2023 Q4 Form 10-Q Financial Statement

#000190798223000043 Filed on November 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $2.906M $2.562M
YoY Change 21.34% 51.15%
Cost Of Revenue $939.0K $1.033M
YoY Change -11.83% 69.62%
Gross Profit $1.967M $1.529M
YoY Change 47.89% 40.79%
Gross Profit Margin 67.69% 59.68%
Selling, General & Admin $10.55M $10.48M
YoY Change -12.49% 16.15%
% of Gross Profit 536.5% 685.22%
Research & Development $7.956M $9.459M
YoY Change -22.77% 28.97%
% of Gross Profit 404.47% 618.64%
Depreciation & Amortization $224.0K $200.0K
YoY Change -41.82% -40.83%
% of Gross Profit 11.39% 13.08%
Operating Expenses $18.51M $19.94M
YoY Change -17.23% 21.9%
Operating Profit -$16.54M -$18.41M
YoY Change -21.34% 20.56%
Interest Expense $1.785M $450.0K
YoY Change -78.23% -66.32%
% of Operating Profit
Other Income/Expense, Net -$1.257M $2.578M
YoY Change -2956.82% 16.39%
Pretax Income -$16.01M -$15.83M
YoY Change 25.22% 21.27%
Income Tax
% Of Pretax Income
Net Earnings -$16.01M -$15.80M
YoY Change 25.22% 20.61%
Net Earnings / Revenue -551.07% -616.71%
Basic Earnings Per Share -$0.12
Diluted Earnings Per Share -$0.10 -$0.12
COMMON SHARES
Basic Shares Outstanding 113.4M shares 98.90M shares
Diluted Shares Outstanding 133.2M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.31M $53.32M
YoY Change 484.67% 287.39%
Cash & Equivalents $41.31M $53.32M
Short-Term Investments
Other Short-Term Assets $1.923M $1.750M
YoY Change -47.21% -78.63%
Inventory $2.078M $2.244M
Prepaid Expenses
Receivables $1.652M $763.0K
Other Receivables $86.00K $130.0K
Total Short-Term Assets $47.05M $58.19M
YoY Change 237.85% 121.45%
LONG-TERM ASSETS
Property, Plant & Equipment $10.77M $1.879M
YoY Change 369.66% -25.94%
Goodwill
YoY Change
Intangibles $179.0K $195.0K
YoY Change -26.64% -25.57%
Long-Term Investments
YoY Change
Other Assets $1.357M $1.351M
YoY Change 0.44% 0.45%
Total Long-Term Assets $12.31M $11.99M
YoY Change -5.47% -1.84%
TOTAL ASSETS
Total Short-Term Assets $47.05M $58.19M
Total Long-Term Assets $12.31M $11.99M
Total Assets $59.36M $70.18M
YoY Change 120.27% 82.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.808M $1.540M
YoY Change 9.54% -51.23%
Accrued Expenses $6.672M $9.604M
YoY Change -0.22% 80.59%
Deferred Revenue $2.669M $2.177M
YoY Change 49.86% 9.45%
Short-Term Debt $0.00 $110.0K
YoY Change -100.0% -73.81%
Long-Term Debt Due $399.0K $30.01M
YoY Change -76.12% 1244.35%
Total Short-Term Liabilities $11.25M $43.33M
YoY Change -29.01% 197.21%
LONG-TERM LIABILITIES
Long-Term Debt $63.85M $9.108M
YoY Change 717.44% -29.46%
Other Long-Term Liabilities $8.737M $8.950M
YoY Change
Total Long-Term Liabilities $72.59M $9.108M
YoY Change 829.29% -29.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.25M $43.33M
Total Long-Term Liabilities $72.59M $9.108M
Total Liabilities $83.84M $61.38M
YoY Change 155.13% 56.59%
SHAREHOLDERS EQUITY
Retained Earnings -$483.1M -$443.1M
YoY Change 28.21% 22.03%
Common Stock $16.00K $15.00K
YoY Change 45.45% 36.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$24.48M $8.796M
YoY Change
Total Liabilities & Shareholders Equity $59.36M $70.18M
YoY Change 120.27% 82.34%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$16.01M -$15.80M
YoY Change 25.22% 20.61%
Depreciation, Depletion And Amortization $224.0K $200.0K
YoY Change -41.82% -40.83%
Cash From Operating Activities -$14.74M -$16.87M
YoY Change 35.38% 32.1%
INVESTING ACTIVITIES
Capital Expenditures $450.0K $100.0K
YoY Change 147.25% -202.04%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$450.0K -$100.0K
YoY Change 147.25% 2.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.226M 62.75M
YoY Change -24.94% 288.95%
NET CHANGE
Cash From Operating Activities -14.74M -16.87M
Cash From Investing Activities -450.0K -100.0K
Cash From Financing Activities 3.226M 62.75M
Net Change In Cash -11.96M 45.78M
YoY Change 76.68% 1302.57%
FREE CASH FLOW
Cash From Operating Activities -$14.74M -$16.87M
Capital Expenditures $450.0K $100.0K
Free Cash Flow -$15.19M -$16.97M
YoY Change 37.22% 33.91%

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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
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1704000 usd
us-gaap Increase Decrease In Contract With Customer Liability
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479000 usd
us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Increase Decrease In Operating Lease Liability
