D-Wave Quantum Inc. (QBTS)Technology | Computer Hardware | Palo Alto, United States | NasdaqGS
12.82 USD
+0.79
(6.525%)
⇧
(Oct. 15, 2026, 4 p.m.
EDT)
After hours: 12.74 -0.07 (-0.075%) ⇩ (Oct. 15, 2026, 7:59 p.m. EDT) |
Hot Take ↕ | Oct. 10, 2026, 5:18 a.m. EDT
The fundamental reality here is stark: despite a headline-grabbing 3,600% surge last year, the company is currently trading at a valuation of 445 times sales with negative earnings, negative free cash flow, and a shrinking revenue base. The recent transfer of listing from NYSE to Nasdaq and insider selling signals significant distress and a lack of confidence from those closest to the business. While the analyst consensus remains aggressively bullish, the price action over the last two weeks shows a relentless decline, erasing much of the prior year's gains. The options market confirms this tension, with traders buying insurance against a total wipeout while dreaming of a miraculous recovery to $60+. This is a speculative gamble on a turnaround story with deteriorating fundamentals, not an investment. The short-term outlook is bearish due to the technical breakdown and lack of earnings support, while the long-term outlook is weak given the structural decline in revenue and the precarious financial position. |
| Model | MAE |
|---|---|
| AutoETS ✓ | 0.075188 |
| MSTL | 0.077838 |
| AutoTheta | 0.146730 |
| AutoARIMA | 0.169559 |
Forecast horizon: 45 days | Selected: AutoETS
| Forecast Reliability | |
|---|---|
| Score | 33% |
| H-stat | 0.11 |
| Ljung-Box p | 0.000 |
| Jarque-Bera p | 0.102 |
| Excess Kurtosis | -1.13 |
| Attribute | Value |
|---|---|
| Sector | Technology |
| Debt to Equity Ratio | 4.442 |
| Revenue per Share | 0.035 |
| Market Cap | 4,864,914,944 |
| Forward P/E | -33.93 |
| Beta | 2.17 |
| Previous Name | DPCM Capital, Inc. |
| Website | https://www.dwavequantum.com |
As of Oct. 10, 2026, 5:18 a.m. EDT: Speculators are positioning for extreme volatility rather than a specific directional outcome. Call volume is heavily skewed toward out-of-the-money strikes (OTM), creating massive walls of open interest at strikes like $20, $22, and $60, suggesting bets on a massive gap-up event. Conversely, put open interest is concentrated deep in-the-money (ITM) at strikes like $1, $3, and $5, indicating a hedge against a catastrophic collapse or a bet on a slow grind lower. The implied volatility surface shows massive spikes at these extreme strikes compared to the at-the-money range, reflecting a binary 'moonshot or zero' sentiment rather than a linear price expectation.
| Attribute | Value |
|---|---|
| 52 Week Change | -0.70266926 |
| Address1 | 2,650 East Bayshore Road |
| All Time High | 46.75 |
| All Time Low | 0.396 |
| Ask | 13.47 |
| Ask Size | 1 |
| Audit Risk | 2 |
| Average Analyst Rating | 1.3 - Strong Buy |
| Average Daily Volume10 Day | 15,261,730 |
| Average Daily Volume3 Month | 16,656,565 |
| Average Volume | 16,656,565 |
| Average Volume10Days | 15,261,730 |
| Beta | 2.167 |
| Bid | 13.4 |
| Bid Size | 1 |
| Board Risk | 4 |
| Book Value | 2.911 |
| City | Palo Alto |
| Compensation As Of Epoch Date | 1,767,139,200 |
| Compensation Risk | 8 |
| Country | United States |
| Crypto Tradeable | 0 |
| Currency | USD |
| Current Price | 12.815 |
| Current Ratio | 20.545 |
| Custom Price Alert Confidence | HIGH |
| Date Short Interest | 1,790,726,400 |
| Day High | 12.865 |
| Day Low | 11.3501 |
| Debt To Equity | 4.442 |
| Display Name | D-Wave Quantum |
| Dividend Yield | 0.0 |
| Earnings Call Timestamp End | 1,786,017,600 |
| Earnings Call Timestamp Start | 1,786,017,600 |
| Earnings Timestamp | 1,786,019,400 |
| Earnings Timestamp End | 1,793,881,800 |
| Earnings Timestamp Start | 1,793,881,800 |
| Ebitda | -161,195,008 |
| Ebitda Margins | 0.0 |
| Enterprise To Ebitda | -26.519 |
| Enterprise To Revenue | 344.041 |
| Enterprise Value | 4,274,710,784 |
| Eps Current Year | -0.29294 |
| Eps Forward | -0.37765 |
| Eps Trailing Twelve Months | -0.66 |
| Esg Populated | 0 |
| Exchange | NMS |
| Exchange Data Delayed By | 15 |
| Exchange Timezone Name | America/New_York |
| Exchange Timezone Short Name | EDT |
| Fifty Day Average | 17.4871 |
| Fifty Day Average Change | -4.672101 |
| Fifty Day Average Change Percent | -0.26717412 |
| Fifty Two Week Change Percent | -70.26693 |
| Fifty Two Week High | 45.13 |
| Fifty Two Week High Change | -32.315002 |
| Fifty Two Week High Change Percent | -0.7160426 |
| Fifty Two Week Low | 11.3501 |
| Fifty Two Week Low Change | 1.4649 |
| Fifty Two Week Low Change Percent | 0.12906495 |
| Fifty Two Week Range | 11.3501 - 45.13 |
| Financial Currency | USD |
| First Trade Date Milliseconds | 1,607,697,000,000 |
| Float Shares | 361,992,993 |
| Forward Eps | -0.37765 |
| Forward P E | -33.933537 |
| Free Cashflow | -73,379,872 |
| Full Exchange Name | NasdaqGS |
| Full Time Employees | 382 |
| Fullday Change | 0.77000046 |
| Fullday Change Percent | 6.4006686 |
