D-Wave Quantum Inc. (NYSE: QBTS) (“D-Wave”), a leader in quantum computing systems, software and services, has announced financial results for its first fiscal quarter ended March 31, 2024. Q1 revenues were up more than 50% year over year and Q1 gross profit surged 294% year over year.

“We believe D-Wave’s first quarter revenue and bookings reflect growing customer demand for quantum and hybrid quantum solutions that can drive measurable impact today,” said Dr. Alan Baratz, CEO of D-Wave. “Coupled with the significant technical milestones we’ve achieved with the Advantage2 prototype, we believe our progress leading the commercialization of quantum is evident.”

In addition, the company and the University of Southern California (“USC”) announced a renewed multi-year partnership. Under the agreement, the USC Viterbi School of Engineering will continue to house a D-Wave state-of-the-art Advantage quantum computer, facilitating ongoing exploration and adoption of annealing quantum computing solutions.

“We’re thrilled to continue our partnership with USC, which has been a pioneering academic institution in quantum computing research and education,” Dr. Baratz said of the continued collaboration. “Our long-standing relationship is built on a common commitment to pioneer advancements in quantum computing that drive monumental impact. By providing access to the only annealing quantum computing system currently available in the U.S., we’re furthering USC’s reputation as a global leader in quantum education and research while providing businesses, researchers and government agencies with the remarkable opportunity to see quantum computing’s true potential through practical applications today.”

To view the full press releases, visit https://ibn.fm/EaTlP and https://ibn.fm/d71sq

About D-Wave Quantum Inc.

D-Wave Quantum Inc. (NYSE: QBTS) is a leader in quantum computing systems, software and services focused on delivering value to our customers via practical quantum applications for problems such as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, fault detection and financial modeling. As the only provider building both annealing and gate-model quantum computers, the company is unlocking commercial use cases in optimization today, while building the technologies that will enable new solutions tomorrow. Founded in 1999, D-Wave is the world’s first commercial supplier of quantum computing solutions.

NOTE TO INVESTORS: The latest news and updates relating to QBTS are available in the company’s newsroom at https://ibn.fm/QBTS

Forward-Looking Statements

Certain statements in this press release are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management’s control, including the risks set forth under the heading “Risk Factors” discussed under the caption “Item 1A. Risk Factors” in Part I of our most recent Annual Report on Form 10-K or any updates discussed under the caption “Item 1A. Risk Factors” in Part II of our Quarterly Reports on Form 10-Q and in our other filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this press release in making an investment decision, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.

About BillionDollarClub

BillionDollarClub (“BDC”) is a specialized communications platform with a focus on the biggest and brightest companies covered by IBN. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, BDC is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, BDC brings its clients unparalleled recognition and brand awareness.

BDC is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from BillionDollarClub, text “Billion” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.BillionDollarClub.com

Please see full terms of use and disclaimers on the BillionDollarClub website applicable to all content provided by BDC, wherever published or re-published: https://www.BillionDollarClub.com/Disclaimer

BillionDollarClub
Los Angeles, CA
www.BillionDollarClub.com
310.299.1717 Office
Editor@BillionDollarClub.com

BillionDollarClub is powered by IBN