D-Wave Quantum Inc. develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Launch, a quantum computing onboarding service; Ocean a full suite of open-source programming tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community. It also provides D-Wave Launch, a quantum professional service that guides enterprises from problem discovery through in-production application deployment. The company's quantum solutions are used in artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. It serves manufacturing and logistics, financial services, life sciences, and other industries. D-Wave Quantum Inc. is based in Burnaby, Canada.

D-Wave Quantum Inc.

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Assets	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Cash and Cash Equivalents	836.2	819.3	304.3	178	29.3	40.9
Cash and Cash Equivalents
Total Cash and Cash Equivalents	836.2	819.3	304.3	178	29.3	40.9
Accounts Receivable	1.9	1.4	1	1.4	1.5	1.6
Trade Accounts Receivable, Net
Other Receivables	—	—	—	—	—	—
Research Incentive Receivable
Total Trade Receivables	1.9	1.4	1	1.4	1.5	1.6
Inventories	2.8	2.4	1.7	1.7	1.9	2.1
Inventories
Other Current Assets	7.2	5.3	3.8	4	2.4	2.3
Prepaid Expenses and Other Current Assets
Deferred Offering Costs
Total Current Assets	848.1	828.5	310.9	185	35.1	46.9
Total Current Assets
Net Property, Plant & Equipment	12.3	11.4	11.1	11.4	11.1	10.8
Property and Equipment, Net
Operating Lease Right-of-Use Assets
Net Intangible Assets	0.8	0.6	0.5	0.5	0.4	0.4
Intangible Assets, Net
Other Long-Term Assets	4.6	3.1	3.1	2.9	3	3.7
Other Non-Current Assets, Net
Total Assets	865.8	843.6	325.6	199.9	49.6	61.8
Total Assets

Liabilities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Accounts Payable	1	1.2	1	0.8	0.7	1.2
Trade Accounts Payable
Accrued Expenses	9.5	11.6	6.6	8.8	6.6	5
Accrued Expenses and Other Current Liabilities
Short-Term Debt	0.1	—	0.3	0.3	14.1	32.7
Loans Payable, Net, Current
Promissory Notes - Related Party
Current Portion of Leases	1.5	1.6	1.5	1.5	1.6	1.5
Current Portion of Operating Lease Liabilities
Unearned Revenue	3.4	4.9	5.5	18.7	2.9	2.6
Deferred Revenue, Current
Total Current Liabilities	15.5	19.3	15	30.1	25.8	42.9
Total Current Liabilities
Long-Term Debt	32.1	32.1	30.4	30.1	32	31.5
Loans Payable, Noncurrent
Loans Payable, Net, Non-Current
Leases	6.1	6.3	6.2	6.4	7	6.8
Operating Lease Liabilities, Net of Current Portion
Other Long-Term Liabilities	141.6	91.7	66.6	70.5	1.7	2.1
Warrant Liabilities
Deferred Revenue, Non-Current
Other Noncurrent Liabilities
Total Long-Term Liabilities	179.8	130.1	103.2	107.1	40.6	40.4
Total Liabilities	195.3	149.3	118.2	137.2	66.5	83.3
Total Liabilities

Equity	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Preferred Stock	—	—	—	—	—	—
Non-Redeemable Convertible Preferred Stock
Common Stock	0	0	0	0	0	0
Common Stock
Additional Paid-in Capital	1,619.3	1,503.1	849.7	700.1	534.5	507.1
Additional Paid-in Capital
Accumulated Other Comprehensive Income	-9.1	-9.2	-10	-10.5	-10.6	-10.4
Accumulated Other Comprehensive Loss
Retained Earnings	-939.7	-799.7	-632.4	-626.9	-540.9	-518.2
Retained Earnings
Total Common Shareholders' Equity	670.6	694.3	207.4	62.6	-16.9	-21.5
Total Shareholders' Equity	670.6	694.3	207.4	62.6	-16.9	-21.5
Total Stockholders' Equity
Total Liabilities and Shareholders' Equity	865.8	843.6	325.6	199.9	49.6	61.8
Total Liabilities and Stockholders' Equity