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D-Wave Quantum Inc. (symbol: QBTS) is a pioneering company in the field of quantum computing. Leveraging advanced quantum systems, software, and services, D-Wave Quantum is setting a new standard in computational power and efficiency. Founded with the mission to harness the unique capabilities of quantum mechanics, the company delivers value across a range of industries.
From logistics and artificial intelligence to materials sciences and drug discovery, D-Wave’s quantum solutions address some of the most complex problems in modern science and business. Their technology is applied in optimizing scheduling, enhancing cybersecurity, improving fault detection processes, and advancing financial modeling. This broad applicability underscores the versatility and significance of their quantum computing solutions.
Headquartered in the United States, D-Wave Quantum Inc. generates a significant portion of its revenue domestically but maintains a global footprint. The company’s recent achievements include the development of new quantum algorithms that enhance computational speed and accuracy, as well as successful partnerships with leading entities in various sectors. These collaborations have led to practical quantum applications that deliver measurable improvements in efficiency and problem-solving capabilities.
Financially, D-Wave Quantum is focused on sustainable growth, ensuring that its advancements in technology translate to tangible customer value and shareholder returns. Their commitment to innovation is evident in their continuous research and development efforts, aimed at pushing the boundaries of what quantum computing can achieve.
Stay updated with the latest developments, financial performance, and strategic initiatives of D-Wave Quantum Inc. as they continue to lead the charge in the quantum computing revolution.
D-Wave Quantum (NYSE: QBTS) has appointed Sharon Holt to its board of directors, following the October 2024 additions of John DiLullo and Rohit Ghai. Holt brings extensive experience in technology, having served as principal at Fraser Stuart Ventures and former senior VP at Rambus Inc. She currently serves on Infinera Corp.'s board and previously chaired Immersion 's board. The appointment aligns with D-Wave's strategy to accelerate the adoption of its annealing quantum computing solutions and strengthen its market position as the world's first commercial quantum computing company.
D-Wave Quantum reported Q3 2024 financial results with mixed performance. QCaaS revenue grew 41% year-over-year to $1.6M, while total revenue decreased 27% to $1.9M due to lower professional services revenue. The company reported a net loss of $22.7M, up 41% from prior year. Year-to-date highlights include 11% revenue growth and 54% increase in GAAP gross profit.
Notable developments include NTT DOCOMO's planned production deployment for network optimization, completion of a 4,400-qubit Advantage2 processor calibration, and being deemed 'awardable' on the US Department of Defense's Tradewinds platform. The company maintains its fiscal 2024 guidance expecting Adjusted EBITDA Loss to be less than FY2023's $54.3M.
D-Wave Quantum (NYSE:QBTS) announced its participation in the Quantum Technologies Forum at the University of Southern California (USC), highlighting advancements in annealing quantum computing technology and real-world applications. The event underscores D-Wave's partnership with USC, which became the first U.S. organization to host a D-Wave Advantage quantum computing system in 2022. The system, accessible through D-Wave's Leap cloud service, supports USC's research in areas like protein binding classification and quantum coherence. With 5,000+ qubits, it's currently the world's largest quantum computer, serving enterprise users, researchers, and public sector organizations.
D-Wave Quantum (NYSE: QBTS) has successfully calibrated and benchmarked its new 4,400+ qubit Advantage2™ processor, marking a significant advancement in quantum computing. The sixth-generation system demonstrates substantial performance improvements over the current Advantage™ system, solving problems 25,000 times faster and delivering five times better solutions for high-precision tasks. Key improvements include doubled qubit coherence time, a 40% increase in energy scale, and enhanced qubit connectivity from 15 to 20-way. The processor outperforms the current system in 99% of satisfiability problem tests, showing particular strength in optimization, AI, and materials science applications.
D-Wave Quantum (NYSE: QBTS) has successfully regained compliance with the NYSE's continued listing standards regarding minimum share price requirements. The company received confirmation from NYSE on November 1, 2024, after maintaining an average closing share price above the required $1.00 threshold during the 30 trading days ending October 31, 2024. D-Wave will continue trading on the NYSE, provided it maintains compliance with all applicable listing standards.
D-Wave Quantum (NYSE: QBTS) announced it will release its third quarter fiscal 2024 financial results on November 14, 2024, before market open. The company will host a conference call at 8:00 a.m. Eastern Time on the same day to discuss financial results and business outlook. CEO Dr. Alan Baratz and CFO John Markovich will participate in the call. The earnings release will be available on D-Wave's Investor Relations website.
D-Wave Quantum (NYSE:QBTS) has achieved 'Awardable' status in the Department of Defense's Chief Digital and Artificial Intelligence Office's Tradewinds Solutions Marketplace. This designation enables DoD customers to access D-Wave's annealing quantum computing technologies alongside AI/ML, data, and analytics capabilities. The company, recognized for its real-time cloud-accessible quantum computer and optimization applications, collaborated with Clipper Defense to demonstrate use cases in supply chain optimization and transportation logistics. The marketplace inclusion validates D-Wave's technology meets US government standards and positions them to support DoD's mission objectives.
D-Wave Quantum (NYSE: QBTS) has appointed two new board members, John DiLullo and Rohit Ghai, to support its market expansion strategy. DiLullo, currently CEO of Deepwatch, brings over 30 years of technology experience and expertise in growth transformation. Ghai, CEO of RSA, contributes extensive experience in digital transformation and regulated markets. These appointments come as D-Wave executes an aggressive go-to-market strategy to accelerate the adoption of its annealing quantum computing solutions across global businesses, research institutions, and government agencies.
D-Wave Quantum Inc. (NYSE: QBTS) announced its participation in the 2024 INFORMS Annual Meeting, Oct. 20-23, in Seattle. The company will showcase how quantum optimization can surpass classical solvers for complex real-world problems. Key highlights include:
1. A Technology Showcase presentation by Murray Thom on quantum solutions for complex optimization problems.
2. An exhibitor workshop led by Catherine Potts on quantum computing fundamentals and applications.
3. Recruitment efforts for positions in quantum optimization.
4. Live demonstrations of D-Wave's Leap™ quantum cloud service at Booth 206.
5. Offering attendees consultations and a chance for a complimentary proof-of-technology project.
D-Wave aims to demonstrate how quantum-powered solutions can drive efficiencies in logistics, manufacturing, and supply chain management.
D-Wave Quantum Inc. (NYSE: QBTS) has received a notice from the New York Stock Exchange (NYSE) on October 2, 2024, stating that it is not in compliance with the NYSE Listed Company Manual due to its average closing stock price falling below $1.00 over a consecutive 30 trading-day period. The company has a six-month cure period to regain compliance by achieving a closing share price of at least $1.00 and an average closing share price of at least $1.00 over a 30 trading-day period.
D-Wave has notified the NYSE of its intention to cure the stock price deficiency and return to compliance. The company is considering various options, including a potential reverse stock split subject to shareholder approval. During this period, D-Wave's common stock will continue to be listed and traded on the NYSE, provided it complies with other NYSE continued listing standards.
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