D-Wave Quantum Inc.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $24.6M | $8.8M | $8.8M | $7.2M | $6.3M |
| Gross profit | $20.3M | $5.6M | $4.6M | $4.2M | $4.5M |
| Operating income | -$100.4M | -$77.2M | -$80.5M | -$59.5M | -$38.9M |
| Operating expenses | $120.7M | $82.8M | $85.2M | $63.7M | $43.5M |
| Cost of revenue | $4.3M | $3.3M | $4.1M | $2.9M | $1.8M |
| Cash from operations | -$72.0M | -$42.6M | -$60.6M | -$45.2M | -$34.8M |
| Capital expenditure | $3.9M | $2.1M | $583,000 | $423,000 | $1.8M |
| Free cash flow | -$75.8M | -$44.7M | -$61.2M | -$45.6M | -$36.6M |
| Total assets | $915.8M | $199.9M | $59.4M | $26.9M | $29.5M |
| Total liabilities | $63.6M | $137.2M | $83.8M | $56.4M | $47.8M |
| Total debt | — | — | — | $28.9M | $29.8M |
Shares outstanding 366.7M · Free float 90.7%
Annual filing data through FY ended December 31, 2025; float as of June 27, 2026.