# D-Wave Quantum share price today (D-Wave Quantum Inc., QBTS)

> D-Wave Quantum Inc.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. QBTS · Technology · Computer Hardware · data as of 4 November 2026. Page: https://www.sectoralpha.in/us/stocks/qbts

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## Key numbers

- Price: $10.38 (−64.8% in a year)
- Revenue (Jun 2026): $3.1 M (−0.6% on a year ago)
- Profit (Jun 2026), incl. one-off: −$48.0 M (one-off item, see below)
- Operating margin: −1,732.1% (−875.8 points on a year ago)
- ROE: −42%, FY25
- ROIC: −11.4%, against a 16.1% cost of capital: −27.5 points

Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. ## What is the D-Wave Quantum share price today? D-Wave Quantum Inc.'s share price was $10.38 at the close on 4 November 2026. It has been falling for 9 weeks. That is 45.4% below its average price over the last 200 trading days. In the last 52 weeks it traded between $10 and $30, and at that close it was at the low of that range. Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 17 weeks running. Over the last 5.9 years the share price moved +1% while the S&P 500 moved +108%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 10 July 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does D-Wave Quantum pay? D-Wave Quantum Inc. pays no dividend. In the last 12 reported quarters it declared no dividend per share, so there is no payout history to chart and no yield to show. Companies like this usually keep their earnings in the business, so the cash-flow sections show where that cash goes. ## Which stock lists is D-Wave Quantum on? D-Wave Quantum is on one of our US lists: US tech stocks. [US tech stocks](https://www.sectoralpha.in/us-tech-stocks)

