2024 Q1 Form 10-K Financial Statement

#000190798224000049 Filed on March 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $2.465M $2.906M $8.758M
YoY Change 55.72% 21.34% 22.1%
Cost Of Revenue $806.0K $939.0K $4.136M
YoY Change -30.64% -11.83% 41.5%
Gross Profit $1.659M $1.967M $4.622M
YoY Change 294.06% 47.89% 8.75%
Gross Profit Margin 67.3% 67.69% 52.77%
Selling, General & Admin $10.65M $10.55M $47.29M
YoY Change -24.98% -12.49% 49.62%
% of Gross Profit 641.95% 536.5% 1023.15%
Research & Development $8.525M $7.956M $37.88M
YoY Change -21.9% -22.77% 18.0%
% of Gross Profit 513.86% 404.47% 819.52%
Depreciation & Amortization $229.0K $224.0K $1.054M
YoY Change -32.45% -41.82% -25.93%
% of Gross Profit 13.8% 11.39% 22.8%
Operating Expenses $19.18M $18.51M $85.17M
YoY Change -23.64% -17.23% 33.68%
Operating Profit -$17.52M -$16.54M -$80.55M
YoY Change -29.06% -21.34% 35.47%
Interest Expense $1.719M $1.785M -$37.00K
YoY Change 278.63% -78.23% -100.8%
% of Operating Profit
Other Income/Expense, Net $204.0K -$1.257M -$2.132M
YoY Change 148.78% -2956.82% -126.89%
Pretax Income -$17.31M -$16.01M -$82.72M
YoY Change -29.65% 25.22% 60.52%
Income Tax
% Of Pretax Income
Net Earnings -$17.30M -$16.01M -$82.72M
YoY Change -29.67% 25.22% 60.61%
Net Earnings / Revenue -701.83% -551.07% -944.45%
Basic Earnings Per Share -$0.11 -$0.60
Diluted Earnings Per Share -$0.11 -$0.10 -$0.60
COMMON SHARES
Basic Shares Outstanding 116.8M shares 113.4M shares 138.0M shares
Diluted Shares Outstanding 161.3M shares 138.0M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.30M $41.31M $41.31M
YoY Change 203.78% 484.67% 484.67%
Cash & Equivalents $27.30M $41.31M
Short-Term Investments
Other Short-Term Assets $2.569M $1.923M $1.923M
YoY Change -8.71% -47.21% -47.21%
Inventory $2.079M $2.078M $2.078M
Prepaid Expenses
Receivables $1.735M $1.652M $1.652M
Other Receivables $0.00 $86.00K $86.00K
Total Short-Term Assets $33.69M $47.05M $47.05M
YoY Change 125.91% 237.85% 237.85%
LONG-TERM ASSETS
Property, Plant & Equipment $2.909M $10.77M $10.77M
YoY Change 42.53% 369.66% -5.71%
Goodwill
YoY Change
Intangibles $302.0K $179.0K
YoY Change 32.46% -26.64%
Long-Term Investments $2.574M $1.168M
YoY Change 0.0%
Other Assets $3.828M $1.357M $189.0K
YoY Change 183.35% 0.44% 3.28%
Total Long-Term Assets $14.92M $12.31M $12.31M
YoY Change 18.9% -5.47% -5.47%
TOTAL ASSETS
Total Short-Term Assets $33.69M $47.05M $47.05M
Total Long-Term Assets $14.92M $12.31M $12.31M
Total Assets $48.61M $59.36M $59.36M
YoY Change 77.01% 120.27% 120.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.037M $6.808M $6.808M
YoY Change -87.15% 9.54% 9.54%
Accrued Expenses $6.007M $6.672M $6.672M
YoY Change -39.07% -0.22% 16.72%
Deferred Revenue $1.999M $2.669M
YoY Change 9.41% 49.86%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Long-Term Debt Due $369.0K $399.0K $399.0K
YoY Change -53.29% -76.12% -76.12%
Total Short-Term Liabilities $10.86M $11.25M $11.25M
YoY Change -39.95% -29.01% -29.01%
LONG-TERM LIABILITIES
Long-Term Debt $63.04M $63.85M $63.85M
YoY Change 663.23% 717.44% 717.44%
Other Long-Term Liabilities $11.66M $8.737M $8.737M
YoY Change 38.34% -5.05%
Total Long-Term Liabilities $63.04M $72.59M $72.59M
YoY Change 663.23% 829.29% 326.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.86M $11.25M $11.25M
Total Long-Term Liabilities $63.04M $72.59M $72.59M
Total Liabilities $85.56M $83.84M $83.84M
YoY Change 146.07% 155.13% 155.13%
SHAREHOLDERS EQUITY
Retained Earnings -$500.4M -$483.1M
YoY Change 24.66% 28.21%
Common Stock $16.00K $16.00K
YoY Change 33.33% 45.45%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$36.96M -$24.48M -$24.48M
YoY Change
Total Liabilities & Shareholders Equity $48.61M $59.36M $59.36M
YoY Change 77.01% 120.27% 120.27%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$17.30M -$16.01M -$82.72M
YoY Change -29.67% 25.22% 60.61%
Depreciation, Depletion And Amortization $229.0K $224.0K $1.054M
YoY Change -32.45% -41.82% -25.93%
Cash From Operating Activities -$12.10M -$14.74M -$60.65M
YoY Change -11.03% 35.38% 34.18%
