D-Wave Quantum (QBTS) Revenue — Quarter Ended Jun 30, 2024
Revenue for the quarter decreased compared to the immediately preceding period, marking a sequential decline. However, revenue was higher than the same quarter one year earlier, reflecting year-over-year growth.
Key takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue for the quarter decreased compared to the immediately preceding period, marking a sequential decline. However, revenue was higher than the same quarter one year earlier, reflecting year-over-year growth.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.2M
Revenue reported for this quarter.
Quarter-over-quarter
-11.4%
Change from the immediately preceding quarter.
Year-over-year
+27.9%
Change from the comparable year-ago quarter.
Trailing four quarters
$10.1M
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 |
|---|---|---|
| Sep 30, 2023 | $2.6M | +51.2% |
| Dec 31, 2023 | $2.9M | +21.3% |
| Mar 31, 2024 | $2.5M | +55.7% |
| Jun 30, 2024 | $2.2M | +27.9% |
Revenue performance
The company sustained net losses and negative operating cash flows during the period, consistent with its ongoing investment in expanding commercial operations and research programs.
Quarterly comparison
Revenue fell from the prior quarter, reversing the growth seen in recent periods. Compared with the same quarter a year earlier, revenue was up, maintaining a positive year-over-year trajectory.
What to watch
Monitor the company's path to profitability and its ability to secure the remaining term loan tranche contingent on financial performance.