| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 3.08 | 7.7% | 0.7% |
| Total Income | 3.08 | 7.7% | 0.7% |
| Expenditure | 56.35 | 2.1% | 90.4% |
| PBT | -48.02 | 2.6% | |
| Net Profit | -48.03 | 161.6% | 71.3% |
| OPM | — | ||
| NPM | — | ||
| EPS | -0.13 | 160.0% | 76.4% |
D-Wave Quantum Reports Q2 2026 Results with Significant YoY Bookings Growth
06 Aug 2026 · 6 Aug, 4:38 pm
Summary
D-Wave Quantum announced its financial results for the second quarter ended June 30, 2026, reporting revenue of $3.1 million, flat year-over-year. However, the company saw significant growth in bookings, with Q2 bookings up 59% to $2.1 million and first half bookings surging 1,120% to $35.5 million. Remaining performance obligations also saw a substantial increase of 668% to $40.7 million. While GAAP gross margin decreased to 55.4% and operating expenses rose significantly due to strategic investments, the company was recognized as a Leader in the IDC MarketScape for Quantum Computing.
Key Highlights
- 1
D-Wave Quantum reported second quarter 2026 revenue of $3.1 million, which was essentially flat compared to the second quarter of 2025.
- 2
Bookings for the second quarter of 2026 increased by 59% to $2.1 million compared to $1.3 million in the second quarter of 2025.
- 3
First half 2026 bookings reached $35.5 million, representing a substantial 1,120% year-over-year increase from $2.9 million in the first half of 2025.
- 4
First half 2026 remaining performance obligations (RPOs) increased by 668% to $40.7 million as of June 30, 2026, up from $5.3 million in the prior year.
- 5
GAAP gross margin for the second quarter of 2026 was 55.4%, a decrease from 63.8% in the second quarter of 2025, primarily due to increased personnel costs.
- 6
GAAP operating expenses for the second quarter of 2026 increased by 93% to $55.0 million, driven by investments in product development and go-to-market initiatives.
- 7
The company was named a Leader in the IDC MarketScape: Worldwide Quantum Computing 2026 Vendor Assessment.
Management Comments
Alan Baratz
This quarter reinforced the strength and breadth of D-Wave’s leadership. We expanded commercial momentum through stronger bookings and engagements with major global organizations, while achieving important milestones across our dual-platform technology roadmap. The peer-reviewed validation of our dual-rail architecture and recognition by IDC as an industry Leader reflects growing confidence in both our ability to deliver customer value and our approach to building scalable quantum computer systems. D-Wave is translating technical leadership into commercial progress, and we believe that our differentiated technology, expanding customer base and disciplined execution position us to lead as the quantum computing market accelerates.
Informational and educational content only. Not investment advice.