D-Wave reported record first quarter 2026 bookings of $33.4 million, an increase of nearly 2,000% year-over-year.

D-Wave Quantum reported first quarter 2026 revenue of $2.9 million and a net loss of $0.05 per share. The year-over-year revenue decline reflects a difficult comparison to the prior year, which included a large one-time system sale. The company's primary focus was on significant growth in future revenue commitments.

Key Highlights

• Quarterly bookings reached a record $33.4 million, an increase of 1,994% year-over-year, driven by large new customer agreements.
• Key contracts included a $20 million system sale to Florida Atlantic University and a $10 million, two-year Quantum Computing as a Service (QCaaS) agreement with an unnamed Fortune 100 company.
• Remaining Performance Obligations (RPOs), a measure of future revenue, increased 563% year-over-year to $42.4 million.