D-wave computing Inc. deep dive and outlook 2025 $QBTS

The company in the middle of the Quantum tend is a few years away, but has a strong stock

D-Wave Quantum (originally D-Wave Systems) was founded in 1999 and is headquartered in Palo Alto, California (with operations also in Burnaby, British Columbia) . The company develops and sells quantum annealing systems, related hardware, software, and services — aiming at optimization, quantum-enabled applications, and hybrid classical-quantum workflows . In 2024, D-Wave generated about US$8.83 million in revenue, which essentially was flat year over year (0.79 % growth) . The company remains unprofitable, investing heavily in R&D, go-to-market, and capital structure. Prominent competitors (or peers) include IonQ, Rigetti Computing, and more broadly, quantum divisions of IBM/Google.