D-Wave Quantum Inc. (QBTS) stock
Close on Nov 11, 2026Market cap $3.93BP/E –Yield –
D-Wave Quantum Inc. saw revenue fall 44.2% to $12.43M over the twelve months to Jun 30, 2026. Free cash flow was -$119.08M. At the latest close the market valued the company at $3.93B.
Key statistics
Valuation at the latest close; fundamentals over the trailing twelve months, balances at Jun 30, 2026
Valuation
- Market cap
- $3.93B
- P/E ratio
- –
- Price to sales
- 316.51
- Price to book
- 3.63
- Dividend yield
- –
- Free cash flow yield
- -3.03%
Fundamentals
- Revenue
- $12.43M
- Net income
- -$248.70M
- EPS, diluted
- -$0.71
- Free cash flow
- -$119.08M
- Book value per share
- $2.92
- Diluted shares
- 371M
Trading
- Next earnings
- Feb 25, 2027 (estimated, before the open)
- Previous close
- $10.48
- Open
- $10.94
- Day's range
- $10.48 – $11.02
- Volume
- 14,770,160
- Average volume (20 days)
- 15,688,382
- Index membership
- Russell 2000 (since Sep 2024), Russell 3000 (since Aug 2024)
- Beta (5 years)
- 2.02
- 52-week range
- $8.48 – $32.39
- RSI (14 days)
- 40.5
- Volatility (1 year)
- 104.3%
- Relative volume
- 0.90×
- WACC
- 14.9%
On 2 of our idea lists: Institutions accumulating, Most shorted (a warning list)
Index membership is inferred from the holdings of funds that track each index (IWM, IWV), as reported to the SEC for Jun 30, 2026. Join dates come from quarterly fund reports since 2019, so they are accurate to the quarter.
Market cap history
Month-end market cap since 2021, using shares outstanding reported at the time
Total return vs. the S&P 500
Price change plus reinvested dividends, to the close on Nov 11, 2026. The S&P 500 is measured by the SPY fund.
| Period | QBTS | S&P 500 | Difference | QBTS per year | S&P 500 per year |
|---|---|---|---|---|---|
| 1 month | -26.9% | -2.4% | −24.5 pts | ||
| 3 months | -47.4% | -1.2% | −46.2 pts | ||
| Year to date | -59.3% | +12.3% | −71.6 pts | ||
| 1 year | -63.3% | +12.4% | −75.7 pts | ||
| 3 years | +1379.0% | +78.8% | +1300.2 pts | +145.5% | +21.4% |
| 5 years | +8.3% | +75.2% | −66.8 pts | +1.6% | +11.9% |
Seven years at a glance
Fiscal years 2019 to 2025 and trailing twelve months, USD
Revenue
Gross profit
Operating income
Net income
EPS, diluted
Free cash flow
Press releases
Releases D-Wave Quantum filed with the SEC as exhibits to Form 8-K or 6-K
- Results
- Results
- Update
- Update
- Update
- Update
About D-Wave Quantum
Services-Computer Processing & Data Preparation
D-Wave Quantum Inc. develops and delivers quantum computing systems, software, and services to help organizations address complex computational challenges. As a dual-platform provider, the company offers commercial annealing quantum computing systems, including the Advantage2, and develops superconducting gate-model quantum computers. Its core offerings include the Leap quantum cloud service, hybrid quantum-classical solvers like Stride, and the Ocean software development kit, alongside professional onboarding and implementation services. D-Wave generates revenue through cloud access via quantum computing as a service, professional services, and sales of on-premises hardware. The company serves enterprise, academic, and government customers across diverse industries such as manufacturing, retail, logistics, financial services, life sciences, and defense.
Company profile, executives and historyD-Wave Quantum stock: common questions
What is D-Wave Quantum's stock price?
QBTS closed at $10.65 on Nov 11, 2026, up 1.62% on the day. Over the past 52 weeks it traded between $8.48 and $32.39.
What is D-Wave Quantum's market cap?
D-Wave Quantum was worth $3.93B at the close on Nov 11, 2026: the share price times the diluted shares outstanding.
What is QBTS's P/E ratio?
D-Wave Quantum lost money over the twelve months to Jun 30, 2026 (diluted EPS -$0.71), so it has no meaningful P/E ratio.
How much revenue does D-Wave Quantum make?
D-Wave Quantum reported revenue of $12.43M for the twelve months to Jun 30, 2026, down 44.2% from a year earlier.
Does D-Wave Quantum pay a dividend?
No. D-Wave Quantum has not paid a cash dividend over the last twelve months.
When does D-Wave Quantum report earnings next?
D-Wave Quantum is expected to report Q4 FY2026 results on Feb 25, 2027, before the open. The date is estimated from its past reporting pattern until the company confirms it.
How has QBTS stock performed over the past year?
Including dividends, QBTS returned -63.3% over the past year, against +12.4% for the S&P 500.
How many QBTS shares are sold short?
82M shares were sold short at the latest FINRA report, 22.72% of the float, or 6.4 days of average trading volume.
Who are D-Wave Quantum's competitors?
Companies most similar to D-Wave Quantum by business, industry and size include RGTI, INFQ, WSKEF, QUBT, NXTT.
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