D-Wave Quantum Stock Rises on Earnings. Why a Revenue Miss Doesn't Seem to Matter. -- Barrons.com

Dow Jones02-26 20:23

By Mackenzie Tatananni

D-Wave Quantum posted fourth-quarter revenue that sharply missed analysts' estimates. Wall Street didn't seem to care.

For the fourth quarter, the quantum-computing company reported $2.75 million in revenue, missing analysts' calls for $3.49 million. However, that wasn't what was catching investors' attention as other metrics were more encouraging.

The company cut back on its losses in the quarter. D-Wave's loss from operations came to $42.3 million, significantly narrower than the nearly $144 million loss the company logged in the fourth quarter of 2024. The company's adjusted net loss shrank to $31.8 million from $75.6 million last year.

Bookings also were strong. D-Wave closed $13.4 million in bookings for the fourth quarter, a 471% sequential increase. The metric, which represents customer orders that are expected to generate revenue in the future, includes a booking of 10 million euros for 50% capacity of a computer to support the development of a research facility in Lombardy, Italy.

Shares climbed 5.2% to $20.64 in premarket trading Thursday. Peers Rigetti Computing and IonQ -- the latter reported earnings late Wednesday -- were up 6.1% and 13%, respectively.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

February 26, 2026 07:23 ET (12:23 GMT)

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Wall Street didn't seem to care. \n\n\n  For the fourth quarter, the quantum-computing company reported $2.75 million in revenue, missing analysts' calls for $3.49 million. However, that wasn't what was catching investors' attention as other metrics were more encouraging. \n\n\n  The company cut back on its losses in the quarter. D-Wave's loss from operations came to $42.3 million, significantly narrower than the nearly $144 million loss the company logged in the fourth quarter of 2024. The company's adjusted net loss shrank to $31.8 million from $75.6 million last year. \n\n\n  Bookings also were strong. D-Wave closed $13.4 million in bookings for the fourth quarter, a 471% sequential increase. The metric, which represents customer orders that are expected to generate revenue in the future, includes a booking of 10 million euros for 50% capacity of a computer to support the development of a research facility in Lombardy, Italy. \n\n\n  Shares climbed 5.2% to $20.64 in premarket trading Thursday. Peers Rigetti Computing and IonQ -- the latter reported earnings late Wednesday -- were up 6.1% and 13%, respectively. \n\n\n  Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com \n\n\n   This content was created by Barron's, which is operated by Dow Jones & Co. 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