D-Wave Quantum (QBTS) Revenue — Quarter Ended Mar 31, 2025
Revenue for the quarter increased compared to both the prior quarter and the same quarter one year ago. The sequential and year-over-year changes were both positive.
Key takeaway
Quarter ended Mar 31, 2025 · FY2025 Q1
Revenue for the quarter increased compared to both the prior quarter and the same quarter one year ago. The sequential and year-over-year changes were both positive.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$15M
Revenue reported for this quarter.
Quarter-over-quarter
+549.7%
Change from the immediately preceding quarter.
Year-over-year
+508.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$21.4M
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, 2024 | $2.2M | +27.9% |
| Sep 30, 2024 | $1.9M | -27.0% |
| Dec 31, 2024 | $2.3M | -20.5% |
| Mar 31, 2025 | $15M | +508.6% |
Revenue performance
The reported revenue was higher than the immediately preceding quarter, reflecting a reversal of the prior quarter's decline.
Quarterly comparison
Revenue rose compared to the preceding quarter and also compared to the same quarter one year earlier.
What to watch
The company's liquidity agreement with Lincoln Park includes a minimum stock price condition that could restrict future share issuances.