---
title: "D-Wave Quantum Bookings Surge 16x To $32 Million In Q1"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286294505.md"
description: "D-Wave Quantum Inc. (NYSE:QBTS) reported a 16-fold increase in bookings to $32 million in Q1 2026, despite revenue missing broader street estimates. Analyst John McPeake from Rosenblatt Securities maintained a buy rating and a $43 price target, citing strong demand and upcoming product shipments. The company is shifting towards gate-based quantum computing and has a solid plan for profitability, with an Analyst Day scheduled for June 1. D-Wave shares were down 5.48% at $21.12, but have gained 47.6% over the past month."
datetime: "2026-05-13T16:23:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286294505.md)
  - [en](https://longbridge.com/en/news/286294505.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286294505.md)
---

# D-Wave Quantum Bookings Surge 16x To $32 Million In Q1

**D-Wave Quantum Inc. ( QBTS )** reported first-quarter 2026 results on Tuesday that topped **Rosenblatt Securities** forecasts, despite landing below a broad range of street estimates.

Rosenblatt Securities analyst **John McPeake** maintained a buy rating and a $43 price forecast on the stock, signaling significant upside from its current $22.11 price level.

## Revenue Miss Attributed to Timing of System Sales

While first quarter revenue were 17% above Rosenblatt's estimates, they trailed the wider street consensus. McPeake noted that the discrepancy stems from “mis-modeled” system sales.

McPeake said Wall Street likely pulled some system sales into the first quarter that are now expected to materialize in the second half of the year. He noted that the FAU machine and another unit are expected to ship in the second half of 2026.

## Bookings Surge 16 Times Over Previous Year

The highlight for retail traders is the massive acceleration in demand. Total bookings reached $32 million, a 16-fold increase compared to the year-ago figure. Current bookings also surged 10 times.

This growth was bolstered by a $20 million FAU deal and a $10 million two-year Quantum Computing as a Service (QCaaS) contract. With $42.4 million in remaining performance obligations (RPO), the company's visibility for its $54.5 million full-year revenue forecast remains solid.

## Strategic Shift Toward Gate-Based Solutions

D-Wave is advancing its roadmap for gate-based quantum computing following its $550 million acquisition of **QCI**. Rosenblatt views the company’s “dual-rail” superconducting qubit approach as a competitive advantage.

This method aims to remove errors before they require correction. While the timeline for 100 “nearly perfect” qubits extends to 2032.

## Upcoming Catalyst: June 1st Analyst Day

Management believes its $553 million in net cash provides a “fully-funded plan to profitability.”

Investors are now looking toward D-Wave's first-ever analyst day on June 1. This event is expected to provide deeper technical details on the company’s strategy for both annealing and gate-based quantum solutions.

**QBTS Price Action:** D-Wave Quantum ( QBTS ) shares were down 5.48% at $21.12 at the time of publication on Wednesday, according to Benzinga Pro data

Over the past month, QBTS has gained about 47.6% versus a 9.1% rise in the S&P 500 and is down roughly 23% year-to-date compared to the index’s 7.7% gain.

_Image via Shutterstock_

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