D-Wave Quantum Inc. (QBTS)Technology | Computer Hardware | Palo Alto, United States | NYSE
18.95 USD
+0.29
(1.554%)
⇧
(July 14, 2026, 4:04 p.m.
EDT)
After hours: 18.98 +0.03 (0.158%) ⇧ (July 14, 2026, 7:59 p.m. EDT) |
Hot Take ↕ | July 11, 2026, 5:56 a.m. EDT
The investment thesis here is fractured by a stark contradiction between the company's operational reality and its market pricing. Fundamentally, D-Wave is in a severe freefall; revenue has collapsed by 81% year-over-year, and the business is burning cash with negative operating margins. The balance sheet, while currently liquid due to cash reserves, supports a struggling operation, not a thriving one. The recent surge in stock price is likely driven by speculative hype surrounding quantum computing breakthroughs rather than sustainable earnings power. However, the options market tells a different story of uncertainty. The heavy concentration of call open interest far out-of-the-money suggests investors are waiting for a 'quantum leap' in valuation, while the put activity near the money acts as a hedge against the inevitable correction if the hype cycle stalls. The statistical forecasting model offers no guidance, reflecting the noise inherent in trading such a volatile, speculative asset. For the short term, the stock is a coin flip caught between a potential catalyst-driven rally and a fundamental reality check. For the long term, the lack of revenue growth and negative returns on equity make it a poor candidate for a traditional buy-and-hold strategy until the business model proves it can generate consistent income. The current price is a premium paid for hope, not performance. |
| Model | MAE |
|---|---|
| MSTL ✓ | 0.248557 |
| AutoETS | 0.267413 |
| AutoTheta | 0.275877 |
| AutoARIMA | 0.308132 |
Forecast horizon: 45 days | Selected: MSTL
| Forecast Reliability | |
|---|---|
| Score | 33% |
| H-stat | 2.62 |
| Ljung-Box p | 0.000 |
| Jarque-Bera p | 0.909 |
| Excess Kurtosis | -0.32 |
| Attribute | Value |
|---|---|
| Sector | Technology |
| Debt to Equity Ratio | 4.165 |
| Revenue per Share | 0.036 |
| Market Cap | 7,019,936,768 |
| Forward P/E | -48.59 |
| Beta | 2.10 |
| Previous Name | DPCM Capital, Inc. |
| Website | https://www.dwavequantum.com |
As of July 11, 2026, 5:56 a.m. EDT: Speculators are positioning for extreme volatility rather than a specific directional outcome. Call open interest is heavily skewed out-of-the-money (OTM) with massive walls at strikes like $30 and $41, while put open interest is concentrated near the money ($18-$20) and slightly OTM ($23). This distribution suggests traders are betting on a binary event or a massive gap-up/down move rather than a steady grind higher. The implied volatility surface shows significant spikes at deep OTM strikes for both calls and puts, indicating fear of a crash or a moonshot rally.
| Attribute | Value |
|---|---|
| 52 Week Change | 0.15541792 |
| Address1 | 2,650 East Bayshore Road |
| All Time High | 46.75 |
| All Time Low | 0.396 |
| Ask | 0.0 |
| Ask Size | 300 |
| Audit Risk | 2 |
| Average Analyst Rating | 1.2 - Strong Buy |
| Average Daily Volume10 Day | 18,868,070 |
| Average Daily Volume3 Month | 35,103,532 |
| Average Volume | 35,103,532 |
| Average Volume10Days | 18,868,070 |
| Beta | 2.1 |
| Bid | 0.0 |
| Bid Size | 700 |
| Board Risk | 4 |
| Book Value | 3.038 |
| 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 | 18.95 |
| Current Ratio | 21.41 |
| Custom Price Alert Confidence | HIGH |
| Date Short Interest | 1,782,777,600 |
| Day High | 19.255 |
| Day Low | 18.65 |
| Debt To Equity | 4.165 |
| Display Name | D-Wave Quantum |
| Earnings Call Timestamp End | 1,778,587,200 |
| Earnings Call Timestamp Start | 1,778,587,200 |
| Earnings Timestamp | 1,778,589,000 |
| Earnings Timestamp End | 1,786,019,400 |
| Earnings Timestamp Start | 1,786,019,400 |
| Ebitda | -138,814,000 |
| Ebitda Margins | 0.0 |
| Enterprise To Ebitda | -46.597 |
| Enterprise To Revenue | 519.792 |
| Enterprise Value | 6,468,289,536 |
| Eps Current Year | -0.30733 |
| Eps Forward | -0.39 |
| Eps Trailing Twelve Months | -1.16 |