## Is D-Wave Quantum profitable? D-Wave Quantum Inc. posted a net loss of $48.0 M in the Jun 2026 quarter. That quarter includes a one-off gain bigger than its revenue, so the comparison with last year does not reflect normal business. The full FY25 year was a loss of $355 M. That loss is 1,561.4% of the quarter's revenue. The same quarter a year earlier lost $167 M. 12 of the last 12 reported quarters were loss-making. Read this profit with care: at −$48.0 M it is bigger than the quarter's whole revenue of $3.1 M. No business earns more than it takes in from sales, so this is a one-off item (for example a debt settlement, a tax write-back or an asset sale), not money the business earned. The underlying business is running at a −1,732.1% operating margin. The jump on last year, and any P/E built on this profit, come from the one-off, not from a real turn in earnings. ## How much revenue does D-Wave Quantum make, and is it growing? D-Wave Quantum Inc. reported $3.1 M of revenue in the Jun 2026 quarter, −0.6% on the same quarter a year earlier. Over 4 years it has grown 40.7% a year on average. The last full year, FY25, came in at $24.6 M. The last four reported quarters add to $12.4 M. FY25 revenue was $24.6 M, +178.5% on the year before. Recent pace: the last four quarters grew +9.4% on average, against 40.7% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew −44.2%, against +10.8% a year over the last 8 quarters (rolling over). ## How much of every $100 of sales does D-Wave Quantum keep? D-Wave Quantum Inc.'s operating margin was −1,732.1% in the Jun 2026 quarter, 875.8 percentage points lower than the same quarter a year ago. Across 5 years it has been between −919.7% and −408.2%. The latest quarter is below every full year in that period. Why the margin moved: operating margin changed −875.8 percentage points on the year while gross margin changed −8.4 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is D-Wave Quantum's profit turning into cash? D-Wave Quantum Inc.'s cash-flow history is too short to judge how much of its profit turns into cash. In FY25 its operations used $72.0 M of cash, against −$355 M of profit. After $3.9 M of spending on assets, free cash was −$75.8 M: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does D-Wave Quantum's cash go? D-Wave Quantum Inc. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $6.6 M on assets over the last 3 years. Averaged over those years that is 8.9% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: $6.6 M over the last 3 years. In short: most of the cash goes on covering the loss, not on new assets; spending on assets is small next to it. ## What is D-Wave Quantum's P/E ratio, and how does it compare with its own history? D-Wave Quantum Inc. has no P/E right now, because its earnings are negative. The revenue and margin sections are where a turn would show first. Measured against sales instead, the market values D-Wave Quantum Inc. at 157.2× its FY25 revenue of $24.6 M. The P/E comes back here once profit turns positive. ## Is the D-Wave Quantum business getting better or worse? D-Wave Quantum Inc.'s business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 2 measures, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. The latest quarter’s profit includes a one-off item bigger than the normal business, so the profit line is shown but does not count in this reading. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does D-Wave Quantum earn on its capital? D-Wave Quantum Inc. earned a ROE of −42% in FY25. That is up from a low of −1,045% in FY21. Its return on capital used (ROIC) is 27.5 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a −1,444.1% net margin and 0.03× asset turnover (sales divided by assets). Why the return is what it is (FY25): a −1,444.1% net margin × 0.03× asset turnover × 1.07× leverage (assets divided by equity) ≈ −46.4% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: −11.4% − 16.1% = −27.5 percentage points. The 16.1% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does D-Wave Quantum have too much debt? D-Wave Quantum Inc. has total debt of $48.1 M against shareholder equity of $1.1 B as of Jun 2026, so its debt is 0.04× its equity, which is very little. Year by year, that ratio went from 7.01 in FY21 to 0.05 in FY25. So the returns on this page come from the business, not from borrowed money. ## What is the D-Wave Quantum shareholding pattern? 21.9% of D-Wave Quantum Inc.'s tradable shares are in short positions, which are bets that the price will fall, so a large group of traders is betting against it. At normal trading volumes, closing those positions would take about 4.9 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. It is a single reading at one point in time; we do not have its history. Why it is at this level: the figure does not say who holds the short positions or why, so we show the level without guessing the story. ## How far is D-Wave Quantum from balance-sheet trouble? For D-Wave Quantum Inc., the Z-score is 62.43. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is well clear of danger. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of 62.43 is well clear of the danger zone, so the balance sheet is not the risk here. ## How does D-Wave Quantum rank in its industry? 31.4 out of 100, rank 29 of 29 in Computer Hardware, with 45% of the evidence available. It is provisional, so it is ranked below companies with full evidence. D-Wave Quantum Inc. scores 31.4 out of 100 against the 29 companies it is compared with in Computer Hardware, ranking 29. Some evidence is missing, so the score is pulled toward the middle on purpose. The four parts add up to the total exactly: 11.2 + 7.9 + 10 + 2.3 = 31.