D-wave Quantum vs Brera Holdings
D-wave Quantum is the larger business, with $24.6m of revenue in fiscal 2025 against $5.1m for Brera Holdings (4.8 times as much). Brera Holdings grew faster (292.7% against 178.5%). Brera Holdings kept more of each dollar of sales as profit: a net margin of 8390.3% against -1444.1%. Brera Holdings carries less debt relative to equity (0.0% against 4.2%).
| Latest fiscal year | D-wave QuantumQBTS, 2025 | Brera HoldingsSLMT, 2025 |
|---|---|---|
| Revenue | $24.6m | $5.1m |
| Revenue growth | 178.5% | 292.7% |
| Net income | −$355m | $425m |
| Operating margin | -408.2% | -8575.2% |
| Net margin | -1444.1% | 8390.3% |
| Return on equity | -77.6% | — |
| Free cash flow | −$75.8m | −$12.1m |
| Cash | $635m | $19.0m |
| Total debt | $35.8m | $0 |
| Debt to equity | 4.2% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 388 | — |
| Market value | $3.81bn | $34.2m |
| Price vs our value range | — | — |
| Moat score | 23 (Weak) | — |
| Insider trades, 12 months | 1 buys, 39 sales | 2 buys, 0 sales |