D-Wave has one of the clearest customer-demand signals in quantum after record bookings, but the Q1 revenue base remained small and losses expanded.
References
Sources used in this report
Government announcementDepartment of Commerce Announces Letters of Intent With 9 Companies for $2 Billion to Accelerate U.S. Leadership in Quantum Computing2026-05-21 · Common source for the quantum funding package and QBTS planned funding.Company releaseD-Wave Quantum and Department of Commerce Sign Letter of Intent for $100 Million in CHIPS and Science Act Funding2026-05-21 · Primary source for the $100M LOI, equity stake, and D-Wave roadmap focus.Company releaseD-Wave Reports First Quarter 2026 Results2026-05-12 · Primary source for bookings, revenue, RPO, cash, losses, customers, and Quantum Circuits acquisition commentary.