{"id":799427,"date":"2025-01-10T07:03:16","date_gmt":"2025-01-10T12:03:16","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/d-wave-announces-fiscal-year-2024-bookings-will-exceed-23-million-up-approximately-120-over-fiscal-year-2023\/"},"modified":"2025-01-10T07:03:16","modified_gmt":"2025-01-10T12:03:16","slug":"d-wave-announces-fiscal-year-2024-bookings-will-exceed-23-million-up-approximately-120-over-fiscal-year-2023","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/d-wave-announces-fiscal-year-2024-bookings-will-exceed-23-million-up-approximately-120-over-fiscal-year-2023\/","title":{"rendered":"D-Wave Announces Fiscal Year 2024 Bookings Will Exceed $23 Million, Up Approximately 120% Over Fiscal Year 2023"},"content":{"rendered":"

<\/p>\n

D-Wave Announces Fiscal Year 2024 Bookings Will Exceed $23 Million, Up Approximately 120% Over Fiscal Year 2023<\/b><\/p>\n

First-ever customer purchase of D-Wave Advantage annealing quantum computing system in Q4 contributes to increased bookings and marks significant expansion of the company\u2019s revenue model<\/i><\/p>\n

Record cash position of approximately $178 million at 2024 year end<\/i><\/p>\n

PALO ALTO, Calif.–(BUSINESS WIRE<\/a>)–
\nD-Wave Quantum Inc. (NYSE: QBTS) (\u201cD-Wave\u201d or the \u201cCompany\u201d), a leader in quantum computing systems, software, and services, and the world\u2019s first commercial supplier of quantum computers, announced today that fiscal year 2024 bookings will exceed $23 million, an increase of approximately 120% over fiscal year 2023 bookings. Contributing to the growth in bookings, the company also announced the first-ever customer purchase of a D-Wave Advantage\u2122 annealing quantum computing system reflecting a significant expansion to the company\u2019s revenue model as it broadens its overall go-to-market offering to include on-premise system sales.<\/p>\n

\nThe first customer purchase of a D-Wave Advantage system, the world\u2019s largest quantum computer with more than 5,000 qubits and 15-way connectivity, exemplifies growing adoption of D-Wave\u2019s annealing quantum technology. By purchasing an on-premise system, customers have complete access to all aspects of the Advantage quantum computer, including the ability to modify system parameters and integrate the system in ways previously unavailable to them. The purchase comes amid growing demand for on-premise D-Wave quantum systems from research centers, academic institutions, HPC centers, and leading-edge businesses looking to accelerate competitive differentiation, bolster national security, and explore how quantum computing can address challenges resulting from AI’s escalating power consumption. D-Wave\u2019s on-premise infrastructure offering is complementary to its Leap\u2122 quantum cloud service, which we believe will continue to be the approach of choice for many application-focused customers.<\/p>\n

\nIn addition to the system sale, the company today disclosed that fiscal 2024 Q4 bookings will be at least $18 million, an increase of approximately 500% over prior year fiscal 2023 Q4 bookings of $3 million. The company ended fiscal year 2024 with a record cash position of approximately $178 million in cash.<\/p>\n

\n\u201cWe believe it is evident that the world is quickly recognizing the near-term usefulness and value of D-Wave\u2019s quantum systems,\u201d said Dr. Alan Baratz, CEO of D-Wave. \u201cWith remarkable growth in bookings, our first Advantage system sale and an increasing number of customer applications moving into production, in our view, D-Wave is clearly driving the commercialization of quantum computing. While others remain in the research and development mode, we are delivering incredibly powerful technology and products to customers today, helping them tackle their tough computational problems faster, better and with less energy.\u201d<\/p>\n

About D-Wave Quantum Inc.<\/b><\/p>\n

\nD-Wave is a leader in the development and delivery of quantum computing systems, software, and services, and is the world\u2019s first commercial supplier of quantum computers\u2014and the only company building both annealing quantum computers and gate-model quantum computers. Our mission is to unlock the power of quantum computing today to benefit business and society. We do this by delivering customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. D-Wave\u2019s technology has been used by some of the world\u2019s most advanced organizations including Mastercard, Deloitte, Davidson Technologies, ArcelorMittal, Siemens Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd., DENSO, Lockheed Martin, Forschungszentrum J\u00fclich, University of Southern California, and Los Alamos National Laboratory. With its Quantum Center of Excellence located near Vancouver, Canada, D-Wave’s global operations are based in Palo Alto, CA.<\/p>\n

Forward-Looking Statements<\/b><\/p>\n

\nCertain 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\u2019s control, including the risks set forth under the heading \u201cRisk Factors\u201d discussed under the caption \u201cItem 1A. Risk Factors\u201d in Part I of our most recent Annual Report on Form 10-K or any updates discussed under the caption \u201cItem 1A. Risk Factors\u201d 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.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250110781030\/en\/<\/a><\/span><\/p>\n

Media:
\n<\/b>
D-Wave
\n
Alex Daigle
\n
media@dwavesys.com<\/a><\/p>\n

KEYWORDS:<\/b> California United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Data Management Security Technology Other Science Software Artificial Intelligence Science<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
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D-Wave Announces Fiscal Year 2024 Bookings Will Exceed $23 Million, Up Approximately 120% Over Fiscal Year 2023 First-ever customer purchase of D-Wave Advantage annealing quantum computing system in Q4 contributes to increased bookings and marks significant expansion of the company\u2019s revenue model Record cash position of approximately $178 million at 2024 year end PALO ALTO, Calif.–(BUSINESS WIRE)– D-Wave Quantum Inc. (NYSE: QBTS) (\u201cD-Wave\u201d or the \u201cCompany\u201d), a leader in quantum computing systems, software, and services, and the world\u2019s first commercial supplier of quantum computers, announced today that fiscal year 2024 bookings will exceed $23 million, an increase of approximately 120% over fiscal year 2023 bookings. Contributing to the growth in bookings, the company also announced the first-ever customer purchase of … <\/p>\n

Continue reading “D-Wave Announces Fiscal Year 2024 Bookings Will Exceed $23 Million, Up Approximately 120% Over Fiscal Year 2023”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-799427","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nD-Wave Announces Fiscal Year 2024 Bookings Will Exceed $23 Million, Up Approximately 120% Over Fiscal Year 2023 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/d-wave-announces-fiscal-year-2024-bookings-will-exceed-23-million-up-approximately-120-over-fiscal-year-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"D-Wave Announces Fiscal Year 2024 Bookings Will Exceed $23 Million, Up Approximately 120% Over Fiscal Year 2023 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"D-Wave Announces Fiscal Year 2024 Bookings Will Exceed $23 Million, Up Approximately 120% Over Fiscal Year 2023 First-ever customer purchase of D-Wave Advantage annealing quantum computing system in Q4 contributes to increased bookings and marks significant expansion of the company\u2019s revenue model Record cash position of approximately $178 million at 2024 year end PALO ALTO, Calif.–(BUSINESS WIRE)– D-Wave Quantum Inc. (NYSE: QBTS) (\u201cD-Wave\u201d or the \u201cCompany\u201d), a leader in quantum computing systems, software, and services, and the world\u2019s first commercial supplier of quantum computers, announced today that fiscal year 2024 bookings will exceed $23 million, an increase of approximately 120% over fiscal year 2023 bookings. 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