D-Wave Quantum Inc. (QBTS) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 607.11M | 896.23M | 848.14M | 828.54M | 310.87M | 185.04M | 35.08M | 46.91M | 33.69M | 47.05M | 58.19M | 12.84M | 14.91M | 13.93M | 26.28M | 23.18M | 27.82M | 16.02M | 506.25K | 693.88K |
| Cash & Short-Term Investments | 588.39M | 884.48M | 836.23M | 819.31M | 304.32M | 177.98M | 29.27M | 40.86M | 27.3M | 41.31M | 53.32M | 7.51M | 8.99M | 7.07M | 13.76M | 10.47M | 17.66M | 9.48M | 248.58K | 353.43K |
| Cash Only | 338.2M | 635.35M | 836.23M | 819.31M | 304.32M | 177.98M | 29.27M | 40.86M | 27.3M | 41.31M | 53.32M | 7.51M | 8.99M | 7.07M | 13.76M | 10.47M | 17.66M | 9.48M | 248.58K | 353.43K |
| Short-Term Investments | 250.2M | 249.13M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 10.65M | 4.68M | 4.42M | 2.44M | 1.05M | 1.42M | 1.46M | 1.57M | 1.74M | 1.65M | 891K | 803K | 929K | 1.08M | 2.04M | 3.37M | 2.82M | 2.07M | 0 | 0 |
| Days Sales Outstanding | 241.34 | 152.16 | 84.4 | 51.22 | 7.4 | 57.3 | 74.44 | 68.89 | 62.52 | 40.25 | 30.42 | 46.17 | 57.08 | 59.98 | 146.9 | 205.4 | 128.46 | 78.5 | - | - |
| Inventory | 2.92M | 2.78M | 2.83M | 2.45M | 1.7M | 1.69M | 1.9M | 2.13M | 2.08M | 2.08M | 2.24M | 2.33M | 2.24M | 2.2M | 2.53M | 2.15M | 2.05M | 2.11M | 0 | 0 |
| Days Inventory Outstanding | 246.25 | 266.45 | 226.95 | 168.74 | 135.64 | 197.48 | 224.1 | 240.66 | 234.67 | 211.73 | 203.46 | 207.29 | 171.79 | 189.99 | 329.24 | 308.23 | 304.33 | 221.77 | - | - |
| Other Current Assets | 1.17M | 803K | 1.37M | 791K | 1.21M | 1.59M | 487K | 382K | 560K | 0 | 36K | 0 | 580K | 1.45M | 2.03M | 5.67M | 3.95M | 1.25M | 15.75K | 0 |
| Total Non-Current Assets | 592.71M | 19.58M | 17.68M | 15.06M | 14.73M | 14.81M | 14.48M | 14.9M | 14.92M | 12.31M | 11.98M | 12.07M | 12.55M | 13.02M | 12.21M | 12.5M | 12.96M | 13.45M | 300.15M | 300.12M |
| Property, Plant & Equipment | 25.4M | 14.36M | 12.32M | 11.42M | 11.08M | 11.39M | 11.06M | 10.79M | 10.79M | 10.77M | 10.44M | 10.51M | 10.97M | 11.43M | 10.6M | 10.89M | 11.34M | 11.83M | 0 | 0 |
| Fixed Asset Turnover | 0.14x | 0.21x | 0.31x | 0.28x | 1.33x | 0.21x | 0.17x | 0.20x | 0.23x | 0.27x | 0.24x | 0.16x | 0.14x | 0.22x | 0.16x | 0.12x | 0.15x | 0.21x | - | - |
| Goodwill | 342.59M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 215.28M | 915K | 803K | 586K | 531K | 490K | 436K | 408K | 302K | 179K | 195K | 205K | 228K | 244K | 262K | 262K | 266K | 272K | 0 | 0 |
| Long-Term Investments | 4.23M | 2.39M | 3.4M | 2.57M | 2.57M | 2.57M | 2.57M | 2.4M | 2.57M | 1.17M | 0 | 0 | 0 | 1.17M | 0 | 0 | 0 | 1.17M | 300.15M | 300.12M |
| Other Non-Current Assets | 5.21M | 1.92M | 1.15M | 483K | 547K | 355K | 415K | 1.31M | 1.25M | 189K | 1.35M | 1.35M | 1.35M | 183K | 1.34M | 1.35M | 1.35M | 184K | 0 | 0 |
