✎ Contributed by Ty Griffin
- D-Wave bookings for fiscal year 2024 will exceed $23 million, marking at least a 120% increase compared to fiscal year 2023, an increase driven in part by first-ever customer purchase of a D-Wave(TM) Advantage annealing quantum computing system.
- The company also announced the successful completion of a $150 million “at-the-market” (“ATM”) equity offering, contributing to a current cash balance of approximately $320 million.
- The Advantage quantum computer purchase represents an expansion of the company’s revenue model as a result of broadening its go-to-market offering to include on-premises system sales.
- CEO Dr. Alan Baratz emphasized that the company believes the world is quickly recognizing the near-term usefulness and value of D-Wave’s quantum systems.
D-Wave Quantum (NYSE: QBTS) (“D-Wave”), a leader in quantum computing systems, software and services, and the first commercial provider of quantum computers, reported a 120%+ increase in bookings for fiscal year 2024 compared to 2023 figures. According to a company news release, bookings for fiscal year 2024 exceed $23 million, an increase driven by several major milestones including the first-ever customer purchase of a D-Wave Advantage annealing quantum computer (https://ibn.fm/9aHB5).
Bookings during Q4 of fiscal year 2024 will be at least $18 million, an increase of approximately 500% over prior fiscal year 2023 Q4 bookings of $3 million. The company ended fiscal year 2024 with a record cash position of…
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 the company’s most recent Annual Report on Form 10-K or any updates discussed under the caption “Item 1A. Risk Factors” in Part II of the company’s Quarterly Reports on Form 10-Q and in its 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 the company on the date hereof. The company undertakes no duty to update this information unless required by law.
NOTE TO INVESTORS: IBN is a multifaceted financial news, content creation and publishing company utilized by both public and private companies to optimize investor awareness and recognition. For more information, please visit https://www.InvestorBrandNetwork.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://IBN.fm/Disclaimer
The latest news and updates relating to QBTS are available in the company’s newsroom at https://ibn.fm/QBTS
Corporate Communications
IBN
Austin, Texas
www.InvestorBrandNetwork.com
512.354.7000 Office
Editor@InvestorBrandNetwork.com
