Stocktoria
D-Wave Quantum Inc. QBTS
NYSE · XNYS · stock · Services-Computer Processing & Data Preparation · website · IPO 2020-10-11
Chart by TradingView
5/9
Piotroski F — financial health
16.11
Altman Z″ — distress risk · safe
—
Dividend payout · no dividend
Valuation · market cap as of 2026-06-29
Market cap$8.4B
P / B9.9×
Financials & ratios (annual, from 10-K)
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Financials | |||||
| Revenue | $24.6M | $8.8M | $8.8M | $7.2M | $6.3M |
| Gross profit | $20.3M | $5.6M | $4.6M | $4.2M | $4.5M |
| Operating income | -$100.4M | -$77.2M | -$80.5M | -$59.5M | -$38.9M |
| Net income | -$355.1M | -$143.9M | -$82.7M | -$53.7M | -$31.5M |
| Operating cash flow | -$72.0M | -$42.6M | -$60.6M | -$45.2M | -$34.8M |
| Free cash flow | -$75.8M | -$44.7M | -$61.2M | -$45.6M | -$36.6M |
| Total assets | $915.8M | $199.9M | $59.4M | $26.9M | $32.6M |
| Total liabilities | $63.6M | $137.2M | $83.8M | $56.4M | $29.6M |
| Shareholders' equity | $852.2M | $62.6M | -$24.5M | -$29.5M | -$18.4M |
| Ratios | |||||
| Gross margin | 82.6% | 63.0% | 52.8% | 59.2% | 72.1% |
| Operating margin | -408.2% | -874.8% | -919.7% | -828.9% | -620.3% |
| Net margin | -1444.1% | -1630.0% | -944.5% | -748.7% | -502.4% |
| FCF margin | -308.5% | -507.0% | -699.2% | -636.4% | -582.5% |
| Return on assets | -38.8% | -72.0% | -139.4% | -199.3% | -96.7% |
| Return on equity | -41.7% | -229.7% | 337.9% | 182.3% | 171.9% |
| Debt / equity | 0.04× | 0.48× | -2.61× | -1.06× | -0.67× |
| Current ratio | 42.38 | 6.14 | 4.18 | 0.87 | 1.86 |
| Revenue growth | 178.5% | 0.8% | 22.1% | 14.2% | — |
Notable holders (13F)
| Investor | Shares | Value |
|---|---|---|
| Point72 Asset Management, L.P. | 831,662 | $12.0M |
Why these scores methodology →
Piotroski F-score: 5/9
- Positive return on assets
- Positive operating cash flow
- Rising ROA
- Cash flow exceeds net income
- Lower long-term debt
- Rising current ratio
- No share dilution
- Rising gross margin
- Rising asset turnover
Altman Z″: 16.11 (safe)
- Working capital / assets 0.956
- Retained earnings / assets -1.072
- EBIT / assets -0.11
- Equity / liabilities 13.403
Sector peers
GOOG · MSFT · META · BABA · DIS · HCA · all Services →
Source: SEC EDGAR filings · CIK 0001907982 · as of 2025-12-31. Figures are facts from filings plus Stocktoria's own computed scores — not investment advice.