D-Wave Quantum Inc. has announced its Q1 2025 financial results. A quick summary of some key financial metrics comparing Q1 2025 versus Q4 2024 and the year ago quarter of Q1 2024 is shown in the chart below.
D-Wave reached a record level of revenue of $15 million in Q1 2025 helped substantially by completion of the first Advantage processor installation at Forschungszentrum Jülich (FZJ). And their Net Loss also came in substantially improved at $5.4 million versus $17.3 million in the year ago quarter. This was helped by the increased revenue as well as beneficial change in the fair value of their warrant liabilities, a non-cash expense. During the preceding four quarters, the companies had 133 customers including 69 commercial customers, 52 research organizations, and 12 government customers. The company strengthened their balance sheet with an At-The-Market program sale of $304 million and now have on-hand $304 million in cash and cash equivalents.
In their press release the company highlighted a number of accomplishments achieved in Q1 including quantum computational supremacy on a magnetic materials simulation, successful customers programs at Ford Otosan and Japan Tobacco, system shipments to the Jülich Supercomputing Centre and Davidson Technologies, introduction of new hybrid quantum solver software, and other things.
Additional details about the company’s financial report can be found in a press release located here and also an investor presentation that can be found here.
May 8, 2025