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is D-Wave Quantum compared with? D-Wave Quantum ranks 29 of 29 Computer Hardware companies on the 4-Factor Sector Score, with 31.4 out of 100. 1. [Dell Technologies Inc.](https://www.sectoralpha.in/us/stocks/dell) DELL · losing its lead · Most evidence points up · 81% evidence 74.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.1/35 · Revenue 49% · Profit 100% · Operating margin change 5.4 points · 83% evidence Capital efficiency 19.3/25 · ROCE 34.3% · Operating margin 12% · 76% evidence Valuation 14.3/20 · P/E 23× · PEG 0.35 · 65% evidence Relative strength 13.6/20 · Lead over its industry 36.6% · Lead over S&P 500 20.6% · 1 year 153.3% · 100% evidence · 9 of 12 weeks ahead Exact sum: 27.1 + 19.3 + 14.3 + 13.6 = 74.3 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Cricut, Inc.](https://www.sectoralpha.in/us/stocks/crct) CRCT · leader · Most evidence points up · 66% evidence 65.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.3/35 · Revenue -3.2% · Profit 23.9% · Operating margin change 1.4 points · 53% evidence Capital efficiency 17.4/25 · ROCE 23.3% · Operating margin 18.9% · 57% evidence Valuation 14.0/20 · P/E 10.5× · PEG 0.37 · 65% evidence Relative strength 20.0/20 · Lead over its industry 79% · Lead over S&P 500 69.8% · 1 year 86.2% · 100% evidence · 12 of 12 weeks ahead Exact sum: 14.3 + 17.4 + 14 + 20 = 65.7 · What this means: Relative strength against the index is 69.8%, and revenue and profit growth are weak. 3. [Sandisk Corporation](https://www.sectoralpha.in/us/stocks/sndk) SNDK · quiet · Too little evidence to rank firmly · 58% evidence 62.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.2/35 · Revenue n/a · Profit n/a · Operating margin change 71.3 points · 45% evidence Capital efficiency 20.1/25 · ROCE 106.1% · Operating margin 79.6% · 76% evidence Valuation 9.6/20 · P/E 13× · PEG n/a · 15% evidence Relative strength 10.0/20 · Lead over its industry 5.8% · Lead over S&P 500 -7.3% · 1 year 333.3% · 100% evidence · 2 of 12 weeks ahead Exact sum: 23.2 + 20.1 + 9.6 + 10 = 62.9 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 4. [Logitech International S.A.](https://www.sectoralpha.in/us/stocks/logi) LOGI · basing · Evidence leans up · 66% evidence 61.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.0/35 · Revenue 6.6% · Profit 26.1% · Operating margin change 6.8 points · 53% evidence Capital efficiency 18.1/25 · ROCE 32.9% · Operating margin 21.2% · 57% evidence Valuation 12.0/20 · P/E 16.8× · PEG 0.56 · 65% evidence Relative strength 11.7/20 · Lead over its industry -2.8% · Lead over S&P 500 -7.2% · 1 year -16.8% · 100% evidence · 1 of 12 weeks ahead Exact sum: 20 + 18.1 + 12 + 11.7 = 61.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Everpure, Inc.](https://www.sectoralpha.in/us/stocks/p) P · leader · Evidence leans up · 71% evidence 61.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.3/35 · Revenue 27.2% · Profit 82% · Operating margin change 4.7 points · 83% evidence Capital efficiency 11.0/25 · ROCE 7.4% · Operating margin 5.3% · 76% evidence Valuation 8.5/20 · P/E 101.3× · PEG n/a · 15% evidence Relative strength 18.4/20 · Lead over its industry 35% · Lead over S&P 500 26.4% · 1 year 24% · 100% evidence · 12 of 12 weeks ahead Exact sum: 23.3 + 11 + 8.5 + 18.4 = 61.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [HP Inc.](https://www.sectoralpha.in/us/stocks/hpq) HPQ · losing its lead · Evidence leans up · 81% evidence 61.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.5/35 · Revenue 8.1% · Profit -7.2% · Operating margin change -0.6 points · 83% evidence Capital efficiency 17.6/25 · ROCE 32.8% · Operating margin 5.4% · 76% evidence Valuation 13.3/20 · P/E 10.2× · PEG 0.48 · 65% evidence Relative strength 17.6/20 · Lead over its industry 22.4% · Lead over S&P 500 14.9% · 1 year 13.9% · 100% evidence · 10 of 12 weeks ahead Exact sum: 12.5 + 17.6 + 13.3 + 17.6 = 61 · What this means: Relative strength against the index is 14.9%, and revenue and profit growth are weak. 7. [Super Micro Computer, Inc.](https://www.sectoralpha.in/us/stocks/smci) SMCI · quiet · Evidence leans up · 66% evidence 58.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.5/35 · Revenue 77.8% · Profit 100% · Operating margin change 9.4 points · 53% evidence Capital efficiency 14.7/25 · ROCE 12.2% · Operating margin 13.4% · 57% evidence Valuation 10.8/20 · P/E 8.6× · PEG 1.03 · 65% evidence Relative strength 10.0/20 · Lead over its industry -9.4% · Lead over S&P 500 -14.4% · 1 year -25.6% · 100% evidence · 8 of 12 weeks ahead Exact sum: 22.5 + 14.7 + 10.8 + 10 = 58 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Seagate Technology Holdings plc](https://www.sectoralpha.in/us/stocks/stx) STX · quiet · Evidence leans up · 61% evidence 57.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.9/35 · Revenue 34.1% · Profit 100% · Operating margin change 12.3 points · 53% evidence Capital efficiency 20.0/25 · ROCE 61.7% · Operating margin 43.1% · 76% evidence Valuation 8.6/20 · P/E 58.3× · PEG n/a · 15% evidence Relative strength 6.4/20 · Lead over its industry -3.2% · Lead over S&P 500 -13.2% · 1 year 99.3% · 100% evidence · 0 of 12 weeks ahead Exact sum: 22.9 + 20 + 8.6 + 6.4 = 57.9 · What this means: Earnings are strong; relative strength in its sector is -3.2% and the one-year return is 99.3%. 