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D-Wave shares drop after Q2 revenue stays flat and EBITDA loss widens
Bookings rose sharply, with Q2 bookings up 59% year over year, but revenue was flat at $3.1 million as the adjusted EBITDA loss widened to $37.1 million.
D-Wave Quantum Inc. shares fell about 9% after its Aug. 6 Q2 2026 earnings, as investors focused on weak financial growth despite business momentum, MarketBeat Ratings reports. The quantum computing company said Q2 bookings climbed 59% year over year, while H1 bookings surged 1,120% from the same period, with more than half of the first-half total tied to a system sale to Florida Atlantic University. It also expects 57% of performance obligations to be recognized as revenue over the next 12 months, and noted the $20 million FAU sale will be recognized as future revenue. Operationally, D-Wave reported six customer applications now in production and said QCaaS revenue rose 37% on the back of production applications and partnerships. The company reiterated its technology roadmap, including a target of a 17-qubit system by year end and a 100-logical-qubit system by 2032. Still, revenue remained basically flat year over year at $3.1 million, while the adjusted EBITDA loss widened to $37.1 million due to higher product development and go-to-market spending. MarketBeat Ratings also pointed to H1 revenue down about two-thirds year over year, attributing the decline to a large system sale in early 2025, and said the spending may have caught up with the company’s profitability timeline.