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QBQBTS

D-Wave Quantum Inc.

$QBTS·$7.6B·Computer Hardware·Technology
$17.22+1.4%YTD-19.0%1Y+6.8%
Mentions · last 7 days
2026-08-21: 72 posts2026-08-22: 38 posts399+9%
Price updated 4m ago·X counts updated 9d ago
QBQBTS
$QBTSD-Wave Quantum Inc.
$17.22+1.40%399 posts+9%
AI analysisFundamentalsVoices on X
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AI verdict & sentimentAI analysisGenerated by AI from underlying data

Top X posts

Today's AI verdict on what's driving $QBTS, plus how loud the X conversation is and which way it's leaning.

AI analysis

TickerTalks’ read on the fundamentals and what’s driving the move.

Driven by hypeCooling offAI verdict · as of 2026-08-30

Catching its breath after a run — could pick back up or fade from here.

The quantum-annealing name is trading on policy money and a fresh CFO exit — the tape is nervous.

D-Wave Quantum is the quantum-annealing hardware and software company whose stock has become one of the retail crowd's core quantum names alongside IonQ, Rigetti, and Infleqtion. It's down 19% YTD and roughly flat over twelve months, and today's -5% comes into a print set for Nov 5.

  • Revenue is scaling but very small: quarterly revenue ran $3.1M / $3.7M / $2.8M / $2.9M with gross margin around 66% and quarterly EPS between $-0.05 and $-0.57 — analysts model $42.8M of full-year revenue and a $0.30 EPS loss, so at $17 the equity trades at roughly 178x forward revenue, a multiple that assumes commercial breakthrough.
  • The policy-money support is real but slow: the Trump administration's $2B commitment to quantum-computing equity stakes lifted the whole cohort, and QBTS is a natural beneficiary of that push — but the underlying commercial-adoption timeline is what actually converts policy dollars into revenue, and that hasn't materially accelerated.
  • The recent management exit is a fresh flag: a CFO resignation via 8-K reportedly drew zero stock reaction — that's the kind of change that usually would matter more, and the fact that it didn't is either the tape being desensitized or the market thinking a replacement is already lined up; either way, it's a live risk into a print.

A Nov 5 print that shows an accelerating cadence of commercial-annealing contracts and specific customer wins extends the tape; a soft print alongside a CFO-succession disclosure or a Rigetti/IonQ competitive announcement is what turns 'cooling' into a real reset.

What to watch: The Nov 5 Q3 print — commercial-annealing contract cadence, cash burn, and any CFO succession commentary. A Rigetti/IonQ competitive win with a soft QBTS print is what confirms the reset.

On the calendar: 2026-11-05 — Q3 earnings

X sentiment

What the X crowd is saying right now — descriptive, summarised from the day’s posts.

Mixed sentiment23 posts analyzed · as of 2026-08-30

D-Wave's thread reads mixed after CFO John Markovich's resignation effective September 2, framed by the company as retirement unrelated to accounting. Skeptics call the departure a 'bailing before fraud exposed' tell and point to Sabine Hossenfelder's 'failure of quantum computing' argument. Bulls counter with the Trump administration's $2B equity-stake commitment to quantum names, a Treasury quantum-readiness task force, and an IonQ/QuantumBasel energy-efficiency measurement.

Read the AI verdict + X sentiment for $QBTS

  • One-line verdict on what's driving the move — fundamentals, momentum, both, or an event
  • Next dated catalyst when there is one (earnings, deal closing, activist clock)
  • X crowd read with bullish/bearish call + post volume
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What it does

Plain-English summary of the business — what they sell and how they make money.

Sells quantum annealing computers for discrete optimization problems and cloud quantum computing services.

Industry overviewAI analysisGenerated by AI from underlying data

Where Computer Hardware sits in its cycle right now — and what that implies for $QBTS.

Computer Hardware · Technology

AI server infrastructure buildout drives compute shipment volumes; Dell and HPE are riding the same hyperscaler capex wave that lifted NVDA. Non-AI commercial refresh remains soft, so the bull case is concentrated in AI infrastructure exposure.

What this means for $QBTS

Direct beneficiary — AI-native product or platform captures spend from the same capex cycle driving the industry; Sells quantum annealing computers for discrete optimization problems and cloud quantum computing services.

Top industry ETF

$SOXXiShares Semiconductor ETF
+75.7%YTD
+101.4%1Y

Fundamentals & catalyst

Profitability, valuation, and the next earnings event — at a glance, with rule-of-thumb signals.

