Germany was D-Wave Quantum’s largest region in fiscal 2025, bringing in $50.30M of $73.76M (68%).
| Geography | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Germany | $3.45M | $3.80M | $5.68M | $50.30M | ||
| United States | $10.03M | $9.98M | $6.45M | $7.96M | ||
| Other | $4.32M | $8.47M | $5.31M | $6.04M | ||
| Japan | $3.72M | $2.73M | $3.40M | $3.95M | ||
| Switzerland | — | — | $2.33M | $2.88M | ||
| Canada | — | $1.30M | $3.30M | $2.63M | ||
| Total | $21.52M | $26.27M | $26.48M | $73.76M |
D-Wave Quantum brought in $73.76M from its six regions in fiscal 2025, the year ended December 31, 2025. That was up 178.5% from $26.48M in fiscal 2024. Germany was the largest at $50.30M (68.2%), ahead of United States at $7.96M (10.8%) and Other at $6.04M (8.2%). The other three regions brought in $9.46M combined.
Compared with fiscal 2024, Germany grew fastest, up 785.2% to $50.30M, while Canada fell the most, down 20.3% to $2.63M.
D-Wave Quantum began breaking out Switzerland in fiscal 2024 and Canada in fiscal 2023.
System Sales was D-Wave Quantum’s largest product and service line in fiscal 2025, bringing in $48.55M of $73.76M (66%).
| Product and Service | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| System Sales | — | — | — | $48.55M | ||
| Qcaas | $16.85M | $14.69M | $20.24M | $16.55M | ||
| Professional Services | $4.43M | $11.45M | $5.81M | $8.16M | ||
| Other Revenue | $237.00K | $141.00K | $432.00K | $504.00K | ||
| Product & Service, Other | — | — | — | — | ||
| Total | $21.52M | $26.27M | $26.48M | $73.76M |
D-Wave Quantum brought in $73.76M from its four product and service lines in fiscal 2025, the year ended December 31, 2025. D-Wave Quantum regrouped these lines after fiscal 2024, so the total does not compare directly with that year's $26.48M. System Sales was the largest at $48.55M (65.8%), ahead of Qcaas at $16.55M (22.4%) and Professional Services at $8.16M (11.1%). The remaining line, Other Revenue, brought in $504.00K.
Compared with fiscal 2024, Professional Services grew 40.4% to $8.16M, while Qcaas fell 18.2% to $16.55M.
D-Wave Quantum began breaking out System Sales in fiscal 2025, when it brought in $48.55M.
Revenue Recognized At A Point In Time was D-Wave Quantum’s largest revenue line in fiscal 2025, bringing in $38.97M of $73.76M (53%).
| Timing of Transfer of Good or Service | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Revenue Recognized Over Time | $20.88M | $25.71M | $26.32M | $34.79M | ||
| Transferred Over Time | — | — | — | — | ||
| Revenue Recognized At A Point In Time | $639.00K | $567.00K | $162.00K | $38.97M | ||
| Transferred At Point In Time | — | — | — | — | ||
| Total | $21.52M | $26.27M | $26.48M | $73.76M |
D-Wave Quantum brought in $73.76M from its two revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 178.5% from $26.48M in fiscal 2024. Revenue Recognized At A Point In Time was the largest at $38.97M (52.8%), ahead of Revenue Recognized Over Time at $34.79M (47.2%).
Compared with fiscal 2024, Revenue Recognized At A Point In Time grew 23,953.7% to $38.97M and Revenue Recognized Over Time grew 32.2% to $34.79M. From fiscal 2022 to 2025, combined revenue from these revenue lines grew from $21.52M to $73.76M, a compound annual growth rate of 50.8%. Revenue Recognized At A Point In Time's share of the total rose from 3.0% to 52.8%.
D-Wave Quantum (QBTS) reports its revenue by geography, by product and service and by timing of transfer of good or service. In fiscal 2025, Germany was its largest region, bringing in $50.30M (68.2% of the total), followed by United States at $7.96M (10.8%).
Germany was D-Wave Quantum's largest region in fiscal 2025, bringing in $50.30M, or 68.2% of the $73.76M total across its six regions.
System Sales was D-Wave Quantum's largest product and service line in fiscal 2025, bringing in $48.55M, or 65.8% of the $73.76M total across its four product and service lines.
Revenue Recognized At A Point In Time was D-Wave Quantum's largest revenue line in fiscal 2025, bringing in $38.97M, or 52.8% of the $73.76M total across its two revenue lines.
Among D-Wave Quantum's regions that make up at least 2% of revenue, Germany grew fastest in fiscal 2025, up 785.2% from $5.68M to $50.30M.
Every figure comes from D-Wave Quantum's annual financial filings, as reported. Each line keeps the name D-Wave Quantum gives it, and years follow its fiscal calendar.
D-Wave Quantum's revenue by geography goes back to fiscal 2020, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.