D-Wave reported strong Q4 2024 financial results with record bookings of $18.3M, up 502% YoY, while FY2024 bookings increased 128% to $23.9M. The company's cash position exceeded $300M as of March 2025. Revenue for Q4 was $2.3M and $8.8M for FY2024, with a GAAP gross margin of 63.8% and 63.0% respectively.The company achieved a significant milestone by demonstrating quantum computational supremacy on a real-world materials simulation problem, published in Science journal. The quantum system solved the problem in minutes compared to what would take classical supercomputers nearly 1 million years. D-Wave also secured its first on-premises Advantage system sale to Julich Supercomputing Centre.Notable business developments included launching the Quantum Uplift program for dissatisfied customers of competitor systems, establishing a partnership with Carahsoft for public sector expansion, and implementing customer applications in drug discovery, insurance optimization, and autonomous agriculture. The company introduced the Leap Quantum LaunchPad program to accelerate adoption and announced the upcoming Qubits 2025 user conference.

D-Wave reported strong Q4 2024 financial results with record bookings of $18.3M, up 502% YoY, while FY2024 bookings increased 128% to $23.9M. The company's cash position exceeded $300M as of March 2025. Revenue for Q4 was $2.3M and $8.8M for FY2024, with a GAAP gross margin of 63.8% and 63.0% respectively.The company achieved a significant milestone by demonstrating quantum computational supremacy on a real-world materials simulation problem, published in Science journal. The quantum system solved the problem in minutes compared to what would take classical supercomputers nearly 1 million years. D-Wave also secured its first on-premises Advantage system sale to Julich Supercomputing Centre.Notable business developments included launching the Quantum Uplift program for dissatisfied customers of competitor systems, establishing a partnership with Carahsoft for public sector expansion, and implementing customer applications in drug discovery, insurance optimization, and autonomous agriculture. The company introduced the Leap Quantum LaunchPad program to accelerate adoption and announced the upcoming Qubits 2025 user conference.