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QBQBTS

D-Wave Quantum Inc.

$QBTS·$5.4B·Computer Hardware·Technology
$11.78-8.1%YTD-50.4%1Y-70.9%
Price updated 2h ago·X counts updated 5d ago
QBQBTS
$QBTSD-Wave Quantum Inc.
$11.78-8.08%580 posts1×
AI analysisFundamentalsVoices on X
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On X

Top X posts

The complete picture of $QBTS on X — how loud the conversation is right now, how it has trended over the last two weeks, and which way the crowd is leaning.

580X posts · last 7 days
Sep 28Oct 11
Chatter Meter
1×
QuietNormal · 1×Loud

How loud $QBTS's conversation on X is versus its own normal — 1× is typical, higher means busier. Right now it's about its usual level.

Bullish sentimentAI analysisGenerated by AI from underlying data6 posts analyzed · as of 2026-09-16

D-Wave posters cheer the US government taking a $100M stake in $QBTS (and $RGTI and $QNT) alongside $200M for quantum R&D, calling it a fresh policy tailwind. Bulls note the pop is deserved as quantum stops being "the future" and starts being a fundable industry, and cite Jensen Huang publicly talking quantum. One dissenting voice argues QBTS is not at the frontier of the technology and that a "flood the zone" press strategy has failed before.

Read what X is saying about $QBTS

  • Bullish vs bearish call — with the AI summary of the day's posts
  • Divergence flag when the top-engagement posts argue the other side
  • How loud the conversation is versus this ticker's own normal
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AI verdictAI analysisGenerated by AI from underlying data

TickerTalks' own read on what's driving $QBTS — fundamentals, momentum, or an event — and whether it agrees with the X crowd.

Hinges on a big eventWinding up for a moveAI verdict · as of 2026-10-03

Trading in a tight range and building pressure — a move looks likely soon, but the direction isn't clear yet.

The US government just took a $100M stake — a real policy tailwind landing on a stock still 41% underwater.

D-Wave is the quantum-computing company whose annealing-based approach is treated by purists as a side bet — the US government just made it the policy winner anyway, with a $100M direct equity stake in QBTS alongside stakes in RGTI and QNT and $200M for broader quantum R&D.

  • The fundamentals remain negligible, which is the setup: last quarter revenue was just $2.9M at a -1,915% operating margin, so this is still a research-stage company whose equity price depends almost entirely on policy, perception, and institutional sponsorship.
  • The policy intervention changes the capital-markets equation more than the technology one: a government stake is a formal credibility stamp, and Jensen Huang publicly discussing quantum lifts the sector narrative — but a dissenting voice reminding the room that D-Wave isn't at the technology frontier is accurate on substance.

At 9% of its 52-week range into Nov 5 earnings, the stock is coiled on sentiment that just turned structurally. A follow-up policy commitment or a disclosed commercial contract is what finally sustains a leg; another cash-burn-widening print without new policy news is where the move pauses.

Agrees with X sentimentThe policy-tailwind bull read is accurate on substance. The dissenting voice on 'not at the technology frontier' is honest on fundamentals — both can be true, which is why I lean catalyst-play on a coil, not an outright trajectory call.

What to watch: Nov 5 Q3 earnings — cash-burn rate, revenue direction, and any disclosed commercial customer. A credible commercial contract reset is the trigger; worsening operational burn is the invalidation.

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

event ahead 30dpolicy tailwind

Read the AI verdict on $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)
  • Whether TickerTalks' read agrees with or diverges from the X crowd
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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

No material change from last week — hyperscaler AI server capex continues to drive the cycle.

What this means for $QBTS

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

Top industry ETF

$SOXXiShares Semiconductor ETF
+83.9%YTD
+70.7%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 $-0.10

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 13 analysts
FYRevenueRangeEPSRangeAnalysts
FY26$42.5M$36.5M – $48.4M-$0.30-$0.39 – -$0.2013
FY27$80.8M$56.0M – $92.6M-$0.38-$0.52 – -$0.2313
FY28$148.0M$108.9M – $180.2M-$0.36-$0.43 – -$0.3011
FY29$314.1M$229.3M – $384.6M-$0.29-$0.37 – -$0.195
FY30$431.9M$315.3M – $528.8M-$0.08-$0.10 – -$0.055

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.1.5×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.0%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.-31.2%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.-40.7%Latest close vs the 200-day simple moving average. Positive = long-term trend is up.

