D-Wave Quantum

Q2 FY2026 EarningsQ2 FY2026 results missed revenue and margin consensus significantly, reporting revenue of $3.1M vs. $4.0M expected and a GAAP gross margin of 55.4% vs. the 71.8% anticipated. Despite the top-line miss, the company reported record H1 bookings of $35.5M (up 1,120% YoY) and a robust RPO of $40.7M. Net loss of $48.0M ($0.13 per share) was slightly worse than the -$0.10 mean estimate due to aggressive R&D and G&A scaling following the Quantum Circuits acquisition.