NYSE$QBTS
D-Wave Quantum Inc · Q3 2025 earnings
Q3 2025 earnings · · Before market open · Investor relations
Briefing
D-Wave Quantum reported Q3 2025, revenue of $3.7M, net loss of $140M, diluted EPS of $-0.41.
For Q3 2025, D-Wave Quantum reported revenue of $3.7M, a net loss of $140M, diluted EPS was $-0.41. Management discusses segment performance, capital allocation, and outlook in the earnings filing.
- Revenue $3.7M.
- Net loss $140M.
- Diluted EPS $-0.41.
Headline financials
Revenue & EPS history
D-Wave · Revenue · Quarterly
$3.74M
Forward guidance
The filing discusses D-Wave Quantum's outlook for upcoming periods, including capital allocation, operating priorities, and market risks disclosed in the quarterly report.
Tailwinds
- D-Wave Quantum cites operational execution and demand trends supporting the outlook.
- Balance sheet and liquidity actions aim to fund growth and returns.
Headwinds
- GAAP profitability remained under pressure in Q3 2025.
- Macro, pricing, and input-cost volatility could pressure margins.
- Segment mix and one-time items may affect quarter-to-quarter comparability.
- Clinical trial timing and R&D spend will drive cash needs before product revenue scales.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2025
+7.2%
Avg return
Earnings day
+9.5%
Avg return
5 days after
+27.5%
Avg return
30 days after
48%
10 / 21 earnings
Positive
+67.2%
Q1 2022
Best reaction
-21.6%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -9.8% | -17.7% | -3.0% | |
| Q4 2025 | -0.6% | -7.2% | -29.3% | |
| Q3 2025 | -10.2% | -6.5% | -13.0% | |
| Q1 2025 | +51.6% | +55.7% | +170.2% | |
| Q4 2024 | +18.7% | +85.6% | +24.6% | |
| Q3 2024 | -7.9% | -16.3% | +180.9% | |
| Q2 2024 | +4.0% | +17.0% | +8.6% | |
| Q1 2024 | +7.7% | +0.0% | -10.8% | |
| Q4 2023 | -5.2% | -12.4% | -31.4% | |
| Q3 2023 | -16.0% | -4.4% | +22.4% | |
| Q2 2023 | -14.2% | -11.2% | -46.1% | |
| Q1 2023 | +67.2% | +80.3% | +208.2% | |
| Q1 2022 | +67.2% | +80.3% | +208.2% | |
| Q4 2020 | +21.0% | +12.0% | +12.0% | |
| Q4 2022 | -21.6% | -5.2% | -36.7% | |
| Q3 2021 | +9.1% | +4.0% | -8.3% | |
| Q3 2022 | +9.1% | +4.0% | -8.3% | |
| Q4 2021 | -8.6% | -21.7% | -24.6% | |
| Q2 2021 | -8.6% | -21.7% | -24.6% | |
| Q2 2022 | -3.1% | -16.4% | -22.2% | |
| Q1 2021 | +1.7% | +1.8% | +1.4% |
Discussion
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