D-Wave: Riding Quantum Mania
D-Wave Quantum Inc. has experienced significant growth in bookings, with a year-over-year increase of nearly 2,000%. Despite a sharp decline in Q1 revenue, the company maintains strong gross margins that suggest a viable business model. The substantial rise in remaining performance obligations indicates potential for future revenue generation.
- ▪D-Wave bookings surged 1,994% year-over-year to $33.4 million.
- ▪Remaining performance obligations expanded 563% to $42.4 million.
- ▪The company generated 82.59% gross margins, supporting a scalable revenue model.
- ▪Q1 revenue collapsed 81% year-over-year to $2.9 million.
- ▪GAAP operating expenses jumped 125% to $56.5 million.
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