NYSE$QBTS
D-Wave Quantum Inc · Q4 2025 earnings
Q4 2025 earnings · · Before market open · Investor relations
Briefing
D-Wave Quantum reported Q4 2025, revenue of $24.6M.
For Q4 2025, D-Wave Quantum reported revenue of $24.6M. Management discusses segment performance, capital allocation, and macro risks in the quarterly filing.
- Revenue $24.6M.
- D-Wave Quantum MD&A covers liquidity, credit, and operating priorities.
- D-Wave Quantum MD&A covers liquidity, credit, and operating priorities.
Headline financials
Revenue & EPS history
D-Wave · Revenue · Quarterly
$24.6M
Forward guidance
The quarterly filing discusses operating priorities, capital returns, and sector risks; numeric multi-quarter bridges vary by issuer.
Tailwinds
- MD&A highlights liquidity, capital, and core business trends.
- Segment or product commentary supports the earnings narrative.
Headwinds
- Macro, rates, or input costs may pressure near-term margins.
- One-time items can affect year-over-year comparability.
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 Q4 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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