QBTS (D-Wave Quantum) Research & Development: $66.24 Mil (TTM As of Mar. 2026)


QBTS D-Wave Quantum Inc QBTS
64 GF Score
Price $22.76
GF Value $2.45
Valuation Significantly Overvalued
! 4 Warning Signs
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What is D-Wave Quantum Research & Development?

D-Wave Quantum QBTS +3.88% 64 Research & Development is $66.24 Mil as of Mar. 2026. GuruFocus rates QBTS with a GF Score™ of 64/100 and a GF Value™ of $2.45 (Significantly Overvalued). The stock has 4 warning signs investors should review.

Research & Development is the aggregate amount of research and development expenses during the year. D-Wave Quantum's Research & Development for the three months ended in Mar. 2026 was $25.79 Mil. Its Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 was $66.24 Mil.

D-Wave Quantum  (NYSE:QBTS) Research & Development Explanation

If competitive advantage is created by a patent or tech advantage, at some point it will disappear.

High R&D usually dictates high SG&A which threatens the competitive advantage.

D-Wave Quantum Research & Development Related Terms

D-Wave Quantum Research & Development Historical Data

* Premium members only.

The historical data trend for D-Wave Quantum's Research & Development can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

D-Wave Quantum Research & Development Chart

D-Wave Quantum Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Research & Development
Get a 7-Day Free Trial 25.40 32.10 37.88 35.30 50.73

D-Wave Quantum Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Research & Development Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 10.29 12.69 14.08 13.68 25.79
QBTS
64GF Score
D-Wave Quantum Inc QBTS
Research & Development is just one metric. See GF Score™, valuation, warning signs, and more.
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D-Wave Quantum Research & Development Calculation

This is the expense the company spent on research and development.

Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $66.24 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Research & Development →
What does a Research & Development of $66.24 Mil mean?
D-Wave Quantum (QBTS) has a Research & Development of $66.24 Mil as of Mar. 2026. Research and development expense is the total cost for research and development activities. View historical data on D-Wave Quantum and its competitors.
Is D-Wave Quantum's Research & Development too high?
D-Wave Quantum's current Research & Development is $66.24 Mil. Overall, D-Wave Quantum has a GF Score™ of 64/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does D-Wave Quantum's Research & Development compare to RGTI and QUBT?
D-Wave Quantum's Research & Development of $66.24 Mil can be compared against companies in the Hardware industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Research & Development for a Hardware company?
A good Research & Development depends on the Hardware industry context. However, Research & Development should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Research & Development mean?
A high Research & Development can signal that a stock is expensive relative to its fundamentals. Research and development expense is the total cost for research and development activities. View historical data on D-Wave Quantum and its competitors. D-Wave Quantum's current Research & Development is $66.24 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is D-Wave Quantum stock overvalued right now?
Based on GuruFocus' analysis, D-Wave Quantum (QBTS) is currently considered Significantly Overvalued. The stock's GF Value™ is $2.45, compared to a current price of $22.76 — trading 829% above its estimated fair value. The current Research & Development is $66.24 Mil. D-Wave Quantum's overall GF Score™ is 64/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Research & Development calculated?
Research & Development is calculated from a company's financial statements. For D-Wave Quantum (QBTS), the current Research & Development is $66.24 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is D-Wave Quantum (QBTS) Overvalued in 2026?

Based on GuruFocus' analysis, D-Wave Quantum stock appears to be overvalued. The current stock price of $22.76 is trading 829% above its estimated GF Value™ of $2.45. GuruFocus considers D-Wave Quantum to be Significantly Overvalued.

Key valuation signals for QBTS:

  • Research & Development: $66.24 Mil
  • GF Value™: $2.45 vs. price of $22.76 (829% above fair value)
  • GF Score™: 64/100 with 4 warning signs

No single metric tells the full story. See the QBTS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

D-Wave Quantum Business Description

Address 2650 East Bayshore Road, Palo Alto, CA, USA, 94303
D-Wave Quantum Inc is in the development and delivery of quantum computing systems, software, and services, and it is the commercial supplier of quantum computers and the only company building both annealing quantum computers and gate-model quantum computers. It delivers customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. Its annealing quantum computers are accessible through the company's LeapTM cloud service.
64GF Score

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Research & Development is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$22.76
Price
$2.45
GF Value