9. [Western Digital Corporation](https://www.sectoralpha.in/us/stocks/wdc) WDC · quiet · Too little evidence to rank firmly · 58% evidence 57.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.4/35 · Revenue n/a · Profit n/a · Operating margin change 19.5 points · 45% evidence Capital efficiency 20.1/25 · ROCE 58.4% · Operating margin 47.7% · 76% evidence Valuation 9.5/20 · P/E 15.1× · PEG n/a · 15% evidence Relative strength 5.8/20 · Lead over its industry -7.9% · Lead over S&P 500 -16.7% · 1 year 98.7% · 100% evidence · 0 of 12 weeks ahead Exact sum: 22.4 + 20.1 + 9.5 + 5.8 = 57.8 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 10. [Arista Networks, Inc.](https://www.sectoralpha.in/us/stocks/anet) ANET · losing its lead · Evidence leans up · 66% evidence 57.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.8/35 · Revenue 32.6% · Profit 24.4% · Operating margin change 0.7 points · 53% evidence Capital efficiency 17.9/25 · ROCE 26.9% · Operating margin 45.4% · 57% evidence Valuation 5.5/20 · P/E 52.9× · PEG 2.18 · 65% evidence Relative strength 16.5/20 · Lead over its industry 14.3% · Lead over S&P 500 6.7% · 1 year 32.6% · 100% evidence · 8 of 12 weeks ahead Exact sum: 17.8 + 17.9 + 5.5 + 16.5 = 57.7 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 11. [Corsair Gaming, Inc.](https://www.sectoralpha.in/us/stocks/crsr) CRSR · losing its lead · Too little evidence to rank firmly · 51% evidence 55.9 out of 100 Growth Capital Valuation Relative
12. [Quantum Corporation](https://www.sectoralpha.in/us/stocks/qmco) QMCO · leader · Too little evidence to rank firmly · 51% evidence 54.7 out of 100 Growth Capital Valuation Relative
13. [Unusual Machines, Inc.](https://www.sectoralpha.in/us/stocks/umac) UMAC · losing its lead · Too little evidence to rank firmly · 51% evidence 46.2 out of 100 Growth Capital Valuation Relative
14. [Nano Dimension Ltd.](https://www.sectoralpha.in/us/stocks/nndm) NNDM · quiet · Too little evidence to rank firmly · 51% evidence 45.9 out of 100 Growth Capital Valuation Relative
15. [IonQ, Inc.](https://www.sectoralpha.in/us/stocks/ionq) IONQ · quiet · Too little evidence to rank firmly · 51% evidence 44.7 out of 100 Growth Capital Valuation Relative
16. [3D Systems Corporation](https://www.sectoralpha.in/us/stocks/ddd) DDD · losing its lead · Too little evidence to rank firmly · 51% evidence 43.9 out of 100 Growth Capital Valuation Relative
17. [Rigetti Computing, Inc.](https://www.sectoralpha.in/us/stocks/rgti) RGTI · quiet · Too little evidence to rank firmly · 51% evidence 41.6 out of 100 Growth Capital Valuation Relative
18. [Stratasys Ltd.](https://www.sectoralpha.in/us/stocks/ssys) SSYS · quiet · Too little evidence to rank firmly · 51% evidence 41.6 out of 100 Growth Capital Valuation Relative
19. Draganfly Inc. DPRO · quiet · Too little evidence to rank firmly · 51% evidence 39.0 out of 100 Growth Capital Valuation Relative
20. Canaan Inc. CAN · basing · Too little evidence to rank firmly · 51% evidence 38.4 out of 100 Growth Capital Valuation Relative
21. Velo3D, Inc. VELO · quiet · Too little evidence to rank firmly · 51% evidence 38.2 out of 100 Growth Capital Valuation Relative
22. Virtuix Holdings Inc. VTIX · Too little evidence to rank firmly · 0% evidence 50.0 out of 100 Growth Capital Valuation Relative
23. Braiin Limited BRAI · quiet · Too little evidence to rank firmly · 20% evidence 48.2 out of 100 Growth Capital Valuation Relative
24. [Quantum Computing Inc.](https://www.sectoralpha.in/us/stocks/qubt) QUBT · quiet · Too little evidence to rank firmly · 47% evidence 47.1 out of 100 Growth Capital Valuation Relative
25. [AstroNova, Inc.](https://www.sectoralpha.in/us/stocks/alot) ALOT · Too little evidence to rank firmly · 31% evidence 46.9 out of 100 Growth Capital Valuation Relative
26. AMC Robotics Corporation AMCI · Too little evidence to rank firmly · 31% evidence 44.6 out of 100 Growth Capital Valuation Relative
27. One Stop Systems, Inc. OSS · quiet · Too little evidence to rank firmly · 46% evidence 40.7 out of 100 Growth Capital Valuation Relative
28. Bgin Blockchain Limited BGIN · turning · Too little evidence to rank firmly · 33% evidence 37.6 out of 100 Growth Capital Valuation Relative
29. D-Wave Quantum Inc. this page QBTS · quiet · Too little evidence to rank firmly · 45% evidence 31.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 11.2/35 · Revenue -40.9% · Profit n/a · Operating margin change -875.8 points · 40% evidence Capital efficiency 7.9/25 · ROCE -15.1% · Operating margin n/a · 46% evidence Valuation 10.0/20 · P/E n/a · PEG n/a · 0% evidence Relative strength 2.3/20 · Lead over its industry -49.9% · Lead over S&P 500 -51.9% · 1 year -64.8% · 100% evidence · 0 of 12 weeks ahead Exact sum: 11.2 + 7.9 + 10 + 2.3 = 31.4 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led S&P 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Dec 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Computer Hardware](https://www.sectoralpha.in/us/sectors/computer-hardware), all 29 compared on one page. ## Which companies are close to D-Wave Quantum in size? D-Wave Quantum is the 11th largest of 26 Computer Hardware companies on Sector Alpha by market value (scores of 4 November 2026). Just above it: Super Micro Computer, Inc., Logitech International S.A. and IonQ, Inc. Just below it: Rigetti Computing, Inc., Cricut, Inc. and Quantum Computing Inc. ### Computer Hardware companies close in size

