D-Wave's Commercial Momentum Is Real, but a Critical Gap Remains

D-Wave (QBTS +1.34%) is showing real signs of commercial momentum as bookings, RPO, and production quantum usage climb. But revenue remains small and uneven, leaving investors with a crucial question: can growing QCaaS usage turn today's customer commitments into the recurring business needed to support the stock's valuation? Stock prices used were the market prices of Aug. 26, 2026. The video was published on Sept. 13, 2026. Read NextSep 12, 2026 •By Sara AppinoBigBear.ai vs. D-Wave Quantum: Which Technology Stock Is a Better Buy in 2026?Sep 12, 2026 •By Daniel SparksPrediction: D-Wave Quantum's Revenue Triples Before 2030Sep 10, 2026 •By Johnny RiceD-Wave, Rigetti, and Quantinuum Just Got $300 Million From Washington. Here's What That Changes for Investors.Sep 10, 2026 •By Geoffrey Seiler3 Quantum Stocks Just Scored $100 Million in Government Funding. Which Is the Best to Buy Now?Sep 8, 2026 •By Rich SmithWhy D-Wave Quantum Stock Popped TodayAug 30, 2026 •By Rick OrfordD-Wave Quantum's Massive Upside Meets a High-Stakes Valuation RealityAbout the AuthorRick is a Wall Street Journal best-selling author with over 20 years of experience trading stocks and options. The most authoritative publications, including Good Morning America, Washington Post, Yahoo Finance, MSN, Business Insider, NBC, FOX, CBS, and ABC News, cover his work. His passion is business, and he works tirelessly to deliver content in an easy-to-understand manner. In 2018, Rick wrote The Financially Independent Millennial to inspire his readers with his story about becoming financially independent at age 35 despite not learning about money when he was younger. His books are easy to read and often refer to key points that “He would tell his younger self.” When not thinking about business, Rick writes (mainly about cruise ship travel) for his travel blog and is an enthusiast of fast cars, technology, & cooking.CMFrickorfordStocks MentionedD-Wave QuantumNASDAQ: QBTS$17.03(+1.34%)+$0.23Motley Fool Stock Advisor’s Latest PickGet Access---% Avg Return*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.