D‑Wave Quantum (QBTS) Q3 2025: Revenue Doubles to $3.7M, Record $836M Cash, Bookings Accelerate — What It Means for the Stock Today
D‑Wave Quantum Inc. (NYSE: QBTS) reported third‑quarter fiscal 2025 results before the open today, delivering 100% year‑over‑year revenue growth to $3.7 million and a sharp sequential uptick in customer bookings to $2.4 million. Shares were recently around $31 intraday, modestly higher following the print. The company also ended the quarter with a record $836.2 million cash balance, while GAAP net loss widened to $140.0 million—driven primarily by non‑cash warrant remeasurement charges. Business Wire Key numbers at a glance (Q3 FY25) Why GAAP loss widened while cash hit a record D‑Wave’s $140.0M GAAP net loss reflects $121.9M in non‑cash, non‑operating charges
