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D-Wave Quantum Inc is in the development and delivery of quantum computing systems, software, and services, and it is the commercial supplier of quantum computers and the only company building both annealing quantum computers and gate-model quantum computers. It delivers customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. Its annealing quantum computers are accessible through the company’s LeapTM cloud service.
2022
220
LTM Revenue $12.7M
LTM EBITDA -$54.9M
$1.9B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
D-Wave Quantum has a last 12-month revenue of $12.7M and a last 12-month EBITDA of -$54.9M.
In the most recent fiscal year, D-Wave Quantum achieved revenue of $8.8M and an EBITDA of -$138M.
D-Wave Quantum expects next 12-month revenue of XXX and NTM EBITDA of XXX
See D-Wave Quantum valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $8.8M | $8.8M | XXX | XXX | XXX |
| Gross Profit | $4.3M | $4.6M | XXX | XXX | XXX |
| Gross Margin | 49% | 52% | XXX | XXX | XXX |
| EBITDA | -$80.8M | -$138M | XXX | XXX | XXX |
| EBITDA Margin | -923% | -1564% | XXX | XXX | XXX |
| Net Profit | -$51.5M | -$82.7M | XXX | XXX | XXX |
| Net Margin | -588% | -937% | XXX | XXX | XXX |
| Net Debt | $2.8M | $22.9M | XXX | XXX | XXX |
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As of April 15, 2025, D-Wave Quantum's stock price is $7.
D-Wave Quantum has current market cap of $2.0B, and EV of $1.9B.
See D-Wave Quantum trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $1.9B | $2.0B | XXX | XXX | XXX | XXX | $-0.34 |
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Sign UpAs of April 15, 2025, D-Wave Quantum has market cap of $2.0B and EV of $1.9B.
D-Wave Quantum's trades at 149.8x LTM EV/Revenue multiple, and -34.7x LTM EBITDA.
Analysts estimate D-Wave Quantum's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for D-Wave Quantum and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $1.9B | XXX | XXX | XXX |
| EV/Revenue | 215.9x | XXX | XXX | XXX |
| EV/EBITDA | -13.8x | XXX | XXX | XXX |
| P/E | -14.2x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | -42.3x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpD-Wave Quantum's NTM/LTM revenue growth is 105%
D-Wave Quantum's revenue per employee for the last fiscal year averaged $40K, while opex per employee averaged $0.4M for the same period.
Over next 12 months, D-Wave Quantum's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate D-Wave Quantum's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for D-Wave Quantum and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 1% | XXX | XXX | XXX | XXX |
| EBITDA Margin | -1564% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 71% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | -1459% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $40K | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.4M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 171% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 367% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 400% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 938% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
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| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Phoenix Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Macquarie Technology Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Nextdc | XXX | XXX | XXX | XXX | XXX | XXX |
| Tata Communications | XXX | XXX | XXX | XXX | XXX | XXX |
| Netweb Technologies India | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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D-Wave Quantum acquired XXX companies to date.
Last acquisition by D-Wave Quantum was XXXXXXXX, XXXXX XXXXX XXXXXX . D-Wave Quantum acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was D-Wave Quantum founded? | D-Wave Quantum was founded in 2022. |
| Where is D-Wave Quantum headquartered? | D-Wave Quantum is headquartered in United States of America. |
| How many employees does D-Wave Quantum have? | As of today, D-Wave Quantum has 220 employees. |
| Who is the CEO of D-Wave Quantum? | D-Wave Quantum's CEO is Dr. Alan Baratz. |
| Is D-Wave Quantum publicy listed? | Yes, D-Wave Quantum is a public company listed on NYS. |
| What is the stock symbol of D-Wave Quantum? | D-Wave Quantum trades under QBTS ticker. |
| When did D-Wave Quantum go public? | D-Wave Quantum went public in 2022. |
| Who are competitors of D-Wave Quantum? | Similar companies to D-Wave Quantum include e.g. Phoenix Group, Macquarie Technology Group, Nextdc, Tata Communications. |
| What is the current market cap of D-Wave Quantum? | D-Wave Quantum's current market cap is $2.0B |
| What is the current revenue of D-Wave Quantum? | D-Wave Quantum's last 12-month revenue is $12.7M. |
| What is the current EBITDA of D-Wave Quantum? | D-Wave Quantum's last 12-month EBITDA is -$54.9M. |
| What is the current EV/Revenue multiple of D-Wave Quantum? | Current revenue multiple of D-Wave Quantum is 149.8x. |
| What is the current EV/EBITDA multiple of D-Wave Quantum? | Current EBITDA multiple of D-Wave Quantum is -34.7x. |
| What is the current revenue growth of D-Wave Quantum? | D-Wave Quantum revenue growth between 2023 and 2024 was 1%. |
| Is D-Wave Quantum profitable? | Yes, D-Wave Quantum is EBITDA-positive (as of the last 12 months). |
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