D-Wave Successfully Completes SOC 2 Audit

Rhea-AI Summary

D-Wave Quantum Inc. (NYSE: QBTS) announces the successful completion of its SOC 2® Type 1 audit as of March 13, 2023, enhancing its commitment to data security as it aims to accelerate the commercial adoption of quantum computing solutions.

Conducted by A-LIGN, a leading compliance assessor, the SOC 2 audit ensures that D-Wave's systems protect customer data effectively. CEO Alan Baratz emphasized the importance of SOC 2 compliance in reassuring customers about their data's safety. The SOC 2 standard, established by the AICPA, serves organizations across industries, validating their commitment to data protection and cybersecurity measures.

D-Wave's ongoing compliance efforts reflect its strategic initiative to boost production readiness and customer confidence in its quantum technology solutions.

Positive

• Successful completion of SOC 2 Type 1 audit enhances credibility.
• Demonstrates commitment to data security and compliance, potentially attracting more clients.
• Alignment with industry standards could improve competitive positioning.

Negative

• None.

Audit furthers company’s commitment to security as it looks to accelerate commercial adoption of practical quantum computing solutions

BURNABY, British Columbia & PALO ALTO, Calif.--(BUSINESS WIRE)-- D-Wave Quantum Inc. (NYSE: QBTS), a leader in quantum computing systems, software, and services, and the only commercial provider building both annealing and gate-model quantum computers, today announced the successful completion of its SOC 2® Type 1 audit as of March 13, 2023, as it looks to rapidly accelerate the commercial adoption of its quantum computing solutions.

The SOC 2 audit was conducted by leading compliance assessor A-LIGN, a technology-enabled security and compliance partner trusted by more than 2,500 global organizations to help mitigate cybersecurity risks.

“As organizations increasingly turn to D-Wave to solve their most computationally complex business problems with quantum technology, we’re undergoing a series of initiatives designed to enhance our production and commercial readiness, including SOC 2 compliance,” said Dr. Alan Baratz, CEO of D-Wave. “The protection of our customers’ data is paramount, and we’re committed to initiatives like SOC 2 to ensure commercial-grade security measures are established and regularly reviewed.”

Established by the American Institute of Certified Public Accountants (AICPA), the SOC 2 examination is designed for organizations of any size, regardless of industry and scope, to ensure the personal assets of their potential and existing customers are protected. SOC 2 reports are recognized globally and affirm that a company’s infrastructure, software, people, data, policies, procedures, and operations have been formally reviewed.

“A SOC 2 audit is a statement about an organization’s commitment to protecting their information,” said Stephanie Oyler-Rankin, SOC Practice Lead at A-LIGN. “As a trusted third-party assessment firm, A-LIGN independently evaluates client data processes and procedures, governance on internal controls and security posture. D-Wave’s SOC 2 report validates its commitment to data security and protection, as well as compliance with critical standards to mitigate cybersecurity threats.”

D-Wave will regularly perform SOC 2 assessments and can make the report available to current or potential customers upon execution of a nondisclosure agreement. If you are interested in viewing D-Wave’s SOC 2 report, contact sales@dwavesys.com. For more information on D-Wave, visit www.dwavequantum.com.

About D-Wave Quantum Inc.

D-Wave is a leader in the development and delivery of quantum computing systems, software, and services, and is the world’s first commercial supplier of quantum computers—and the only company building both annealing quantum computers and gate-model quantum computers. Our mission is to unlock the power of quantum computing today to benefit business and society. We do this by delivering 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. D-Wave’s technology is being used by some of the world’s most advanced organizations, including Volkswagen, Mastercard, Deloitte, Davidson Technologies, ArcelorMittal, Siemens Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd., DENSO, Lockheed Martin, Forschungszentrum Jülich, University of Southern California, and Los Alamos National Laboratory.

About A-LIGN

A-LIGN uniquely delivers a single-provider approach as a licensed SOC 1 and SOC 2 Assessor, accredited ISO 27001, ISO 27701 and ISO 22301 Certification Body, HITRUST CSF Assessor firm, accredited FedRAMP 3PAO, candidate CMMC C3PAO, and Qualified Security Assessor Company. A-LIGN ASSURANCE is a licensed certified public accounting firm registered as Price and Associates CPAs, LLC. A-LIGN may refer to the entities of both A-LIGN and A-LIGN ASSURANCE collectively as A-LIGN. For more information, visit www.A-LIGN.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230427005137/en/

Amy McDowell

media@dwavesys.com

Source: D-Wave Quantum Inc.

FAQ

What does the completion of the SOC 2 audit mean for D-Wave Quantum (QBTS)?

The SOC 2 audit completion enhances D-Wave's credibility and demonstrates its commitment to data security, which may attract more customers.

When was the SOC 2 audit for D-Wave Quantum completed?

The SOC 2 audit for D-Wave Quantum was completed on March 13, 2023.

Who conducted the SOC 2 audit for D-Wave Quantum (QBTS)?

The SOC 2 audit was conducted by A-LIGN, a leading compliance assessor.

How does SOC 2 compliance benefit D-Wave Quantum's customers?

SOC 2 compliance assures customers that D-Wave has implemented strong security measures to protect their data.

What is D-Wave Quantum's goal with the SOC 2 audit?

D-Wave aims to accelerate commercial adoption of its quantum computing solutions by demonstrating its commitment to security.