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D-Wave Quantum (NYSE: QBTS) announced its participation in the upcoming Reuters Supply Chain USA 2024 conference in Atlanta, GA, on May 22-23, 2024.
As a leader in quantum computing systems, D-Wave aims to address supply chain optimization challenges using quantum and hybrid-quantum solutions. The conference will gather over 700 senior supply chain professionals to explore innovative strategies for supply chain resilience and risk mitigation.
Murray Thom, VP of quantum technology evangelism at D-Wave, will discuss how quantum computing can solve complex supply chain issues, enhance adaptability, and drive sustainability.
This participation aligns with D-Wave’s growth strategy to promote quantum computing adoption in key sectors like logistics and manufacturing.
D-Wave and the University of Southern California have renewed their multiyear partnership, with USC continuing to host D-Wave's Advantage quantum system. This collaboration supports USC's quantum research and education efforts, providing real-time access to D-Wave's quantum cloud service. The partnership aims to tackle optimization challenges across various industries, showcasing the power of annealing quantum computing. The agreement also aligns with USC's Frontiers of Computing initiative, emphasizing advancements in AI, robotics, and quantum computing.
D-Wave Quantum Inc. (QBTS) reported strong first quarter 2024 results with revenue up 56% year over year, bookings up 54%, and gross profit up 294%. The company highlighted technical milestones achieved with the Advantage2TM prototype and fast-anneal feature. D-Wave renewed a partnership with USC, worked on quantum-powered optimization applications, and announced its tenth Qubits quantum computing conference. Financially, revenue reached $2.5 million, bookings totaled $4.5 million, and GAAP gross profit was $1.7 million. The company saw growth in commercial traction, with an increase in customers and revenue from commercial and Forbes Global 2000 customers. D-Wave's GAAP gross margin was 67.3%, with net loss decreasing to $17.3 million. The company reported positive balance sheet and liquidity metrics with a consolidated cash balance of $27.3 million and reiterating full year 2024 financial guidance.
D-Wave Quantum Inc. (NYSE: QBTS) will be showcasing its quantum computing advancements at the 19th Annual Needham Technology, Media and Consumer Conference. CEO Dr. Alan Baratz will lead a fireside chat on May 16, 2024, discussing the company's latest developments and strategic direction.
D-Wave Quantum Inc. (NYSE: QBTS) announced that it will release its financial results for the first quarter of fiscal year 2024 on May 13, 2024. The company will host a conference call to discuss the results and business outlook, with CEO Dr. Alan Baratz and CFO John Markovich participating.
The press release will be available on the D-Wave Investor Relations website. Investors can join the conference call to learn more about the company's performance and future prospects.
