QBTS D-Wave Quantum Inc.

company

SEC Filings & Insider Trading Activity 2026

Business Overview

• • Core business: Development and delivery of quantum computing systems, software, and services with dual-platform technology (annealing and gate-model)
• • New product emphasis: Sixth-generation annealing quantum system Advantage2 and Leap quantum cloud service with 99.9% uptime availability
• • Strategic shift: Full redemption and delisting of all Public Warrants and conversion of all Private Warrants to Public Warrants in 2025, eliminating warrant liabilities
• • Quantitative highlight: Revenue $24.6M in 2025, up 178% from $8.8M in 2024; stockholders’ equity surged to $852.2M from $62.6M
• • Noteworthy fact: Cash and cash equivalents grew to $635.3M in 2025 from $178.0M in 2024, driven by significant capital raises including $536.7M net ATM offerings and $202.9M from warrant exercises

Risk Factors

• • Regulatory/legal risk: Compliance with government funding regulations impacting use of government assistance for R&D, no specific law cited but ongoing government funding reliance noted
• • Geopolitical/macro risk: Currency exchange exposure due to revenues in USD and expenses in Canadian dollars, creating risk from fluctuations in CAD/USD rates
• • Operational/supply chain risk: Dependence on third-party suppliers for electronics and semiconductor components critical to manufacturing quantum computers
• • Competitive/market risk: Potential competitive threat from classical computing advances outpacing quantum computing, impacting timing of quantum advantage
• • Financial/structural risk: Accumulated deficit of $982M as of 12/31/2025 with net losses of $355.1M in fiscal 2025, reflecting ongoing significant operating losses

Management Discussion & Analysis

• • Revenue $24.6M in 2025, up 179% YoY from $8.8M; driven by $16.2M system sales, $0.8M professional services, offset by $1.2M QCaaS decline
• • Operating loss widened to $100.4M in 2025 from $77.2M in 2024; net loss $355.1M vs $143.9M; operating margin approx. -408% vs -876% (implied)
• • Best segment: System sales $16.2M growth; worst impacted: QCaaS revenue down by $1.2M
• • Cash flows: Operating cash used $72.0M vs $42.6M; Investing cash outflow $251.1M vs $3.1M; Financing cash inflow $779.1M vs $182.5M from ATM equity offerings ($647M+), warrant exercises ($203M), no debt repayments
• • Forward outlook: Continued R&D and sales & marketing expense growth; expect ongoing losses; risk from macroeconomic factors and fair value changes of warrants; corporate HQ relocation planned 2026

What are the latest QBTS SEC filings in 2026?

D-Wave Quantum Inc. (QBTS) has filed a 10-K annual report on February 26, 2026, a 10-Q quarterly report on May 12, 2026, an 8-K current report on August 5, 2026 with the SEC. SignalX tracks every new SEC EDGAR filing daily, including 10-K, 10-Q, 8-K, and Form 4 insider transactions, with AI-powered summaries of key sections.

When did QBTS file its most recent 10-K annual report?

D-Wave Quantum Inc. (QBTS) filed its most recent 10-K annual report on February 26, 2026. The 10-K includes audited financial statements, business overview, risk factors, and management discussion, all available on SignalX with AI-generated summaries and XBRL financial data.

How do I view QBTS 10-Q quarterly reports?

D-Wave Quantum Inc. (QBTS)'s most recent 10-Q quarterly report was filed on May 12, 2026. SignalX displays every QBTS 10-Q with AI-generated summaries of the MD&A (Management Discussion & Analysis) and Risk Factors sections, plus links to the original SEC EDGAR document.

What 8-K current reports has QBTS filed recently?

D-Wave Quantum Inc. (QBTS)'s most recent 8-K was filed on August 5, 2026. 8-K filings disclose material corporate events such as earnings releases, executive changes, mergers, and other significant developments. SignalX surfaces each 8-K with item-level summaries so you can quickly see what happened.

Where can I find QBTS insider trading activity (Form 4)?

SignalX aggregates every QBTS Form 4 insider transaction from SEC EDGAR. Form 4 reports show when officers, directors, and 10% shareholders buy or sell company stock, with transaction code, share count, and price per share.

How often does QBTS file with the SEC?

D-Wave Quantum Inc. (QBTS) files a 10-K annual report once per year (typically within 60 days of fiscal year-end) and 10-Q quarterly reports three times per year. 8-K current reports are filed as needed when material events occur, and Form 4 insider transaction reports are due within two business days of a trade. SignalX monitors SEC EDGAR daily to surface every new QBTS filing with AI-powered analysis.

What is the difference between 10-K, 10-Q, and 8-K SEC filings?

A 10-K is a comprehensive annual report with audited financials, business overview, and risk factors. A 10-Q is a shorter quarterly report with unaudited financials and management discussion. An 8-K is a current report filed when a material event occurs, such as earnings releases, executive changes, acquisitions, or other significant developments. SignalX provides AI-generated summaries for all three filing types for D-Wave Quantum Inc. (QBTS).

What is QBTS's SEC CIK number?

D-Wave Quantum Inc. (QBTS)'s SEC CIK (Central Index Key) number is 1907982. The CIK is a unique identifier assigned by the SEC to every filing entity. You can use CIK 1907982 to look up all QBTS filings on SEC EDGAR, or browse them here on SignalX with AI-powered analysis.

Where can I find QBTS return on equity (ROE) and financial data?

SignalX extracts XBRL financial data from D-Wave Quantum Inc. (QBTS) 10-K annual filings, including revenue, net income, gross profit, operating income, EPS, total assets, stockholders' equity, and operating cash flow. Return on equity (ROE) can be derived from net income divided by stockholders' equity. Multi-year financial trends are displayed in the Financial Summary table above.