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How QBTS Is Capturing Optimization Quantum Computing Opportunity
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Key Takeaways
D-Wave's Advantage2 system targets optimization use cases across logistics, AI, finance and more.
QBTS revenues jumped 179% in 2025, with bookings up 471% sequentially and pipeline soaring 1,500%.
QBTS' Advantage2 gains from Stride software, multicolor annealing and AI, blockchain interest from clients.
D-Wave Quantum (QBTS - Free Report) , or D-Wave, is a leading player in optimization today through its annealing quantum computing technology. Representing one of the largest and most immediate commercial opportunities of quantum computing, optimization spans every major industry, including logistics, defense, telecom, manufacturing, finance and energy. In this regard, the company’s Advantage2 system stands out as a powerful and energy-efficient annealing quantum computer built to address real-world use cases in areas such as optimization, material simulation and artificial intelligence (AI). It is also the company’s most highly performing quantum computer to date.
Last year, a landmark peer-reviewed paper published in Science confirmed that a smaller prototype of Advantage2 outperformed one of the world’s most powerful classical supercomputers in solving complex magnetic materials simulation problems with relevance to materials discovery. The breakthrough was validated as the world’s first-ever demonstration of quantum computational supremacy on a useful, real-world problem.
Following the general availability of Advantage2 in May 2025, commercial performance improved sharply, with fiscal 2025 revenues rising 179% year over year to a record $24.6 million. Fourth-quarter bookings also rose 471% sequentially, marking the second-highest quarterly levels in the company's history, while the sales opportunity pipeline expanded nearly 1,500% year over year. Recent advancements in annealing quantum computing technologies, such as Stride hybrid solver software, multicolor annealing and fast-reverse anneal, further enhance the capabilities of Advantage2.
Several studies have pointed to annealing quantum computers to continue having an edge over gate model systems on optimization problems. At the same time, D-Wave is also seeing early interest from customers exploring annealing quantum computing's impact on AI and blockchain — two areas with significant commercial potential.
QBTS’ Peer Updates
IonQ (IONQ - Free Report) has achieved a foundational technical milestone by photonically interconnecting two independent trapped-ion quantum systems. This marks the first demonstration of connected, commercial quantum computers, a major step toward scaling quantum computation beyond a single processor. IonQ has been awarded a contract in the Defense Advanced Research Projects Agency’s Heterogeneous Architectures for Quantum program, supporting the company’s development of high-speed interconnects capable of linking multiple types of quantum computers.
Quantum Computing Inc. (QUBT - Free Report) , or QCi, has acquired NuCrypt, LLC in a transaction valued at $5 million. By integrating NuCrypt’s suite of quantum communications systems and products, QCi expects to advance its technology roadmap while extending its portfolio of quantum communications and quantum photonics solutions. The company announced the placement of a QCi Dirac-3 quantum optimization machine on the Quantum Corridor network, the first installation of its kind in a commercial data center environment.
QBTS’ Price Performance, Valuation & Estimates
Year to date, QBTS shares have plunged 19.3%, underperforming the industry and the S&P 500 composite.
Image Source: Zacks Investment Research
D-Wave is trading at a forward price/sales (P/S) of 136.50X over the last five years, far above its median and industry average.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for D-Wave’s 2026 and 2027 loss per share is projected at 35 cents and 43 cents, respectively.
Image Source: Zacks Investment Research
D-Wave currently carries a Zacks Rank #5 (Strong Sell).
View the Zacks #1 Rank List
Image: Bigstock
How QBTS Is Capturing Optimization Quantum Computing Opportunity
Key Takeaways
D-Wave Quantum (QBTS - Free Report) , or D-Wave, is a leading player in optimization today through its annealing quantum computing technology. Representing one of the largest and most immediate commercial opportunities of quantum computing, optimization spans every major industry, including logistics, defense, telecom, manufacturing, finance and energy. In this regard, the company’s Advantage2 system stands out as a powerful and energy-efficient annealing quantum computer built to address real-world use cases in areas such as optimization, material simulation and artificial intelligence (AI). It is also the company’s most highly performing quantum computer to date.
Last year, a landmark peer-reviewed paper published in Science confirmed that a smaller prototype of Advantage2 outperformed one of the world’s most powerful classical supercomputers in solving complex magnetic materials simulation problems with relevance to materials discovery. The breakthrough was validated as the world’s first-ever demonstration of quantum computational supremacy on a useful, real-world problem.
Following the general availability of Advantage2 in May 2025, commercial performance improved sharply, with fiscal 2025 revenues rising 179% year over year to a record $24.6 million. Fourth-quarter bookings also rose 471% sequentially, marking the second-highest quarterly levels in the company's history, while the sales opportunity pipeline expanded nearly 1,500% year over year. Recent advancements in annealing quantum computing technologies, such as Stride hybrid solver software, multicolor annealing and fast-reverse anneal, further enhance the capabilities of Advantage2.
Several studies have pointed to annealing quantum computers to continue having an edge over gate model systems on optimization problems. At the same time, D-Wave is also seeing early interest from customers exploring annealing quantum computing's impact on AI and blockchain — two areas with significant commercial potential.
QBTS’ Peer Updates
IonQ (IONQ - Free Report) has achieved a foundational technical milestone by photonically interconnecting two independent trapped-ion quantum systems. This marks the first demonstration of connected, commercial quantum computers, a major step toward scaling quantum computation beyond a single processor. IonQ has been awarded a contract in the Defense Advanced Research Projects Agency’s Heterogeneous Architectures for Quantum program, supporting the company’s development of high-speed interconnects capable of linking multiple types of quantum computers.
Quantum Computing Inc. (QUBT - Free Report) , or QCi, has acquired NuCrypt, LLC in a transaction valued at $5 million. By integrating NuCrypt’s suite of quantum communications systems and products, QCi expects to advance its technology roadmap while extending its portfolio of quantum communications and quantum photonics solutions. The company announced the placement of a QCi Dirac-3 quantum optimization machine on the Quantum Corridor network, the first installation of its kind in a commercial data center environment.
QBTS’ Price Performance, Valuation & Estimates
Year to date, QBTS shares have plunged 19.3%, underperforming the industry and the S&P 500 composite.
Image Source: Zacks Investment Research
D-Wave is trading at a forward price/sales (P/S) of 136.50X over the last five years, far above its median and industry average.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for D-Wave’s 2026 and 2027 loss per share is projected at 35 cents and 43 cents, respectively.
Image Source: Zacks Investment Research
D-Wave currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.