| Total Assets | 1.2B | 915.81M | 865.82M | 843.6M | 325.6M | 199.85M | 49.56M | 61.81M | 48.6M | 59.36M | 70.18M | 24.91M | 27.46M | 26.95M | 38.49M | 35.69M | 40.77M | 29.47M | 300.65M | 300.82M |
| Asset Turnover | 0.00x | 0.00x | 0.00x | 0.01x | 0.06x | 0.02x | 0.03x | 0.04x | 0.05x | 0.04x | 0.05x | 0.07x | 0.06x | 0.07x | 0.05x | 0.04x | 0.05x | 0.01x | 0.00x | 0.00x |
| Asset Growth % | 268.49% | 358.24% | 1646.98% | 1264.81% | 569.89% | 236.7% | -29.38% | 148.15% | 77.01% | 120.27% | 82.34% | -30.2% | -32.65% | -8.55% | -87.2% | -88.14% | -86.47% | - | - | - |
| Total Current Liabilities | 28.36M | 21.15M | 15.51M | 19.27M | 15M | 30.14M | 25.83M | 42.94M | 10.86M | 11.25M | 43.33M | 33.64M | 18.08M | 16.04M | 14.58M | 36.3M | 28.71M | 10.45M | 23.93M | 34.69M |
| Accounts Payable | 1.71M | 950K | 992K | 1.19M | 1.02M | 815K | 696K | 1.17M | 1.04M | 1.47M | 1.54M | 4.11M | 5.61M | 3.76M | 3.16M | 2.48M | 3.05M | 2.11M | 0 | 0 |
| Days Payables Outstanding | 114.97 | 92.29 | 93.81 | 89.9 | 73.51 | 83.14 | 103.68 | 126.2 | 141.24 | 147.26 | 251.46 | 441.1 | 362.63 | 277.77 | 396.77 | 406.2 | 377.02 | 221.24 | - | - |
| Short-Term Debt | 140K | 134K | 144K | 0 | 348K | 348K | 14.07M | 32.67M | 369K | 399K | 30.11M | 16.12M | 1.21M | 2.28M | 2.68M | 21.39M | 15.28M | 432K | 0 | 0 |
| Deferred Revenue (Current) | 9.49M | 2.78M | 3.39M | 4.91M | 5.55M | 18.69M | 2.91M | 2.59M | 2M | 2.67M | 2.22M | 2.87M | 1.87M | 1.83M | 2.01M | 2.62M | 2.57M | 2.69M | 0 | 0 |
| Other Current Liabilities | 8.8M | 10.35M | 6.17M | 7.31M | 2.39M | 5.5M | 3.89M | 2.53M | 2.08M | 3.25M | 3.71M | 3.01M | 4.85M | 1.64M | 1.44M | 1.86M | 1.5M | 1.11M | 23.93M | 34.69M |
| Current Ratio | 21.41x | 42.38x | 54.68x | 42.99x | 20.73x | 6.14x | 1.36x | 1.09x | 3.10x | 4.18x | 1.34x | 0.38x | 0.82x | 0.87x | 1.80x | 0.64x | 0.97x | 1.53x | 0.02x | 0.02x |
| Quick Ratio | 21.31x | 42.25x | 54.49x | 42.86x | 20.61x | 6.08x | 1.28x | 1.04x | 2.91x | 4.00x | 1.29x | 0.31x | 0.70x | 0.73x | 1.63x | 0.58x | 0.90x | 1.33x | 0.02x | 0.02x |
| Cash Conversion Cycle | 372.62 | 326.32 | 217.54 | 130.06 | 69.54 | 171.64 | 194.86 | 183.35 | 155.95 | 104.72 | -17.59 | -187.65 | -133.76 | -27.8 | 79.38 | 107.43 | 55.77 | 79.02 | - | - |
| Total Non-Current Liabilities | 47.21M | 42.44M | 179.75M | 130.07M | 103.21M | 107.06M | 40.65M | 40.38M | 74.7M | 72.59M | 18.05M | 19.16M | 16.69M | 40.37M | 24.62M | 19.48M | 19.93M | 37.38M | 0 | 0 |
| Long-Term Debt | 35.42M | 35.83M | 32.05M | 32.06M | 30.37M | 30.13M | 32.01M | 31.45M | 63.04M | 63.85M | 9.11M | 8.47M | 8.26M | 31.17M | 12.91M | 12.9M | 13.08M | 30.31M | 0 | 0 |