| Fullday Price | 12.815 |
| Gmt Off Set Milliseconds | -14,400,000 |
| Governance Epoch Date | 1,790,812,800 |
| Gross Margins | 0.64185 |
| Gross Profits | 7,975,000 |
| Has Pre Post Market Data | 1 |
| Held Percent Insiders | 0.022130001 |
| Held Percent Institutions | 0.54999 |
| Implied Shares Outstanding | 379,626,628 |
| Industry | Computer Hardware |
| Industry Disp | Computer Hardware |
| Industry Key | computer-hardware |
| Ipo Expected Date | 2,026-07-27 |
| Is Earnings Date Estimate | 1 |
| Language | en-US |
| Last Fiscal Year End | 1,767,139,200 |
| Long Business Summary | D-Wave Quantum Inc. engages in the development and delivery of quantum computing systems, software, and services worldwide. It provides Advantage and Advantage 2 quantum computers; Ocean, a suite of open-source tools; and Leap quantum cloud service, a cloud-based service that provides real-time access to quantum computers and quantum hybrid solvers; and secure access and data protection services, as well as Ocean software development kit (SDK), a Python-based SDK for developers to learn and build applications on company's server. The company also provides Leap hybrid solver service that offers a combination of quantum and classical computation resources and advanced algorithms to solve problems of enterprise scale; and D-Wave Launch, a phased approach to identify and build in-production quantum hybrid applications, including training sessions and quantum computing access. In addition, the company offers D-Wave Advantage annealing quantum computing systems; and Ocean developer tools. Its quantum solutions are used in allocation, resource scheduling, factory scheduling, vehicle routing, logistics optimization, drug discovery, industrial construction design, portfolio optimization and maintenance, repair, and overhaul optimization. The company has a collaboration with the University of Arkansas to establish leadership, education, and independent research focused on the application of quantum computing to supply chain management across retail, transportation, and national defense. D-Wave Quantum Inc. was founded in 1999 and is based in Palo Alto, California. |
| Long Name | D-Wave Quantum Inc. |
| Market | us_market |
| Market Cap | 4,864,914,944 |
| Market State | POSTPOST |
| Max Age | 86,400 |
| Message Board Id | finmb_763109 |
| Most Recent Quarter | 1,782,777,600 |
| Name Change Date | 2,026-10-16 |
| Net Income To Common | -248,696,992 |
| Next Fiscal Year End | 1,798,675,200 |
| Non Diluted Market Cap | 6,381,523,615 |
| Number Of Analyst Opinions | 16 |
| Open | 11.53 |
| Operating Cashflow | -110,880,000 |
| Operating Margins | -17.32055 |
| Overall Risk | 6 |
| Phone | 604 285 2881 |
| Post Market Change | -0.07499981 |
| Post Market Change Percent | -0.5852502 |
| Post Market Price | 12.74 |
| Post Market Time | 1,792,108,756 |
| Prev Name | DPCM Capital, Inc. |
| Previous Close | 12.03 |
| Price Eps Current Year | -43.74616 |
| Price Hint | 2 |
| Price To Book | 4.402267 |
| Price To Sales Trailing12 Months | 391.54245 |
| Profit Margins | 0.0 |
| Quick Ratio | 20.197 |
| Quote Source Name | Nasdaq Real Time Price |
| Quote Type | EQUITY |
| Recommendation Key | strong_buy |
| Recommendation Mean | 1.29412 |
| Region | US |
| Regular Market Change | 0.785 |
| Regular Market Change Percent | 6.52535 |
| Regular Market Day High | 12.865 |
| Regular Market Day Low | 11.3501 |
| Regular Market Day Range | 11.3501 - 12.865 |
| Regular Market Open | 11.53 |
| Regular Market Previous Close | 12.03 |
| Regular Market Price | 12.815 |
| Regular Market Time | 1,792,094,400 |
| Regular Market Volume | 23,659,204 |
| Return On Assets | -0.1065 |
| Return On Equity | -0.27985 |
| Revenue Growth | -0.006 |
| Revenue Per Share | 0.035 |
| Sand P52 Week Change | 0.16440773 |
| Sector | Technology |
| Sector Disp | Technology |
| Sector Key | technology |
| Share Holder Rights Risk | 8 |
| Shares Outstanding | 376,450,532 |
| Shares Percent Shares Out | 0.1867 |
| Shares Short | 70,893,069 |
| Shares Short Previous Month Date | 1,788,134,400 |
| Shares Short Prior Month | 71,469,896 |
| Short Name | D-Wave Quantum Inc. |
| Short Percent Of Float | 0.21209998 |
| Short Ratio | 4.53 |
| Source Interval | 15 |
| State | CA |
| Symbol | QBTS |
| Target High Price | 43.0 |
| Target Low Price | 18.36 |
| Target Mean Price | 34.6475 |
| Target Median Price | 36.0 |
| Total Cash | 546,214,976 |
| Total Cash Per Share | 1.467 |
| Total Debt | 48,108,000 |
| Total Revenue | 12,425,000 |
| Tradeable | 0 |
| Trailing Annual Dividend Rate | 0.0 |
| Trailing Annual Dividend Yield | 0.0 |
| Trailing Eps | -0.66 |
| Trailing Peg Ratio | None |
| Triggerable | 1 |
| Two Hundred Day Average | 20.3033 |
| Two Hundred Day Average Change | -7.4883013 |
| Two Hundred Day Average Change Percent | -0.36882186 |
| Type Disp | Equity |
| Volume | 23,659,204 |
| Website | https://www.dwavequantum.com |
| Zip | 94,303 |