D-Wave Quantum (QBTS) Gross Margin (2021 - 2026)
D-Wave Quantum's Gross Margin came in at 55.40% for Q2 2026, down 8.45 percentage points from 63.84% a year earlier and down 8.21 percentage points from the prior quarter.
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Analysis
D-Wave Quantum (QBTS) Gross Margin (2021 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, D-Wave Quantum reported Gross Margin of 64.19%, down 18.28 percentage points year-over-year; for FY2025, it was 82.59%, up 19.57 percentage points from FY2024.
- Gross Margin carries a five-year change of +0.32 percentage points (FY2020 to FY2025).
- Going back by year, Gross Margin was 63.02% in FY2024 (+10.25 pp), 52.77% in FY2023 (-6.48 pp), 59.25% in FY2022 (-12.88 pp) and 72.13% in FY2021 (-10.14 pp).
- The Q2 2026 figure represents the lowest quarterly Gross Margin since Q2 2023.
- Year-over-year, Gross Margin increased in four of the last eight quarters, with an average year-over-year change of -0.38 percentage points.
- The fastest year-over-year change in Gross Margin over five years came in Q1 2024 (a gain of 40.71 percentage points), and the weakest in Q1 2023 (a drop of 37.44 percentage points).
- Business Quant data shows QBTS's Gross Margin at 63.61% (Q1 2026), 64.83% (Q4 2025) and 71.38% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 236.47 Bn | 221.54 Bn | 2.30 Bn | 67.57% |
| 2 | CrowdStrike Holdings | 222.11 Bn | 202.51 Bn | 1.10 Bn | 74.57% |
| 3 | Snowflake | 94.71 Bn | 82.03 Bn | 1.04 Bn | 67.02% |
| 4 | Fortinet | 89.93 Bn | 74.19 Bn | 1.64 Bn | 78.95% |
| 5 | Datadog | 63.01 Bn | 43.55 Bn | 959.92 Mn | 80.19% |
| 6 | Zscaler | 32.84 Bn | 19.00 Bn | 689.22 Mn | 76.73% |
| 7 | Axon Enterprise | 30.75 Bn | 25.27 Bn | 546.45 Mn | 60.42% |
| 8 | Okta | 29.97 Bn | 20.07 Bn | 641.00 Mn | 79.63% |
| 9 | MongoDB | 24.61 Bn | 15.08 Bn | 569.77 Mn | 73.83% |
| 10 | D-Wave Quantum | 3.37 Bn | 515.61 Mn | 1.70 Mn | 55.40% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 55.40% |
| 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% |
API Access
D-Wave Quantum Gross 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=gross-margin&ticker=QBTS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-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=gross-margin&ticker=QBTS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();