D-Wave Quantum reports record revenue growth of over 500%

In May 2025, D-Wave Quantum Inc., a prominent company in the quantum computing sector, announced significant financial results for the first quarter of fiscal 2025. The company, located in the United States, reported a record revenue of $15 million, which reflects a remarkable increase of over 500% compared to the same period last year when revenue was only $2.5 million. This surge in revenue is attributed primarily to the successful sale of a high-margin annealing quantum computing system, indicating a pivotal shift in the company’s market strategy towards more profitable products. The increase in revenue was accompanied by a notable rise in gross profit, which reached $13.9 million, suggesting that the sales of high-margin systems were not only plentiful but also considerably profitable. D-Wave's customer base has also expanded, growing to 133 total customers, which now includes 69 commercial users, among which are 25 firms listed in the Forbes Global 2000. This expansion of clientele highlights D-Wave's increasing appeal within the competitive landscape of quantum computing technology and reflects positively on its branding efforts. Given the company’s performance, D-Wave's management is optimistic about sustaining this growth trajectory. This is reinforced by the high-demand for their Advantage quantum systems, which have been designed to cater to a variety of use cases, including optimization, artificial intelligence, and advanced research. The strong customer adoption and increased engagement suggest that D-Wave's technology is successfully meeting market needs and unlocking new revenue streams outside its traditional offerings. The record results also emphasize the risks and uncertainties inherent in the technology sector, as the company mentioned challenges that could potentially affect future performance. While the current data indicates promising growth, the management has advised stakeholders to be cautious and not overly reliant on these forward-looking statements due to potential variations in market conditions and other unforeseen factors.