D-Wave Quantum (QBTS): Future Prospects and Stock Price Outlook

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Introduction.

D Wave Quantum (QBTS) is an advanced technology company from Canada that was the first in the world to commercialize a quantum annealing quantum computer.
The company has long been a leader in research and development in the field of quantum computation, and is still working with companies and government agencies to implement next-generation computing technology in society.

This article delves into D-Wave Quantum's (QBTS) company profile, core technologies, competitive analysis, industry trends, and prospects.

What is D-Wave Quantum (QBTS) and what is its business?

D-Wave Quantum Inc,First company in the world to commercialize quantum annealing technologyand still has a high technological position as a leading company in the field.
Founded in 2000 in British Columbia, Canada, the company has since focused on research and development of quantum computing technologies for more than 20 years.

The company's mission is to "provideTo commercialize quantum computation in a form that can be used to solve real-world problems.The "D-Wave" is the first of its kind in the world. While the general-purpose "gated quantum computer" is still in the theoretical and experimental stages, D-Wave has developed a specialized quantum computer for optimization problems.Quantum annealing method" has already achieved commercial use.The fact that the company is doing so is noteworthy.

The main target markets are industrial areas that require large-scale computational processing, such as supply chain optimization, financial risk assessment, machine learning, and materials science.
In particular, the company has a track record of partnerships with cutting-edge companies and research institutions such as the National Aeronautics and Space Administration (NASA), Lockheed Martin, and Google, and is working to develop realistic applications.

The company's quantum computer is alsoAccessible via cloudand provides an environment that can be easily used by developers from other companies through APIs and SDKs. This cloud-based quantum computation platform is seen as the key to future revenue growth.

Company information for D-Wave Quantum (QBTS) is below.

• Company Name:: D-Wave Quantum Inc.
• Year EstablishedYear: 2000
• Head Office LocationBurnaby, British Columbia, Canada
• representativeAlan Baratz, CEO
• Official Site:https://www.dwavesys.com
• Main BusinessesDevelopment and provision of quantum annealing computers, cloud-based quantum services, and development of quantum software tools

What are the main products of D-Wave Quantum (QBTS)?

D Wave Quantum's (QBTS) core services are as follows
The greatest feature is,Hardware specialized for quantum annealing methods and a suite of cloud-based services that make them available to everyoneThe first is.

Quantum computer mainframe: Advantage system

Summary

The fifth generation quantum annealing machine developed and provided by D-Wave, "AdvantageThe ",Equipped with more than 5000 qubitsThe new system achieves significant scalability and accuracy improvements compared to conventional systems.

[Main features

• Over 5000 qubits on board
  High connectivity with Pegasus topology
• Capable of handling 40 times more complex problems than the previous generation (2000Q)
• Specializes in optimization problems, scheduling, allocation problems, etc.

Cloud Platform: Leap

Summary

."Leap.made Advantage available via the cloud.D-Wave's Quantum Cloud Serviceand allows developers around the world to access quantum computing resources in real time.

Main functions

• Direct access to quantum computation via browser
• Python SDK (Ocean Toolkit) development support
• Extensive templates for combinatorial optimization problems
• Can be embedded in enterprise applications via API
• Flexible fee structure in the cloud (free quota available)

Developer Tools: Ocean SDK

Summary

Ocean to take advantage of D-Wave's quantum machinesOpen Source Python Librariesand supports the entire process from definition, solution acquisition, and visualization of optimization problems.

Main Modules

• DQM (Discrete Quantum Model)Categorical variables can be handled.
• dimodProblem definition standardization tool
• hybridHybrid Quantum-Classical Computational Models

Enterprise Support Program: D-Wave Launch

Summary

."D-Wave Launchwill support the introduction of quantum computing for enterprise customers.Consulting + PoC (Proof of Concept) Support ProgramThe first is.

[Main contents

• Assessment of applicability of optimization to business issues
• Design and implementation support for pilot projects
• Development and implementation support of deployment plans for actual operations

Through these product lines, D-Wave has developed a "D-WaveElevating quantum computing to a technology that can be used in real-world businessThe company is promoting its vision of The presence of Leap and Launch, in particular, has been the company's strength in terms of commercialization.

