Overview
- D‑Wave reported third‑quarter revenue of $4.5 million, a 21% year‑over‑year rise reported on Tuesday, November 10, 2026.
- The company said nine‑month bookings jumped to $37.4 million, a 611% increase, and remaining performance obligations reached $38.3 million, a 1,221% gain.
- Management expects roughly 59% of the RPO to convert to revenue in the next 12 months, making conversion pace the key near‑term test for sales growth.
- D‑Wave has conditional access to up to $100 million in U.S. CHIPS Act funding tied to milestone achievement and expanded commercial ties through deliveries and partnerships, including a 4,400+‑qubit annealer in Italy and deals with CGI, LG CNS and SkyWater.
- Costs rose sharply as operating expenses increased to $55.9 million and net loss hit $48.2 million, but the company held about $503.4 million in cash and securities, leaving runway while investors watch backlog conversion and milestone fulfillment.