D-Wave Quantum Inc. (QBTS) quarterly cash flow statement — complete operating, investing & financing history
D-Wave Quantum Inc. (QBTS) cash flow statement — 6-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | -28.5M | -44.96M | -18.37M | -19.05M | -15.29M | -19.28M | 2.02M | -18.07M | -14.47M | -12.12M | -14.74M | -16.87M | -15.47M | -13.57M | -10.96M | -12.84M | -11.99M | -9.51M | -7.18M | -7.35M |
| Operating CF Margin % | -926.63% | -1573.13% | -667.59% | -509.36% | -493.89% | -128.52% | 87.35% | -966.47% | -662.76% | -491.64% | -507.19% | -658.31% | -906.27% | -857.49% | -457.45% | -757.52% | -874.54% | -555.11% | -296.17% | -562.13% |
| Operating CF Growth % | -86.46% | -133.21% | -1010.86% | -5.38% | -5.65% | -59.08% | 113.68% | -7.16% | 6.48% | 10.72% | -34.53% | -31.36% | -29.02% | -42.75% | -52.48% | -74.77% | -31.48% | 14.71% | - | - |
| Net Income | -48.03M | -18.36M | -42.33M | -139.99M | -167.33M | -5.42M | -86.08M | -22.71M | -17.78M | -17.31M | -16.38M | -16.11M | -26.19M | -24.41M | -13.66M | -11.81M | -12.56M | -11.55M | -13.84M | -4.21M |
| Depreciation & Amortization | 4.73M | 3.8M | 678K | 568K | 507K | 553K | 574K | 450K | 480K | 428K | 444K | 383K | 473K | 545K | 705K | 367K | 525K | 639K | 703K | 655K |
| Stock-Based Compensation | 11.11M | 8.02M | 5.54M | 6.46M | 6.67M | 3.99M | 3.88M | 4.05M | 4.22M | 3.51M | 4.56M | 5.88M | 4.72M | 6.75M | 5.47M | 1.75M | 817K | 783K | 1.18M | 225K |
| Deferred Taxes | 0 | -28.36M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 3.45M | 108K | 32.03M | 99.62M | 144.15M | -3.39M | 65.73M | -1.92M | -925K | -108K | -90K | -2.73M | 4.54M | -359K | -8.36M | -3.35M | 74K | 948K | 3.79M | -10.87M |
| Working Capital Changes | 230K | -10.17M | -14.3M | 14.3M | 715K | -15.01M | 17.91M | 2.05M | -466K | 1.36M | -3.27M | -4.3M | 983K | 3.89M | 4.89M | 200K | -849K | -326K | 975K | 6.85M |
| Change in Receivables | 6.89M | -7.32M | 335K | -482K | -417K | 360K | 15K | 113K | 51K | -42K | -561K | 47K | -255K | 215K | 736K | 1.72M | 55K | -321K | 13.11M | -5.24M |
| Change in Inventory | -1.13M | -1.48M | -968K | -668K | -746K | -16K | 83K | -151K | -128K | -19K | -2K | -154K | -22K | -59K | 536K | -383K | -96K | -205K | 211K | -68K |
| Change in Payables | 25K | -1M | 65K | -213K | 187K | 229K | 252K | -320K | 36K | -538K | -347K | -2.6M | -1.52M | 1.86M | 2.55M | 750K | 259K | -395K | 702K | 683K |
| Cash from Investing | -8.52M | -252.06M | -249.57M | -1.21M | 141K | -498K | -963K | -369K | -604K | -1.21M | -454K | -97K | -3K | -76K | -182K | -98K | -74K | -144K | -292K | -442K |
| Capital Expenditures | -4.44M | -1.08M | -1.66M | -1.02M | -749K | -438K | -950K | -306K | -545K | -305K | -442K | -62K | -15K | -64K | -174K | -74K | -52K | -123K | -281K | -424K |
| CapEx % of Revenue | 144.34% | 37.82% | 60.28% | 27.17% | 24.2% | 2.92% | 41.14% | 16.36% | 24.97% | 12.37% | 15.21% | 2.42% | 0.88% | 4.04% | 7.27% | 4.37% | 3.79% | 7.18% | 11.58% | 32.44% |
| Acquisitions | -2M | -250.82M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -200K | -163K | -122K | -194K | 890K | -60K | -13K | -63K | -59K | -154K | -12K | -35K | 12K | -12K | -8K | -24K | -22K | -21K | -11K | -18K |
| Cash from Financing | -4.68M | -143K | 67.11M | 37.08M | 529.35M | 145.62M | 147.56M | 7.01M | 28.61M | -726K | 3.23M | 62.75M | 14.06M | 15.59M | 4.37M | 16.2M | 4.89M | 17.87M | 8.92M | 2.86M |
| Debt Issued (Net) | -35K | -34K | -43K | 412K | -365K | 0 | -13.6M | -16.4M | -370K | 0 | -1.87M | 16.09M | 13.4M | -881K | -1.38M | -19.97M | 4.76M | 14.69M | 103K | -24K |
| Equity Issued (Net) | -4.64M | -109K | 67.42M | 41.23M | 527.74M | 146.11M | 161.32M | 23.49M | 29.39M | 8K | -273K | 45.66M | 15.14M | 546K | 1.02M | 0 | 0 | 7K | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -6.89M | -203K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | -273K | -4.57M | 1.98M | -488K | -156K | -78K | -411K | -734K | 5.37M | 993K | -14.47M | 15.93M | 4.73M | 36.18M | 134K | 3.18M | 8.82M | 2.89M |
| Net Change in Cash | -41.55M | -297.15M | -200.88M | 16.92M | 514.99M | 126.34M | 148.71M | -11.59M | 13.56M | -14M | -12.01M | 45.8M | -1.47M | 1.92M | -6.7M | 3.3M | -7.2M | 8.18M | 1.44M | -5.15M |
| Free Cash Flow | -32.94M | -46.04M | -20.03M | -20.06M | -16.04M | -19.72M | 1.05M | -18.44M | -15.07M | -12.58M | -15.19M | -16.96M | -15.47M | -13.65M | -11.14M | -12.94M | -12.06M | -9.65M | -7.48M | -7.79M |
| FCF Margin % | -1070.97% | -1610.95% | -727.87% | -536.53% | -518.09% | -131.44% | 45.65% | -986.2% | -690.43% | -510.26% | -522.81% | -662.1% | -906.44% | -862.29% | -465.05% | -763.3% | -879.94% | -563.51% | -308.2% | -595.94% |
| FCF Growth % | -105.44% | -133.51% | -2000.47% | -8.78% | -6.39% | -56.76% | 106.94% | -8.72% | 2.59% | 7.85% | -36.41% | -31.11% | -28.26% | -41.41% | -48.96% | -66.11% | -25.08% | 18.8% | - | - |
| FCF per Share | -0.09 | -0.13 | -0.06 | -0.06 | -0.05 | -0.07 | 0.00 | -0.09 | -0.09 | -0.08 | -0.10 | -0.13 | -0.12 | -0.11 | -0.09 | -0.11 | -0.11 | -0.09 | -0.06 | -0.07 |
| FCF Conversion (FCF/Net Income) | 0.59x | 2.45x | 0.43x | 0.14x | 0.09x | 3.56x | -0.02x | 0.80x | 0.81x | 0.70x | 0.90x | 1.05x | 0.59x | 0.56x | 0.80x | 1.10x | 0.98x | 0.82x | 0.52x | 1.75x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |