D-Wave Quantum Inc.
QBTSTechnologyNASDAQComputer Hardware
Scan Results
Daily timeframeD-Wave Quantum Inc. engages in the development and delivery of quantum computing systems, software, and services worldwide. The company carries a $10.92B market cap, placing it firmly in the large-cap category. It provides Advantage and Advantage 2 quantum computers; Ocean, a suite of open-source tools; and Leap quantum cloud service, a cloud-based service that provides real-time access to quantum computers and quantum hybrid solvers; and secure access and data protection services, as well as Ocean software development kit (SDK), a Python-based SDK for developers to learn and build applications on company's server.
Market Cap
$10.92B
Beta
1.95
P/E (TTM)
—
P/E (Fwd)
-77.90
EPS (TTM)
$-1.14
EPS (Fwd)
$-0.38
ROE
-55.3%
ROA
-11.8%
Cash
$588.4M
Total Debt
$46.8M
Free CF
-$63.5M
52W Change
80.6%
Annual Financials
Cash vs Debt
With $588.4M in cash and $46.8M in debt, QBTS maintains more liquidity than leverage. This favorable balance sheet position can be an asset when capital markets become less accommodating. Free cash flow is running at -$63.5M, which bears watching. Negative free cash flow can be acceptable during heavy investment periods but needs to improve over time. ROE of -55.3% points to negative capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. Revenue has grown from $7.2M (2022) to $24.6M (2025), reflecting a 243% increase over the period.
With a beta above 1.5, QBTS tends to amplify broader market moves — both up and down. This higher volatility means larger price swings are common. The strong cash position relative to debt provides a financial cushion that reduces balance sheet risk. Negative free cash flow means the company is currently spending more than it generates, which may require future fundraising or debt if the trend continues. No single metric tells the full story. Reviewing QBTS's risk profile alongside its fundamentals and technical indicators provides a more complete picture.