D-Wave Quantum (QBTS) Operating Margin (2021 - 2026)
D-Wave Quantum's Operating Margin came in at -1732.05% for Q2 2026, down 875.77 percentage points from -856.28% a year earlier but up 182.82 percentage points from the prior quarter.
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Analysis
D-Wave Quantum (QBTS) Operating Margin (2021 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, D-Wave Quantum reported Operating Margin of -1372.88%, down 1019.74 percentage points year-over-year; for FY2025, it came in at -408.22%, up 466.63 percentage points from FY2024.
- Operating Margin carries a five-year change of +201.61 percentage points (FY2020 to FY2025).
- Going back by year, Operating Margin was -874.85% in FY2024 (+44.83 pp), -919.68% in FY2023 (-90.77 pp), -828.91% in FY2022 (-208.62 pp) and -620.29% in FY2021 (-10.46 pp).
- The five-year range for quarterly Operating Margin is -1914.87% (Q1 2026) to -75.27% (Q1 2025).
- Year-over-year, Operating Margin has declined for three consecutive quarters, with an average year-over-year change of -349.18 percentage points over the last eight quarters.
- The fastest year-over-year change in Operating Margin over five years came in Q1 2024 (a gain of 849.11 percentage points), and the weakest in Q1 2026 (a drop of 1839.60 percentage points).
- Business Quant data shows QBTS's Operating Margin at -1914.87% (Q1 2026), -1265.95% (Q4 2025) and -741.80% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 294.89 Bn | 279.96 Bn | 2.30 Bn | 5.04% |
| 2 | CrowdStrike Holdings | 268.88 Bn | 249.28 Bn | 1.10 Bn | -2.26% |
| 3 | Fortinet | 130.27 Bn | 116.20 Bn | 1.64 Bn | 33.66% |
| 4 | Snowflake | 117.86 Bn | 105.17 Bn | 1.04 Bn | -17.00% |
| 5 | Datadog | 98.41 Bn | 80.06 Bn | 881.34 Mn | 0.49% |
| 6 | Zscaler | 41.08 Bn | 27.20 Bn | - | - |
| 7 | Okta | 38.88 Bn | 28.98 Bn | 641.00 Mn | 13.29% |
| 8 | Axon Enterprise | 33.92 Bn | 28.44 Bn | 546.45 Mn | 5.17% |
| 9 | MongoDB | 31.62 Bn | 22.09 Bn | 569.77 Mn | 3.68% |
| 10 | D-Wave Quantum | 4.32 Bn | 1.46 Bn | 1.70 Mn | -1,732.05% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -1,732.05% |
| Mar 31, 2026 | -1,914.87% |
| Dec 31, 2025 | -1,265.95% |
| Sep 30, 2025 | -741.80% |
| Jun 30, 2025 | -856.28% |
| Mar 31, 2025 | -75.27% |
| Dec 31, 2024 | -876.22% |
| Sep 30, 2024 | -1,103.53% |
| Jun 30, 2024 | -862.99% |
| Mar 31, 2024 | -710.59% |
| Dec 31, 2023 | -569.24% |
| Sep 30, 2023 | -718.46% |
| Jun 30, 2023 | -1,224.78% |
| Mar 31, 2023 | -1,559.70% |
| Dec 31, 2022 | -878.12% |
| Sep 30, 2022 | -894.63% |
| Jun 30, 2022 | -904.67% |
| Mar 31, 2022 | -639.29% |
| Dec 31, 2021 | -447.40% |
| Sep 30, 2021 | -749.27% |
API Access
D-Wave Quantum Operating 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=operating-margin&ticker=QBTS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=QBTS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();