D-Wave Receives Funding and Explores Quantum Computing Cloud

D-Wave received funding, while D-Wave's revenue declined 44% to $12.4 million, but its market value rose 38% to $7.5 billion despite significant losses. Meanwhile, quantum computing companies like Oracle are partnering to bring the technology to cloud services.

D-Wave Quantum (QBTS) posted trailing-twelve-month revenue of $12.4 million, down about 44% from a year earlier, even as its market value climbed 38% to roughly $7.5 billion . The decline reflects a tough year-over-year comparison: the prior period included a $13.7 million quantum-system sale that hasn't repeated this year, and the company posted a $48 million net loss for the second quarter of 2026 .

Beneath the headline revenue dip, forward demand signals point higher. First-half 2026 bookings jumped more than 1,100% to $35.5 million, including a $20 million system sale, while remaining performance obligations reached $40.7 million, up roughly 668% year-over-year . D-Wave separately secured funding through Canada's National Research Council to advance work at its Quantum Centre of Engineering Excellence in Burnaby, British Columbia, supporting commercial annealing quantum computing.

The broader quantum computing sector is seeing parallel momentum. Oracle (ORCL) has partnered with Quantinuum to bring quantum computing capabilities to Oracle Cloud Infrastructure, aiming to give enterprise customers scalable access to quantum services. Separately, IBM (IBM) and the University of Chicago have demonstrated what they describe as verifiable quantum advantage, underscoring how competitive the field is becoming.

What to watch: with D-Wave set to appear at several investor conferences, the key question is whether the surge in bookings and backlog converts into recognized revenue in coming quarters, or whether the stock's valuation continues to run ahead of the underlying business.

D-Wave Receives Funding and Explores Quantum Computing Cloud

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