Short answer
D-Wave Quantum Inc. (QBTS) filed its Q1 2026 10-Q quarterly report on May 12, 2026 for the quarter ended Mar 31, 2026. Quarterly revenue was $3M (down 80.9% year over year) with net income of −$18M.
Q1 2026 key financials · XBRL
- Revenue
- $3M
- −80.9% YoY
- Net income
- −$18M
- −238.6% YoY
- Operating margin
- -1914.9%
- Gross margin
- 63.6%
- EPS (diluted)
- −$0.05
- −150.0% YoY
Source: XBRL data from the D-Wave Quantum Inc. (QBTS) Q1 2026 10-Q on SEC EDGAR. USD.
D-Wave Quantum Inc. Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $2.858M, down 81% YoY from $15.001M, driven by $12.6M lower system sales
- Gross margin 63.6% vs 92.5% YoY, with gross profit $1.818M vs $13.877M
- Best performer QCaaS, revenue up $0.2M; worst system sales, down $12.6M
- Operating cash outflow $45.0M vs $19.3M YoY; acquisition investing outflow $252.1M, including $250.8M cash consideration
- Continued significant losses expected; R&D and go-to-market investment driving foreseeable operating losses
Risk Factors
- No material changes from 2025 Form 10-K risk factors
- Acquisition closed January 20, 2026, triggering issuance of 10,430,444 Common Shares
- CEO Alan Baratz adopted a Rule 10b5-1 plan covering up to 946,022 Common Shares
- Quantum Circuits integration added lease obligations through March 25, 2026 amendment
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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