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Upturn AI Summary - About
D-Wave Quantum Inc. Common Stock(QBTS)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for QBTS
10/28/2026: QBTS (3-star) is currently NOT-A-BUY. Pass it for now.
D-Wave Quantum Inc. is a pioneering player in the quantum computing sector, focusing on hybrid quantum-classical solutions through its Leap cloud platform. The company's primary strength lies in its long-standing expertise and established patent portfolio, which enables commercial access to its Advantage systems. While D-Wave offers significant growth potential for investors looking for exposure to quantum technology, it remains in a cash-burning, pre-profitable phase with high execution and competitive risks from well-funded tech giants. The stock is best suited for growth-oriented investors who can tolerate high volatility. Investors should closely monitor commercial adoption rates of the Leap platform and the successful scaling of hardware fidelity.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | The company offers high-growth potential in an emerging sector, balanced by significant execution and technological risk. |
| Momentum investor | Strong fit while signal remains positive | High volatility in the quantum space creates periods of rapid price appreciation when major milestones are announced. |
| Value investor | Weak fit | D-Wave currently lacks the positive earnings and cash flow metrics required for traditional value investing. |
| Dividend investor | Weak fit | The company reinvests all available capital and provides no dividend income. |
| Low-risk investor | Weak fit | The high volatility and early-stage nature of the quantum industry make this unsuitable for risk-averse portfolios. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | High | Speculative sentiment in quantum computing leads to wide price swings. |
| Valuation risk | High | High price-to-sales ratios based on long-term projections leave the stock vulnerable to valuation compression. |
| Competition risk (Big Tech) | High | D-Wave competes against well-funded incumbents like Google and IBM. |
| Business quality | Medium | While the technology is innovative, the business is still in a pre-scale, cash-burning phase. |
| Dividend income | Low / none | There is no current or expected dividend payout for shareholders. |
| Execution risk | High | The ability to deliver functional, scalable hardware on time is critical to long-term survival. |
Price Behavior
Downtrend
The stock has experienced a sustained decline in price over recent periods.
Extreme Price Shocks
The stock has experienced exceptionally large and disruptive price movements during the period.
Analysis of Past Performance
Type Stock | Historic Profit 636.88% | Avg. Invested days 21 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | Stock Returns Performance  5.0 |
| Profits based on simulation | Last Close 10/28/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 4.43B USD | Price to earnings Ratio - | 1Y Target Price 34.65 |
Price to earnings Ratio - | 1Y Target Price 34.65 | ||
Volume (30-day avg) 15.5M shares | Beta 2.17 | 52 Weeks Range 11.26 - 37.62 | Updated Date 10/28/2026 |
52 Weeks Range 11.26 - 37.62 | Updated Date 10/28/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.69 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Leap Cloud Services | Subscription access to quantum computers and professional services. | Revenue comes primarily from companies paying for access to computing power to solve complex problems. |
| Professional Services | Consulting and custom software development for quantum applications. | This helps large organizations integrate quantum technology into their existing workflows. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Valuation
Trailing PE - | Forward PE - | Enterprise Value 3.88B | Price to Sales(TTM) 356.71 |
Enterprise Value 3.88B | Price to Sales(TTM) 356.71 | ||
Enterprise Value to Revenue 312.5 | Enterprise Value to EBITDA -2.07 | Shares Outstanding 376.45M | Shares Floating 361.92M |
Shares Outstanding 376.45M | Shares Floating 361.92M | ||
Percent Insiders 2.2 | Percent Institutions 54.86 |
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
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