D-Wave Quantum (QBTS) Gross Margin (2021 - 2026)
D-Wave Quantum (QBTS) posted Gross Margin of 63.61% for Q1 2026, down 1.87% sequentially from 64.83% in Q4 2025, and down 2890.0% YoY from 2.28% in Q1 2025.
D-Wave Quantum (QBTS) Gross Margin (2021 - 2026) Analysis & Trends
D-Wave Quantum has reported Gross Margin for 6 years, with the latest figure at 63.61% in Q1 2026.
- Quarterly Gross Margin fell 2890.0% year-over-year to 63.61% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 66.27% (down 1696.0% YoY) and the FY2025 annual result came in at 82.59%, up 1957.0% from the prior year.
- Gross Margin fell to 63.61% in Q1 2026 per QBTS's latest filing, from 64.83% in the prior quarter.
- Over five years, Gross Margin peaked at 92.51% in Q1 2025 and troughed at 26.6% in Q1 2023.
- A 5-year average of 61.04% and a median of 63.61% in 2026 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2023 and 2024: Gross Margin plunged 3744 bps in 2023, then soared 4071 bps in 2024.
- Over 5 years, Gross Margin stood at 55.53% in 2022, then grew by 22 bps to 67.69% in 2023, then fell by 6 bps to 63.79% in 2024, then climbed by 2 bps to 64.83% in 2025, then slipped by 2 bps to 63.61% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 63.61%, 64.83%, and 71.38% for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Dell Technologies | 279.74 Bn | 268.16 Bn | 7.78 Bn | 17.75% |
| 2 | Arista Networks | 233.03 Bn | 220.67 Bn | 1.68 Bn | 61.90% |
| 3 | Sandisk | 191.00 Bn | 187.26 Bn | 4.66 Bn | 78.35% |
| 4 | Seagate Technology Holdings | 182.93 Bn | 181.79 Bn | 1.45 Bn | 46.50% |
| 5 | Western Digital | 180.27 Bn | 177.03 Bn | 1.68 Bn | 50.22% |
| 6 | Everpure | 26.48 Bn | 24.98 Bn | 723.33 Mn | 68.70% |
| 7 | Hp | 25.04 Bn | 21.33 Bn | 3.02 Bn | 20.93% |
| 8 | Super Micro Computer | 17.15 Bn | 15.86 Bn | 1.02 Bn | 9.95% |
| 9 | Logitech International | 15.08 Bn | 13.33 Bn | 607.94 Mn | 49.54% |
| 10 | D-Wave Quantum | 7.35 Bn | 7.35 Bn | 1.82 Mn | 63.61% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 63.61% |
| Dec 31, 2025 | 64.83% |
| Sep 30, 2025 | 71.38% |
| Jun 30, 2025 | 63.84% |
| Mar 31, 2025 | 92.51% |
| Dec 31, 2024 | 63.79% |
| Sep 30, 2024 | 55.78% |
| Jun 30, 2024 | 63.58% |
| Mar 31, 2024 | 67.30% |
| Dec 31, 2023 | 67.69% |
| Sep 30, 2023 | 59.68% |
| Jun 30, 2023 | 41.30% |
| Mar 31, 2023 | 26.60% |
| Dec 31, 2022 | 55.53% |
| Sep 30, 2022 | 61.42% |
| Jun 30, 2022 | 54.78% |
| Mar 31, 2022 | 64.04% |
| Dec 31, 2021 | 63.85% |
| Sep 30, 2021 | 76.51% |
| Jun 30, 2021 | 60.60% |