---
title: "D-Wave Reports EPS Beat, 1,994% Bookings Growth, Stock Falls"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286116463.md"
description: "D-Wave Quantum Inc. (NYSE: QBTS) reported a Q1 loss of 5 cents per share, beating estimates, but revenue of $2.85 million fell short of expectations, marking an 81% decline year-over-year. Bookings surged 1,994% to $33.4 million, driven by significant contracts, including a $20 million purchase from Florida Atlantic University. Despite strong bookings, D-Wave shares fell 4.20% to $23.02, reflecting a 12% year-to-date decline, contrasting with the S&P 500's gains."
datetime: "2026-05-12T14:02:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286116463.md)
  - [en](https://longbridge.com/en/news/286116463.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286116463.md)
---

# D-Wave Reports EPS Beat, 1,994% Bookings Growth, Stock Falls

**D-Wave Quantum Inc.** (NYSE:QBTS) reported first-quarter earnings on Tuesday before the market opened. Here’s a rundown of the report.

-   D-Wave stock is trading in a tight range. Where are QBTS shares going?

## Q1 Highlights

D-Wave reported a loss of 5 cents per share, beating the consensus estimate of a 9 cent-loss. In addition, it reported revenue of $2.85 million, missing the consensus estimate of $4.13 million and representing a 81% decrease from the prior-year first-quarter.

The company said consolidated cash and marketable investment securities totaled $588.4 million as of March 31, representing a 93% increase from $304.3 million in the first quarter of 2025.

D-Wave also reported first-quarter bookings of $33.4 million, up 1,994% year-over-year from $1.6 million in the first quarter of 2025 and up 149% from $13.4 million in the fourth quarter of 2025.

The quarter included a $20 million system purchase by Florida Atlantic University and a $10 million, two-year Quantum Computing as a Service agreement with a Fortune 100 company.

CEO **Alan Baratz** said the company's first-quarter performance reflected strong execution, expanding commercial adoption and technology leadership across both annealing and gate-model quantum computing systems.

Baratz also said D-Wave's acquisition of Quantum Circuits is expected to accelerate the development of a scalable, error-corrected gate-model system.

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## D-Wave Shares Crash

**QBTS Price Action:** D-Wave Quantum shares are trading 4.20% lower at $23.02 Tuesday morning, according to Benzinga Pro. Over the past month, QBTS has gained about 67.5% versus a 9.1% rise in the S&P 500 and is down roughly 12% year-to-date compared to the index’s 7.8% gain.

_Image via Shutterstock_

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## Related News & Research

- [D-Wave Quantum Analysts Slash Their Forecasts After Q1 Results](https://longbridge.com/en/news/286301775.md)
- [World Investment Advisors Purchases 27,592 Shares of D-Wave Quantum Inc. $QBTS](https://longbridge.com/en/news/286764686.md)
- [Why quantum computing stock skyrocketed this week](https://longbridge.com/en/news/286690728.md)
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