D-Wave (NYSE: QBTS), a leader in quantum computing systems, software and services, and the only commercial provider building both annealing and gate-model quantum computers, today announced financial results for its fourth quarter and fiscal year ended Dec. 31, 2022.
“We believe our fourth quarter and 2022 year-end results reflect a clear signal: companies are rapidly embracing today’s quantum technology solutions to drive competitive advantage, now. In this complex economic environment, business leaders are actively looking for ways to improve operational efficiencies, reduce costs, fuel innovation, and increase revenue. We believe that near-term quantum and quantum-hybrid applications are critical for navigating this complexity by helping solve businesses’ most difficult computational problems. Our revenue metrics reflect increasing quantum adoption, which accelerated growth of our business and drove a 41% increase in Q3 to Q4 sequential revenue growth,” said Dr. Alan Baratz, CEO of D-Wave.
“Sixty-seven commercial customers used D-Wave solutions in 2022, and we now count more than two dozen of the Forbes Global 2000 as customers, as an increasing number of companies turn to quantum computing to solve complex business problems ranging from customer loyalty to supply chain logistics to e-commerce optimization. Beyond our continued commercial traction, we’re driving ongoing innovation and advancement of our product portfolio, most recently introducing new offerings that help customers harness quantum to accelerate artificial intelligence and machine learning efforts. We’re seeing accelerating momentum across all facets of our business. Finally, we are pleased to announce the closing of a $50 million four-year term loan.”
To view the full press release, visit https://ibn.fm/JqUZq
About D-Wave Quantum Inc.
D-Wave is a leader in the development and delivery of quantum computing systems, software and services, and is the world’s first commercial supplier of quantum computers — and the only company building both annealing quantum computers and gate-model quantum computers. The company’s mission is to unlock the power of quantum computing today to benefit business and society. D-Wave does 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’s technology is being used by some of the world’s most advanced organizations, including Volkswagen, Mastercard, Deloitte, Davidson Technologies, ArcelorMittal, Siemens Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd., DENSO, Lockheed Martin, Forschungszentrum Jülich, University of Southern California, and Los Alamos National Laboratory. For more information about the company, visit www.DWaveSys.com.
NOTE TO INVESTORS: The latest news and updates relating to QBTS are available in the company’s newsroom at https://ibn.fm/QBTS
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