D-Wave Quantum (QBTS) Net Margin (2021 - 2026)
D-Wave Quantum (QBTS) reported Net Margin of -1561.38% for Q2 2026, up 3845.05 percentage points from -5406.43% a year earlier but down 919.08 percentage points from the prior quarter.
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Analysis
D-Wave Quantum (QBTS) Net Margin (2021 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, D-Wave Quantum's Net Margin came in at -2001.59%, down 737.66 percentage points year-over-year; for FY2025, it came in at -1444.10%, up 185.88 percentage points from FY2024.
- Net Margin has a five-year change of -1017.75 percentage points (FY2020 to FY2025).
- By year, Net Margin came in at -1629.99% in FY2024 (-685.54 pp), -944.45% in FY2023 (-195.78 pp), -748.67% in FY2022 (-95.70 pp) and -652.97% in FY2021 (-226.61 pp).
- Five-year quarterly Net Margin spans a low of -5406.43% in Q2 2025 and a high of -36.14% in Q1 2025.
- Year over year, Net Margin gained in three of the last eight quarters, with an average year-over-year change of -598.65 percentage points.
- The high point for year-over-year Net Margin in five years was Q2 2026 (a gain of 3845.05 percentage points); the low point was Q2 2025 (a drop of 4592.05 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at -642.30% (Q1 2026), -1538.01% (Q4 2025) and -3743.94% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 330.54 Bn | 315.61 Bn | 2.30 Bn | -8.27% |
| 2 | CrowdStrike Holdings | 271.79 Bn | 252.23 Bn | 1.10 Bn | 0.36% |
| 3 | Fortinet | 138.86 Bn | 124.79 Bn | 1.64 Bn | 29.61% |
| 4 | Snowflake | 117.29 Bn | 104.60 Bn | 1.04 Bn | -12.39% |
| 5 | Datadog | 97.40 Bn | 79.04 Bn | 881.34 Mn | 3.97% |
| 6 | Okta | 36.44 Bn | 26.53 Bn | 641.00 Mn | 14.41% |
| 7 | Zscaler | 34.82 Bn | 20.94 Bn | - | - |
| 8 | Axon Enterprise | 32.98 Bn | 27.51 Bn | 546.45 Mn | 3.25% |
| 9 | MongoDB | 29.24 Bn | 19.71 Bn | 569.77 Mn | 5.30% |
| 10 | D-Wave Quantum | 5.66 Bn | 5.66 Bn | 1.70 Mn | -1,561.38% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -1,561.38% |
| Mar 31, 2026 | -642.30% |
| Dec 31, 2025 | -1,538.01% |
| Sep 30, 2025 | -3,743.94% |
| Jun 30, 2025 | -5,406.43% |
| Mar 31, 2025 | -36.14% |
| Dec 31, 2024 | -3,727.89% |
| Sep 30, 2024 | -1,214.55% |
| Jun 30, 2024 | -814.38% |
| Mar 31, 2024 | -702.31% |
| Dec 31, 2023 | -551.07% |
| Sep 30, 2023 | -628.65% |
| Jun 30, 2023 | -1,534.86% |
| Mar 31, 2023 | -1,541.76% |
| Dec 31, 2022 | -742.34% |
| Sep 30, 2022 | -785.31% |
| Jun 30, 2022 | -897.16% |
| Mar 31, 2022 | -677.17% |
| Dec 31, 2021 | -960.22% |
| Sep 30, 2021 | -322.04% |
API Access
D-Wave Quantum Net 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=net-margin&ticker=QBTS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=QBTS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();