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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
D-Wave Quantum
D-Wave Quantum (QBTS) investor relations material
D-Wave Quantum Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary6 Aug, 2026
Executive summary
Quantum computing market is at an inflection point, with accelerating scientific progress, expanding customer interest, and dual-platform (annealing and gate-model) offerings.
Recognized as a leader in the IDC MarketScape: Worldwide Quantum Computing 2026 Vendor Assessment, with strengths in enterprise accessibility and hybrid adoption frameworks.
Over 100 customers in the first half of 2026, with more than 65% of revenue from commercial clients and 45%–48.5% from Forbes Global 2000 companies.
Major technical milestones achieved, including quantum supremacy on a real-world problem, peer-reviewed breakthroughs in error correction, and a scalable architecture roadmap.
Completed the acquisition of Quantum Circuits, Inc. in January 2026, enhancing gate-model capabilities and adding dual-rail qubit technology.
Financial highlights
Q2 2026 revenue was $3.1M (flat year-over-year); first half 2026 revenue was $5.9M, down 67% due to a prior large system sale.
Q2 2026 commercial customer revenue reached $1.9M, with QCaaS revenue up 37.6% year-over-year and professional services up 18%.
Q2 2026 net loss was $48M ($0.13/share), improved from $167.3M ($0.55/share) last year, mainly due to lower non-cash warrant charges; first half net loss was $66.4M ($0.18/share).
Bookings for the first half totaled $35.5M, up 1,120% year-over-year, driven by a $20M system sale.
Cash and marketable securities at June 30, 2026, were $546.2M, down 33% due to the $250M Quantum Circuits acquisition.
Outlook and guidance
Roadmap targets a 100,000-qubit annealing system by 2031 and a 20,000-qubit system by 2029; gate-model roadmap includes a 17-qubit system in 2026 and 100 logical qubits by 2032.
Expect to deliver two annealing quantum computer systems in Q4 2026, with related revenue carrying into 2027.
Q3 revenue expected to be modestly up from Q2; Q4 revenue to be significantly higher and comprise most of the year’s total.
QCaaS revenue anticipated to grow as a share of total revenue, with professional services as a strategic enabler.
Plans to accelerate the timeline to scalable, error-corrected gate-model quantum computers.
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Latest events from D-Wave Quantum
- All proposals, including director elections and auditor ratification, were approved.QBTS
AGM 2026 - Dual-platform quantum strategy, rapid bookings growth, and leading IP drive market expansion.QBTSInvestor Day 2026
- Record bookings and Quantum Circuits deal drive quantum roadmap despite lower revenue.QBTSQ1 2026
- Proxy covers director elections, executive pay, auditor ratification, and robust governance practices.QBTSProxy filing
- Shareholders will vote on directors, executive pay, and auditor ratification at the June 2026 meeting.QBTSProxy filing
- Director elections, executive pay, and auditor ratification headline the June 2026 virtual meeting.QBTSProxy filing
- Revenue up 179% to $24.6M, record liquidity, and major deals drive strong 2026 outlook.QBTSQ4 2025
- Q3 revenue fell 27%, but QCaaS grew 41% and key partnerships and milestones drove future growth.QBTSQ3 2024
- Q2 revenue up 28% year-over-year, with improved margins but ongoing going concern risk.QBTSQ2 2024
Next D-Wave Quantum earnings date
Q3 202610 Nov, 2026
D-Wave Quantum
Next D-Wave Quantum earnings date
Q3 202610 Nov, 2026
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Frequently asked questions
D-Wave Quantum Inc., also known as D-Wave, is a company active in the field of quantum computing, focusing on the development, delivery, and application of quantum computing systems, software, and services. The company's operations centers on harnessing the power of quantum computing to deliver practical applications with real-world value across a variety of industries, including manufacturing and logistics, financial services, life sciences, and the public sector. D-Wave offers a comprehensive quantum computing ecosystem comprising the Advantage quantum system, the Leap cloud-based quantum computing service, and the Ocean suite of open-source programming tools. The company is headquartered in Burnaby, Canada, and its shares are listed on the NYSE.