D-Wave Quantum (QBTS) Invested Capital (2020 - 2026)

D-Wave Quantum has disclosed Invested Capital across 7 years of filings, most recently posting $1.1 billion for Q1 2026.

• Invested Capital for Q1 2026 came in at $1.1 billion, up 441.26% year-over-year; the trailing twelve-month figure through Mar 2026 was $1.1 billion (up 441.26% YoY), and the FY2025 annual result was $852.4 million, up 1260.6% from the prior year.
• Invested Capital came in at $1.1 billion for Q1 2026 at D-Wave Quantum, up from $852.4 million in the prior quarter.
• In the past five years, Invested Capital ranged from a high of $1.1 billion in Q1 2026 to a low of -$35.4 million in Q2 2023.
• The 5-year median for Invested Capital is $6.9 million (2023), against an average of $206.3 million.
• Across the five-year window, Invested Capital plunged 444.54% in 2023 and soared 20961.52% in 2025, its largest moves.
• D-Wave Quantum's Invested Capital stood at -$28.1 million in 2022, then surged by 124.66% to $6.9 million in 2023, then jumped by 805.42% to $62.6 million in 2024, then soared by 1260.6% to $852.4 million in 2025, then surged by 31.91% to $1.1 billion in 2026.
• The last three Invested Capital figures came in at $1.1 billion (Q1 2026), $852.4 million (Q4 2025), and $670.7 million (Q3 2025), per Business Quant data.