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D-Wave Quantum stock

QBTSNASDAQ

D-Wave Quantum Inc., TechnologyISIN US26740W1099

$9.84▼ $0.81 (−7.6%)Closing price of 12 Nov 2026

34Score 34 out of 100, Weak

Turn on early warning

Price and trend

38 / 100

Price history

−63% in one year

The chart shows daily closes over 6 years, adjusted for stock splits and without dividends. Click into the chart to set a price alert at that price.

Long-term trend

Below the 200-day line: the price is 47% below it.

Trend change

Since March 2026 the 50-day line has been below the 200-day line; the trend has turned down.

Momentum

Normal: the price is neither overheated nor sold off (RSI 40).

Distance to the high

The price is 69% below its 52-week high. Largest decline in 6 years: 97% (August 2022 to May 2023).

Chart figures for advanced users
SMA 50$14.09
Average price of the last 50 trading days, shows the short-term trend.
SMA 200$18.57
Average price of the last 200 trading days, shows the long-term trend.
RSI (14)40
Relative strength over the last 14 days on a scale from 0 to 100. Above 70 the price counts as overheated, below 30 as sharply fallen.
MACDabove the signal line
Compares a fast and a slow price average. Above its signal line momentum is rising, below it momentum is fading.
Support$9.05
The lowest closing price of the last twelve months.
Resistance$32.19
The highest closing price of the last twelve months.
What would $1,000 in D-Wave Quantum have become?Return triangle for D-Wave Quantum
Market cap
$3.7B
Div. yield
no dividend
Loss
Loss expected
Fair value
no data

Snapshot

Computed from the data by fixed rules, no AI

  • D-Wave Quantum Inc. belongs to the Computer Hardware industry (United States) and, with a market value of $3.7B, is number 32 of 46 companies in its industry on MEQIRI.
  • In fiscal 2025 it reported revenue of $24.59M (up 178.5% year on year) and a loss of $355.06M.
  • For fiscal 2026, analysts expect on average revenue of $36.78M (up 49.6%) and adjusted earnings per share of −$0.29.
Show more
  • MEQIRI Score 34 out of 100 (Weak): rank 805 of 854 in Technology, median 61.

In plain words

The numbers on this page in plain words, written by an AI

Strengths

  • Growing faster than its industryRevenue up 36.7% a year since 2020, Computer Hardware median 4.9%.Growth 67
  • More cash than debtCash $503.36M, financial debt $56.88M.Stability 54

Weaknesses

  • DilutionShare count up 193% since 2020.Capital allocation 18
  • Volatile share priceVolatility 104% a year over the last 12 months.Stability 54
  • Share price fell sharplyDown 66% over the last 12 months.Momentum 12
34/ 100
MEQIRI Score
Weak

The score is held back by fundamentals and momentum.

Daily figure as of 13 Nov 2026

How the score is calculated

Score overview

Fundamental quality fluctuates.

Profit consistency0% of years
Cash conversion (free cash flow to earnings, 12 months)not measured
ROIC (12 months)−48.2%
Positive free cash flow0% of years
How this category is measured

Score history

The full history of up to 20 years comes with MEQIRI Pro.

See plans

Valuation

Valuation signal

not measured
Price
$9.84
Fair value
not computable
Gap to fair value
no data

No fair value can be calculated for this stock, so the signal follows the valuation grade.

Valuation metrics

no data
no data
Fair value (model)
no data

No fair value can be calculated for this stock from the available figures.

Calculate with your own assumptions

Company performance

This shows several years of history with an automatic assessment.

Revenue

6 years

In the twelve months to 30 Sep 2026, revenue fell 45.3% on the twelve months before. Revenue has grown strongly since 2020, at around 37% per year.

Margins

6 years
  • Gross margin
  • Operating margin
  • Net margin

In fiscal 2025: gross 83%, operating −408%, net −1444%. Last 12 months: net −100%.

Debt & balance sheet

latest quarter
0.05
−50x
17.31
Cash & equivalents
$503.36M

Debt is low, but interest coverage is weak. Keep an eye on the interest burden and refinancing.

Earnings

Next earnings
25 Feb 2027in 104 days
Last reported
10 Nov 2026EPS reported −$0.13 (expected −$0.10)below expectations

Analyst estimates

Earnings estimates have barely changed since 15 Oct 2026.

Fiscal 202611 analysts
Earnings per share
−$0.29+2.3%
Revenue
$36.78M−13.4%
Fiscal 202711 analysts
Earnings per share
−$0.38−1.2%
Revenue
$76M−6.0%

MEQIRI has stored the estimates since 15 Oct 2026. Until 30 days are available, the card shows the change since that day. Mean estimate according to Financial Modeling Prep. No price target and no recommendation.

Insiders

Open-market purchases and sales by executives, board members and major holders

All insider purchases

No open-market purchases in the last 6 months. 6 insiders sold, $36.81M in total.

