Burnaby-based D-Wave saw its stock soar 51.2% Thursday following first-quarter results that showed US$15 million in revenue—a 509% year-over-year increase. The gain was largely driven by the sale of a quantum computer to a German research centre. Despite posting a US$5.4 million loss, the firm maintains US$304.3 million in cash reserves, providing runway toward profitability.
CEO Alan Baratz defended the company’s progress amid skepticism over quantum’s maturity, asserting its systems are already addressing business needs. Future orders total US$1.6 million. The firm’s share price returned to March highs following a prior technology breakthrough announcement.
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