D-Wave Quantum (QBTS) Revenue — Quarter Ended Sep 30, 2025
Revenue for the reported quarter increased. The company experienced growth both sequentially and compared with the same period a year ago.
Key takeaway
Quarter ended Sep 30, 2025 · FY2025 Q3
Revenue for the reported quarter increased. The company experienced growth both sequentially and compared with the same period a year ago.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$3.7M
Revenue reported for this quarter.
Quarter-over-quarter
+20.8%
Change from the immediately preceding quarter.
Year-over-year
+99.9%
Change from the comparable year-ago quarter.
Trailing four quarters
$24.1M
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 |
|---|---|---|
| Dec 31, 2024 | $2.3M | -20.5% |
| Mar 31, 2025 | $15M | +508.6% |
| Jun 30, 2025 | $3.1M | +41.8% |
| Sep 30, 2025 | $3.7M | +99.9% |
Revenue performance
The revenue increase reflects the company's ongoing business development, with higher revenue generated in the quarter.
Quarterly comparison
Quarter-over-quarter, revenue improved. Year-over-year, revenue showed a significant gain.
What to watch
The company has fully utilized its Lincoln Park Purchase Agreement, which may affect future liquidity.