D-Wave Quantum Inc. (QBTS)

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D-Wave Quantum Inc.

QBTS • CIK 0001907982

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Revenue from Contract with Customer, Excluding Assessed Tax	$8,758	$8,827	$24,587	$12,425
Cost of Revenue	$4,136	$3,264	$4,281	$4,450
Gross Profit	$4,622	$5,563	$20,306	$7,975
Operating Income (Loss)	$-80,546	$-77,223	$-100,368	$-170,580
Net Income (Loss) Attributable to Parent	$-82,715	$-143,879	$-355,062	$-248,697
Weighted Average Number of Shares Outstanding, Basic	137,993,736	192,129,049	321,202,025	395,969,574
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$-82,830	$-143,872	$-353,573	$-248,511
Research and Development Expense	$37,878	$35,300	$50,734	$81,784
General and Administrative Expense	$37,014	$32,422	$41,186	$59,741
Selling and Marketing Expense	$10,276	$15,064	$28,754	$37,030
Operating Expenses	$85,168	$82,786	$120,674	$178,555
Investment Income, Interest	—	—	$24,115	$27,518
InterestExpenseNonoperating	—	—	$4,013	$4,095
Gain (Loss) on Investments	—	$1,495	$-159	$1,721
Fair Value Adjustment of Warrants	$-262	$68,245	$270,540	$132,435
Other Nonoperating Income (Expense)	$-916	$4,636	$-4,097	$-6,680
Nonoperating Income (Expense)	$-2,169	$-66,656	$-254,694	$-106,561
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent	$-115	$7	$1,335	$208
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment and Tax	—	—	$154	$-6
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	—	—	$1,489	$186

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash and Cash Equivalents, at Carrying Value	—	$177,980	$635,347	$296,642
Marketable Securities, Current	—	—	$249,134	$249,573
Property, Plant and Equipment, Net	$2,551	$4,133	$7,841	$22,076
Accounts Receivable, after Allowance for Credit Loss, Current	$1,652	$1,420	$1,587	$2,019
Operating Lease, Right-of-Use Asset	$8,223	$7,261	$6,518	$12,042
Inventory, Net	$2,078	$1,686	$2,776	$3,488
Intangible Assets, Net (Excluding Goodwill)	$179	$490	$915	$211,816
Prepaid Expense and Other Assets, Current	$2,009	$3,954	$7,388	$8,872
Other Assets, Noncurrent	$1,357	$2,929	$4,307	$9,314
Assets, Current	$47,046	$185,040	$896,232	$560,594
Assets	$59,356	$199,853	$915,813	$1,158,430
Warrants and Rights Outstanding	$1,630	$69,875	$0	$0
Operating Lease, Liability, Noncurrent	$7,028	$6,389	$6,050	$11,826
Long-term Debt, Excluding Current Maturities	$63,850	$30,128	$35,825	$34,886
Contract with Customer, Liability, Noncurrent	$79	$670	$560	$1,322
Liabilities	$83,837	$137,207	$63,583	$75,320
Accounts Payable, Trade, Current	$1,465	$815	$950	$4,521
Accrued Liabilities, Current	$5,343	$8,784	$15,838	$12,135
Operating Lease, Liability, Current	$1,374	$1,512	$1,448	$1,250
Other Long-term Debt, Current	$399	$348	$134	$146
Contract with Customer, Liability, Current	$2,669	$18,686	$2,778	$9,234
Liabilities, Current	$11,250	$30,145	$21,148	$27,286
Common Stock, Value, Issued	$16	$27	$35	$37
Additional Paid in Capital	$469,081	$700,069	$1,843,218	$2,140,499
Retained Earnings (Accumulated Deficit)	$-483,061	$-626,940	$-982,002	$-1,048,387
Accumulated Other Comprehensive Income (Loss), Net of Tax	$-10,517	$-10,510	$-9,021	$-9,039
Stockholders' Equity Attributable to Parent	$-24,481	$62,646	$852,230	$1,083,110
Accounts Receivable, Allowance for Credit Loss	—	$176	$1	$1
Common Stock, Shares Authorized	675,000,000	675,000,000	675,000,000	675,000,000
Common Stock, Shares, Issued	161,113,744	161,113,744	358,741,605	372,011,420
Common Stock, Shares, Outstanding	161,113,744	266,595,867	358,741,605	372,011,420
Inventory, Raw Materials, Net of Reserves	$2,052	$1,677	$2,746	$3,393
Inventory, Work in Process, Net of Reserves	$26	$9	$30	$95
Interest Receivable	—	—	$3,093	$2,855
Prepaid Insurance	$454	$382	$421	$282
Prepaid Rent	$150	$156	$182	$323
Other Prepaid Expense, Current	$272	$1,594	$804	$1,977
Long-term Investments	$1,168	$2,574	$2,391	$4,232
Debt Issuance Costs, Noncurrent, Net	—	—	$725	$742
Deposits Assets, Noncurrent	$189	$181	$251	$298
Capitalized Contract Cost, Net, Noncurrent	—	$174	$940	$4,042
Equity Securities, FV-NI, Gain (Loss)	—	—	$800	$1,900
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount	—	—	$1,000	$1,000
Financing Receivable, before Allowance for Credit Loss	—	$1,000	$1,000	$1,000
EquitySecuritiesFvNiCurrentAndNoncurrent	—	$0	$0	$0
Marketable Securities	—	$200	$200	$200
Employee-related Liabilities, Current	$2,581	$5,499	$10,348	$7,941
Accrued Professional Fees, Current	$1,092	$529	$4,086	$3,040
Other Accrued Liabilities, Current	$961	$2,756	$1,404	$1,154

