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D-wave Quantum Inc. revenue

D-wave Quantum Inc.'s revenue was $24.6m in fiscal 2025, up 178.5% on the year before. Since fiscal 2020 ($5.2m) it has grown at a compound 36.7% a year. Over the last twelve months it was $12.4m.

Revenue history

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

D-wave Quantum Inc.: revenue history, annual
Fiscal year2020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Revenue567992512
Growth on the year before—+21.7%+14.2%+22.1%+0.8%+178.5%—
Gross profit45456208
Gross margin82.3%72.1%59.3%52.8%63.0%82.6%64.2%

Revenue as reported in the company's 10-K and 10-Q filings (for banks, net interest income plus non-interest income). Growth is left blank when the earlier figure was zero or negative.

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
System Sales $16.2M —
Q Caa S $5.5M ▼ 18.2%
System Upgrade $3.5M —
Professional Services $2.7M ▲ 40.4%
Other $168,000 ▲ 16.7%

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue Share YoY
Germany $16.8M 68.2% ▲ 785.2%
United States $2.7M 10.8% ▲ 23.4%
Other Geographical Areas $2M 8.2% ▲ 13.8%
Japan $1.3M 5.4% ▲ 16.2%
Switzerland $960,000 3.9% ▲ 23.4%
Canada $878,000 3.6% ▼ 20.3%

From D-wave Quantum Inc.'s 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Revenue against peers

Systems Software: the closest covered companies by revenue. Last twelve months.

CompanyRevenueGrowth3-year growth a year
D-wave Quantum Inc. $12.4m -44.2% 19.0%
Rigetti Computing, Inc. $13.4m 68.5% -2.5%
Obook Holdings Inc. $7.9m 3.9% —
Hub Cyber Security Ltd. $31.7m 7.1% —
Chowchow Cloud International Holdings Ltd $32.2m 38.3% —
Alarum Technologies Ltd. $40.8m 28.1% —

Compare with peers

Head to head: QBTS vs RGTIOWLS vs QBTSHUBC vs QBTS

More: Systems Software stocks compared, Technology sector, rankings of US companies

Figures from D-wave Quantum Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to D-wave Quantum Inc.