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This article was published by IBN, a multifaceted communications organization engaged in connecting public companies to the investment community.
LOS ANGELES - January 13, 2025 (NEWMEDIAWIRE) - D-Wave Quantum Inc. (NYSE: QBTS) ("D-Wave") announced that fiscal 2024 bookings will exceed $23 million, an approximately 120% increase from 2023, and fiscal Q4 bookings reached at least $18 million, an approximately 500% rise from $3 million in Q4 2023 bookings. The company also secured its first customer purchase of a D-Wave Advantage annealing quantum computing system, the world's largest quantum computer with over 5,000 qubits, marking a significant expansion in its revenue model by including on-premise system sales alongside its Leap((TM)) quantum cloud service. D-Wave ended fiscal 2024 with a record approximately $178 million in cash.
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About D-Wave Quantum Inc.
D-Wave is a leader in the development and delivery of quantum computing systems, software and services, and is the world's first commercial supplier of quantum computersand the only company building both annealing quantum computers and gate-model quantum computers. The company's mission is to unlock the power of quantum computing today to benefit business and society. D-Wave does this by delivering customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection and financial modeling. D-Wave's technology has been used by some of the world's most advanced organizations including Mastercard, Deloitte, Davidson Technologies, ArcelorMittal, Siemens Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd., DENSO, Lockheed Martin, Forschungszentrum Jlich, University of Southern California, and Los Alamos National Laboratory.
Forward-Looking Statements
Certain statements in this article are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management's control, including the risks set forth under the heading "Risk Factors" discussed under the caption "Item 1A. Risk Factors" in Part I of the Company's most recent Annual Report on Form 10-K or any updates discussed under the caption "Item 1A. Risk Factors" in Part II of the Company's Quarterly Reports on Form 10-Q and in the Company's other filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this article in making an investment decision, which are based on information available to us on the date hereof. All parties undertake no duty to update this information unless required by law.