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NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
141000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
249000 usd
us-gaap Payments For Software
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us-gaap Payments For Software
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67000 usd
us-gaap Net Cash Provided By Used In Investing Activities
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-176000 usd
us-gaap Net Cash Provided By Used In Investing Activities
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qbts Reverse Recapitalization Net Of Redemption And Transaction Costs
ReverseRecapitalizationNetOfRedemptionAndTransactionCosts
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qbts Reverse Recapitalization Net Of Redemption And Transaction Costs
ReverseRecapitalizationNetOfRedemptionAndTransactionCosts
4100000 usd
qbts Payments Of Reverse Recapitalization Transaction Costs
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0 usd
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us-gaap Proceeds From Warrant Exercises
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us-gaap Proceeds From Warrant Exercises
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us-gaap Proceeds From Related Party Debt
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us-gaap Proceeds From Stock Plans
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us-gaap Proceeds From Stock Plans
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qbts Proceeds From Government Assistance
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us-gaap Proceeds From Stock Options Exercised
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1890000 usd
us-gaap Proceeds From Stock Options Exercised
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29007000 usd
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19870000 usd
us-gaap Repayments Of Other Long Term Debt
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390000 usd
us-gaap Repayments Of Other Long Term Debt
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us-gaap Payments Of Debt Extinguishment Costs
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us-gaap Net Income Loss
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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92408000 usd
us-gaap Net Cash Provided By Used In Financing Activities
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38967000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
46252000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
4281000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7065000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9483000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
53317000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13764000 usd
qbts Transfer From Inventory To Property And Equipment
TransferFromInventoryToPropertyAndEquipment
152000 usd
qbts Transfer From Inventory To Property And Equipment
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qbts Purchases Of Property And Equipment Included In Accounts Payable
PurchasesOfPropertyAndEquipmentIncludedInAccountsPayable
53000 usd
qbts Purchases Of Property And Equipment Included In Accounts Payable
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qbts Directors And Officers Insurance Noncash Financing Activity
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qbts Directors And Officers Insurance Noncash Financing Activity
DirectorsAndOfficersInsuranceNoncashFinancingActivity
2893000 usd
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0 usd
qbts Warrants Issued
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8101000 usd
qbts Reverse Recapitalization Noncash Financing
ReverseRecapitalizationNoncashFinancing
0 usd
qbts Reverse Recapitalization Noncash Financing
ReverseRecapitalizationNoncashFinancing
5713000 usd
us-gaap Stock Issued1
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us-gaap Stock Issued1
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0 usd
us-gaap Conversion Of Stock Amount Converted1
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189871000 usd
us-gaap Nature Of Operations
