D-Wave Quantum Inc. 8-K

What Happened
D-Wave Quantum Inc. (QBTS) filed a Form 8-K on February 26, 2026 announcing its financial results for the fiscal fourth quarter and full year ended December 31, 2025, via a press release and investor presentation. The company reported fiscal 2025 revenue of $24.6 million (up 179% from $8.8 million in fiscal 2024) and a consolidated cash and marketable investment securities balance of $884.5 million as of December 31, 2025. The disclosure was furnished as Exhibits 99.1 (press release) and 99.2 (presentation).

Key Details

• Fiscal year 2025 revenue: $24.6 million, a $15.8 million increase (179%) vs. fiscal 2024 revenue of $8.8 million.
• Consolidated cash and marketable securities: $884.5 million as of Dec 31, 2025 — a 397% increase vs. Q4 2024 consolidated cash of $178.0 million, and a 6% increase vs. Q3 2025 consolidated cash of $836.2 million.
• Filing date: Form 8-K furnished on February 26, 2026; exhibits include the press release and investor presentation with supplemental business, product and technical updates.

Why It Matters
The results show accelerating top-line growth year-over-year and a very strong liquidity position, which can give the company financial flexibility for operations, R&D, customer deployments, or strategic initiatives. Retail investors should note the large percentage growth from a relatively small revenue base ($24.6M), and the unusually large cash and marketable securities balance, both of which are material factors for assessing near-term runway and capital allocation. For more detail, review the Feb 26, 2026 press release and investor presentation filed with the 8-K.