D-Wave Quantum Inc. (QBTS) Earnings History
Net Loss6 years of earnings data (2020–2025) · Currently unprofitable on a TTM basis
Loading earnings history...
D-Wave Quantum Inc. (QBTS) Earnings Overview
As of June 23, 2026, D-Wave Quantum Inc. (QBTS) reported trailing twelve-month net income of -$368M, reflecting -48.0% year-over-year growth. The company earned $-1.00 per diluted share over the past four quarters, with a net profit margin of -1444.1%.
Looking at the long-term picture, QBTS's historical earnings data spans multiple years. The company achieved its highest annual net income of -$22M in fiscal 2020.
D-Wave Quantum Inc. is currently reporting a net loss, though operating performance should be evaluated in the context of growth investments and industry dynamics View revenue history →
Compared to peers including IONQ ($277M net income, -392.6% margin), RGTI (-$226M net income, -3050.4% margin), QUBT (-$40M net income, -2738.1% margin), QBTS has room to improve margins relative to the peer group. Compare QBTS vs IONQ →
QBTS Earnings vs Peers
Earnings metrics vs comparable public companies
QBTS Historical Earnings Data (2020–2025)
6 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | -$355M | -146.8% | -$100M | $-1.11 | -1444.1% | -408.2% |
| 2024 | -$144M | -73.9% | -$77M | $-0.75 | -1630.0% | -874.8% |
| 2023 | -$83M | -54.0% | -$81M | $-0.60 | -944.5% | -919.7% |
| 2022 | -$54M | -31.1% | -$59M | $-0.45 | -748.7% | -828.9% |
| 2021 | -$41M | -86.5% | -$39M | $-0.33 | -652.5% | -620.3% |
| 2020 | -$22M | - | -$31M | $-0.20 | -425.7% | -609.8% |
Download Data
Export QBTS earnings history in CSV or JSON format
Free sign-in required to download data
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
6+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
QBTS — Frequently Asked Questions
Quick answers to the most common questions about buying QBTS stock.
What is QBTS earnings per share (EPS)?
QBTS trailing twelve-month (TTM) diluted EPS is $-1.00, reflecting -48.0% year-over-year growth. The 5-year EPS CAGR is N/A. Complete EPS history from 2020 to 2025 is available in the table on this page.
What is D-Wave Quantum Inc.'s net income?
D-Wave Quantum Inc. (QBTS) trailing twelve-month net income is $-368M as of 2025. Earnings declined -48.0% year-over-year.
Is QBTS profitable?
QBTS is not currently profitable on a TTM basis, reporting a net loss of $-368M. Net margin is -1444.1%. Investors should monitor for a return to profitability.
What is QBTS's earnings growth rate?
QBTS compound annual EPS growth rates (CAGR): 1-Year: N/A, 3-Year: N/A, 5-Year: N/A, 10-Year: N/A. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 2020 to 2025.
What are QBTS's profit margins?
D-Wave Quantum Inc. net profit margin is -1444.1%, operating margin is -408.2%, and gross margin is +82.6%. Below-average margins reflect competitive or cost pressures. Return on Equity is -77.6%.
Is QBTS growing earnings?
QBTS earnings are declining — EPS fell -48.0% year-over-year. TTM net income dropped to $-368M. This contrasts with the 5-year CAGR of N/A.
What was QBTS's best earnings year?
D-Wave Quantum Inc.'s highest annual net income on record is $-22M, achieved in fiscal year 2020. Earnings history on this page spans 2020 to 2025 and includes all annual and quarterly figures.
What were QBTS's earnings last quarter?
QBTS's most recent reported quarter was Q1 2026. Net income was $-18M with diluted EPS of $-0.05. For a full breakdown of all quarters, see the quarterly earnings table on this page.