About
D-Wave Quantum (NYSE: QBTS) is the longest-running company in commercial quantum computing and the clear leader in quantum annealing. Its Advantage2 system runs 4,400 physical qubits. The financial results have started to match: FY2025 revenue was $24.6M, up 179% on the prior year, at an 82.6% gross margin, and first-quarter 2026 bookings passed $32.8M. The company changed shape in January 2026 when it acquired the Yale spinout Quantum Circuits Inc. for $550M. That deal made D-Wave the first quantum company to offer both annealing and gate-model hardware, and it plans to ship its first dual-rail gate-model machine later in 2026 from a new research center in New Haven, Connecticut. Commercial traction has followed. Volkswagen, Mastercard, and BBVA are among the named customers, and recent contracts include a $20M agreement with Florida Atlantic University, a $10M quantum-computing-as-a-service deal with a Fortune 100 company, and an $8.4M Advantage2 deployment. Drug discovery has produced one of the clearest demonstrations of value. PolarisQB's QuADD platform, running on D-Wave Advantage, cut early-stage drug design from years to hours by searching as many as 10^30 candidate molecules. In a January 2026 head-to-head test it outperformed the AI-based BInD system on both binding affinity and synthetic complexity. Defense work has grown alongside the commercial pipeline. During 2025, D-Wave worked with Anduril Industries and Davidson Technologies on missile-defense trajectory optimization, reporting a 10x speedup over classical methods on its Advantage annealer. It also secured a DoD Tradewinds Awardable designation, which lets US Department of Defense agencies procure its systems directly. Other deployments reach into agriculture, logistics, and manufacturing. In February 2025, D-Wave partnered with Staque and Verge Ag on vehicle-routing optimization for farming, one of the first commercial quantum optimization projects in the sector. In March 2025, Ford Otosan pu
Quantum Specifications
| Qubit Technology | Quantum-annealing |
| Physical Qubits | 4,400 |
| Error Correction | Not-applicable |
| Quantum Focus | hardware |
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