D-Wave Q2 FY26 net loss narrows 71.31% to $48 million; revenue flat at $3.1 million - QBTS News | RalliesD-Wave Q2 FY26 net loss narrows 71.31% to $48 million; revenue flat at $3.1 million
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QBTS• Balance sheet and backlog
- Remaining performance obligations climbed to $40.7 million, up 668% year over year.
- Cash and marketable investment securities totaled $546.2 million.
Quarterly results and bookings
- D-Wave posted Q2 revenue of $3.1 million, flat year over year.
- Net loss narrowed to $48 million, or $0.13 per share.
- GAAP operating expenses jumped 93% to $55 million.
- GAAP gross margin fell 8.4 percentage points to 55.4%.
- Q2 bookings rose 59% to $2.1 million.
- First-half bookings totaled $35.5 million, up more than 1,120% year over year, including a $20 million system sale.
Management commentary and roadmap
- CEO Alan Baratz cited stronger bookings momentum, peer-reviewed validation of the company’s dual-rail architecture, and IDC “Leader” recognition.
- The company said its roadmap targets a 20,000-qubit Advantage3 in 2029.
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