What is the business model of D-Wave Quantum (QBTS)?

D Wave Quantum's (QBTS) business model, while having quantum computing technology at its core,Multi-tiered revenue structure and continuity of offeringsIt is composed of
The following is a breakdown by major revenue source.

Cloud-based quantum computing service (Leap platform)

D-Wave quantum computers do not sell the physical device itself,Subscription model for use via the cloudThe company has adopted the
Through the Leap platform, customers can access quantum computing resources on a monthly or time-of-use basis.

• There are multiple tiers of pricing plans, from free slots to enterprise.
• On an ongoing billing basis,High sales stability
• Easy initial implementation for developers and start-ups

Quantum technology introduction support and consulting (D-Wave Launch)

D-Wave Launch helps companies bring quantum computation to real-world businessfee-based support servicesThe first is.
Along with consulting revenue, the company secures revenue from the initial stage of implementation by providing technology and system construction support during the PoC (Proof of Concept) phase.

• Verify the applicability of quantum technology to customer issues
• If successful, the company will move to the use of cloud services,Maximize LTV (customer lifetime value)
• Especially finance, manufacturing, and logistics are the main target industries.

Software Development Kit and API Revenue

Ocean SDK and various APIs are provided as open source, but for some commercial use, support and dedicated infrastructure environments.Monetization through enterprise contractsis possible.
Targeted at companies that want to link their apps to quantum computation via API.

• Licensing model for commercial use of developer tools
• Charging system based on API usageand scalable

Contracts with government and research institutions

D-Wave is a leading provider of services to government agencies, universities, and research facilities in the U.S. and Canada.Public Sector Alliances and Joint Research AgreementsThe company also receives stable revenues from
The joint project with NASA, Lawrence Berkeley Lab, and Lockheed Martin is particularly symbolic.

• Government projects tend to be medium- to long-term contracts,Large revenue sources on a budget basis
• Wide range of services from basic research to applied research in quantum technology

Characteristics of customer base and transaction type

• customer baseFocus: Large companies, medium-sized companies oriented toward advanced technology, and government and research institutions
• contract typeThree types of contracts: Subscription, project-based (PoC), and partner contracts
• continuityBilling plans and implementation support are linked,Once introduced, churn rates tend to be low

Thus, D-Wave Quantum's business model is designed to both "democratize quantum technology and diversify revenues," and has a structure that can flexibly accommodate future expansion of commercialization.

Can D-Wave Quantum's management and technical team be trusted?

The D-Wave Quantum (QBTS) is,A company that has been involved in research and commercialization of quantum computing for over 20 years since its early daysand its progress has been supported by a proven management team and a world-class technical team.
Below is a summary of the characteristics of the management and technical organizations and their reliability.

CEO: Alan Baratz (Alan Baratz)

Alan Balazs will serve as CEO of D-Wave beginning in 2019.
He is a veteran Silicon Valley executive and formerFirst General Manager of the Java Software Division at Sun Microsystems (developer of the Java platform)He has served as the

• Also held key positions at major companies such as VMware and Avaya
• Technology-savvy "technology leader-type CEOs"
• D-Wave Leads Strategy to Balance Quantum Technology and Business Development

Mr. Balazs's greatest strength is his ability toManagement skills to lead research-driven quantum companies into the commercialization phaseSince his appointment, D-Wave has turned heavily to cloud business (Leap) and implementation support (Launch).

Composition of Board of Directors and Senior Management

For D-Wave's board of directors and senior management,Diverse experts from the fields of physics, quantum information, AI, and commercial strategyThe company is doing so.

• Bo Ewald, former U.S. National Quantum Technology Program official and former president of Cray Inc.
• Jennifer Houston, Corporate Growth Strategies and Capital Markets Specialist
• John Markovich, CFO, experienced in fundraising for technology companies
• Many other senior leaders have backgrounds in quantum physics and quantum software

Quality of technical and research teams

D-Wave's research and development team is,Many Ph.and has deep expertise, especially in the fields of physics, computer science, electrical engineering, and materials science.

