D-Wave Quantum (QBTS) Cash from Operations (2021 - 2026)
D-Wave Quantum's (QBTS) quarterly Cash from Operations came in at -$28.5 million in Q2 2026, down 86.46% year-over-year from -$210.6 million in Q2 2025, and up 36.6% quarter-over-quarter from -$45.0 million in Q1 2026.
Analysis
D-Wave Quantum (QBTS) Cash from Operations (2021 - 2026) Analysis & Trends
D-Wave Quantum has disclosed Cash from Operations across 6 years of filings, most recently posting -$28.5 million for Q2 2026.
- In Q2 2026, Cash from Operations fell 86.46% year-over-year to -$28.5 million; the TTM figure through Jun 2026 stood at -$110.9 million (down 119.04% YoY), while the FY2025 annual figure was -$72.0 million, down 68.8% from the prior year.
- Cash from Operations came in at -$28.5 million for Q2 2026 at D-Wave Quantum, up from -$45.0 million in the prior quarter.
- In the past five years, Cash from Operations ranged from a high of $2.0 million in Q4 2024 to a low of -$45.0 million in Q1 2026.
- Average Cash from Operations over 5 years is -$16.3 million, with a median of -$15.0 million recorded in 2023.
- Year-over-year, Cash from Operations jumped 113.68% in 2024 and plunged 1010.86% in 2025.
- Over 5 years, Cash from Operations stood at -$10.9 million in 2022, then slumped by 35.38% to -$14.7 million in 2023, then surged by 113.68% to $2.0 million in 2024, then sank by 1010.86% to -$18.4 million in 2025, then plunged by 55.14% to -$28.5 million in 2026.
- Per Business Quant data, the three most recent Cash from Operations figures were -$28.5 million in Q2 2026, -$45.0 million in Q1 2026, and -$18.4 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cash from Operations (Qtr) |
|---|---|---|---|---|---|
| 1 | IonQ | 9.47 Bn | 7.36 Bn | 19.94 Mn | -103.76 Mn |
| 2 | D-Wave Quantum | 6.07 Bn | 6.07 Bn | 1.70 Mn | -28.50 Mn |
| 3 | Rigetti Computing | 5.03 Bn | 5.03 Bn | 2.19 Mn | -15.78 Mn |
| 4 | Quantum Computing | 1.75 Bn | 1.75 Bn | -1.17 Mn | -13.87 Mn |
| 5 | Infleqtion | 1.32 Bn | 839.31 Mn | 2.17 Mn | 13.19 Mn |
| 6 | BTQ Technologies | 359.38 Mn | 359.38 Mn | - | -4.27 Mn |
| 7 | Quantum eMotion | 339.79 Mn | 339.79 Mn | - | - |
| 8 | Arqit Quantum | 251.50 Mn | 251.50 Mn | - | - |
| 9 | Horizon Quantum Holdings | 13.39 | -113.25 Mn | - | -5.11 Mn |
| 10 | Xanadu Quantum Technologies | 7.78 | -312.78 Mn | 1.38 Mn | -23.60 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -28.50 Mn |
| Mar 31, 2026 | -44.96 Mn |
| Dec 31, 2025 | -18.37 Mn |
| Sep 30, 2025 | -19.05 Mn |
| Jun 30, 2025 | -15.29 Mn |
| Mar 31, 2025 | -19.28 Mn |
| Dec 31, 2024 | 2.02 Mn |
| Sep 30, 2024 | -18.07 Mn |
| Jun 30, 2024 | -14.47 Mn |
| Mar 31, 2024 | -12.12 Mn |
| Dec 31, 2023 | -14.74 Mn |
| Sep 30, 2023 | -16.87 Mn |
| Jun 30, 2023 | -15.44 Mn |
| Mar 31, 2023 | -13.60 Mn |
| Dec 31, 2022 | -10.89 Mn |
| Sep 30, 2022 | -12.84 Mn |
| Jun 30, 2022 | -11.99 Mn |
| Mar 31, 2022 | -9.51 Mn |
| Dec 31, 2021 | -7.19 Mn |
| Sep 30, 2021 | -7.32 Mn |