D-Wave Quantum (QBTS) Research & Development (2021 - 2026)
D-Wave Quantum's (QBTS) quarterly Research & Development came in at $28.2 million in Q2 2026, up 122.46% year-over-year from $12.7 million in Q2 2025, and up 9.48% quarter-over-quarter from $25.8 million in Q1 2026.
Analysis
D-Wave Quantum (QBTS) Research & Development (2021 - 2026) Analysis & Trends
D-Wave Quantum has disclosed Research & Development across 6 years of filings, most recently posting $28.2 million for Q2 2026.
- In Q2 2026, Research & Development rose 122.46% year-over-year to $28.2 million; the TTM figure through Jun 2026 stood at $81.8 million (up 97.54% YoY), while the FY2025 annual figure was $50.7 million, up 43.72% from the prior year.
- Research & Development came in at $28.2 million for Q2 2026 at D-Wave Quantum, up from $25.8 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of $28.2 million in Q2 2026 to a low of $6.8 million in Q1 2022.
- Average Research & Development over 5 years is $11.7 million, with a median of $9.6 million recorded in 2023.
- Year-over-year, Research & Development decreased 22.77% in 2023 and soared 150.71% in 2026.
- Over 5 years, Research & Development stood at $10.3 million in 2022, then dropped by 22.77% to $8.0 million in 2023, then grew by 22.57% to $9.8 million in 2024, then surged by 40.25% to $13.7 million in 2025, then surged by 106.47% to $28.2 million in 2026.
- Per Business Quant data, the three most recent Research & Development figures were $28.2 million in Q2 2026, $25.8 million in Q1 2026, and $13.7 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | IonQ | 9.47 Bn | 7.36 Bn | 19.94 Mn | 160.63 Mn |
| 2 | D-Wave Quantum | 6.07 Bn | 6.07 Bn | 1.70 Mn | 28.24 Mn |
| 3 | Rigetti Computing | 5.03 Bn | 5.03 Bn | 2.19 Mn | 20.73 Mn |
| 4 | Quantum Computing | 1.75 Bn | 1.75 Bn | -1.17 Mn | 8.43 Mn |
| 5 | Infleqtion | 1.32 Bn | 839.31 Mn | 2.17 Mn | 12.68 Mn |
| 6 | BTQ Technologies | 359.38 Mn | 359.38 Mn | - | 2.13 Mn |
| 7 | Quantum eMotion | 339.79 Mn | 339.79 Mn | - | 284,255.66 |
| 8 | Arqit Quantum | 251.50 Mn | 251.50 Mn | - | - |
| 9 | Horizon Quantum Holdings | 13.39 | -113.25 Mn | - | 2.61 Mn |
| 10 | Xanadu Quantum Technologies | 7.78 | -312.78 Mn | 1.38 Mn | 19.72 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 28.24 Mn |
| Mar 31, 2026 | 25.79 Mn |
| Dec 31, 2025 | 13.68 Mn |
| Sep 30, 2025 | 14.08 Mn |
| Jun 30, 2025 | 12.69 Mn |
| Mar 31, 2025 | 10.29 Mn |
| Dec 31, 2024 | 9.75 Mn |
| Sep 30, 2024 | 8.67 Mn |
| Jun 30, 2024 | 8.36 Mn |
| Mar 31, 2024 | 8.53 Mn |
| Dec 31, 2023 | 7.96 Mn |
| Sep 30, 2023 | 9.46 Mn |
| Jun 30, 2023 | 9.55 Mn |
| Mar 31, 2023 | 10.92 Mn |
| Dec 31, 2022 | 10.30 Mn |
| Sep 30, 2022 | 7.51 Mn |
| Jun 30, 2022 | 7.46 Mn |
| Mar 31, 2022 | 6.80 Mn |
| Dec 31, 2021 | 6.13 Mn |
| Sep 30, 2021 | 6.31 Mn |