D-Wave Quantum (QBTS) Revenue — Quarter Ended Dec 31, 2023
Revenue increased in the quarter, reflecting growth from both the immediate prior quarter and the corresponding quarter one year earlier. The sequential and year-over-year gains continued the upward trend seen throughout the fiscal year.
Key takeaway
Quarter ended Dec 31, 2023 · FY2023 Q4
Revenue increased in the quarter, reflecting growth from both the immediate prior quarter and the corresponding quarter one year earlier. The sequential and year-over-year gains continued the upward trend seen throughout the fiscal year.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.9M
Revenue reported for this quarter.
Quarter-over-quarter
+13.4%
Change from the immediately preceding quarter.
Year-over-year
+21.3%
Change from the comparable year-ago quarter.
Trailing four quarters
$8.8M
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 |
|---|---|---|
| Mar 31, 2023 | $1.6M | -7.6% |
| Jun 30, 2023 | $1.7M | +24.5% |
| Sep 30, 2023 | $2.6M | +51.2% |
| Dec 31, 2023 | $2.9M | +21.3% |
Revenue performance
The quarter's revenue growth was achieved despite ongoing operational uncertainties. The company's filings highlight material liquidity risks that could affect future operations.
Quarterly comparison
Compared to the previous quarter, revenue was higher, marking a continuation of sequential improvement. On an annual basis, revenue also exceeded the level reported for the same quarter in the prior year.
What to watch
A key area to watch is the company's progress in obtaining additional financing as it addresses the going concern uncertainty noted in its filing.