D-Wave Quantum Q1 Revenues Miss by $1.34M, Bookings Hit $33.4M
D-Wave Quantum posted Q1 revenue of $2.86M, an 81% year-over-year decline versus a $4.2M forecast, while bookings reached $33.4M. Shares slid 3.1% on the miss, and options activity spiked with 10,000 calls traded in the first hour, double the average volume.
1. Q1 Financial Results
D-Wave Quantum reported first-quarter revenue of $2.86 million, an 81% decline from year-ago levels and below the $4.2 million consensus, while delivering a loss of $0.05 per share against a $0.08 estimate.
2. Bookings Growth
The company recorded $33.4 million in Q1 bookings, marking year-over-year growth that underscores sustained demand for quantum computing systems despite weak sales.
3. Stock and Technical Reaction
Shares fell 3.1% post-earnings, testing the 320-day moving average, with the stock down 11% year-to-date yet still up 116% over the past 12 months.
4. Options Trading Activity
Options traders showed optimism, executing 10,000 call contracts in the opening hour—twice the average volume—led by May 25 calls and near-the-money strike series.