• Head office and R&D center in British Columbia, Canada is the center of the company's operations.
• Expanding research and commercial bases in the U.S., U.K., and other countries
• He has an extensive record of conference presentations and paper submissions,High international technical reliability

In addition, D-Wave has been working with MIT, Caltech (California Institute of Technology), UBC (University of British Columbia), and others.Working with leading research institutions to promote technological innovation while maintaining a balance between basic research and applied developmentThe following is a list of the most common problems with the "C" in the "C" column.

In general, D-Wave Quantum's management and technical team,It is a proven and reliable structure in terms of both technology and commercialization.The company's "Quantum Company with a Market Development Perspective," led by CEO Alan Baratz, is what sets it apart from its peers. In particular, the "quantum company with a market development perspective," led by CEO Alan Baratz, is a differentiating factor from other companies in the industry, which tend to be more research-oriented.

News from D-Wave's Science (Science): How did a quantum computer outperform "the world's most powerful supercomputer"?

What kind of news?

November 2024,D-Wave Quantum's quantum annealing machine outperforms classical (conventional) supercomputers in simulating complex magnetic materialsThe results of the project,Published in Science, the world's leading scientific journalThe first time the company was founded, it was a small company.

This is because quantum annealing isResearch results clearly demonstrate for the first time "superiority over conventional calculators" in real scientific problemsIt has attracted a great deal of attention as a

What did you calculate?

D-Wave's research team is,Behavior of a very complex magnetic material called "spin glasswas simulated. This is a state in which atoms and electrons interact in an irregular manner,Very difficult problem, both scientifically and computationally.It is considered to be a

• To use an analogy, it is like calculating how to stabilize tens of thousands of magnets randomly attracting and repelling each other.

Such problems can be applied to physics, materials science, and even to the fields of finance and AI.A kind of combinatorial optimization problemand is extremely difficult to process even with conventional supercomputers.

How did D-Wave's quantum computer compute?

D-Wave's quantum machine is called "quantum annealingThe method called "the optimal solution" is used to find the state where the energy is most stable (i.e., the optimal solution). This approach is like "finding the lowest valley in a smooth mountain terrain.

The study took the following approach

• Spin glass model with thousands of qubits (qubits)
• Statistical analysis of the lowest energy (i.e., physically stable) state after many searches for a solution to the problem
• The same problem is solved in parallel on the world's fastest supercomputer for comparison.

What were the results?

The result,D-Wave's quantum annealing machine was faster and more accurate at finding stable states than the supercomputerIt is now clear that this is the case. This means that quantum annealing is not "just a theory,It means that we have reached a stage where we can use it for complex simulations of the real world.The following is a list of the most common problems with the "C" in the "C" column.

Key points of the study's findings include

• Empirical evidence of "Quantum Advantage
• Excellent performance for "real-world meaningful physical models" rather than theory
• Future applications are expected to include material design, energy efficiency, and even AI training optimization.

What's so great about it? What does it mean to investors?

This study,D-Wave's quantum technology showed the world that it is becoming a "usable technology".This is very significant in terms of the

• Many quantum computers are still in the "versatile but incomplete" stage
• On the other hand, the D-WavePerformance already exceeds that of supercomputers in specific applications
• Increased potential for full-scale introduction of quantum technology into the manufacturing, pharmaceutical, financial, and energy sectors in the future.

For investors, this is also aMilestone that shows "quantum computers are getting closer to practical use."and is material for reassessing the technical superiority and commercial value of D-Wave.

This outcome is not just a research presentation,Symbolic events prove that the future of quantum computation is becoming a realityIt can be said that

What is the trading market?

The D-Wave Quantum (QBTS) is,Listed on NASDAQ in the U.S. through a merger with SPAC (Special Purpose Acquisitions Company) in 2022The ticker symbol is "QBTS". The ticker symbol is "QBTS.

With this listing, D-Wave, like other quantum computer companies such as IonQ and Rigetti,A system to accelerate fundraising and business growth in the public marketThe company is preparing to

What is the history and background of D-Wave Quantum's listing on SPAC?

D-Wave Quantum (QBTS)'s, at the time of listing, merger partner is an SPAC called DPCM Capital, Inc. (ticker: XPOA), and D-Wave will utilize this framework,Raise capital and enter the public market faster and more flexibly than a traditional IPOThe company realized the

Why did you choose SPAC?

