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 posted Q3 revenue of $3.7 million, doubling year over year, with bookings jumping to $2.4 million. The company ended the quarter with a record $836.2 million in cash, boosted by warrant exercises, while GAAP net loss widened to $140 million due to $121.9 million in non-cash charges. Shares traded near $31 intraday. Over $12 million in additional bookings closed after quarter-end.