11.47
+7.40%
Close of 9 Nov 2026, in USD
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About D-Wave Quantum
From its filings with the US Securities and Exchange Commission
D-Wave Quantum is based in Palo Alto, California and is incorporated in Delaware. Its shares trade on Nasdaq under the ticker QBTS. The SEC classifies its business as computer processing & data preparation. In the fiscal year to 31 December 2025, it reported revenue of $24.6m and a net loss of $355.1m. At that date it held total assets of $915.8m and shareholders' equity of $852.2m. By region, Germany accounted for 68.2%, followed by United States at 10.8% and Other at 8.2%.
At D-Wave, our mission is to help customers realize the value of quantum computing to address complex computational problems that cannot be solved with classical computing alone. As a pioneer in the quantum industry for more than 25 years, D-Wave is the world’s first company to deliver commercial-grade annealing quantum computing systems and solutions. We are also the only dual-platform quantum computing company, providing both annealing and gate-model systems, software, and services to address customers’ full range of computational problems. We believe that we are leading the industry in ushering in the era of enterprise quantum computing. We are driving the transition from academic endeavors exploring quantum’s potential to enterprise-scale adoption and deployment, solving some of the world’s toughest problems. Based on our strategic decision to initially bring to market a type of quantum technology that is easier to scale—annealing quantum computing, we hold a first-mover advantage that no other company in the world can claim.
Our market leadership position is evident—we were the first to launch commercial quantum systems, the first to achieve a demonstration of quantum supremacy on a useful, real-world problem, the first to have quantum applications running in production for commercial customers, and the first with commercial customer use of its quantum computing technology with AI model training.
Quoted from its 10-K, filed 26 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Information Technology
- Industry
- Software
- Listed since
- 11 Oct 2020
- Employees
- 388
- Head office
- 2650 EAST BAYSHORE ROAD, PALO ALTO, CA, 94303
- Incorporated in
- DE
- Classification
- Services-Computer Processing & Data Preparation
- Filer status
- Non-accelerated filer
Leadership
Pay as last reported
- Mr. Steven WestIndependent Chairman of the Board$182,701
- Dr. Alan BaratzPresident, Chief Executive Officer, Director, since 2020$1.7m
- Mr. John MarkovichChief Financial Officer$1.0m
- Ms. Diane NguyenExecutive Vice President, Chief Legal Officer and General Counsel$1.0m
- Mr. Stan BlackChief Information Security Officer
- Mr. Roger BiscayIndependent Director$169,201
- Mr. John DilulloIndependent Director$90,516
- Mr. Rohit GhaiIndependent Director$90,516
- Ms. Sharon HoltIndependent Director$178,961
- Ms. Kirstjen NielsenIndependent Director$231,096
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 34
- Environment
- 3
- Social
- 41
- Governance
- 58
- Carbon reduction policy
- No
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- D-Wave Quantum Inc develops quantum computing systems and software.
- The company provides the Leap and Advantage products to enterprises.
- Major clients include Volkswagen, Toyota, and Lockheed Martin.
Weaknesses
- The company has 388 employees according to the primary data.
- The source description lists only 215 full-time employees.
- There is a discrepancy in the reported employee count.
Opportunities
- The firm offers cloud services for quantum computing applications.
- Software supports logistics, drug discovery, and portfolio optimization.
- Professional services aid the end-to-end quantum computing journey.
Threats
- The source description is treated as untrusted facts.
- Conflicting data exists regarding the number of employees.
- Reliance on unverified source information poses a risk.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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