PALO ALTO, Calif. -- November 10, 2026 -- D-Wave Quantum Inc. the only dual-platform quantum computing company, providing both annealing and gate-model systems, software, and services, today announced financial results for its third quarter ended September 30, 2026.

“From Seoul to Como to Washington, we are seeing growing interest in D-Wave’s differentiated dual-platform approach and a determination to put our quantum computing technology to work today,” said Dr. Alan Baratz, CEO of D-Wave. “Our triple-digit increase in year-to-date bookings and robust pipeline reinforce our confidence in the opportunity ahead. We are expanding our commercial reach and executing on both our annealing and gate-model roadmaps with a clear objective: to lead this industry in technical and scientific innovation, measurable customer value and growth.”

Recent Business and Technical Highlights

• Revenue for the third quarter of 2026 was $4.5 million, up 21% year over year.
• Bookings for the first nine months of 2026 were $37.4 million, a 611% year over year increase.
• Executed a definitive agreement with the U.S. Department of Commerce, following the previously announced letter of intent, providing D-Wave with access to up to $100 million of U.S. CHIPS and Science Act funding, in installments upon satisfying specified milestones and conditions. The funding is intended to support development of D-Wave’s next-generation quantum computers, including a 100,000-qubit annealing quantum computer targeting greater performance across optimization, materials simulation, blockchain and artificial intelligence. It is also intended to support development of a 10,000-qubit gate-model quantum computer designed to enable 100 logical qubits capable of reliably executing more than one million operations, enabling applications in areas such as quantum chemistry and quantum AI.
• Announced that NTT DOCOMO, Japan’s largest mobile operator, deployed its second production application powered by D-Wave’s hybrid quantum technology. The application optimized tracking area lists across multiple network areas, reducing daily peak location registration signals by 65.3% and paging signals by 7.0%, lowering network signaling load and improving operational efficiency. In a representative problem spanning 333 base stations, it completed optimization in approximately five minutes, with results incorporated into DOCOMO’s network planning and day-to-day operations.
• Delivered Italy’s first annealing quantum computer, a 4,400+ qubit Advantage2™ system, for installation at Villa Saporiti in Como, Italy. Funded by Swiss Quantum Technology SA, the system will give European researchers, universities and businesses access to production-grade annealing quantum computing technology once installed, supporting Q-Alliance’s efforts to accelerate application development, build quantum workforce skills, and advance commercial adoption.
• Launched the gate-model quantum computing simulator beta program, advancing error-aware programming capabilities and marking an important milestone in D-Wave’s gate-model development roadmap. Built around D-Wave’s dual-rail superconducting gate-model technology, the simulator enables beta participants to experiment with error-aware programming and develop quantum applications in preparation for the Company’s forthcoming gate-model systems. The underlying technology is designed to harness error detection to deliver efficient quantum error correction with significantly lower hardware overhead as systems scale. Beta participants include BBVA, FirstQFM, Florida Atlantic University and the Jülich Supercomputing Centre.
• Extended D-Wave’s longstanding partnership with SkyWater through a multi-year agreement for specialized semiconductor process development and manufacturing to support D-Wave’s quantum technology roadmap. Also completed a successful proof-of-technology project using D-Wave’s annealing quantum computing technology to optimize maintenance scheduling at SkyWater’s fab, reducing lot delays by up to 30% and improving factory throughput. The project will advance to a proof-of-concept incorporating resource availability, technician constraints, and additional fab-specific operational constraints.
• Formed a strategic partnership with CGI, one of the world’s largest independent IT and business consulting services firms. CGI plans to integrate D-Wave’s quantum computing platforms into its advanced technology services portfolio to help clients develop and deploy quantum and hybrid-quantum applications across industries, including logistics, transportation and retail.
• Signed a memorandum of understanding with LG CNS, a leading AI transformation company in South Korea, to advance the adoption of quantum computing for enterprise optimization in South Korea and beyond. The collaboration will focus on applying D-Wave’s annealing quantum computing technology to complex optimization challenges, with the goal of moving applications from proof-of-concept into production.
• Recognized as a Market Shaper in the Gartner® Emerging Market Quadrant for Quantum Computing - Established Vendors as of November 2026, and was among six quantum computing vendors in the upper right quadrant. ^*
• Strengthened D-Wave’s board expertise with the appointments of Bernard Gavgani and Kevan Krysler to the Board of Directors. Mr. Gavgani, former Group Chief Information Officer of BNP Paribas, joined the Cybersecurity Committee, bringing deep expertise in enterprise technology strategy. Mr. Krysler, a veteran technology finance executive, joined the Audit Committee, bringing extensive experience in public company financial reporting, corporate growth strategy, and risk management.