D-Wave Quantum (QBTS) FCF Margin (2021 - 2026)
D-Wave Quantum (QBTS) recorded FCF Margin of -1070.97% in Q2 2026, down 552.88 percentage points from -518.09% a year earlier but up 539.98 percentage points from the prior quarter.
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Analysis
D-Wave Quantum (QBTS) FCF Margin (2021 - 2026) Analysis & Trends
On a TTM basis, D-Wave Quantum's FCF Margin came in at -958.36% as of Jun 30, 2026, down 720.14 percentage points year-over-year; for FY2025, it came in at -308.47%, up 198.48 percentage points from FY2024.
- Annual FCF Margin has a five-year change of +273.62 percentage points (FY2020 to FY2025).
- Across earlier years, FCF Margin came in at -506.96% in FY2024 (+192.20 pp), -699.16% in FY2023 (-62.75 pp), -636.40% in FY2022 (-53.92 pp) and -582.48% in FY2021 (-0.39 pp).
- Quarterly FCF Margin has ranged from -1610.95% in Q1 2026 to 46.21% in Q4 2024 over the past five years.
- On a year-over-year basis, FCF Margin has declined for three consecutive quarters, with an average year-over-year change of -196.43 percentage points over the last eight quarters.
- Peak year-over-year performance for FCF Margin in the last five years was a gain of 568.61 percentage points in Q4 2024, against a drop of 1479.51 percentage points in Q1 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at -1610.95% (Q1 2026), -727.87% (Q4 2025) and -536.53% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 330.54 Bn | 315.61 Bn | 2.30 Bn | 36.77% |
| 2 | CrowdStrike Holdings | 271.79 Bn | 252.23 Bn | 1.10 Bn | 27.59% |
| 3 | Fortinet | 138.86 Bn | 124.79 Bn | 1.64 Bn | 47.15% |
| 4 | Snowflake | 117.29 Bn | 104.60 Bn | 1.04 Bn | 5.42% |
| 5 | Datadog | 97.40 Bn | 79.04 Bn | 881.34 Mn | 27.28% |
| 6 | Okta | 36.44 Bn | 26.53 Bn | 641.00 Mn | 28.94% |
| 7 | Zscaler | 34.82 Bn | 20.94 Bn | - | - |
| 8 | Axon Enterprise | 32.98 Bn | 27.51 Bn | 546.45 Mn | -0.11% |
| 9 | MongoDB | 29.24 Bn | 19.71 Bn | 569.77 Mn | 18.06% |
| 10 | D-Wave Quantum | 5.66 Bn | 5.66 Bn | 1.70 Mn | -1,070.97% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -1,070.97% |
| Mar 31, 2026 | -1,610.95% |
| Dec 31, 2025 | -727.87% |
| Sep 30, 2025 | -536.53% |
| Jun 30, 2025 | -518.09% |
| Mar 31, 2025 | -131.44% |
| Dec 31, 2024 | 46.21% |
| Sep 30, 2024 | -982.83% |
| Jun 30, 2024 | -687.72% |
| Mar 31, 2024 | -504.02% |
| Dec 31, 2023 | -522.40% |
| Sep 30, 2023 | -660.73% |
| Jun 30, 2023 | -905.62% |
| Mar 31, 2023 | -863.17% |
| Dec 31, 2022 | -461.84% |
| Sep 30, 2022 | -761.83% |
| Jun 30, 2022 | -878.41% |
| Mar 31, 2022 | -562.29% |
| Dec 31, 2021 | -307.75% |
| Sep 30, 2021 | -592.12% |
API Access
D-Wave Quantum FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=QBTS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "QBTS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=QBTS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();