Sales say less than purchases: many insiders sell on a fixed plan, for taxes or to diversify.

  • DiLullo John DSale

    8 Sept 2026, Board

    Shares
    1,100
    Price
    $18.00
    Value
    $19,801
  • Ames Sophie CSale

    20 Jul 2026, Exec. Vice President & CHRO

    Shares
    3,070
    Price
    $16.95
    Value
    $52,042
  • Ghai RohitSale

    15 Jun 2026, Board

    Shares
    13,518
    Price
    $26.41
    Value
    $357,055
Show 10 more
  • Markovich John M.Sale

    15 Jun 2026, Chief Financial Officer

    Shares
    200,000
    Price
    $25.72
    Value
    $5.14M
  • Markovich John M.Sale

    12 Jun 2026, Chief Financial Officer

    Shares
    46,043
    Price
    $24.01
    Value
    $1.11M
  • Markovich John M.Sale

    9 Jun 2026, Chief Financial Officer

    Shares
    70
    Price
    $26.54
    Value
    $1,858
  • Baratz Alan ESale

    8 Jun 2026, President & CEO

    Shares
    687,627
    Price
    $26.13
    Value
    $17.97M
  • Markovich John M.Sale

    8 Jun 2026, Chief Financial Officer

    Shares
    50,979
    Price
    $26.24
    Value
    $1.34M
  • DiLullo John DSale

    5 Jun 2026, Board

    Shares
    7,850
    Price
    $24.43
    Value
    $191,809
  • Markovich John M.Sale

    2 Jun 2026, Chief Financial Officer

    Shares
    2,908
    Price
    $31.00
    Value
    $90,148
  • Markovich John M.Sale

    22 May 2026, Chief Financial Officer

    Shares
    328,752
    Price
    $27.70
    Value
    $9.11M
  • Nguyen DianeSale

    21 May 2026, EVP, Chief Legal Officer & GC

    Shares
    40,000
    Price
    $25.01
    Value
    $1M
  • Ames Sophie CSale

    20 May 2026, Exec. Vice President & CHRO

    Shares
    23,025
    Price
    $18.98
    Value
    $436,934

Partial trades from one filing are shown in one row, with the average price.

Source: Form 4 filings with the US Securities and Exchange Commission. Grants, option exercises, gifts and tax withholdings are hidden. Not a recommendation to buy.

What happened at D-Wave Quantum

The key events of the last six months from our own data. A click takes you to the matching card.

Sector comparison

854 rated companies in Technology

Rank 805 of 854
805/ 854
This company
34
Sector median
61

Categories against the sector medianMedian of 854 companies

Profitability25 (median 59)34 below the median
Growth67 (median 68)1 below the median
Fundamentals17 (median 67)50 below the median
Stability54 (median 67)13 below the median
Capital allocation18 (median 53)35 below the median
Technical analysis38 (median 58)20 below the median
Momentum12 (median 54)42 below the median

The median is the middle value: half of the companies in the sector lie above it, half below. Categories with too few comparable companies are left out.

Competitors in Computer Hardware

The next larger and next smaller companies by market value

All 46 Computer Hardware stocks

ETFs that hold D-Wave Quantum

Held by 16 ETFs on Xetra. Shown per index: the ETF with the largest weight.

ETFWeightCostFund size
VanEck Quantum Computing UCITS ETFQUTM5.76%0.55%€675.63M
HAN-GINS Tech Megatrend Equal Weight UCITS ETF AccT3KE0.49%0.59%€98.84M
Xtrackers Russell 2000 UCITS ETF 1CXRS20.14%0.30%€2.22B
Show 5 more
State Street SPDR Russell 2000 U.S. Small Cap UCITS ETF (Acc)ZPRR0.13%0.30%€4.28B
Amundi MSCI Robotics & AI UCITS ETF AccGOAI0.08%0.40%€1.17B
iShares MSCI USA Small Cap CTB Enhanced ESG UCITS ETFSXRG0.05%0.43%€2.5B
iShares MSCI World Small Cap CTB Enhanced ESG UCITS ETFCBUG0.04%0.10%€395.74M
State Street SPDR MSCI World Small Cap UCITS ETF (Acc)ZPRS0.03%0.45%€1.54B

Holdings as reported by the funds via FMP, excluding swap ETFs (their holdings are only collateral).

Data status and sources

Score
Daily value of 13 Nov 2026, recalculated nightly
Price
Closing price of 12 Nov 2026
Latest annual report
Fiscal year 2025, period end 31 Dec 2025
Source
Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Original filings at the SECReport a data error

Mandatory disclosures for this rating

  • ; time horizon around 12 months
  • Rated Weak, published since 7 Nov 2026 (in the score history since 28 Feb 2025)
  • End-of-day prices, metrics cached for up to 24 hours
  • Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
  • Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
  • Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.
Full disclosures, methodology and data sourcesAll ratings of the last 12 monthsHow the score is calculated

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