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss) Attributable to Parent	$-82,715	$-143,879	$-355,062	$-248,697
Net Cash Provided by (Used in) Operating Activities	$-60,649	$-42,643	$-71,982	$-110,880
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	$-115	$7	$1,335	$208
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$34,242	$136,673	$457,367	$-522,670
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$41,307	$177,980	$635,347	$669,223
Depreciation, Depletion and Amortization	$1,054	$1,109	$1,563	$9,385
Payments to Acquire Property, Plant, and Equipment	$583	$2,106	$3,862	$8,196
Share-based Payment Arrangement, Noncash Expense	$21,919	$15,661	$22,657	$31,125
Payments to Acquire Marketable Securities	—	—	$247,787	$396,904
Operating Lease, Right-of-Use Asset, Amortization Expense	$791	$823	$743	$1,096
Payments to Acquire Notes Receivable	—	$1,000	$0	$0
Inventory Write-down	$32	$134	$9	$-94
Proceeds, Financing Receivable, Previously Written Off, Recovery	—	—	$959	$0
InterestIncomeOperatingPaidInKind	—	—	$3,947	$5,164
Proceeds from Sale and Maturity of Marketable Securities	—	$254	$0	$147,241
Payments to Develop Software	—	$289	$445	$679
Fair Value Adjustment of Warrants	$-262	$68,245	$270,540	$132,435
Net Cash Provided by (Used in) Investing Activities	$-630	$-3,141	$-251,135	$-511,359
Marketable Securities, Unrealized Gain (Loss)	—	$1,495	$-159	$1,721
Foreign Currency Transaction Gain (Loss), before Tax	$-955	$3,307	$-1,836	$1,902
Other Noncash Expense	—	—	$267	$0
Proceeds from Issuance of Common Stock	—	$44,285	$37,787	$0
Proceeds from Issuance of Warrants	—	—	$202,923	$103,604
Proceeds from Stock Options Exercised	$1,897	$1,347	$11,432	$6,186
Payment, Tax Withholding, Share-based Payment Arrangement	$416	$3,142	$10,259	$11,480
Repayments of Long-term Lines of Credit	—	$30,000	$0	$0
Repayments of Other Long-term Debt	—	$370	$365	$0
Proceeds from Related Party Debt	—	—	$412	$412
Payments of Debt Issuance Costs	—	—	$248	$248
Repayments of Related Party Debt	—	$0	$43	$112
Net Cash Provided by (Used in) Financing Activities	$95,636	$182,450	$779,149	$99,361
Interest Paid, Excluding Capitalized Interest, Operating Activities	—	$5,183	$25	$58
Share-based Payment Arrangement, Amount Capitalized	—	$134	$354	$644
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$88	$796	$0	$6,131
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment and Tax	—	—	$154	$-6
Stock Issued	$0	$377	$0	$282,479
Increase (Decrease) in Accounts Receivable	$818	$-137	$204	$579
Increase (Decrease) in Inventories	$237	$215	$2,398	$4,241
Increase (Decrease) in Prepaid Expense and Other Assets	$-1,636	$1,580	$585	$-328
Increase (Decrease) in Accounts Payable, Trade	$-2,614	$-570	$268	$-1,123
Increase (Decrease) in Accrued Liabilities	$-1,374	$5,520	$6,940	$-126
Increase (Decrease) in Contract with Customer, Liability	$958	$16,608	$-16,018	$4,996
IncreaseDecreaseInOperatingLeaseLiability	$-510	$293	$-745	$-733
Increase (Decrease) in Other Noncurrent Assets	$3	$-669	$1,926	$3,980

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Import this data to Google Sheets with:

=jivedata("QBTS","financials")

Full statements spill as a table. For one cell: =jivedata("QBTS","Revenue") or =jivedata("QBTS","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.