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Description of business<div style="margin-bottom:0.11pt;margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">D-Wave Quantum Inc. ("D-Wave" or the “Company”) was incorporated under the General Corporation Law of the State of Delaware on January 24, 2022. The Company was formed for the purpose of effecting a merger between DPCM Capital, Inc. (“DPCM”), D-Wave Systems Inc. (“D-Wave Systems”), and certain other affiliated entities through a series of transactions (the “Merger”) pursuant to the definitive agreement entered into on February 7, 2022 (the “Transaction Agreement”). On August 5, 2022, in conjunction with the Merger, DPCM and D-Wave Systems became wholly-owned subsidiaries of, and are operated by, the Company. Upon the completion of the Merger, the Company succeeded to all of the operations of its predecessor, D-Wave Systems. </span></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">D-Wave is a commercial quantum computing company that provides customers with a full suite of professional services and web-based access to its superconducting quantum computer systems and integrated software environment through its cloud service, Leap</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">TM</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Historically, the Company has developed its own annealing superconducting quantum computer and associated software, and its current generation quantum system is the Advantage</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">TM</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> system.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">D-Wave has three operating facilities, which it leases, in North America. These facilities are located in Burnaby, British Columbia, Richmond, British Columbia, and Palo Alto, California.</span></div>
CY2023Q3 qbts Number Of Operating Facilities
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CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
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CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q3 us-gaap Net Income Loss
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us-gaap Net Cash Provided By Used In Operating Activities
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CY2023Q3 us-gaap Cash
Cash
53300000 usd
CY2023Q3 qbts Working Capital Deficit
WorkingCapitalDeficit
14900000 usd
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EquityLineOfCreditRightToSellCommonStock
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CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
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CY2022Q2 qbts Equity Line Of Credit Ownership Restriction Percentage
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EquityLineOfCreditFloorStockPrice
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us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
61300000 usd
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
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39487104 shares
CY2022Q2 qbts Equity Line Of Credit Floor Stock Price
EquityLineOfCreditFloorStockPrice
1.00
CY2022Q2 qbts Equity Line Of Credit Floor Stock Price
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1.00
us-gaap Use Of Estimates
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<div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of estimates</span></div><div style="margin-bottom:0.11pt;margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the condensed financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in the Company’s condensed consolidated financial statements and accompanying notes as of the date of the condensed consolidated financial statements. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. On an ongoing basis, management evaluates its estimates as there are changes in circumstances, facts, and experience.</span></div>The Company’s accounting estimates and assumptions may change over time in response to risks and uncertainties, including uncertainty in the current economic environment due to inflation, increased interest rates, Ukraine/Russia conflict, the Israel-Hamas War, and any evolutions thereof. The change could be material in future periods. As of the date of issuance of these condensed consolidated financial statements, the Company is not aware of any specific event or circumstances that would require the Company to update estimates, judgments or revise the carrying value of any assets or liabilities. Actual results may differ from those estimates or assumptions.
