D-Wave Quantum (QBTS) Projected to Post Earnings on Thursday

D-Wave Quantum (NYSE:QBTS) will likely be announcing its Q2 2026 results before the market opens on Thursday, August 6th. Analysts expect D-Wave Quantum to post earnings of ($0.08) per share and revenue of $4.0240 million for the quarter. Interested persons can find conference call details on the company’s upcoming Q2 2026 earning report for the latest details on the call scheduled for Thursday, August 6, 2026 at 8:00 AM ET.

D-Wave Quantum (NYSE:QBTS) last issued its earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. The company had revenue of $2.86 million during the quarter, compared to analysts’ expectations of $4.19 million. During the same period last year, the company posted ($0.02) earnings per share. The firm’s quarterly revenue was down 80.9% compared to the same quarter last year. On average, analysts expect D-Wave Quantum to post $-0 EPS for the current fiscal year and $-0 EPS for the next fiscal year.

D-Wave Quantum Price Performance

QBTS stock opened at $16.18 on Thursday. The firm has a 50 day moving average of $22.93 and a 200-day moving average of $20.97. D-Wave Quantum has a 12-month low of $12.75 and a 12-month high of $46.75. The company has a current ratio of 21.41, a quick ratio of 21.31 and a debt-to-equity ratio of 0.03. The company has a market cap of $5.99 billion, a price-to-earnings ratio of -14.32 and a beta of 2.11.

Analyst Upgrades and Downgrades

QBTS has been the subject of several research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $43.00 price objective on shares of D-Wave Quantum in a report on Tuesday. Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 price target on shares of D-Wave Quantum in a research report on Wednesday, May 13th. B. Riley Financial raised their price target on D-Wave Quantum from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Weiss Ratings raised D-Wave Quantum from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd. Finally, Zacks Research upgraded shares of D-Wave Quantum from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.47.

Insider Buying and Selling at D-Wave Quantum

In related news, CEO Alan E. Baratz sold 687,627 shares of D-Wave Quantum stock in a transaction on Monday, June 8th. The stock was sold at an average price of $26.13, for a total value of $17,967,693.51. Following the transaction, the chief executive officer owned 3,299,771 shares in the company, valued at approximately $86,223,016.23. This trade represents a 17.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John M. Markovich sold 328,752 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $27.70, for a total transaction of $9,106,430.40. Following the completion of the sale, the chief financial officer directly owned 1,442,820 shares of the company’s stock, valued at $39,966,114. The trade was a 18.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,363,842 shares of company stock worth $35,789,148. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On D-Wave Quantum

Several institutional investors and hedge funds have recently modified their holdings of QBTS. Silicon Valley Capital Partners acquired a new position in D-Wave Quantum during the 3rd quarter worth approximately $86,000. Toronto Dominion Bank acquired a new stake in D-Wave Quantum in the fourth quarter valued at approximately $63,000. Danske Bank A S acquired a new stake in D-Wave Quantum in the third quarter valued at approximately $62,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of D-Wave Quantum by 127.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,333 shares of the company’s stock valued at $58,000 after purchasing an additional 1,307 shares during the period. Finally, Banque Transatlantique SA acquired a new position in shares of D-Wave Quantum during the third quarter worth $54,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

More D-Wave Quantum News

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: AT&T partnership provides commercial validation. AT&T is expanding its use of D-Wave’s quantum-annealing technology for network operations. A reported benchmark reduced a network optimization task from approximately 60 minutes to 15 seconds, or a 240-fold acceleration, supporting the view that D-Wave’s technology is moving beyond research into practical enterprise applications. D-Wave Expands AT&T Partnership
• Positive Sentiment: Analysts and recent business momentum remain supportive. Benchmark initiated coverage with a Buy rating and a $30 price target, while Rosenblatt reaffirmed its Buy rating with a $43 target. Analysts also point to record bookings, an expanding backlog and stronger commercial traction as advantages over Rigetti ahead of earnings. RGTI vs. QBTS
• Neutral Sentiment: Second-quarter earnings are the next major catalyst. Results could either support the recent commercial narrative or intensify concerns if bookings and revenue do not demonstrate meaningful improvement. The company’s latest reported quarter included an adjusted loss that was better than expected, but revenue significantly missed estimates and fell sharply year over year.
• Negative Sentiment: Quantum stocks are undergoing a broad valuation reset. D-Wave, IonQ and Rigetti have all suffered substantial recent declines as investors reduced exposure to high-multiple, pre-profit technology companies. Concerns about AI-infrastructure spending and profit-taking after the sector’s earlier rally are weighing on QBTS independently of its AT&T opportunity. Quantum Computing Stock Selloff
• Negative Sentiment: Profitability and insider selling remain risks. D-Wave remains unprofitable, making the stock dependent on future contract growth and commercialization. Separately, Vice President Sophie Ames sold 3,070 shares for about $52,000 under a pre-arranged Rule 10b5-1 plan. The sale reduced her holdings by only 0.52%, so its impact is limited but mildly negative. SEC Insider Filing

About D-Wave Quantum

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.