D-Wave Quantum Inc. Q3 2026 Earnings Recap

D-Wave shares fell 8.6% after earnings, with the transcript pointing to a sharp sequential slowdown in revenue: Q3 revenue was $4.5 million, up 21% year over year, while bookings growth was reported for the first nine months rather than the quarter. Commercial and technology milestones offer positives, but the call excerpt provides no forward revenue outlook to offset concern about near-term momentum.

Key Takeaways

• Q3 revenue was $4.5 million, up 21% year over year; the transcript does not provide a quarterly bookings figure.
• Bookings for the first nine months of 2026 were $37.4 million, up 611% year over year.
• NTT DOCOMO deployed a second production application; D-Wave also cited ongoing production-application efforts with Optum and AT&T.
• A SkyWater proof-of-technology project reduced lot delays by up to 30%; the work will advance to a proof of concept with additional operational constraints.
• D-Wave said its enhanced Strive solver found better solutions on assembly-line-balancing benchmarks in 15 seconds than the prior version found in 120 seconds.