Quantum computing stocks surged in premarket trading Thursday, driven by robust quarterly results from D-Wave Quantum (QBTS, Financial).
D-Wave shares jumped more than 20% after the company reported first-quarter revenue growth exceeding 500% year-over-year. The performance was highlighted by the sale of its first Advantage™ system to a major research institution, alongside the successful commercial rollout of another customer application.
CEO Dr. Alan Baratz described the quarter as “arguably the most significant in D-Wave's history,” citing breakthroughs like demonstrating quantum supremacy over classical computing on practical problems.
The broader quantum sector also saw gains, with IonQ (IONQ, Financial), Quantum Computing (QUBT, Financial), Arqit Quantum (ARQQ, Financial), and Rigetti Computing (RGTI, Financial) each climbing more than 4.5% or more.
D-Wave's results come just a day after IonQ also exceeded first-quarter forecasts, projecting full-year revenue between $75 million and $95 million, slightly below the $85.42 million analyst estimate.