The following factors contributed to D-Wave's choice to be listed by SPAC.

• Speed-oriented financingThe SPAC was an attractive option for a tech company like D-Wave, which was looking to grow rapidly.
• Avoiding the influence of market conditions: At the time of 2021-2022, while the overall stock market was unstable due to rising interest rates and inflation fears,Risk of difficulty in obtaining appropriate valuations in a traditional IPOThere was a
• Collaboration with strategic partnersDPCM Capital has a deep understanding of D-Wave's business and has clearly stated that it will support the company's growth from a long-term perspective.More than mere funding, management synergies were also expected.

Valuation at listing and funds raised

The notional enterprise value (pro forma valuation) of the transaction announced at the time of the merger isApproximately $1.2 billion ($1.2B)In addition, with the funds held by SPAC and PIPE (private placement), D-WaveThe company was looking to raise around $300 million.However, the overall SPAC market cooled in 2022, and the final net procurement was reportedly lower than this.

Purpose of listing and future use of funds

It is explained that the funds obtained from the listing will be used for the following purposes

• Improvement of quantum annealing technology and development of the next generation
• Enhanced research on hybrid quantum computation (annealing + gating)
• Global deployment of the Leap cloud platform
• Expansion of sales and implementation support team

D-Wave, backed by the market access and financial strength gained by listing on SPAC,We have established a system to further scale up both technological innovation and commercial expansion.The following is a list of the most common problems with the "C" in the "C" column.
Today, the company continues to maintain relatively stable business operations for a SPAC-listed group,A rare entity that can withstand medium- to long-term evaluation by investorsIt can be said that

What are the sectors, industries, and themes to which D-Wave Quantum (QBTS) belongs?

sector

technologyD Wave Quantum is a provider of optimization computation solutions using quantum annealing technology, and is the "leading provider of quantum annealing technology" in the U.S. stock market sector classification.TechnologyThis falls under the category of "The
In particular, advanced areas such as quantum information processing, cloud quantum infrastructure, and AI integration algorithms are the core technologies and are positioned as the most promising areas in the advanced technology sector.

type of industry

Quantum software and hardware developmentThe company provides quantum annealing machines (hardware) developed in-house and the APIs, SDKs, and cloud environment (software) that enable their use in an integrated manner,As an industry, it is a "quantum computing related development company."classified as follows.
Unlike conventional software companies, the company's key feature is that it builds quantum computing environments through vertical integration of hardware, software, and infrastructure.

Themes belonging to

The investment themes to which D-Wave Quantum belongs are as follows

• Next Generation Computing TechnologyQuantum Annealing: Based on quantum annealing, we provide computing technology that can be used in the logistics, finance, and AI domains. Contributes to solving problems that are difficult to solve with conventional supercomputers.
• quantum cloudThe Leap platform promotes the use of quantum computation in the cloud and creates a new market for quantum SaaS.
• DefenseTech/Government AIThe company has strong ties to national projects such as defense and space exploration, as represented by joint projects with NASA and Lockheed Martin, and is clearly positioned as a security application and strategic technology.
• Deep Tech: In terms of commercialization of advanced technology based on basic science, this is an area that is also attracting attention as a target for investment from a long-term perspective.

D Wave Quantum (QBTS) is more than just an advanced IT company,A rare commercialization of a core technology for the quantum age.The company has attracted the attention of many investors from a long-term perspective as a

Dividends?

The D-Wave Quantum (QBTS) isDividends are not being paid at this time.The main reason for this is the growth phase of the business. The main reason for this is the growth phase of the business,Because all funds are reinvested in R&D and commercialization expansionThe first is.

In particular, deep-tech companies like the company require significant upfront investment in building quantum hardware and cloud infrastructure, supporting PoC for customer development, and developing software ecosystems. Therefore,Management policy emphasizing long-term technological superiority and market share expansion rather than short-term profit returnsThe company has adopted a

Who are the competitors of D-Wave Quantum (QBTS)?

The quantum computing industry, of which D-Wave Quantum (QBTS) is a part, is currently in the very phase of rapid competition and innovation.