1. [Super Micro Computer, Inc.](https://www.sectoralpha.in/us/stocks/smci) $19.4 billion
2. [Logitech International S.A.](https://www.sectoralpha.in/us/stocks/logi) $14 billion
3. [IonQ, Inc.](https://www.sectoralpha.in/us/stocks/ionq) $12.7 billion
4. D-Wave Quantum Inc. $3.9 billion
5. [Rigetti Computing, Inc.](https://www.sectoralpha.in/us/stocks/rgti) $3.7 billion
6. [Cricut, Inc.](https://www.sectoralpha.in/us/stocks/crct) $1.8 billion
7. [Quantum Computing Inc.](https://www.sectoralpha.in/us/stocks/qubt) $1.5 billion

[All 26 Computer Hardware companies, largest first](https://www.sectoralpha.in/us/sectors/computer-hardware#all-companies)

### Companies close in size in other industries

1. [Grand Canyon Education, Inc.](https://www.sectoralpha.in/us/stocks/lope) $3.9 billion · Education & Training Services
2. [PLDT Inc.](https://www.sectoralpha.in/us/stocks/phi) $3.9 billion · Telecom Services
3. D-Wave Quantum Inc. $3.9 billion
4. [BancFirst Corporation](https://www.sectoralpha.in/us/stocks/banf) $3.9 billion · Banks - Regional
5. [First Advantage Corporation](https://www.sectoralpha.in/us/stocks/fa) $3.9 billion · Specialty Business Services

## What else do people ask about D-Wave Quantum? ### What were D-Wave Quantum's latest quarterly results? D-Wave Quantum Inc. reported revenue of $3.1 M and a net loss of $48.0 M for the Jun 2026 quarter. Earnings per share were −$0.13. The operating margin was −1,732.1%, 875.8 percentage points lower than a year earlier (as of 4 November 2026). ### What is D-Wave Quantum's market cap? D-Wave Quantum Inc.'s market capitalisation is $3.9 B at a stock price of $10.38. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is D-Wave Quantum performing? D-Wave Quantum Inc.'s share price has been falling for 9 weeks. Over the past 13 weeks it has done worse than the S&P 500, for 17 weeks running. This describes what the data did, not a rating (as of 4 November 2026). ### Will D-Wave Quantum's stock price go up? This page does not forecast D-Wave Quantum Inc.'s stock price. What it shows instead: the stock price is $10.38, and it has been falling for 9 weeks. Nobody can reliably say which way a price will move, and this site does not try (as of 4 November 2026). ### Where is D-Wave Quantum in its business cycle? D-Wave Quantum Inc.'s FY25 operating margin was −408.2%, against a 5-year range of −919.7% to −408.2%: the middle of its own range, neither a peak nor a low. The latest quarter was −1,732.1%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the D-Wave Quantum story? Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is D-Wave Quantum a stock worth studying right now? What the numbers show: D-Wave Quantum Inc.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: the next one or two quarters of results. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ## Lists

- US tech stocks: https://www.sectoralpha.in/us-tech-stocks

This is research, not advice. We’re not SEBI-registered.