D-Wave Quantum Inc. (QBTS) Posts Fourth Quarter Loss, Falls Short of Revenue Expectations

D-Wave Quantum Inc. Reports Wider-Than-Expected Quarterly Loss

D-Wave Quantum Inc. (QBTS) announced a quarterly loss of $0.12 per share, which was larger than analysts’ consensus expectation of a $0.05 loss. In comparison, the company reported a $0.37 per share loss in the same quarter last year. These results exclude one-time items.

The company’s loss was 130.77% greater than anticipated. In the previous quarter, D-Wave Quantum was projected to post a $0.07 per share loss but instead reported a $0.41 loss, missing estimates by 485.71%.

Over the past year, D-Wave Quantum has only exceeded consensus earnings per share estimates once in four quarters.

Operating within the Internet - Software sector, D-Wave Quantum generated $2.75 million in revenue for the quarter ending December 2025, falling short of the consensus estimate by 33.49%. This compares to $2.31 million in revenue for the same period last year. The company has surpassed revenue expectations three times in the last four quarters.

The direction of the stock’s price in the near term will likely depend on management’s insights during the earnings call, as well as future earnings projections.

Since the start of the year, D-Wave Quantum shares have declined by approximately 24.9%, while the S&P 500 has gained 1.5%.

What Lies Ahead for D-Wave Quantum?

Although D-Wave Quantum has lagged behind the broader market this year, investors are now considering what the future holds for the stock.

While there is no simple answer, one useful indicator is the company’s earnings outlook, which includes both current consensus estimates for upcoming quarters and any recent changes to those forecasts.

Studies have shown that short-term stock price movements are closely linked to trends in earnings estimate revisions. Investors can monitor these changes themselves or use established tools like the Zacks Rank, which has a strong track record of leveraging earnings estimate trends.

Prior to this earnings announcement, D-Wave Quantum’s estimate revisions were mixed. The latest results may influence future revisions, but as of now, the stock holds a Zacks Rank #3 (Hold), suggesting it is expected to perform in line with the market. For a full list of Zacks #1 Rank (Strong Buy) stocks, click here.

It remains to be seen how analyst estimates for the next quarters and the current fiscal year will shift in response to these results. At present, the consensus projects an EPS of -$0.05 on $5.38 million in revenue for the next quarter, and an EPS of -$0.21 on $43.55 million in revenue for the full year.

Investors should also consider the broader industry outlook, as it can significantly affect individual stock performance. The Internet - Software sector currently ranks in the top 36% of over 250 Zacks industries. Historically, the top half of Zacks-ranked industries outperforms the bottom half by more than two to one.

Industry Peer Update: SurgePays, Inc.

Another company in the same sector, SurgePays, Inc. (SURG), has yet to release its results for the quarter ending December 2025.

SurgePays is anticipated to report a quarterly loss of $0.23 per share, which would mark a 75.3% improvement from the prior year. The consensus EPS estimate for the quarter has remained steady over the past month.

Revenue for SurgePays is projected to reach $23.2 million, representing a 141.7% increase compared to the same quarter last year.

Is D-Wave Quantum Inc. (QBTS) a Good Investment?

If you’re considering investing in D-Wave Quantum Inc. (QBTS), you may want to explore the top stock picks for the next month. Zacks Investment Research offers a complimentary report on the 7 best stocks to buy now.

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