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D-Wave leans on QCaaS as recurring revenue hopes grow

More than 37% of D-Wave QCaaS revenue came from production applications, and the company signed eight-figure enterprise QCaaS agreements alongside hardware sales.

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Investment interest in quantum computing has often focused on hardware races, but a growing theme is that the software and cloud layer could become the nearer-term revenue engine, according to MarketBeat Ratings.

The outlet argues that Quantum Computing as a Service, or QCaaS, matters because the industry is still in a period where systems can operate at roughly 1,000 qubits, but errors remain frequent and fault-tolerant quantum computing is still years away.

In that context, MarketBeat Ratings highlights D-Wave Quantum Inc., alongside peers Rigetti Computing and Quantum Computing Inc., as businesses positioned to monetize access rather than requiring customers to own hardware.

MarketBeat Ratings points to D-Wave's significant bookings this year and its latest-quarter performance, saying it negotiated enterprise QCaaS agreements worth eight figures and that more than 37% of QCaaS revenue came from production applications, which the outlet frames as a base more likely to support recurring subscription-like revenue.

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