D-Wave Reports Q3 2026 Revenue Growth and Massive Increase in Bookings
D-Wave (QBTS) reported third-quarter 2026 revenue of $4.5 million, a 21% year-over-year increase driven by growth in subscription services and professional engagements. The company saw a massive surge in nine-month bookings, reaching $37.4 million—a 611% increase compared to the previous year—largely fueled by a significant system sale to Florida Atlantic University. Despite top-line growth, D-Wave reported a net loss of $48.2 million and an adjusted EBITDA loss that widened to $37.7 million as the company invests heavily in product development and go-to-market initiatives. The company's cash position decreased by 40% year-over-year following the acquisition of Quantum Circuits, though it secured up to $100 million in funding through a U.S. Department of Commerce agreement under the CHIPS Act.
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Topics: bookings increase gross margin net loss revenue growth subscription revenue