D-Wave Quantum Inc. (NYSE:QBTS) shares are trading higher Friday, continuing after the company on Thursday reported a significant increase in fourth-quarter bookings.
What To Know; The company reported fourth-quarter bookings of $18.3 million, reflecting a 502% increase year over year. Despite the strong bookings growth, D-Wave missed Wall Street estimates on both earnings and revenue. The company posted an adjusted earnings per share loss of 8 cents, which was wider than the expected loss of 7 cents.
For 2025, D-Wave expects revenue to exceed $10 million. A significant portion of this revenue will come from the sale of an Advantage annealing quantum computer. Analysts' consensus estimate for first-quarter revenue is $2.606 million.
D-Wave CEO Alan Baratz highlighted the company's record bookings and cash position, emphasizing recent progress in quantum technology performance over classical computing in real-world applications.
QBTS Price Action: D-wave Quantum shares were up 36.8% at $9.45 at the time of writing, according to Benzinga Pro.
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