CY2023Q3 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
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CY2022Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
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1200000 usd
CY2023Q3 qbts Class Of Warrant Or Right Quoted Price
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17916606 shares
CY2022Q3 qbts Scientific Research And Experimental Development Investment Tax Credit
ScientificResearchAndExperimentalDevelopmentInvestmentTaxCredit
0 usd
qbts Scientific Research And Experimental Development Investment Tax Credit
ScientificResearchAndExperimentalDevelopmentInvestmentTaxCredit
100000 usd
qbts Scientific Research And Experimental Development Investment Tax Credit
ScientificResearchAndExperimentalDevelopmentInvestmentTaxCredit
0 usd
CY2023Q3 qbts Scientific Research And Experimental Development Investment Tax Credit
ScientificResearchAndExperimentalDevelopmentInvestmentTaxCredit
0 usd
CY2022Q3 qbts Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
1.4541326
CY2022Q3 qbts Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
1.4541326
CY2022Q3 qbts Reverse Recapitalization Conversion Ratio
ReverseRecapitalizationConversionRatio
1
CY2022Q3 qbts Commitment Fee Liability
CommitmentFeeLiability
2600000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2562000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q3 qbts Accounts Receivable After Allowance For Credit Loss Excluding Unbilled Receivables Current
AccountsReceivableAfterAllowanceForCreditLossExcludingUnbilledReceivablesCurrent
395000 usd
CY2022Q4 qbts Accounts Receivable After Allowance For Credit Loss Excluding Unbilled Receivables Current
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815000 usd
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CY2023Q3 qbts Contract With Customer Deposit Liability
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ContractWithCustomerDepositLiability
45000 usd
CY2023Q3 qbts Contract With Customer Liability And Deposit
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2314000 usd
CY2022Q4 qbts Contract With Customer Liability And Deposit
ContractWithCustomerLiabilityAndDeposit
1835000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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ContractWithCustomerLiabilityAdditions
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qbts Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
3874000 usd
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2269000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1800000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
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CY2023Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
4400000 usd
CY2023Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.84
CY2023Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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P12M
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AccruedTransactionCostsCurrent
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AccruedTransactionCostsCurrent
2459000 usd
CY2023Q3 us-gaap Accrued Professional Fees Current
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2642000 usd
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1858000 usd
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EmployeeRelatedLiabilitiesCurrent
3707000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1641000 usd
CY2023Q3 us-gaap Other Accrued Liabilities Current
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993000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
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233000 usd
CY2023Q3 qbts Accrued Payroll Expenses Current
AccruedPayrollExpensesCurrent
722000 usd
CY2022Q4 qbts Accrued Payroll Expenses Current
AccruedPayrollExpensesCurrent
451000 usd
CY2023Q3 qbts Contract With Customer Deposit Liability Current
ContractWithCustomerDepositLiabilityCurrent
45000 usd
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ContractWithCustomerDepositLiabilityCurrent
45000 usd
CY2023Q3 us-gaap Operating Lease Liability Current
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1390000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1533000 usd
CY2023Q3 us-gaap Notes Payable Current
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NotesPayableCurrent
420000 usd
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9604000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8640000 usd
CY2023Q3 qbts Prepaid Services Current
PrepaidServicesCurrent
377000 usd
CY2022Q4 qbts Prepaid Services Current
PrepaidServicesCurrent
391000 usd
CY2023Q3 qbts Prepaid Software Current
PrepaidSoftwareCurrent
563000 usd
CY2022Q4 qbts Prepaid Software Current
PrepaidSoftwareCurrent
559000 usd
CY2023Q3 us-gaap Prepaid Rent
PrepaidRent
182000 usd
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
96000 usd
CY2023Q3 qbts Prepaid Commissions Current
PrepaidCommissionsCurrent
87000 usd
CY2022Q4 qbts Prepaid Commissions Current
PrepaidCommissionsCurrent
268000 usd
CY2023Q3 us-gaap Prepaid Insurance
PrepaidInsurance
338000 usd
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
697000 usd
CY2023Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
142000 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
89000 usd
CY2023Q3 qbts Receivable Research Incentives Current
ReceivableResearchIncentivesCurrent
128000 usd
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ReceivableResearchIncentivesCurrent
264000 usd
CY2023Q3 us-gaap Deposits Assets Current
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CY2022Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
36000 usd
CY2023Q3 qbts Directors And Officers Insurance Current
DirectorsAndOfficersInsuranceCurrent
36000 usd
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DirectorsAndOfficersInsuranceCurrent
1449000 usd
CY2023Q3 us-gaap Unbilled Receivables Current
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0 usd
CY2022Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
58000 usd
CY2023Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1870000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3907000 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
25729000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
25405000 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
23850000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
23111000 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1879000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2294000 usd
