D-Wave Quantum | 8-K: D-Wave Reports Third Quarter 2025 Results

D-Wave Quantum reported strong Q3 2025 financial results with revenue reaching $3.7 million, up 100% YoY. GAAP gross profit increased 156% YoY to $2.7 million, with gross margin expanding to 71.4%. The company achieved its highest-ever cash balance of $836.2 million, representing a dramatic increase from $29.3 million in Q3 2024.The company secured several new customer engagements, including partnerships with major organizations like a leading U.S. airline, SkyWater semiconductor foundry, and Japan Tobacco's pharmaceutical division. Notable developments include a €10 million booking for 50% capacity of an Advantage2™ quantum computer in Italy and successful completion of fluxonium qubit chips fabrication.Despite strong operational performance, net loss widened to $140 million primarily due to $121.9 million in non-cash charges related to warrant liability remeasurement. The company maintained momentum in customer acquisition with over 100 revenue-generating customers, including nearly two dozen Forbes Global 2000 companies. Post-quarter, D-Wave raised an additional $21.3 million through warrant exercises.

D-Wave Quantum reported strong Q3 2025 financial results with revenue reaching $3.7 million, up 100% YoY. GAAP gross profit increased 156% YoY to $2.7 million, with gross margin expanding to 71.4%. The company achieved its highest-ever cash balance of $836.2 million, representing a dramatic increase from $29.3 million in Q3 2024.The company secured several new customer engagements, including partnerships with major organizations like a leading U.S. airline, SkyWater semiconductor foundry, and Japan Tobacco's pharmaceutical division. Notable developments include a €10 million booking for 50% capacity of an Advantage2™ quantum computer in Italy and successful completion of fluxonium qubit chips fabrication.Despite strong operational performance, net loss widened to $140 million primarily due to $121.9 million in non-cash charges related to warrant liability remeasurement. The company maintained momentum in customer acquisition with over 100 revenue-generating customers, including nearly two dozen Forbes Global 2000 companies. Post-quarter, D-Wave raised an additional $21.3 million through warrant exercises.