Several startups and major IT companies, especially in the U.S., have been competing with each other, and D-Wave is one of them.A company that differentiates itself by leveraging its proprietary technologyThe first is.

The following is a summary of the major competitors.

• IonQ (IonQ, IONQ)Quantum Computing: A publicly traded U.S. quantum computer company that uses ion trapping methods and has partnered with NVIDIA and Microsoft to enhance its quantum computing offerings in the cloud. The company is promoting commercialization in the gated method.
• Rigetti Computing (RGTI): Focusing on gating methods using superconducting qubits. They are also active in small devices and cloud deployment, and are connecting to AWS, Azure, and other services.
• IBM (IBM)Quantum gate method is provided through IBM Quantum, which was developed by the company itself. Strengths include overwhelming research and development capabilities and vertical integration from quantum hardware to software.
• Google (undisclosed)The company is leading the "Sycamore" project, which is believed to be the first in the world to achieve quantum transcendence. Research-oriented, but has high potential for commercial deployment in the future.
• Honeywell/Quantinuum (not disclosed): formed through the merger of Honeywell and Cambridge Quantum. A fusion of software and hardware companies, focusing on applications in quantum cryptography and AI.
• Pacific Northwest National Labs (PNNL) (private): a government-affiliated research institute and leader of national-level projects in quantum technology.
• Northern Data AG, NB2: Provides next generation HPC (High Performance Computing) infrastructure, including quantum computation. Aiming at the boundary area between cloud computing and quantum computing.

Thus, the competitive environment for D-Wave Quantum is diverse and global, each employing different quantum schemes (annealing, gating, ion trapping, etc.).
Differences in technological methods create differences in market positioning and strategy, which is the most important aspect of competitive analysis.The following is a list of the most common problems with the "C" in the "C" column.

What is the size and growth potential of the industry to which D-Wave Quantum (QBTS) belongs?

Although the quantum computing industry in which D-Wave Quantum (QBTS) operates is still in its infancy,Future industries expected to grow rapidly in the next decadeThe following is a summary of the market size, growth rate, future forecasts, and growth drivers by theme. In the following, market size, growth rate, future projections, and growth drivers are organized by theme.

Quantum Computing Market Size and Forecast

The global quantum computing market is expected to reach approximately1 to 1.5 billion dollar scalebut with rapid technological progress and commercialization in the future,Grow to tens of billions of dollars by 2032A number of predictions have been made.

• Market Size ForecastApproximately by 2030: Approximately by 203012.5 to 15 billion U.S. dollarsReached scale (average of multiple survey firms)
• CAGR (compound annual growth rate): In 2023-2030.Approx. 30 to 35

This growth is being fueled by an increasing number of companies using quantum technology via the cloud, increased government-led research investment, and more use cases in the supply chain and financial industry.

Progress in commercialization and expansion of application areas

In the past, quantum computing has been regarded as an "experimental research subject," but in recent years, as D-WaveAlready in commercial deployment for specific applications (optimization, scheduling, etc.)Companies are also emerging.

• Optimization (logistics, manufacturing, finance)
• AI and Machine Learning Acceleration Support
• Materials development, pharmaceutical design simulation
• Cyber Security, Quantum Cryptography

This allows quantum technology toShift from research area to business areaIt is beginning to show significant credibility in market growth.

Key drivers of growth

• Government-sponsored research funding(NQI, USA; Moonshot, Japan; Quantum Flagship, EU, etc.)
• Widespread use of cloud quantum computation(AWS Braket, Azure Quantum, Leap, etc.)
• Accumulation of PoC/Introduction cases by private companies
• Growing demand for integration with AI and Big Data
• Limitations of Conventional Supercomputers and the Dependency Movement

D-Wave Quantum is at the center of these growth factors, especiallyOne of the few companies ahead of the curve in the commercialization phaseThe company has attracted high market expectations as a

What are the differentiating factors and advantages of D-Wave Quantum (QBTS) over the competition?

D Wave Quantum (QBTS) has been working in the fast-growing quantum computing industry forTechnical method, commercialization progress, customer baseThe company has achieved distinctive differentiation in three areas.
In the following, key differentiators.

