D-Wave Quantum (QBTS) Registration Filing summary

Company overview and business model

• Pioneering quantum computing for enterprise applications, focusing on annealing quantum technology and hybrid quantum-classical solutions.

• Holds a first-mover advantage with commercial-grade quantum systems and production deployments for business customers.

• Offers a full stack of quantum systems, software, and services, with a cloud-based delivery model for real-time access.

• Technical roadmap includes advancing qubit architecture, increasing qubit count and coherence, and integrating generative AI with quantum computing.

• Headquarters in Palo Alto, California, with a global customer base.

Financial performance and metrics

• Market value held by non-affiliates was approximately $855 million as of December 6, 2024, based on 222,381,339 common shares and a share price of $3.91.

• Common stock traded on NYSE under the symbol QBTS, with a last reported sale price of $6.44 on December 20, 2024.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for general corporate purposes, including working capital, capital expenditures, and potential acquisitions or business expansion.

• No current agreements for acquisitions or capital expenditures as of the filing date.

• Proceeds may be temporarily invested in short-term, interest-bearing instruments or investment-grade securities.