Overview
- S&P Global Market Intelligence reports D‑Wave shares rose 211.4% in 2025, following an 854% gain in 2024.
- Shares spiked 51% after Q1 2025 results beat expectations with $15 million in revenue and $0.02 in EPS versus a forecast loss.
- Analysts turned more bullish late in 2025, with B. Riley lifting its price target to $33 and Roth Capital to $50.
- D‑Wave formed a U.S. government-focused unit in December, and a Bloomberg report said the administration is seeking to spur quantum development.
- In January 2026 the company closed a roughly $550 million Quantum Circuits acquisition and set a 2026 goal for an initial error-corrected dual‑rail gate system, while shares are about 2% lower year to date.