- D-Wave third-quarter revenue grew by 51% year-over-year
- D-Wave’s third quarter bookings increased by 53% year-over-year, representing the company’s sixth consecutive quarter of year-over-year booking growth, while the first three quarters bookings increased by 125% when compared to the year earlier period
- CEO Dr. Alan Baratz recently met with Members of Congress to urge them to support the reauthorization of the National Quantum Initiative and ensure that it was expanded to encompass all quantum computing technologies
D-Wave Quantum (NYSE: QBTS), a leader in commercial quantum computing systems, software, and services, recently announced financial results for its fiscal third quarter, which ended September 30, 2023. D-Wave CEO Dr. Alan Baratz believes this is a pivotal moment in quantum computing, as the company leads the industry’s transformative shift from research and developmental experimentation to true delivery of quantum’s enterprise value and utility. “Our annealing quantum computing solutions are driving real business impact today, and we believe that our third quarter results reflect a growing recognition that D-Wave is leading the enterprise quantum wave,” said Baratz (https://ibn.fm/gUqPU).
Notable third-quarter financial highlights for the company include…
Forward Looking Statements
Certain statements in this press release are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. Forward-looking statements in this press release include, but are not limited to, statements regarding the potential for D-Wave to bring the power of quantum to artificial intelligence and machine learning to its customers and the potential impact of the National Quantum Initiative legislation. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management’s control, including whether the initiatives set forth in the NQI are implemented and, if so, the success of such initiatives general economic conditions and other risks; the company’s ability to expand its customer base and the customer adoption of its solutions; risks within D-Wave’s industry, including anticipated trends, growth rates, and challenges for companies engaged in the business of quantum computing and the markets in which they operate; the outcome of any legal proceedings that may be instituted against us; risks related to the performance of the company’s business and the timing of expected business or financial milestones; unanticipated technological or project development challenges, including with respect to the cost and/or timing thereof; the performance of the company’s products; the effects of competition on its business; the risk that D-Wave will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that the company may never achieve or sustain profitability; the risk that the company is unable to secure or protect its intellectual property; volatility in the price of the company’s securities; the risk that its securities will not maintain the listing on the NYSE; and the numerous other factors set forth in D-Wave’s Annual Report on Form 10-K for its fiscal year ended December 31, 2022 and other filings with the Securities and Exchange Commission. Undue reliance should not be placed on the forward-looking statements in this press release in making an investment decision, which are based on information available to D-Wave on the date hereof. D-Wave undertakes no duty to update this information unless required by law.
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