D-Wave Quantum Shares Drop 9% After Q2 Earnings as $35.5 Million Bookings Fail to Lift Revenue
Updated
Updated · Yahoo Finance · Aug 15
D-Wave Quantum Shares Drop 9% After Q2 Earnings as $35.5 Million Bookings Fail to Lift Revenue
3 articles · Updated · Yahoo Finance · Aug 15
Summary
D-Wave shares closed 9% lower on Aug. 6 after its second-quarter report, with investors appearing to focus more on earnings quality and profit-taking after big sector gains.
Bookings rose 1,120% to $35.5 million in the first half of 2026, commercial customers made up 62% of Q2 revenue, and remaining performance obligations jumped 668%—signs of demand that support the bullish case.
Revenue still slipped 0.6% year over year to $3.1 million, extending concerns after a Q1 revenue drop, and suggesting bookings are not yet converting into recognized sales.
Losses and spending widened sharply: EBITDA loss reached $37 million from $20 million, while first-half operating expenses more than doubled to $111.5 million from $53.6 million.
That gap leaves little room for error at a 610.97 price-to-sales ratio, even as hedge fund holders rose to 26 in Q1 2026 and short interest stood near 20% of float.