Key Takeaways
D-Wave Quantum Inc. (NYSE: QBTS) saw its stock fall 3.1 percent even as the company reported a narrower-than-expected first-quarter loss and record bookings, as an 81 percent plunge in revenue overshadowed the positive metrics.
"The first-quarter performance exceeded the high end of guidance, and we are raising 2026 full year guidance," Tami Newcombe, President and Chief Executive Officer at Ralliant, said in a statement, though the market focused on the revenue miss.
The quantum computing firm reported a loss of five cents per share, smaller than the eight-cent loss estimated by analysts. Revenue for the quarter was $2.86 million, drastically missing the $4.2 million projection and representing an 81 percent drop year-over-year. The company did not disclose its forward guidance.
In a sign of future potential, D-Wave announced a record $33.4 million in new bookings, an increase year-over-year that sent shares of sector peers IonQ and Rigetti Computing higher. Despite the revenue figures, analyst sentiment on D-Wave remains broadly positive, with 13 of 15 brokerages covering the stock maintaining "buy" or better ratings. Options traders also appeared bullish, with call volume running at double the intraday average.
The sharp revenue decline highlights the volatile nature of the emerging quantum computing sector, where companies are investing heavily in technology that is not yet generating consistent returns. The surge in bookings, however, indicates that commercial and government interest is growing. Investors will watch to see if D-Wave can convert these bookings into revenue in the coming quarters, with the stock now testing its 320-day moving average for the first time this year.
This article is for informational purposes only and does not constitute investment advice.
