QBTS Stock — D-Wave Quantum Research Profile
Annealing quantum systems · Quantum-as-a-service via Leap cloud platform
About D-Wave Quantum
D-Wave Quantum Inc (NYSE: QBTS) is a quantum-computing company headquartered in Palo Alto, California, with operations and engineering teams in Burnaby, British Columbia. Unlike most quantum-computing peers that pursue gate-based architectures (superconducting, trapped-ion, photonic), D-Wave specializes in quantum annealing — a different paradigm focused on optimization problems rather than general-purpose computation. The company offers commercial quantum systems plus its Leap cloud service for delivering quantum compute as a managed offering.
D-Wave is one of the most-watched quantum tickers among retail traders. Search interest on “d wave quantum stock” averages roughly 33,100 per month, and the quantum-stock cluster as a whole gets ~50K monthly searches. The company has the longest operating history among publicly-traded quantum-pure-plays — meaning a more mature commercial pipeline than many peers, but also a longer track record of capital raises and unprofitable operations.
Public stats & profile
The following data is sourced from publicly available filings and market data as of mid-May 2026. Numbers shift daily — verify on your broker terminal before any research conclusion.
Sources: D-Wave Quantum SEC filings (10-K, 10-Q), NYSE market data, company Leap platform usage disclosures.
Recent public catalysts (trailing 90 days)
The events below are drawn from public news, SEC filings, and partnership announcements. Each affected the public trading profile of QBTS shares in a known direction; the magnitude varied. None of this constitutes a recommendation — it’s historical context for research.
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FEB 2026
Annual / Q4 2025 earningsD-Wave reported full-year 2025 results, including bookings update, customer additions, and Advantage2 system rollout progress.
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MAR 2026
Leap platform usage milestoneUpdates on commercial Leap quantum-cloud platform usage and customer activity.
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APR 2026
Q1 2026 earningsQuarterly results, including cash position update, bookings, and government / commercial pipeline commentary.
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APR 2026
Industry partnership press cycleBroader quantum-AI industry press around NVIDIA and hyperscaler partnerships influenced QBTS alongside peers.
Upcoming public catalysts (next 90 days)
The following are publicly known future events that could affect QBTS’s trading profile. Dates may shift; verify on D-Wave’s investor relations page and SEC EDGAR before treating any of them as fixed.
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~Q3 2026
Q2 2026 earnings releaseQuarterly financial results — historically a primary near-term catalyst with focus on bookings growth and Leap usage metrics.
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ROLLING
Government contract announcementsDoD, DOE, intelligence-agency, and allied-government contract awards have historically been high-impact public catalysts.
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ROLLING
Advantage2 system deploymentsNews of new Advantage2 quantum-annealing system customer installations.
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ROLLING
Quantum-AI partnership newsSector-wide press around partnerships with NVIDIA, hyperscalers, or system integrators historically moves quantum tickers as a group.
When our scanner spots a small-cap with bullish setup conditions, we send one alert simultaneously to email, WhatsApp, Telegram, and Discord. Pick your channel.
StockShips Scan profile
Our scan applies four filters when researching small-cap momentum setups: float profile, volume ratio, catalyst proximity, and cap-table health. Here’s where D-Wave Quantum (QBTS) currently lands across the four — this is a profile, not a recommendation.
Float Profile
~280M float — well above the sub-50M ideal range. QBTS trades more like a small-cap technology growth name than a microcap momentum stock.
Volume Ratio
Average daily volume of ~20M is strong — among the most-liquid quantum tickers. Volume ratio readings above 3× the 10-day average have historically appeared around major contract and partnership news.
Catalyst Proximity
Q2 earnings approaching plus rolling press cycle on quantum-AI partnerships and government contracts. Multiple possible catalysts with unpredictable timing on partnership news.
Cap-Table Health
D-Wave has used multiple equity raises since going public via SPAC. Review most recent 10-Q for current cash position and any active S-3 shelf registration.
Key risks specific to QBTS
- Dilution risk. D-Wave has used multiple equity raises since its SPAC merger and continues to fund operations through capital markets.
- Technology approach risk. Quantum annealing is one of several competing approaches; the commercial advantage of annealing vs. gate-based quantum systems remains debated.
- Revenue growth risk. D-Wave’s commercial revenue ramp has been slower than initial projections at the time of SPAC merger.
- Sector volatility. Quantum-sector tickers (QBTS, QUBT, RGTI, IONQ) often trade together; sector-wide selloffs can move QBTS independently of company news.
- SPAC overhang risk. D-Wave came public via SPAC merger; lockup expirations, warrant exercises, and earnout-related share issuance have historically created supply pressure.
QBTS Stock FAQ
What is QBTS stock?
QBTS is the NYSE ticker symbol for D-Wave Quantum Inc — a Palo Alto, California-headquartered quantum-computing company specializing in quantum annealing systems and the Leap cloud platform. Engineering operations are based in Burnaby, British Columbia.
How is D-Wave different from other quantum stocks?
D-Wave is the only commercially-deployed pure-play quantum-annealing company. Quantum annealing differs from gate-based quantum (IBM, Rigetti / RGTI, IonQ) in that it targets optimization problems rather than general-purpose computation. The trade-off: annealing systems can scale to thousands of qubits faster, but the algorithmic scope is narrower.
Is D-Wave Quantum profitable?
D-Wave operates at an early-revenue stage with continued operating losses. Review the company’s most recent 10-Q on SEC EDGAR for current financial status. Early-revenue technology companies with longer commercial histories than peers still carry developer-stage risk profiles.
How does QBTS fit the AI-Power thesis?
Quantum computing is one of several technologies frequently discussed alongside AI infrastructure expansion. Annealing systems in particular have been studied for AI/ML optimization workloads. QBTS’s exposure to the thesis is narrative-driven and via partnership announcements, rather than direct integration with hyperscaler datacenter buildouts.
Does Stock Ships recommend buying QBTS?
No. Stock Ships does not recommend buying, selling, or holding any specific security. This page provides research context — public catalysts, scan profile, risks, and educational background — for traders researching the QBTS / D-Wave Quantum name independently. We are not a registered investment adviser. Always conduct your own due diligence and consult a licensed financial professional.
How do I get real-time alerts on bullish setups?
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Research more AI-Power small-caps
QBTS is one of 25 tickers in our 2026 AI-Power research watchlist — covering nuclear, datacenter, miner pivots, uranium, and semis. Free, educational use only.
📋 25 tickers · 5 sectors · Refreshed monthly
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