D-Wave Quantum posted flat Q2 2026 revenue of $3.1 million but reported dramatic growth in forward-looking metrics: first-half bookings surged 1,120% year over year to $35.5 million, boosted by a $20 million quantum system sale, while remaining performance obligations jumped 668% to $40.7 million. Commercial customers now account for 62.4% of quarterly revenue, up from 45.1% a year ago. The company expanded roadmaps for both its annealing platform (targeting ~20,000 qubits by 2029 and 100,000 by 2031) and its gate-model platform (extending through 2032 toward fault-tolerant systems). Operating expenses rose 93% to $55 million as D-Wave accelerated R&D and commercialization spending, including costs from its January acquisition of Quantum Circuits, Inc. New customer engagements include AT&T, Nasdaq Verafin, and Unisys.
