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StockVS

NASDAQ · Computer Hardware · USD

D-Wave Quantum Inc. (QBTS) Stock Analysis

D-Wave Quantum Inc. (QBTS) is a Computer Hardware stock listed on NASDAQ and quoted in US Dollar.

Last Updated: October 21, 2026

QBTS

$12.10

+$0.32 (+2.72%)

Oct 21, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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QBTS Key Statistics

As of Oct 21, 2026
Trading
Open
$12.04
Previous Close
$11.78
Day's Range
11.81–12.23
52-Week Range
11.35–37.62
Volume
11.24M
BetaHow much the share price moves relative to the wider market. 1.0 moves in line with it; above 1.0 swings more, below 1.0 less.
2.17
Valuation
Market Cap
$4.59B
P/E Ratio
unprofitable
P/S ratioMarket value divided by annual revenue. Useful for companies that are not yet profitable, where a P/E cannot be calculated.
369.70
EPS (ttm)Profit attributable to each share over the last twelve months.
−0.69
Financials (FY)
Revenue (FY)
$24.59M+178.54%
Net Income (FY)
−$355.06M
Shares OutstandingThe total number of shares held by all investors. Market value is this figure multiplied by the share price.
376.45M
1-Year Return
−62.41%
Dividend and dates
Earnings Date
November 5, 2026estimated
Avg Volume
16.67M

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

Key facts

As of October 21, 2026, QBTS closed at $12.10, −62.41% over 1 year.

D-Wave Quantum Inc. (QBTS) has a market capitalization of $4.59B.

In fiscal 2025, QBTS reported revenue of $24.59M.

QBTS Stock Return by Calendar Year

D-Wave Quantum Inc. (QBTS) return since Dec 2020: what $10,000 became

1 year
$10,000 $3,759
−62.41%
5 years
$10,000 $12,360
+23.60%
Since Dec 2020
$10,000 $11,921
+19.21%

If you had invested $10,000 in D-Wave Quantum Inc. (QBTS) at the close on December 11, 2020, the earliest close on record here, it would have been worth $11,921 at the close on October 21, 2026: +19.21% in total, +3.04% a year, over a partial period shorter than 10 years. A historical calculation from closing prices adjusted for splits and dividends, before fees and taxes.

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

YearReturn
2026 (partial year)−53.73%
2025+211.31%
2024+854.55%
2023−38.89%
2022−85.34%
2021−5.67%
2020 (partial year)+2.56%

As of October 21, 2026.

QBTS Revenue and Earnings by Fiscal Year

FY ends December
Fiscal yearRevenueNet incomeNet margin
2025$24.59M−$355.06M−1,444.1%
2024$8.83M−$143.88M−1,630.0%
2023$8.76M−$82.72M−944.5%
2022$7.17M−$53.70M−748.7%
Fiscal yearRevenueGross profitOperating incomeNet incomeNet margin
2025$24.59M$20.31M−$100.37M−$355.06M−1,444.1%
2024$8.83M$5.56M−$77.22M−$143.88M−1,630.0%
2023$8.76M$4.62M−$80.55M−$82.72M−944.5%
2022$7.17M$4.25M−$59.46M−$53.70M−748.7%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

QBTS Valuation vs Computer Hardware Median

Median of 46 stocks
MetricQBTSComputer Hardware medianvs median
P/S ratio369.703.8695.7x the median

Medians across 46 Computer Hardware stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of October 21, 2026.

Recent News

All 20 articles ↓

News provided by third-party sources. Not financial advice.

Analysis

Data-derived

Company Overview

D-Wave Quantum Inc. (QBTS) is capitalised at $4.59B on the latest close. The company sits in the Technology sector, in the Computer Hardware industry. The company reports 382 employees.

The most recent close on file for QBTS is $12.10, dated October 21, 2026. That is +$0.32 (+2.72%) against the previous close. The 52-week range on file runs from $11.35 to $37.62. The latest close sits 6.61% above that 52-week low.

Financial Health

In fiscal 2025, D-Wave Quantum Inc. reported revenue of $24.59M. Against the prior fiscal year total of $8.83M, that is a change of +178.54%. The same year closed with a net loss of $355.06M. Trailing earnings per share are −0.69.

Across the 4 fiscal years on file, revenue moves from $7.17M in 2022 to $24.59M in 2025. Of those 4 years, 0 report positive net income.

Valuation Assessment

No trailing P/E applies: the last reported earnings figure is negative. The price-to-sales ratio is 369.7. On price-to-sales that is 95.7 times the Computer Hardware median of 3.86. The medians here are taken across 46 Computer Hardware companies that report the metric.

Beta against the wider market is reported at 2.17. Annualized volatility over the trailing 5 years is 134.8%. Over the trailing twelve months the total return is −62.41%. Across 5 years the annualized return works out at +4.33%.

Growth & Income

The record shows no dividend for QBTS.

2026 is still running; the total return is −53.73% year to date. Across the complete calendar years on file, 2024 returned +854.55% and 2022 returned −85.34%. Of the 5 complete calendar years on file, 2 finished higher.

Peer Comparison

D-Wave Quantum Inc. (QBTS) operates in the Computer Hardware industry. Here is how it compares to its closest peers by market capitalization:

Company Ticker Market Cap P/E Ratio
D-Wave Quantum Inc. QBTS $4.59B —
Dell Technologies Inc. DELL $308.93B 28.3
Arista Networks, Inc. ANET $232.48B 58.2
Sandisk Corporation SNDK $199.19B 18.7

The Computer Hardware industry average P/E ratio is 19.5x. D-Wave Quantum Inc. has no P/E ratio because it is not currently profitable.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 21, 2026.

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About D-Wave Quantum Inc.

D-Wave Quantum Inc. engages in the development and delivery of quantum computing systems, software, and services worldwide. It provides Advantage and Advantage 2 quantum computers; Ocean, a suite of open-source tools; and Leap quantum cloud service, a cloud-based service that provides real-time access to quantum computers and quantum hybrid solvers; and secure access and data protection services, as well as Ocean software development kit (SDK), a Python-based SDK for developers to learn and build applications on company's server. The company also provides Leap hybrid solver service that offers a combination of quantum and classical computation resources and advanced algorithms to solve problems of enterprise scale; and D-Wave Launch, a phased approach to identify and build in-production quantum hybrid applications, including training sessions and quantum computing access. In addition, the company offers D-Wave Advantage annealing quantum computing systems; and Ocean developer tools. Its quantum solutions are used in allocation, resource scheduling, factory scheduling, vehicle routing, logistics optimization, drug discovery, industrial construction design, portfolio optimization and maintenance, repair, and overhaul optimization. The company has a collaboration with the University of Arkansas to establish leadership, education, and independent research focused on the application of quantum computing to supply chain management across retail, transportation, and national defense. D-Wave Quantum Inc. was founded in 1999 and is based in Palo Alto, California.

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