| Capital Lease Obligations | 9.7M | 6.05M | 6.1M | 6.32M | 6.21M | 6.39M | 6.97M | 6.81M | 6.98M | 7.03M | 6.88M | 7.16M | 7.17M | 7.3M | 6.21M | 6.56M | 6.86M | 6.99M | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 140.97M | 91.04M | 65.93M | 69.88M | 1.61M | 2.09M | 4.28M | 1.63M | 1.97M | 3.4M | 1.25M | 1.89M | 5.5M | 0 | 0 | 18K | 0 | 0 |
| Total Liabilities | 75.56M | 63.58M | 195.27M | 149.35M | 118.21M | 137.21M | 66.48M | 83.33M | 85.56M | 83.84M | 61.38M | 52.8M | 34.77M | 56.41M | 39.2M | 55.78M | 48.65M | 47.82M | 23.93M | 34.69M |
| Total Debt | 46.82M | 43.46M | 39.79M | 39.98M | 38.45M | 38.38M | 54.63M | 72.41M | 71.84M | 72.65M | 47.49M | 33.22M | 18.12M | 42.28M | 23.27M | 42.42M | 36.91M | 39.42M | 0 | 0 |
| Net Debt | -291.38M | -591.89M | -796.44M | -779.33M | -265.87M | -139.6M | 25.36M | 31.55M | 44.53M | 31.34M | -5.82M | 25.7M | 9.13M | 35.22M | 9.5M | 31.95M | 19.25M | 29.94M | -248.58K | -353.43K |
| Debt / Equity | 0.04x | 0.05x | 0.06x | 0.06x | 0.19x | 0.61x | - | - | - | - | 5.40x | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -9.46x | -11.52x | -695.45x | -811.28x | -22.99x | -205.42x | -18.25x | -14.33x | -14.19x | - | -8.56x | -13.02x | -114.12x | -21.58x | -17.40x | -10.81x | -182.38x | -11.16x | -19.53x | -21.55x |
| Total Equity | 1.12B | 852.23M | 670.55M | 694.25M | 207.39M | 62.65M | -16.91M | -21.51M | -36.96M | -24.48M | 8.8M | -27.89M | -7.31M | -29.46M | -710K | -20.09M | -7.88M | -18.36M | 276.72M | 266.13M |
| Equity Growth % | 442.1% | 1260.39% | 4064.26% | 3326.99% | 661.16% | 355.9% | -292.3% | 22.87% | -405.36% | 16.91% | 1338.87% | -38.82% | 7.14% | -60.51% | -100.26% | -107.55% | -102.94% | - | - | - |
| Book Value per Share | 3.06 | 2.41 | 1.96 | 2.36 | 0.72 | 0.27 | -0.08 | -0.12 | -0.23 | -0.15 | 0.07 | -0.22 | -0.06 | -0.25 | -0.01 | -0.18 | -0.07 | -0.15 | 2.52 | 2.42 |
| Total Shareholders' Equity | 1.12B | 852.23M | 670.55M | 694.25M | 207.39M | 62.65M | -16.91M | -21.51M | -36.96M | -24.48M | 8.8M | -27.89M | -7.31M | -29.46M | -710K | -20.09M | -7.88M | -18.36M | 276.72M | 266.13M |
| Common Stock | 37K | 35K | 34K | 33K | 29K | 27K | 20K | 18K | 16K | 16K | 15K | 12K | 12K | 11K | 11K | 2.81M | 2.62M | 0 | 300M | 261.13M |
| Retained Earnings | -1B | -982M | -939.68M | -799.69M | -632.36M | -626.94M | -540.86M | -518.15M | -500.37M | -483.06M | -443.13M | -427.3M | -401.4M | -400.35M | -363.14M | -350.08M | -336.88M | -346.64M | -23.28M | -13.34M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -9.16M | -9.02M | -9.13M | -9.22M | -10.01M | -10.51M | -10.6M | -10.45M | -10.47M | -10.52M | -10.47M | -10.49M | -10.42M | -10.4M | -10.43M | -10.48M | -10.51M | -10.44M | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |