D-Wave reported Q2 2024 revenue of $2.2M, up 28% YoY, with bookings increasing 6% to $2.7M. GAAP gross profit nearly doubled to $1.4M, while gross margin improved to 63.6%. The company maintained strong liquidity with $40.9M in cash at quarter-end.The company expanded its commercial customer base to 77 customers, up from 70, including 26 Forbes Global 2000 companies. Revenue from commercial customers grew 35% YoY, while Forbes Global 2000 customer revenue increased by 50%. D-Wave also announced significant product developments, including a new Quantum AI roadmap and expansion of its partnership with Zapata AI.Looking ahead, D-Wave expects its fiscal 2024 Adjusted EBITDA Loss to be lower than the $54.3M loss recorded in fiscal 2023. The company strengthened its financial position with a $100M ATM program and maintains $61.8M in available capacity under its Equity Line of Credit through October 2025.

D-Wave reported Q2 2024 revenue of $2.2M, up 28% YoY, with bookings increasing 6% to $2.7M. GAAP gross profit nearly doubled to $1.4M, while gross margin improved to 63.6%. The company maintained strong liquidity with $40.9M in cash at quarter-end.The company expanded its commercial customer base to 77 customers, up from 70, including 26 Forbes Global 2000 companies. Revenue from commercial customers grew 35% YoY, while Forbes Global 2000 customer revenue increased by 50%. D-Wave also announced significant product developments, including a new Quantum AI roadmap and expansion of its partnership with Zapata AI.Looking ahead, D-Wave expects its fiscal 2024 Adjusted EBITDA Loss to be lower than the $54.3M loss recorded in fiscal 2023. The company strengthened its financial position with a $100M ATM program and maintains $61.8M in available capacity under its Equity Line of Credit through October 2025.