D-Wave Quantum Inc. (QBTS) Earnings History
Annual and quarterly earnings data from 2020 to 2025
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QBTS EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
QBTS Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 82.6% | -408.2% | -1444.1% |
| 2024 | 63.0% | -874.8% | -1630.0% |
| 2023 | 52.8% | -919.7% | -944.5% |
| 2022 | 59.2% | -828.9% | -748.7% |
| 2021 | 72.1% | -620.3% | -652.5% |
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D-Wave Quantum Inc. (QBTS) Earnings Overview
As of May 8, 2026, D-Wave Quantum Inc. (QBTS) reported trailing twelve-month net income of -$355M, reflecting -48.0% year-over-year growth. The company earned $-1.01 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 (-$216M net income, -3050.4% margin), QUBT (-$19M 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% |
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Start ComparisonQBTS — Frequently Asked Questions
Quick answers to the most common questions about buying QBTS stock.
Is QBTS growing earnings?
QBTS EPS fell to $-1.01, with earnings declining -48.0%. This contrasts with the 5-year CAGR of N/A. TTM net income dropped to $-355M.
What are QBTS's profit margins?
D-Wave Quantum Inc. net margin is -1444.1%, with operating margin at -408.2%. Below-average margins reflect competitive or cost pressures.
How consistent are QBTS's earnings?
QBTS earnings data spans 2020-2025. The declining earnings trend is -48.0% YoY. Historical data enables comparison across business cycles.