D-Wave Quantum (QBTS) Operating Margin (2021 - 2026)

D-Wave Quantum has disclosed Operating Margin across 6 years of filings, most recently posting 1914.87% for Q1 2026.

• Operating Margin for Q1 2026 came in at 1914.87%, down 183960.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 1155.61% (down 82327.0% YoY), and the FY2025 annual result was 408.22%, up 46663.0% from the prior year.
• Operating Margin came in at 1914.87% for Q1 2026 at D-Wave Quantum, down from 1265.95% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 75.27% in Q1 2025 to a low of 1914.87% in Q1 2026.
• The 5-year median for Operating Margin is 876.22% (2024), against an average of 929.2%.
• Across the five-year window, Operating Margin surged 84911 bps in 2024 and plunged 183960 bps in 2026, its largest moves.
• D-Wave Quantum's Operating Margin stood at 878.12% in 2022, then surged by 35 bps to 569.24% in 2023, then slumped by 54 bps to 876.22% in 2024, then slumped by 44 bps to 1265.95% in 2025, then tumbled by 51 bps to 1914.87% in 2026.
• The last three Operating Margin figures came in at 1914.87% (Q1 2026), 1265.95% (Q4 2025), and 741.8% (Q3 2025), per Business Quant data.