Float & profile

FloatHigh float · 362.0M shFree-float shares — the slice of issued stock actually available to trade. Lower buckets squeeze harder on a catalyst.Traded today6.6% 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.β2.175-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

SellSep 8John D DilulloDirector1.1K sh$20KSellJul 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$90K
1–10 of 14
+ 28 other (17 inkinds · 9 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-KPress release / Reg FDOct 18-K — Item 7.01: Press release / Reg FD
3New insider — initial holdingsSep 223
AI summary

Gregory Golkov became Acting Chief Financial Officer and Senior Vice President of Finance at D-Wave Quantum Inc. effective September 2, 2026, triggering a Form 3 initial statement. Golkov beneficially owns 400,923 shares of D-Wave common stock including 230,764 unvested RSUs, plus options to acquire an additional 43,152 shares at an exercise price of $0.8455. His equity position reflects compensation from his prior role at D-Wave before assuming acting CFO responsibilities. The Form 3 establishes Golkov's insider ownership baseline for ongoing Section 16 reporting.

8-K/AOfficer or director change (amended)Sep 228-K/A — Item 5.02: Officer or director change
AI summary

D-Wave Quantum Inc. filed Amendment No. 1 (8-K/A) to its August 19, 2026 Form 8-K that originally disclosed an officer or director change under Item 5.02. The amendment corrects or supplements administrative aspects of the original disclosure, with no new material business information being reported. This is a routine corrective filing to ensure accuracy of the previously filed officer change 8-K. No operational changes to D-Wave's executive team are implied by this administrative amendment.

8-KOfficer or director changeSep 218-K — Item 5.02: Officer or director change
AI summary

D-Wave Quantum Inc. disclosed an officer or director change under Item 5.02, with an event date of September 18, 2026. This original 8-K was subsequently amended by Amendment No. 1 (8-K/A) to correct administrative aspects of the disclosure. Based on related filings, this 8-K concerns the Acting CFO appointment of Gregory Golkov as reflected in the concurrent Form 3. The base filing establishes the initial record of D-Wave's executive change.

8-KPress release / Reg FDSep 178-K — Item 7.01: Press release / Reg FD
AI summary

D-Wave Quantum Inc. (QBTS) announced Qubits Asia 2026, a full-day quantum computing user conference in Seoul on October 28, 2026, spotlighting production applications across network optimization, AI/ML, drug discovery, semiconductor manufacturing, and port operations in APAC. The event reflects growing commercial adoption across Japan, Singapore, South Korea, and Taiwan. Routine event marketing disclosure; the APAC conference cadence supports D-Wave's commercial quantum expansion strategy.

8-KPress release / Reg FDSep 158-K — Item 7.01: Press release / Reg FD
AI summary

D-Wave Quantum Inc. (QBTS) announced via Reg FD that it is a platinum sponsor of Quantum World Congress 2026 (September 23–25, College Park, MD). D-Wave will present commercial optimization results from its annealing quantum computers and update on its dual-rail gate-model architecture designed for quantum error correction. The event is a visibility-building conference appearance; no contracts, financial results, or corporate transactions are disclosed. This is routine investor-relations activity.

8-K/AMaterial agreement (amended)Sep 98-K/A — Item 1.01: Material agreement · Item 3.02: Unregistered equity sale · Item 8.01: Other event
AI summary

D-Wave Quantum filed Amendment No. 1 to its September 8 8-K to report execution of a Securities Issuance Agreement (SIA) with the U.S. Department of Commerce on September 8, 2026. Pursuant to the SIA, D-Wave issued 7,095,721 shares of common stock at $14.093 per share (total proceeds ~$100 million) to the DoC as part of a broader Other Transaction Agreement providing up to $100 million in government funding. Shares are unregistered. This is a highly material government equity investment in a quantum computing company — the DoC becomes a significant shareholder, validating D-Wave's technology and providing non-dilutive-equivalent strategic capital.

8-KMaterial agreementSep 88-K — Item 1.01: Material agreement · Item 7.01: Press release / Reg FD · Item 8.01: Other event
AI summary

D-Wave Quantum Inc. entered into a CHIPS Act Other Transaction Agreement with the U.S. Department of Commerce on September 4, 2026, securing up to $100 million for quantum computing R&D targeting annealing and gate model superconducting quantum computers. An initial tranche of $53,552,620 was made immediately available, with additional milestone-based tranches of $9.1M, $16.7M, $20.4M, and $0.3M to follow. Project milestones relate to tool installation, QPU prototype fabrication, process integration, and QPU calibration and benchmarking.

+ 37 other (19 8-Ks · 3 routine 8-Ks · 3 13Gs · 3 proxys) in window

Recent news

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

Investor Alert: Robbins LLP Informs Investors of the D-Wave Quantum Inc. Class Action Lawsuitbusinesswire.com·1d agoCould Investing $5,000 in D-Wave Quantum Stock Today Make You a Millionaire?fool.com·1d agoQuantum Computing Stocks Rebound After Dilution Scare: IonQ and Rigetti Climb 3%, D-Wave Advances 2%247wallst.com·1d agoIonQ Falls 6% as $2B Equity Offering Follows $1.3B Elisity Stock Deal; D-Wave and Rigetti Retreat 4%247wallst.com·3d ago3 Quantum Computing Stocks in the Limelight After October Dealszacks.com·3d 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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