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Details
- D-Wave reported Q1 2025 revenue of $15 million, representing 509% year-over-year growth, highlighted by the first sale of its Advantage quantum system to the Jülich Supercomputing Centre for integration with the European exascale JUPITER supercomputer.
- The company delivered operational success for major clients, with Ford Otosan deploying D-Wave's hybrid quantum solution to cut vehicle scheduling from 30 minutes to under five minutes, and Japan Tobacco completing a drug-discovery proof-of-concept using quantum AI methods.
- D-Wave published research in Science showing quantum supremacy on a real-world problem, successfully simulating magnetic materials—a task that would take nearly a million years for classical supercomputers—establishing the first supremacy result for a commercially relevant use case.
- Financial performance improved significantly, with gross profit at $13.9 million (a 92.5% margin), net loss dropping from $17.3 million to $5.4 million, and cash reserves reaching $304.3 million after a capital raise.
- The customer base grew to 133, spanning 69 commercial, 52 research, and 12 government clients, including 25 Fortune Global 2000 companies, reflecting increased enterprise adoption of quantum annealing technology.
Impact
D-Wave’s Q1 marked a decisive turn from theoretical advancements to practical, validated quantum solutions, highlighting the company's maturation and industry potential. Its demonstration of quantum supremacy on a useful problem boosts confidence in quantum's business impact and intensifies competition with gate-model rivals like IBM and Google. Strong financials and an expanding client base position D-Wave to accelerate commercialization and challenge industry incumbents through 2026.