INVESTING ACTIVITIES
Capital Expenditures $305.0K $450.0K $630.0K
YoY Change 376.56% 147.25% 48.94%
Acquisitions
YoY Change
Other Investing Activities -$813.0K
YoY Change
Cash From Investing Activities -$1.205M -$450.0K -$630.0K
YoY Change 1485.53% 147.25% 26.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.388M
YoY Change -94.03%
Debt Paid & Issued, Net $0.00 $1.465M
YoY Change -100.0% -93.19%
Cash From Financing Activities -$726.0K 3.226M 95.64M
YoY Change -104.66% -24.94% 121.05%
NET CHANGE
Cash From Operating Activities -$12.10M -14.74M -60.65M
Cash From Investing Activities -$1.205M -450.0K -630.0K
Cash From Financing Activities -$726.0K 3.226M 95.64M
Net Change In Cash -$14.00M -11.96M 34.36M
YoY Change -828.19% 76.68% -1520.89%
FREE CASH FLOW
Cash From Operating Activities -$12.10M -$14.74M -$60.65M
Capital Expenditures $305.0K $450.0K $630.0K
Free Cash Flow -$12.41M -$15.19M -$61.28M
YoY Change -9.21% 37.22% 34.32%

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CY2023 qbts Debt Instrument Noncash Interest And Final Payment Fee
DebtInstrumentNoncashInterestAndFinalPaymentFee
0 usd
CY2022 qbts Debt Instrument Noncash Interest And Final Payment Fee
DebtInstrumentNoncashInterestAndFinalPaymentFee
1808000 usd
CY2023 qbts Debt Instrument Noncash Amortization Of Commitment Fee
DebtInstrumentNoncashAmortizationOfCommitmentFee
0 usd
CY2022 qbts Debt Instrument Noncash Amortization Of Commitment Fee
DebtInstrumentNoncashAmortizationOfCommitmentFee
175000 usd
CY2023 qbts Non Cash Equity Line Of Credit Issuance Costs
NonCashEquityLineOfCreditIssuanceCosts
0 usd
CY2022 qbts Non Cash Equity Line Of Credit Issuance Costs
NonCashEquityLineOfCreditIssuanceCosts
629000 usd
CY2023 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-262000 usd
CY2022 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-6173000 usd
CY2023 qbts Fair Value Adjustment Of Debt Instrument
FairValueAdjustmentOfDebtInstrument
-640000 usd
CY2022 qbts Fair Value Adjustment Of Debt Instrument
FairValueAdjustmentOfDebtInstrument
0 usd
CY2023 qbts Amortization Of Debt Issuance Costs Net
AmortizationOfDebtIssuanceCostsNet
993000 usd
CY2022 qbts Amortization Of Debt Issuance Costs Net
AmortizationOfDebtIssuanceCostsNet
0 usd
CY2023 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-955000 usd
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
2459000 usd
CY2023 qbts Gain Loss On Share Issuance Under Equity Line Of Credit
GainLossOnShareIssuanceUnderEquityLineOfCredit
0 usd
CY2022 qbts Gain Loss On Share Issuance Under Equity Line Of Credit
GainLossOnShareIssuanceUnderEquityLineOfCredit
-75000 usd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
818000 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
337000 usd
CY2023 qbts Increase Decrease In Research Incentives Receivable
IncreaseDecreaseInResearchIncentivesReceivable
-264000 usd
CY2022 qbts Increase Decrease In Research Incentives Receivable
IncreaseDecreaseInResearchIncentivesReceivable
-1332000 usd
CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
237000 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
148000 usd
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1636000 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
387000 usd
CY2023 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-2614000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
3597000 usd
CY2023 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1374000 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
715000 usd
CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
958000 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-929000 usd
CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-510000 usd
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-821000 usd
CY2023 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
3000 usd
CY2022 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
0 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-60649000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-45226000 usd
CY2022 us-gaap Payments For Software
PaymentsForSoftware
75000 usd
CY2023 qbts Reverse Recapitalization Net Of Redemption And Transaction Costs
ReverseRecapitalizationNetOfRedemptionAndTransactionCosts
0 usd
CY2022 qbts Reverse Recapitalization Net Of Redemption And Transaction Costs
ReverseRecapitalizationNetOfRedemptionAndTransactionCosts
4100000 usd
CY2023 qbts Payments Of Reverse Recapitalization Transaction Costs
PaymentsOfReverseRecapitalizationTransactionCosts
0 usd
CY2022 qbts Payments Of Reverse Recapitalization Transaction Costs
PaymentsOfReverseRecapitalizationTransactionCosts
6528000 usd
CY2023 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 usd
CY2022 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
924000 usd
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1897000 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1077000 usd
CY2023 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
491000 usd
CY2022 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
0 usd
CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
416000 usd
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 usd
CY2023 qbts Proceeds From Short Swing Profit Settlement
ProceedsFromShortSwingProfitSettlement
244000 usd
CY2022 qbts Proceeds From Short Swing Profit Settlement
ProceedsFromShortSwingProfitSettlement
0 usd
CY2023 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
29007000 usd
CY2022 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
20000000 usd
CY2023 qbts Proceeds From Government Assistance
ProceedsFromGovernmentAssistance
2996000 usd
CY2022 qbts Proceeds From Government Assistance
ProceedsFromGovernmentAssistance
3159000 usd
CY2023 qbts Repayments Of Government Assistance
RepaymentsOfGovernmentAssistance
374000 usd
CY2022 qbts Repayments Of Government Assistance
RepaymentsOfGovernmentAssistance
398000 usd
CY2023 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
420000 usd
CY2022 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 usd
CY2023 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1465000 usd
CY2022 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
21511000 usd
CY2023 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 usd
CY2022 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
1808000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
95636000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
43265000 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-115000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
41000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
34242000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2418000 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
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
41307000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7065000 usd
CY2023 qbts Transfer From Inventory To Property Plant And Equipment
TransferFromInventoryToPropertyPlantAndEquipment
323000 usd
CY2022 qbts Transfer From Inventory To Property Plant And Equipment
TransferFromInventoryToPropertyPlantAndEquipment
0 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
88000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
360000 usd
CY2023 qbts Right Of Use Asset Obtained In Exchange For Operating Lease Liability Resolution Of Contingency
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiabilityResolutionOfContingency
0 usd
CY2022 qbts Right Of Use Asset Obtained In Exchange For Operating Lease Liability Resolution Of Contingency
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiabilityResolutionOfContingency
1113000 usd
CY2023 qbts Purchase Sale Of Property Plant And Equipment Included In Accounts Payable Accounts Receivable
PurchaseSaleOfPropertyPlantAndEquipmentIncludedInAccountsPayableAccountsReceivable
310000 usd
CY2022 qbts Purchase Sale Of Property Plant And Equipment Included In Accounts Payable Accounts Receivable
PurchaseSaleOfPropertyPlantAndEquipmentIncludedInAccountsPayableAccountsReceivable
66000 usd
CY2023 us-gaap Notes Issued1
NotesIssued1
0 usd
CY2022 us-gaap Notes Issued1
NotesIssued1
420000 usd
