D-Wave Quantum (QBTS) Revenue — Quarter Ended Mar 31, 2024
Revenue for the quarter declined compared to the immediately preceding period, but increased versus the same quarter one year earlier. The quarterly performance reflects a reversal of the prior sequential growth trend.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the quarter declined compared to the immediately preceding period, but increased versus the same quarter one year earlier. The quarterly performance reflects a reversal of the prior sequential growth trend.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.5M
Revenue reported for this quarter.
Quarter-over-quarter
-15.2%
Change from the immediately preceding quarter.
Year-over-year
+55.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$9.6M
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, 2023 | $1.7M | +24.5% |
| Sep 30, 2023 | $2.6M | +51.2% |
| Dec 31, 2023 | $2.9M | +21.3% |
| Mar 31, 2024 | $2.5M | +55.7% |
Revenue performance
The reported revenue decreased from the prior quarter, ending a streak of sequential gains observed in the preceding quarters. On a year-over-year basis, revenue remained higher.
Quarterly comparison
Compared to the immediately preceding quarter, revenue was lower. Compared to the same quarter one year earlier, revenue was higher.
What to watch
The company continues to generate operating losses and negative cash flows from operations, as highlighted in the filing.