The Chain Gazette · ResearchHardwareNEW YORK STOCK EXCHANGE, INC.Full writeup

$25.03+2.29%as of 10:31 PM ET

QBTS — D-Wave Quantum Inc.

Quantum annealing pioneer (public via reverse merger, formerly DWVP); manufactures Advantage 5000+ qubit annealers and Leap cloud annealing service.

Coiled

52w range compression, breakout-adjusted

Watched

7-day news volume + tape quietness

Sound

Margins, growth, FCF composite

Critical

100

Supply-chain concentration × demand

Pressure

Pricing Power

66.3%

Flat

CHAIN-D scores pending — refresh after next quarterly run.

Numbers on the wire.

Market cap

$9.3B

P/E (TTM)

—

P/S (TTM)

745.12

EV / EBITDA

—

Gross margin

66.27%

Op margin

-1,155.61%

Net margin

-2,957.23%

FCF margin

—

Rev growth YoY

-41.75%

EPS growth YoY

—

ROE

-44.05%

ROA

-38.48%

Debt / Equity

0.03

Current ratio

21.41

Price / Book

4.75

Beta

2.11

Layer Presence.

D-Wave is the market leader in quantum annealing with the longest commercial history. Niche use cases (combinatorial optimization, logistics, finance). Revenue model more mature than gate-model peers. Risk: annealing is narrower TAM than gate-model quantum.

QBTS — D-Wave Quantum Inc.

Numbers on the wire.

Layer Presence.

From the EDGAR wire.

From the tape.