D-Wave Quantum Inc. (NYSE: QBTS) reported a 1,120% surge in bookings for the second quarter of fiscal 2026, according to its earnings release on August 6, 2026. Despite this dramatic growth, the company's stock slid in after-hours trading as investors weighed ongoing losses and cash burn.
The quantum computing company posted revenue of $4.1 million for the quarter, up from $2.5 million in the same period last year, representing a 64% increase. Net loss widened to $24.6 million, or $0.12 per share, compared to a loss of $18.3 million, or $0.10 per share, in the year-ago quarter.
Bookings, which represent customer orders and commitments, totaled $12.5 million in Q2 2026, a 1,120% jump from $1.0 million in Q2 2025. The company attributed the surge to increased adoption of its annealing quantum computers and quantum cloud services.
Despite the positive bookings news, shares fell approximately 8% in after-hours trading on August 6, 2026, as analysts noted that the company's losses were larger than expected and that the bookings figure, while impressive, came from a low base. D-Wave continues to face competition from other quantum computing firms and uncertainty about the timeline for commercial quantum advantage.
Management reiterated its full-year 2026 revenue guidance of $18–$22 million, and said it remains on track to achieve positive gross margin by the end of the year. The company ended the quarter with $210 million in cash and equivalents, which it says is sufficient to fund operations into 2028.