Key ratios

P/E
-23.8How much investors are paying per dollar of profit the company actually earned in the last 12 months. Lower means the stock looks cheaper relative to earnings.~15–25 is typical for the S&P 500; high-growth names trade 30+; hyper-growth or speculative can be 100+ or negative.
ROIC
-11.4%What percentage return the business earns on every dollar of capital (equity + debt) deployed in operations. The cleanest measure of business quality.Above ~15% is high-quality; consistently above 25% suggests a real moat. Below the company's cost of capital is value-destroying.
Op margin
-11.6%Operating profit (after sales, marketing, R&D, and overhead but before interest and taxes) as a percentage of revenue. The clearest view of how well the underlying business is run.Mature business above 20% is healthy; software businesses can run 30%+; commodity / retail businesses operate in single digits.
FCF yield
-1.2%Free cash flow (operating cash flow minus capex) divided by the company's market cap. The cash-on-cash return you'd get owning the whole business at today's price.Above ~5% is attractive; below ~2% means you're paying up for growth. Capital-light businesses (software) run higher than capital-heavy ones (utilities).
P/S
703.9Same idea as P/E but per dollar of revenue. Useful for companies that aren't profitable yet, where P/E is meaningless.Under ~2 is cheap; software / SaaS often runs 8–15; well above 20 implies the market is pricing in very high future growth.
ROE
-44.1%Net income as a percentage of shareholders' equity. Similar to ROIC but counts only the equity side.Above 20% is strong, but can be inflated by leverage — a heavily indebted company can show high ROE with weak underlying ROIC.
Gross margin
66.3%Revenue minus the direct cost of producing what was sold, as a percentage of revenue. The first read on whether the product is structurally profitable.Software / SaaS is typically 70%+; consumer goods 30–50%; commodity / hardware businesses can be under 20%.
D/E
0.0Total debt divided by shareholders' equity. Measures how much the business runs on borrowed money versus owner capital.Under 1 is conservative; 1–2 is typical for mature businesses; over 2 is leveraged and more sensitive to interest rates.

Past earnings

QuarterReportedActualEstimateSurprise
Q2 2026Aug 6, 2026$-0.10$-0.08-18.1%
Q1 2026May 12, 2026$-0.05$-0.08+34.7%
Q4 2025Feb 26, 2026$-0.12$-0.05-140.0%
Q3 2025Nov 6, 2025$-0.41$-0.07-525.1%
Next earningsThu, Nov 5·consensus EPS $-0.09

Quarterly trend

QuarterRevenueYoYGrossOpEPSFCF
Q1 FY26$2.9M-80.9%63.6%-1915%$-0.05$-46.0M
Q4 FY25$2.8M+19.2%64.8%-1266%$-0.12$-20.0M
Q3 FY25$3.7M+99.9%71.4%-742%$-0.41$-20.1M
Q2 FY25$3.1M+41.8%63.8%-856%$-0.57$-16.0M

Forward consensus

5-year forecast · up to 12 analysts
FYRevenueRangeEPSRangeAnalysts
FY26$42.8M$37.1M – $46.5M-$0.30-$0.40 – -$0.1512
FY27$85.8M$52.3M – $135.2M-$0.37-$0.49 – -$0.0812
FY28$143.4M$109.9M – $175.1M-$0.38-$0.51 – -$0.269
FY29$269.6M$193.5M – $392.5M-$0.27-$0.43 – -$0.174
FY30$428.3M$307.5M – $623.5M-$0.10-$0.17 – -$0.074

Setup & momentum

Volume, range, and moving-average position — the technical setup driving short-term moves.

Right now

Vol vs 30dToday's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.1.0×Today's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.
52w rangeWhere the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.12%Where the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.
vs 50d MALatest close vs the 50-day simple moving average. Positive = short-term trend is up.-15.2%Latest close vs the 50-day simple moving average. Positive = short-term trend is up.
vs 200d MALatest close vs the 200-day simple moving average. Positive = long-term trend is up.-21.8%Latest close vs the 200-day simple moving average. Positive = long-term trend is up.

Float & profile

FloatHigh float · 358.6M shFree-float shares — the slice of issued stock actually available to trade. Lower buckets squeeze harder on a catalyst.Traded today5.1% of floatToday's volume as a percent of the free float. Above 5% on a single day is unusually high turnover for the available share count.β2.165-year weekly beta vs the S&P 500. Above 1.5 means the stock typically moves more than the index; below 0.8 moves less.

Insider activity

Recent open-market buys and sells by officers and directors — flagged when multiple insiders cluster.

Recent transactions

SellJul 20Sophie C AmesPresident3.1K sh$52KSellJun 15Rohit GhaiDirector13.5K sh$357KSellJun 15John M. MarkovichCFO200.0K sh$5.1MSellJun 12John M. MarkovichCFO46.0K sh$1.1MSellJun 9John M. MarkovichCFO70 sh$2KSellJun 8Alan E BaratzCEO687.6K sh$18.0MSellJun 8John M. MarkovichCFO51.0K sh$1.3MSellJun 5John D DilulloDirector7.8K sh$192KSellJun 2John M. MarkovichCFO2.9K sh$90KSellMay 22John M. MarkovichCFO328.8K sh$9.1M
1–10 of 17
+ 26 other (17 inkinds · 7 awards · 2 exempts) in window

See when $QBTS insiders are putting their own money in

  • Real-time open-market buys and sells from Form 4 filings
  • Cluster-buy detection when multiple insiders pile in at once
  • 30 / 60 / 180-day windows so you can spot building conviction
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SEC filings

Material 8-K, 13D, S-3, and 424B5 events from the last 180 days — the filings that actually move the price.

Recent material filings

8-KOfficer or director changeAug 258-K — Item 5.02: Officer or director change
AI summary

D-Wave Quantum Inc. (QBTS, Palo Alto CA), a quantum computing hardware and software company, filed a current report on August 19, 2026 disclosing a change in executive officers or directors (Item 5.02) with exhibits (Item 9.01). The specific details of the leadership change are not visible in the excerpt. Leadership changes at a publicly traded quantum computing company can be material to investor sentiment.

8-KPress release / Reg FDAug 188-K — Item 7.01: Press release / Reg FD
8-KOfficer or director changeAug 178-K — Item 5.02: Officer or director change
AI summary

D-Wave Quantum (QBTS) filed an 8-K under Item 5.02, disclosing a change in executive officers or directors effective August 13, 2026. D-Wave Quantum, headquartered in Palo Alto, CA, provides commercial quantum computing systems and services. No specific names or roles were available in the excerpt.

8-KPress release / Reg FDAug 58-K — Item 7.01: Press release / Reg FD
AI summary

QBTS filed an 8-K (Item 7.01) for a Regulation FD disclosure. A presentation or investor communication is being furnished as an exhibit. Reg FD disclosures are furnished rather than filed and are not typically market-moving on their own, but may contain forward-looking statements or strategy updates.

8-KPress release / Reg FDAug 38-K — Item 7.01: Press release / Reg FD
AI summary

QBTS filed an 8-K (Item 7.01) for a Regulation FD disclosure. A presentation or investor communication is being furnished as an exhibit. Reg FD disclosures are furnished rather than filed and are not typically market-moving on their own, but may contain forward-looking statements or strategy updates.

8-KPress release / Reg FDJul 278-K — Item 7.01: Press release / Reg FD
AI summary

D-Wave Quantum Inc. (QBTS) disclosed via Reg FD on July 27, 2026 that AT&T has signed an agreement to expand its use of D-Wave's quantum computing technology for complex optimization challenges in network operations, integrating D-Wave's annealing quantum computing into AT&T's agentic AI tools that already reduced customer downtime by 12 million hours in 2025. AT&T is also evaluating D-Wave's forthcoming gate-model systems for quantum security and communications applications. No contract value is disclosed. This is a strategically meaningful commercial partnership with a major telecom — expanding D-Wave's reference customer list for its annealing platform.

8-KPress release / Reg FDJul 248-K — Item 7.01: Press release / Reg FD
AI summary

D-Wave Quantum Inc. (Delaware; Palo Alto, CA), a quantum computing company, filed an 8-K under Item 7.01 (Reg FD disclosure) on July 24, 2026, furnishing investor presentation materials. The body excerpt contains only the standard cover page. This is routine investor communication; the presentation content — potentially related to technology milestones or business updates — is in the attached exhibit.

8-KListing / delisting noticeJul 148-K — Item 3.01: Listing / delisting notice · Item 7.01: Press release / Reg FD
AI summary

D-Wave Quantum Inc. (QBTS) announced on July 14, 2026, that it is transferring the listing of its common stock from the New York Stock Exchange (NYSE) to the Nasdaq Stock Market. A press release announcing the transfer was furnished as a Regulation FD disclosure. The transfer reflects D-Wave's strategic decision to move to a different exchange, which may affect liquidity and trading dynamics for its shares.

+ 31 other (11 8-Ks · 4 13Gs · 3 proxys · 2 10-Qs) in window

Recent news

Latest headlines from major outlets, sourced and timestamped — context for whatever just moved.

D-Wave Quantum's Massive Upside Meets a High-Stakes Valuation Realityfool.com·1d agoIs D-Wave Quantum a Buy?fool.com·2d agoWhy Did D-Wave Quantum Stock Fall 16.6% This Week?fool.com·3d agoIf You Invested $1,000 in D-Wave Quantum Stock 3 Years Ago, This Is How Much You Would Have Todayfool.com·4d agoWhy D-Wave Quantum Stock Was Plummeting Todayfool.com·5d ago

In themes

Explore the broader themes this ticker is being talked about under.

Quantum Computing

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TickerTalks is a research tool, not financial advice. We surface social-attention data; we do not make stock recommendations. Past attention is not predictive of future price movements.

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