D-Wave Quantum (QBTS) Revenue — Quarter Ended Mar 31, 2023
Revenue decreased from the prior quarter and from the same quarter last year. The company reported ongoing net losses and expects to require additional financing.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue decreased from the prior quarter and from the same quarter last year. The company reported ongoing net losses and expects to require additional financing.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.6M
Revenue reported for this quarter.
Quarter-over-quarter
-33.9%
Change from the immediately preceding quarter.
Year-over-year
-7.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$7M
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $1.4M | +20.6% |
| Sep 30, 2022 | $1.7M | +29.7% |
| Dec 31, 2022 | $2.4M | -1.3% |
| Mar 31, 2023 | $1.6M | -7.6% |
Revenue performance
The reported revenue was lower than both the preceding quarter and the year-ago period.
Quarterly comparison
Sequentially, revenue fell from the level achieved in the immediately preceding quarter. On a year-over-year basis, revenue also declined compared to the same quarter one year earlier.
What to watch
The company's ability to continue as a going concern depends on obtaining additional capital.