D-Wave Quantum Earnings Miss As Bookings Boom

Live updates

1. 25m ago

   D-Wave Q3 revenue beats but wider loss and bookings drop sink shares

   D-Wave Quantum reported third-quarter 2026 results showing revenue above expectations while its operating loss widened and bookings fell 19% from the prior quarter. The stock dropped between 7% and 8.6% across trading sessions as investors focused on the cash-burn trajectory and commercial growing pains. Multiple brokerages cut price targets yet largely maintained buy ratings. Separately, the company secured up to $100 million in CHIPS Act funding for domestic quantum manufacturing, and a securities class-action suit has been filed.

   Why it matters

   Quantum computing pure-plays are under pressure to prove commercial viability before capital runs thin. D-Wave's results highlight the tension between top-line growth and the deep losses needed to build annealing systems at scale. The CHIPS Act award provides a non-dilutive runway boost, while the class action adds legal overhang. Peer moves, Rigetti down, IonQ steady, show the market differentiating execution risk across architectures.

   What is confirmed

   • D-Wave reported Q3 2026 revenue that beat consensus estimates while posting a wider-than-expected operating loss.
   • Quarterly bookings dropped 19% sequentially.
   • Shares fell between 7% and 8.6% following the results.
   • Multiple brokerages reduced price targets but kept buy-equivalent ratings.
   • D-Wave secured up to $100 million from the U.S. CHIPS Act for quantum hardware manufacturing.
   • A securities class-action lawsuit has been filed against the company.

   Still unconfirmed

   • A major investment bank expects D-Wave shares to quadruple despite a 60% year-to-date decline.

   What to watch next

   • Next quarterly bookings trend and cash-burn rate
   • Progress on CHIPS Act fund disbursement and manufacturing milestones
   • Developments in the securities class-action case
   Sources used for this update (17)

   1. finance.yahoo.com — Yahoo Finance - Stock Market Live, Quotes, Business & Finance News
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   4. www.wallstreetzen.com — Sandisk Stock Price Today (NASDAQ: SNDK) Quote, Market Cap, Chart
   5. tvlineups.com — Today Show on NBC Guests & Weekly Episode Schedule 2026
   6. Investor's Business Daily — D-Wave Quantum Earnings Miss As Bookings Boom
   7. Barron's — D-Wave Stock Sinks as Earnings Lay Bare Quantum’s Commercial Growing Pains
   8. Yahoo Finance — D-Wave Reports Third Quarter 2026 Results
   9. The Motley Fool — D-Wave (QBTS) Q3 2026 Earnings Call Transcript
   10. 24/7 Wall St. — D-Wave Quantum Falls 7% on Wider-Than-Expected Loss Despite Revenue Beat; Rigetti Slides 3%, IonQ Holds Steady
   11. Yahoo Finance — D-Wave and Rigetti Are Down Big This Year. Their Q3 Reports Must Answer the Cash Burn Question
   12. TIKR.com — D-Wave Soars 14% in a Week, Rigetti Up 22%, IonQ Up 25% on IonQ’s Raised Guidance
   confidence 86%