Quarterly ResultMay 12, 2026, 04:19 PM
D-Wave Quantum Acquires Quantum Circuits for $538.5M; Q1 Revenue Down
AI Summary
D-Wave Quantum Inc. completed the acquisition of Quantum Circuits for $538.5 million in cash and equity on January 20, 2026, aiming to enhance its gate-model quantum computing capabilities. For the first quarter of 2026, the company reported a significant decrease in revenue to $2.86 million and an increased net loss of $18.36 million. Cash and cash equivalents also saw a substantial decline to $338.2 million.
Key Highlights
- Acquired Quantum Circuits for $538.5 million in cash and equity on January 20, 2026.
- Q1 2026 revenue decreased to $2.86 million from $15.00 million in Q1 2025.
- Q1 2026 net loss increased to $18.36 million from $5.42 million in Q1 2025.
- Net loss per share was $(0.05) in Q1 2026, compared to $(0.02) in Q1 2025.
- Cash and cash equivalents declined to $338.20 million as of March 31, 2026, from $635.35 million.
- Research and development expenses rose to $25.79 million from $10.29 million year-over-year.
- Net cash used in operating activities increased to $44.96 million from $19.28 million.
- Total assets increased to $1.20 billion as of March 31, 2026, from $915.81 million.