Technology method: the only commercial company specializing in quantum annealing

The D-Wave is,The only company in the world that specializes in quantum annealing methods and has achieved commercializationThe D-Wave is the first of its kind in the world. While many competitors focus on gated methods (universal quantum computation), D-Wave specializes in realistic optimization problems,Strategies that prioritize technology maturity and commercial applicationsThe company is taking the

• In current quantum technology.Commercial environment with highest execution throughput
• Advanced computational structures with superconducting qubits and proprietary topology (Pegasus)
• Strengths in "types of problems that can be solved" (especially combinatorial optimization)

Progress in commercialization: practicality and abundance of examples of implementation

The D wave isOne of the few quantum companies that already have multiple customers and commercial installations, and are making progress in monetizing their products.In the This is a major differentiator compared to the competition, which is still in the research phase.

• NASA, Lockheed Martin, Volkswagen, and others have already introduced
• D-Wave Launch establishes a support system for corporate introduction
• Accessible from all over the world via quantum cloud "Leap

Customer approach: developer-friendly design with APIs and SDKs

Leap platform and Ocean SDK are,Cloud developers have an environment in place to make quantum computation easier to handle.This is also compatible with AWS and Azure and is directly related to the DX and optimization needs of companies.

• Python-based for easy development and integration into existing workflows
• Seamless integration with in-house applications through the use of APIs
• Supports hybrid computation (classical + quantum) models

Speed and Execution: Leveraging First-mover Advantage

D-Wave was founded in 2000 and has been working in the field of quantum annealing since then.Predecessors with more than 20 years of accumulated experience in research and practical developmentThe first is the "M" in "M". Therefore,Technology perfection, customer acquisition, and speed of product deliveryThe company maintains its superiority in the following areas.

• More than five quantum machine generations have been implemented (the latest being Advantage)
• Barriers to commercial offerings already cleared
• Short timeline from PoC to commercial use and high ROI on the customer side

Thus, the D-Wave Quantum isNot "theoretical possibilities," but "practical quantum computing."The company differs significantly from other companies in that it presents the market with

Against research-driven competition,One of the few players promoting both commercial implementation and profitabilityThe greatest competitive advantage is that it is

Performance of D-Wave Quantum (QBTS)

The financial year of D-Wave Quantum (QBTS) ends on December 31 of each year.
The quarterly schedule of financial results announcements is as follows

• First Quarter Results:Early May
• Second Quarter Financial Results:Early Aug.
• Third Quarter Results:Early Nov.
• Fourth quarter and full year results:Mid-March of the following year

D Wave Quantum (QBTS) Stock Price

View the current real-time stock price chart (TradingView) for D-Wave Quantum (QBTS).

The chart shows the Relative Strength Index (RSI). Reference as an indicator of market overheating.
*An overbought indicator when the RSI exceeds 70% to 80%, and conversely, an oversold indicator when the RSI falls below 20% to 30%.

What is the future outlook for D-Wave Quantum (QBTS) and its stock price?

D Wave Quantum (QBTS) is the quantum computing industry'sOne of the few companies entering the commercialization phaseIt is attracting attention as a

Future Prospects: Establishing the Status of Quantum Annealing and the Milestone toward the Era of Quantum Hybrids

D-Wave's greatest strength is,The fact that quantum annealing technology has been commercialized and is already offered at a commercial levelThe first is in the While many competitors pursue versatility with gating methods, D-Wave has built up a market track record first with technology optimized for specific applications.

• Advantage system continues to be improved and enhanced
• Quantum annealing and gating methodsPlans are underway to develop a hybrid calculator.
• In the long term, we are looking to build a system that can handle "general-purpose quantum computation" as well.

By such a strategy,Aiming to establish a position as a future quantum platform company based on initial market performanceThe following is a list of the most common problems with the "C" in the "C" column.

Turning point toward profitability and financial sustainability

D-Wave is in the quantum computing market.Companies that were among the first to begin monetizing their productsHowever, it is still the case today.operating deficit conditionis continuing.
However, due to factors such asThe tipping point toward profitability is within realistic range.It is considered to be a

• Quantum Cloud "Leap" users and utilization rate on the rise
• Increased enterprise contracts increase profitability per contract.
• R&D cost structure is stabilizing

Also, including funds raised at the time of SPAC listing,Some working capital in the medium term is available.The risk to business continuity is assessed as low unless the external environment deteriorates rapidly.