| Esg Populated | 0 |
| Exchange | NYQ |
| Exchange Data Delayed By | 0 |
| Exchange Timezone Name | America/New_York |
| Exchange Timezone Short Name | EDT |
| Fifty Day Average | 23.5888 |
| Fifty Day Average Change | -4.6387997 |
| Fifty Day Average Change Percent | -0.19665264 |
| Fifty Two Week Change Percent | 15.541792 |
| Fifty Two Week High | 46.75 |
| Fifty Two Week High Change | -27.8 |
| Fifty Two Week High Change Percent | -0.5946524 |
| Fifty Two Week Low | 12.75 |
| Fifty Two Week Low Change | 6.200001 |
| Fifty Two Week Low Change Percent | 0.48627457 |
| Fifty Two Week Range | 12.75 - 46.75 |
| Financial Currency | USD |
| First Trade Date Milliseconds | 1,607,697,000,000 |
| Float Shares | 358,154,141 |
| Forward Eps | -0.39 |
| Forward P E | -48.58975 |
| Free Cashflow | -63,507,248 |
| Full Exchange Name | NYSE |
| Full Time Employees | 382 |
| Gmt Off Set Milliseconds | -14,400,000 |
| Governance Epoch Date | 1,782,864,000 |
| Gross Margins | 0.66273004 |
| Gross Profits | 8,247,000 |
| Has Pre Post Market Data | 1 |
| Held Percent Insiders | 0.02192 |
| Held Percent Institutions | 0.49019 |
| Implied Shares Outstanding | 370,445,170 |
| Industry | Computer Hardware |
| Industry Disp | Computer Hardware |
| Industry Key | computer-hardware |
| 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. 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 | 7,019,936,768 |
| Market State | PREPRE |
| Max Age | 86,400 |
| Message Board Id | finmb_763109 |
| Most Recent Quarter | 1,774,915,200 |
| Name Change Date | 2,026-07-14 |
| Net Income To Common | -367,998,016 |
| Next Fiscal Year End | 1,798,675,200 |
| Non Diluted Market Cap | 6,912,506,871 |
| Number Of Analyst Opinions | 15 |
| Open | 18.92 |
| Operating Cashflow | -97,663,000 |
| Operating Margins | -19.14871 |
| Overall Risk | 6 |
| Payout Ratio | 0.0 |
| Phone | 604 285 2881 |
| Post Market Change | 0.02999878 |
| Post Market Change Percent | 0.1583049 |
| Post Market Price | 18.98 |
| Post Market Time | 1,784,073,590 |
| Prev Name | DPCM Capital, Inc. |
| Previous Close | 18.66 |
| Price Eps Current Year | -61.660107 |
| Price Hint | 2 |
| Price To Book | 6.2376566 |
| Price To Sales Trailing12 Months | 564.1222 |
| Profit Margins | 0.0 |
| Quick Ratio | 21.126 |
| Quote Source Name | Nasdaq Real Time Price |
| Quote Type | EQUITY |
| Recommendation Key | strong_buy |
| Recommendation Mean | 1.21429 |
| Region | US |
| Regular Market Change | 0.290001 |
| Regular Market Change Percent | 1.55413 |
| Regular Market Day High | 19.255 |
| Regular Market Day Low | 18.65 |
| Regular Market Day Range | 18.65 - 19.255 |
| Regular Market Open | 18.92 |
| Regular Market Previous Close | 18.66 |
| Regular Market Price | 18.95 |
| Regular Market Time | 1,784,059,467 |
| Regular Market Volume | 15,663,937 |
| Return On Assets | -0.11784001 |
| Return On Equity | -0.5527 |
| Revenue Growth | -0.809 |
| Revenue Per Share | 0.036 |
| Sand P52 Week Change | 0.20365608 |
| Sector | Technology |
| Sector Disp | Technology |
| Sector Key | technology |
| Share Holder Rights Risk | 8 |
| Shares Outstanding | 367,269,074 |
| Shares Percent Shares Out | 0.1707 |
| Shares Short | 63,219,621 |
| Shares Short Previous Month Date | 1,780,012,800 |
| Shares Short Prior Month | 54,641,862 |
| Short Name | D-Wave Quantum Inc. |
| Short Percent Of Float | 0.19450001 |
| Short Ratio | 1.92 |
| Source Interval | 15 |
| State | CA |
| Symbol | QBTS |
| Target High Price | 45.0 |
| Target Low Price | 22.0 |
| Target Mean Price | 37.38533 |
| Target Median Price | 40.0 |
| Total Cash | 588,395,008 |
| Total Cash Per Share | 1.591 |
| Total Debt | 46,820,000 |
| Total Revenue | 12,444,000 |
| Tradeable | 0 |
| Trailing Annual Dividend Rate | 0.0 |
| Trailing Annual Dividend Yield | 0.0 |
| Trailing Eps | -1.16 |
| Trailing Peg Ratio | None |
| Triggerable | 1 |
| Two Hundred Day Average | 24.0775 |
| Two Hundred Day Average Change | -5.1274986 |
| Two Hundred Day Average Change Percent | -0.2129581 |
| Type Disp | Equity |
| Volume | 15,663,937 |
| Website | https://www.dwavequantum.com |
| Zip | 94,303 |