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D-Wave Quantum Inc. engages in the development and delivery of quantum computing systems, software, and services worldwide. It provides Advantage and Advantage 2 quantum computers; Ocean, a suite of open-source tools; and Leap quantum cloud service, a cloud-based service that provides real-time access to quantum computers and quantum hybrid solvers; and secure access and data protection services, as well as Ocean software development kit (SDK), a… Read full Trend Edge analysis →
| Current Price | $20.35 |
|---|---|
| Market Cap | $8.20B |
| Float | 360.0M |
| Shares Outstanding | 367.3M |
| Price/Sales (TTM) | 658.75 |
| vs. Analyst Target | +75.8% to analyst PT |
| Operating Margin (TTM) | -1914.87% |
| Revenue (TTM) | $12.4M |
| Dividend Rate | None |
| Analyst Target Price | $35.77 (6 analysts) |
| Year | Revenue | Net Income | Gross Profit | EBITDA |
|---|---|---|---|---|
| 2020 | $5.2M | -$22.0M | $4.2M | -$14.1M |
| 2021 | $6.3M | -$41.0M | $4.5M | -$34.4M |
| 2022 | $7.2M | -$53.7M | $4.3M | -$49.0M |
| 2023 | $8.8M | -$82.7M | $4.6M | -$80.8M |
| 2024 | $8.8M | -$144M | $5.6M | -$138M |
| 2025 | $24.6M | -$355M | $20.3M | -$349M |
| Quarter | Revenue | Net Income |
|---|---|---|
| Jun 2025 | $3.1M | -$167M |
| Sep 2025 | $3.7M | -$140M |
| Dec 2025 | $2.8M | -$42.3M |
| Mar 2026 | $2.9M | -$18.4M |
| Insider Ownership | 2.3% |
|---|---|
| Institutional Ownership | 47.7% |
| Short Float | 14.5% |
| % of All Funds Holding | 5.66% |
| Number of Funds Holding | 465 |
Trend Edge tracks near-term, medium-term, cyclical, and secular moving averages across weekly and monthly timeframes to identify trend structure at every horizon.
| Timeframe | SMA | Value | Trend Context |
|---|---|---|---|
| Weekly | 10-Week SMA | $17.93 | Near-term / short-term trend |
| Weekly | 40-Week SMA | $22.93 | Medium-term trend |
| Weekly | 80-Week SMA | $16.26 | Cyclical trend (business cycle) |
| Weekly | 200-Week SMA | $7.74 | Secular trend (multi-year) |
| Monthly | 10-Month SMA | $22.13 | Near-term monthly trend |
| Monthly | 20-Month SMA | $15.39 | Medium-term monthly trend |
| Monthly | 40-Month SMA | $8.28 | Secular monthly trend |
Trend Edge identifies volume shelves: price zones where historically elevated trading volume creates structural support or resistance. A volume shelf forms when a disproportionate share of cumulative volume was transacted at a specific price level, making it a high-conviction anchor for future price reactions.
| Price Level | Type | Volume Ratio | Age |
|---|---|---|---|
| $7.10 | support | 2.16x | 11 months ago |
| $5.60 | support | 2.31x | 13 months ago |
| $3.30 | support | 6.11x | 16 months ago |
| $1.10 | support | 3.80x | 17 months ago |
| Timeframe | Avg Return | Median | Win Rate | Best | Worst |
|---|---|---|---|---|---|
| Gap | -0.78% | 0.00% | 42.86% | 11.43% | -10.48% |
| 1 Day | 1.44% | 0.20% | 57.14% | 46.89% | -23.31% |
| 1 Week | 2.42% | 0.77% | 66.67% | 63.46% | -22.49% |
| 2 Weeks | 1.37% | -0.10% | 47.62% | 80.42% | -36.14% |
| 1 Month | 11.37% | -1.21% | 42.86% | 371.91% | -45.12% |
Next earnings: May 12, 2026
Insufficient historical data for monthly seasonality analysis (requires 7+ years of data).
| Day | Avg Return | Win Rate | Samples |
|---|---|---|---|
| Monday | 0.81% | 44.3% | 253 |
| Tuesday | 0.21% | 41.3% | 281 |
| Wednesday | 0.04% | 39.8% | 279 |
| Thursday | 0.22% | 39.3% | 272 |
| Friday | 0.51% | 41.9% | 272 |
Institutional holder breakdown coming soon.
Total institutional ownership: 47.7%
Total insider ownership: 2.3%
Founder-led management: Eric Ladizinsky (Co-Founder and Chief Scientist)
| Total Filings | 42 |
|---|---|
| Net Value | -$97.1M |
| Net Shares Change | -1,042,371 |
| % of Float | -0.3% |
| C-Suite Filings | 26 |
| Clusters Detected | 9 |
| Name | Title | Net Value | Filings | Activity |
|---|---|---|---|---|
| BARATZ ALAN E | President and CEO | -$13.9M | 1 | 1 sell |
| Markovich John M. | Chief Financial Officer | -$6.5M | 1 | 1 sell |
| WEST STEVEN M | -$5.2M | 3 | 1 buy, 3 sell | |
| Biscay Roger | -$3.8M | 2 | 2 sell | |
| Nguyen Diane | General Counsel | -$1.5M | 1 | 1 sell |
| Nielsen Kirstjen | -$1.3M | 2 | 2 sell |
| Period | Filings | Insiders | Net Value | Seniority |
|---|---|---|---|---|
| 2025-05-22 – 2025-05-28 | 5 | 5 | -$28.6M | 3 C-suite |
| 2025-06-16 – 2025-06-16 | 4 | 4 | -$4.6M | |
| 2025-08-14 – 2025-08-20 | 4 | 3 | -$8.1M | 2 C-suite |
| 2025-09-12 – 2025-09-17 | 3 | 3 | -$2.7M | 1 C-suite |
| 2025-10-15 – 2025-10-15 | 3 | 3 | -$2.6M | 3 C-suite |
| 2025-11-13 – 2025-11-21 | 6 | 4 | -$33.7M | 5 C-suite |
| 2025-12-05 – 2025-12-16 | 6 | 5 | -$6.0M | 3 C-suite |
| 2026-01-15 – 2026-01-15 | 3 | 3 | -$1.9M | 3 C-suite |
| 2026-03-06 – 2026-03-17 | 4 | 4 | -$553,622.416 | 2 C-suite |
| Date | Insider | Title | Net Value | Price After |
|---|---|---|---|---|
| 2025-11-18 | WEST STEVEN M | +$1,794.98 | Transaction at $21.89, now -7.0% | |
| 2025-08-20 | WEST STEVEN M | -$2.6M | Transaction at $18.12, now +12.3% | |
| 2025-05-28 | Nguyen Diane | General Counsel | -$1.5M | Transaction at $9.90, now +105.7% |
| 2025-12-05 | Nielsen Kirstjen | -$158,340 | Transaction at $22.62, now -10.0% | |
| 2025-05-23 | Markovich John M. | Chief Financial Officer | -$6.5M | Transaction at $9.11, now +123.4% |
| 2025-08-15 | WEST STEVEN M | -$2.6M | Transaction at $18.08, now +12.6% |
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