D-Wave Quantum Inc (MEX:QBTS)

Q1 2025 D-Wave Quantum Inc Earnings Call Transcript

May 8, 2025 / 12:00 PM GMT

Transcript 10-Q8-K

Key Points

Positve

D-Wave Quantum Inc (QBTS) reported record quarterly revenue of $15 million, a significant increase from the previous year.
The company achieved a milestone by demonstrating quantum supremacy on a real-world problem, outperforming classical computing.
D-Wave Quantum Inc (QBTS) has a strong cash position with $304 million, which is expected to support the company in reaching profitability.
The company has expanded its customer base, including notable partnerships with Ford AutoSon and Japan Tobacco for production applications.
D-Wave Quantum Inc (QBTS) introduced new hybrid quantum solver capabilities, enhancing its quantum optimization offerings and expanding use cases.

Negative

Bookings for the first quarter decreased by 64% compared to the previous year, indicating potential challenges in securing new contracts.
The company reported a net loss of $5.4 million for the quarter, although this was an improvement from the previous year.
There is a strong gate model bias in the US government, which may hinder D-Wave Quantum Inc (QBTS)'s efforts to sell systems domestically.
The transition from proof of concept to production for customer applications can be time-consuming, potentially delaying revenue realization.
D-Wave Quantum Inc (QBTS) has not yet achieved error correction capabilities for gate model quantum computers, which could impact future competitiveness.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

QBTS.N - D-Wave Quantum Inc
Q1 2025 D-Wave Quantum Inc Earnings Call
May 08, 2025 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Morning everyone, and welcome to D Wave's first quarter of fiscal year 2025 earnings conference call. Today's call is being recorded. At this time I'd like to turn the floor over to Kevin Hunt of the Investor Relations. Please go ahead.

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Unidentified_2 [2]
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Thank you and good morning. With me today are Dr. Alan Barrett, our Chief Executive Officer, and John Harkovich, our Chief Financial Officer.

Before we begin, I'd like to remind everyone that this call may contain forward-looking statements. It should be considered in.

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