We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
D-Wave Quantum Sees Solid Funding, Expansion and Growth in 2025
Read MoreHide Full Article
Key Takeaways
D-Wave Quantum formalized a cryogenic packaging initiative with NASA JPL to scale its processors.
The company raised $400M via an equity offering, boosting cash reserves and financial flexibility.
D-Wave reported an 83% jump in APAC bookings, highlighted by its first Qubits Japan 2025 conference.
D-Wave Quantum’s (QBTS - Free Report) profits are being driven by its new technology and growing customer adoption. In July 2025, the company formalized a strategic development initiative for advanced cryogenic packaging, intended to scale both its annealing and gate-model processor architectures. This initiative deepens D-Wave’s partnership with NASA’s Jet Propulsion Laboratory (JPL) and expands its multichip interconnect capability, thereby strengthening the infrastructure required for roadmap targets such as 100,000 qubits.
On the funding side, D-Wave successfully completed a $400 million at-the-market (ATM) equity offering in July 2025, further bolstering its cash war chest. This will enable the company to pursue acquisitions, working capital and capital expenditures. Together, these moves strengthen D-Wave’s technical foundations and financial flexibility in executing its profitability plan.
On the adoption front, D-Wave is gaining more regional depth and brand presence, especially in the Asia Pacific. It hosted its first Qubits Japan 2025 user conference in Tokyo on Sept. 17 to highlight customer success stories, technical roadmap updates and quantum AI applications. The company also reported an 83% increase in bookings in the APAC region over the past 12 months, signaling accelerating demand in markets like Japan, South Korea and broader Asia. These developments complement D-Wave’s prior wins in Europe and North America, helping to diversify its commercial base and reduce regional concentration risk.
Financially, the additional equity infusion should further buffer the company as it continues to sustain investment and absorb short-term losses. The $400 million (ATM) offering in July, executed at a strong average share price, emphasizes investor confidence in D-Wave’s long-term story. Coupled with the earlier record cash balance of $819 million at the end of the second quarter of 2025, D-Wave now possesses one of the strongest balance sheets among publicly held quantum firms. These resources give it scope to invest in growth, scale operations and absorb lumpy system-sale cycles without immediate pressure to achieve cash-flow breakeven.
Competitive Landscape at a Glance
IonQ (IONQ - Free Report) : The company is extending its strategy beyond core quantum hardware through acquisitions and collaborations. It announced plans to acquire Oxford Ionics in a $1.075 billion all-stock transaction and Vector Atomic, a quantum sensing specialist focused on navigation and positioning. These deals expand IonQ’s capabilities into quantum sensing, networking and security. Additionally, IonQ signed an MOU with the U.S. Department of Energy to explore quantum-secure satellite communications, reinforcing its role in future quantum infrastructure.
Rigetti (RGTI - Free Report) : It is progressing in superconducting gate-model quantum computing with the debut of its 36-qubit multi-chip processor (Cepheus-1-36Q), which integrates four chiplets in a modular architecture. The system reached a median two-qubit gate fidelity of 99.5%, cutting error rates in half compared with prior versions. Rigetti strengthened its balance sheet by raising $350 million through an equity offering, leaving it well-capitalized with no debt. Rigetti also forged a partnership with India’s Centre for Development of Advanced Computing to co-develop hybrid quantum systems, advancing its push toward international collaboration.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
D-Wave Quantum Sees Solid Funding, Expansion and Growth in 2025
Key Takeaways
D-Wave Quantum’s (QBTS - Free Report) profits are being driven by its new technology and growing customer adoption. In July 2025, the company formalized a strategic development initiative for advanced cryogenic packaging, intended to scale both its annealing and gate-model processor architectures. This initiative deepens D-Wave’s partnership with NASA’s Jet Propulsion Laboratory (JPL) and expands its multichip interconnect capability, thereby strengthening the infrastructure required for roadmap targets such as 100,000 qubits.
On the funding side, D-Wave successfully completed a $400 million at-the-market (ATM) equity offering in July 2025, further bolstering its cash war chest. This will enable the company to pursue acquisitions, working capital and capital expenditures. Together, these moves strengthen D-Wave’s technical foundations and financial flexibility in executing its profitability plan.
On the adoption front, D-Wave is gaining more regional depth and brand presence, especially in the Asia Pacific. It hosted its first Qubits Japan 2025 user conference in Tokyo on Sept. 17 to highlight customer success stories, technical roadmap updates and quantum AI applications. The company also reported an 83% increase in bookings in the APAC region over the past 12 months, signaling accelerating demand in markets like Japan, South Korea and broader Asia. These developments complement D-Wave’s prior wins in Europe and North America, helping to diversify its commercial base and reduce regional concentration risk.
Financially, the additional equity infusion should further buffer the company as it continues to sustain investment and absorb short-term losses. The $400 million (ATM) offering in July, executed at a strong average share price, emphasizes investor confidence in D-Wave’s long-term story. Coupled with the earlier record cash balance of $819 million at the end of the second quarter of 2025, D-Wave now possesses one of the strongest balance sheets among publicly held quantum firms. These resources give it scope to invest in growth, scale operations and absorb lumpy system-sale cycles without immediate pressure to achieve cash-flow breakeven.
Competitive Landscape at a Glance
IonQ (IONQ - Free Report) : The company is extending its strategy beyond core quantum hardware through acquisitions and collaborations. It announced plans to acquire Oxford Ionics in a $1.075 billion all-stock transaction and Vector Atomic, a quantum sensing specialist focused on navigation and positioning. These deals expand IonQ’s capabilities into quantum sensing, networking and security. Additionally, IonQ signed an MOU with the U.S. Department of Energy to explore quantum-secure satellite communications, reinforcing its role in future quantum infrastructure.
Rigetti (RGTI - Free Report) : It is progressing in superconducting gate-model quantum computing with the debut of its 36-qubit multi-chip processor (Cepheus-1-36Q), which integrates four chiplets in a modular architecture. The system reached a median two-qubit gate fidelity of 99.5%, cutting error rates in half compared with prior versions. Rigetti strengthened its balance sheet by raising $350 million through an equity offering, leaving it well-capitalized with no debt. Rigetti also forged a partnership with India’s Centre for Development of Advanced Computing to co-develop hybrid quantum systems, advancing its push toward international collaboration.