D-Wave Quantum: I Expect The Rally To Fade, Caution Is Advised

  • D-Wave Quantum Inc. delivered impressive Q1 results with 508% revenue growth, but this was driven by a one-off system sale, not recurring QCaaS revenue. Despite a strong cash position from a large equity raise, significant shareholder dilution and ongoing cash burn create uncertainty about future profitability. The path to long-term success hinges on scaling the QCaaS business, expanding enterprise adoption, and fending off competition from tech giants like Google and IBM.