CY2023Q3 us-gaap Depreciation
Depreciation
200000 usd
CY2022Q3 us-gaap Depreciation
Depreciation
300000 usd
us-gaap Depreciation
Depreciation
700000 usd
us-gaap Depreciation
Depreciation
1000000 usd
CY2023Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
30006000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
1671000 usd
CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
9108000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
7811000 usd
CY2023Q3 qbts Equity Line Of Credit Right To Sell Common Stock Maximum Amount
EquityLineOfCreditRightToSellCommonStockMaximumAmount
50000000 usd
CY2023Q3 qbts Equity Line Of Credit Right To Sell Common Stock Maximum Amount
EquityLineOfCreditRightToSellCommonStockMaximumAmount
50000000 usd
CY2023Q3 qbts Debt Instrument Premium Payment Percentage Of Amount Prepaid From Common Stock Issuance Proceeds
DebtInstrumentPremiumPaymentPercentageOfAmountPrepaidFromCommonStockIssuanceProceeds
0.10
qbts Class Of Warrant Or Right Exercised
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0 shares
CY2023Q3 us-gaap Class Of Warrant Or Right Outstanding
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17916606 shares
CY2022Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
1 shares
CY2022Q3 qbts Class Of Warrant Or Right Exercise Price Of Warrants Or Rights Prior To Exchange Ratio
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRightsPriorToExchangeRatio
11.50
CY2022Q3 qbts Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
1.4541326
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
7.91
CY2022Q3 qbts Class Of Warrant Or Right Redemption Price
ClassOfWarrantOrRightRedemptionPrice
0.10
CY2022Q3 qbts Class Of Warrant Or Right Redemption Notice Period
ClassOfWarrantOrRightRedemptionNoticePeriod
P30D
CY2022Q3 qbts Class Of Warrant Or Right Redemption Share Price Threshold Trading Days
ClassOfWarrantOrRightRedemptionSharePriceThresholdTradingDays
20 day
CY2022Q3 qbts Class Of Warrant Or Right Redemption Share Price Threshold Consecutive Trading Days
ClassOfWarrantOrRightRedemptionSharePriceThresholdConsecutiveTradingDays
P30D
CY2022Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
10.00
CY2022Q3 qbts Class Of Warrant Or Right Reference Value
ClassOfWarrantOrRightReferenceValue
18.00
CY2022Q3 qbts Class Of Warrant Or Right Redemption Notice Period
ClassOfWarrantOrRightRedemptionNoticePeriod
P30D
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
1155713 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
1155713 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
15387546 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.76
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y1M13D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
8763000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
2329067 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.81
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
144000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1019743 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.57
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
388956 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
2.36
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
11649780 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.66
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y3M25D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1618000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
9809565 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.24
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y1M17D
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1438000 usd
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
1840072 shares
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
3.89
qbts Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedWeightedAverageRemainingContractualTerm
P8Y4M6D
CY2023Q3 qbts Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedIntrinsicValue
180000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
11649780 shares
CY2023Q3 qbts Share Based Compensation Arrangement By Share Based Payment Award Options Conversion Ratio
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsConversionRatio
0.889657
CY2023Q3 qbts Share Based Compensation Arrangement By Share Based Payment Award Options To Be Issued Upon Exercise
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsToBeIssuedUponExercise
9419509 shares
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
5600000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3100000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3100000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133222318 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
116256805 shares
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5884000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1781000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17362000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3355000 usd
us-gaap Lease Cost
LeaseCost
1100000 usd
us-gaap Lease Cost
LeaseCost
1100000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-15829000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-15829000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-13311000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-13311000 usd
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
133222318 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
116256805 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.12
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.12
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-66335000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-66335000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-38740000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-38740000 usd
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
131373959 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
131373959 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
122337727 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
122337727 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.50
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.50
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.32
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.32
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
48643077 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
43981267 shares

Files In Submission

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