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10-K

Annual Report

D-Wave Quantum Inc. QBTS

0001907982-26-000026

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Filed
Feb 26, 2026 12:00 AM ET
Period of report

On SEC.gov

Financials in this filing

Metric Period Value
Shares Outstanding FY 2025 · Feb 25, 2026 366.74M sh
Shares Diluted FY 2025 · Dec 31, 2025 321.2M sh
Shares Diluted FY 2025 · Dec 31, 2024 192.13M sh
Capex FY 2025 · Dec 31, 2025 $3.86M
Capex FY 2025 · Dec 31, 2024 $2.11M
Operating Cash Flow FY 2025 · Dec 31, 2025 −$71.98M
Operating Cash Flow FY 2025 · Dec 31, 2024 −$42.64M
Long Term Debt FY 2025 · Dec 31, 2025 $35.83M
Long Term Debt FY 2025 · Dec 31, 2024 $30.13M
Cash And Equivalents FY 2025 · Dec 31, 2025 $635.35M
Cash And Equivalents FY 2025 · Dec 31, 2024 $177.98M
Stockholders Equity FY 2025 · Dec 31, 2025 $852.23M
Stockholders Equity FY 2025 · Dec 31, 2024 $62.65M
Stockholders Equity FY 2025 · Dec 31, 2023 −$24.48M
Current Liabilities FY 2025 · Dec 31, 2025 $21.15M
Current Liabilities FY 2025 · Dec 31, 2024 $30.15M
Total Liabilities FY 2025 · Dec 31, 2025 $63.58M
Total Liabilities FY 2025 · Dec 31, 2024 $137.21M
Current Assets FY 2025 · Dec 31, 2025 $896.23M
Current Assets FY 2025 · Dec 31, 2024 $185.04M
Total Assets FY 2025 · Dec 31, 2025 $915.81M
Total Assets FY 2025 · Dec 31, 2024 $199.85M
Eps Diluted FY 2025 · Dec 31, 2025 −$1.11
Eps Diluted FY 2025 · Dec 31, 2024 −$0.75
Eps Basic FY 2025 · Dec 31, 2025 −$1.11
Eps Basic FY 2025 · Dec 31, 2024 −$0.75
Sga Expense FY 2025 · Dec 31, 2025 $41.19M
Sga Expense FY 2025 · Dec 31, 2024 $32.42M
Rd Expense FY 2025 · Dec 31, 2025 $50.73M
Rd Expense FY 2025 · Dec 31, 2024 $35.3M
Net Income FY 2025 · Dec 31, 2025 −$355.06M
Net Income FY 2025 · Dec 31, 2024 −$143.88M
Operating Income FY 2025 · Dec 31, 2025 −$100.37M
Operating Income FY 2025 · Dec 31, 2024 −$77.22M
Gross Profit FY 2025 · Dec 31, 2025 $20.31M
Gross Profit FY 2025 · Dec 31, 2024 $5.56M
Cost Of Revenue FY 2025 · Dec 31, 2025 $4.28M
Cost Of Revenue FY 2025 · Dec 31, 2024 $3.26M
Revenue FY 2025 · Dec 31, 2025 $24.59M
Revenue FY 2025 · Dec 31, 2024 $8.83M