Stock Track | D-Wave Quantum Plummets 10.32% Intraday on Disappointing Q1 Earnings, Revenue Miss

Stock Track05-13

D-Wave Quantum Inc. (QBTS) shares plummeted 10.32% during intraday trading on Tuesday, as investors reacted negatively to the company's first-quarter 2026 financial results.

The quantum computing company reported revenue of $2.9 million for the quarter, representing an 81% decline from the same period last year and missing analyst estimates of $4.14 million. The company attributed the sharp revenue drop to the absence of a large, one-time annealing quantum computer system sale that was recognized in the prior-year quarter.

D-Wave's net loss widened to $18.4 million, or $0.05 per share, compared to a net loss of $5.4 million, or $0.02 per share, in the year-ago period. The increased loss stemmed from higher operating expenses and lower gross profit, with operating expenses rising due to costs related to the acquisition of Quantum Circuits and increased investments in product development and go-to-market initiatives.

While the company highlighted a nearly 2,000% year-over-year surge in bookings to $33.4 million, driven by a $20 million system purchase by Florida Atlantic University and a $10 million enterprise service agreement, investors focused on the weak top-line performance and expanding losses during the trading session.

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