Diversification of customer base and expansion from PoC to commercialization

The future of the D-Wave is essential to its future,Accumulation of actual customer base and case studiesThe company has already partnered with several global companies and government agencies. The company has already partnered with several global companies and government agencies,Increasing number of projects moving from PoC (proof of concept) to commercial implementationThe following is a list of the most common problems with the "C" in the "C" column.

• Long-term collaborations with NASA, Lockheed Martin, Google, and others
• Focus on industries with high demand for optimization, such as finance, logistics, and manufacturing
• D-Wave Launch's implementation support system has been successful,LTV (customer lifetime value) can be maximized

From now on,Expansion of the ongoing revenue model via cloud API will form the foundation for stable growth.It is seen as a

D Wave Quantum (QBTS) Full Year 2024 Financial Summary

Date of announcement: 25/03/13

Sales and Revenues

• Annual Sales: 8.83 million dollars (almost the same level as the previous year)
• GAAP Gross Profit: 5.56 million (+20% y/y)
• GAAP Gross Margin: 63.01 TP3T (52.81 TP3T in the previous year)
• Non-GAAP gross profit: 6.43 million dollars (+51 TP3T y/y)
• Non-GAAP gross margin: 72.81 TP3T (69.81 TP3T in the previous year)

Operating Expenses and Profits

• GAAP operating expenses: 82.8m (-31 tp3t y/y)
• Non-GAAP operating expenses: 62.4 million dollars (+31 tp3t y/y)
• Adjusted EBITDA loss: 56.0 million dollars (+31 tp3t y/y)
• GAAP net loss: 143.9 million dollars (-61.2 million dollars from the previous year)
• Adjusted net loss: 75.6 million dollars (-7.3 million dollars from the previous year)

Contracts and Orders (Bookings)

• Annual Orders Received: 23.9 million (+128% y/y)
• 4th quarter orders: 18.3 million dollars (+5021 TP3T y/y)
• Number of contracted clients: 135 companies (including 76 commercial customers and 59 government and research institutions)
• Number of Forbes Global 2000 companies: 28 companies (371 TP3T of all commercial customers)

Cash and Financial Position

• Cash balance at the end of 2024: 177.98 million dollars
• Cash as of March 2025: Over $300 million
• Raised $161.3 million in ATM and ELOC in Q4, paid off $50 million in interest-bearing debt

Technology and Business Highlights

• Demonstration of quantum transcendence: Advantage2 outperforms classical supercomputers on practical materials simulation problems (published in Science)
• First on-premise implementation: To be purchased by Jülich Supercomputing Center and linked to JUPITER supercomputer
• Quantum Uplift program started: Offers incentives to promote D-Wave adoption for companies disappointed by competition
• Advantage2 quantum processor development: 4,400 qubits for improved performance and connectivity
• Increased commercial use cases: Japan Tobacco, Unipol Insurance, North Wales Police, etc.

2025 Q1 Guidance

• Sales Forecast: Over $10 million (including proceeds from the sale of quantum calculators)

D-Wave achieved significant technical and commercial progress in 2024. With the demonstration of quantum transcendence, expanded deals with commercial customers, and a stable financial base, the company is on a clear trajectory for commercial expansion and growth beyond 2025.

The company is clearly focused on full-scale development of quantum AI and optimization solutions by leveraging its competitive advantage in specializing in annealing methods.

summary

The D-Wave Quantum (QBTS) is,A very unique quantum computing company that pioneered the world's first commercialization of a proprietary technology called quantum annealingIt is.

Through the quantum cloud "Leap" and the implementation support program "D-Wave Launch," the company offers practical quantum solutions that go beyond the theoretical, which is a major advantage over other competitors.

Although the company has yet to turn a profit in terms of performance,Increase number of customers, stabilize revenue structure, expand cloud usageand we feel that the medium-term growth potential is very high.

In addition, as the quantum industry as a whole grows in the future, D-Wave's technological presence is expected to increase further.

Personally, I will continue to keep an eye on D-Wave as a "pioneer in the practical phase" of the quantum computing field.