
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Who creates the AI Summary and Key Q&A highlights shown above the transcript?
They are generated by a specialized financial-language model trained exclusively on 15+ years of earnings transcripts. The model extracts financial figures, guidance, and tone with 97%+ accuracy and is regularly validated against human analysts. The full raw transcript always remains available for verification.
