D-Wave Quantum: A $100 Million Grant and Record Orders Dwarf a Revenue Sag Ahead of Investor Day

Despite an 81% revenue drop to $2.9M, D-Wave posts record $33.4M in orders and secures a $100M CHIPS Act grant. Stock surges 58% in 30 days, with 14 of 17 analysts rating Buy.

D-Wave Quantum: A $100 Million Grant and Record Orders Dwarf a Revenue Sag Ahead of Investor Day. D-Wave Quantum heads into its first-ever Investor Day on Sunday with an unusual mix of signals. On one hand, the company’s quarterly revenue collapsed 81% to just $2.9 million, stripped of a large system sale that had boosted the prior-year figure. On the other, new orders hit a record $33.4 million — a near-2,000% leap — underpinned by a $20 million system sale to Florida Atlantic University and a $10 million cloud-services contract with a Fortune 100 firm. The order book suggests commercial momentum is building even as top-line numbers churn. That divergence helps explain why the market cheered a $100 million grant commitment from the U.S. Commerce Department under the CHIPS and Science Act. Announced on May 21, the memorandum of understand...