D-Wave Revenue Rises as Quarterly Bookings Fall

D-Wave Quantum reported a 21% year-over-year increase in third-quarter revenue, alongside a larger-than-expected loss and a 19% decline in quarterly bookings, as nine-month bookings and contracted obligations rose sharply. The company’s results for the quarter ended September 30, 2026, showed revenue of $4.51 million and an adjusted loss of 13 cents per share. Analysts had expected a smaller loss, while revenue exceeded estimates.

Bookings totaled $1.9 million for the quarter, down 19% from a year earlier. For the first nine months of 2026, bookings reached $37.4 million, a 611% increase year over year. Remaining performance obligations, which represent contracted business expected to be recognized in future periods, were $38.3 million as of September 30, up 1,221% from a year earlier.

The figures show a contrast between weaker quarterly bookings and stronger longer-term commitments. Bookings and obligations do not represent revenue already earned, and their conversion depends on future deliveries and other conditions. D-Wave’s acting finance chief expected most of a $20 million system sale to Florida Atlantic University to be recognized as revenue in the fourth quarter of 2026.