D-Wave Posts Wider-Than Expected Loss. Revenue Outlook Tops Expectations.
D-Wave Quantum (QBTS) on Thursday reported a wider-than-expected fourth quarter loss while revenue edged by views. First quarter guidance for D-Wave came in above expectations as investors mull the outlook for quantum computing stocks amid growing competition.
In the December quarter, D-Wave reported an 8-cent loss on an adjusted basis versus a 6-cent loss a year earlier. Revenue rose 21% to $2.3 million.
Analysts had forecast a 6-cent loss on revenue of $2.2 million.
Q4 bookings rose 502% to $18.3 million, the company said.
For the March quarter, D-Wave said it expects revenue of $10 million, topping estimates of $2.55 million.
↑ X How To Buy Stocks: IBD's Four Pillars Of InvestingD-Wave in February won a big deal in Germany. The Jülich Supercomputing Centre bought one of D-Wave's quantum systems.
On the stock market today, D-Wave stock rose 3.3% to near 6 in early trading, slightly below its 50-day line.
Among other quantum computing stocks, shares in IonQ (IONQ) rose 1.7% to 22.20. Quantum Computing (QUBT) dipped 1.7% to 5.35. Rigetti Computing (RGTI) fell a fraction to 8.91.
Also, D-Wave's Qubits 2025 quantum computing user conference will take place in Scottsdale, Ariz. starting March 31. The conference will feature presentations from D-Wave executives, customers, and industry thought leaders.
Quantum computing works on a subatomic level and uses exotic technologies, like supercold superconductor chips. Further, Quantum computing's ultimate benefit is that it aims to solve problems too complex for today's classical computers.
Further, D-Wave on Wednesday claimed a major advance in the technology, sending quantum computing stocks up. D-Wave rose 8.2%.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
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