Overview

* D-Wave fiscal Q3 revenue grows 100% yr/yr, beating analyst expectations

* Company reports highest cash balance in history at $836 mln

* Net loss for fiscal Q3 increases due to non-cash warrant liability charges

Outlook

* Company did not provide specific financial guidance for future periods

Result Drivers

* REVENUE GROWTH - Co reports 100% yr/yr revenue increase driven by demand for quantum solutions and strategic partnerships

* BOOKINGS INCREASE - Co reports 80% increase in qtr bookings, reflecting strong customer demand

* INTERNATIONAL EXPANSION - Co expands into Italy with €10 mln booking for quantum computing facility

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $3.74 $3.03

Revenue mln mln (10

Analysts

)

Q3 Net -$139.99

Income mln

Q3 Gross $2.67

Profit mln

Q3 -$27.74

Income mln

From

Operatio

ns

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the it services & consulting peer group is "buy"

* Wall Street's median 12-month price target for D-Wave Quantum Inc ( QBTS ) is $24.00, about 29.2% below its November 5 closing price of $31.02

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)