CY2023 qbts Warrants Issued
WarrantsIssued
0 usd
CY2022 qbts Warrants Issued
WarrantsIssued
8100000 usd
CY2023 qbts Reverse Recapitalization Noncash Financing
ReverseRecapitalizationNoncashFinancing
0 usd
CY2022 qbts Reverse Recapitalization Noncash Financing
ReverseRecapitalizationNoncashFinancing
5294000 usd
CY2023 qbts Directors And Officers Insurance Noncash Financing Activity
DirectorsAndOfficersInsuranceNoncashFinancingActivity
0 usd
CY2022 qbts Directors And Officers Insurance Noncash Financing Activity
DirectorsAndOfficersInsuranceNoncashFinancingActivity
2893000 usd
CY2023 us-gaap Stock Issued1
StockIssued1
0 usd
CY2022 us-gaap Stock Issued1
StockIssued1
3271000 usd
CY2023 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
0 usd
CY2022 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
189871000 usd
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<div style="margin-top:6pt;padding-left:22.5pt;text-align:justify;text-indent:-22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1. DESCRIPTION OF BUSINESS</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%">D-Wave Quantum Inc. ("D-Wave" or the “Company”) was incorporated as a corporation organized and existing 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” 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%">The company specializes in commercializing annealing quantum computing systems and offers real-time quantum computing as a service (QCaaS) available in 39 countries. The Company possess deep scientific and technical capabilities in hardware and software, enabling it to support business applications at production scale. For the year ended December 31, 2023, approximately 70 percent of the Company's revenue comes from commercial customers across various industries such as financial services, manufacturing, automotive, pharmaceutical, information technology, retail, and professional services.</span></div>
CY2023Q4 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
39 country
CY2023Q4 qbts Number Of Board Members
NumberOfBoardMembers
7 board_member
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-483100000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-82700000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-53700000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-60600000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-45200000 usd
CY2023Q4 us-gaap Cash
Cash
41300000 usd
CY2023Q4 qbts Working Capital Deficit
WorkingCapitalDeficit
-35800000 usd
CY2023Q4 us-gaap Assets Net
AssetsNet
-24500000 usd
CY2022Q3 qbts Cash Acquired Through Reverse Recapitalization And Proceeds From Issuance Of Private Placement
CashAcquiredThroughReverseRecapitalizationAndProceedsFromIssuanceOfPrivatePlacement
49000000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1781000 usd
CY2022Q3 qbts Payments Of Reverse Capitalization Transaction Costs Including Costs Paid On Behalf Of Related Party
PaymentsOfReverseCapitalizationTransactionCostsIncludingCostsPaidOnBehalfOfRelatedParty
14200000 usd
CY2022Q2 qbts Equity Line Of Credit Right To Sell Common Stock
EquityLineOfCreditRightToSellCommonStock
150000000 usd
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q2 qbts Equity Line Of Credit Ownership Restriction Percentage
EquityLineOfCreditOwnershipRestrictionPercentage
0.099
CY2022Q2 qbts Equity Line Of Credit Floor Stock Price
EquityLineOfCreditFloorStockPrice
1.00
CY2023 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
63700000 usd
CY2023 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
42147838 shares
CY2022Q2 qbts Equity Line Of Credit Floor Stock Price
EquityLineOfCreditFloorStockPrice
1.00
CY2022Q2 qbts Equity Line Of Credit Floor Stock Price
EquityLineOfCreditFloorStockPrice
1.00
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<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-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 consolidated 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 consolidated financial statements and accompanying notes as of the date of the consolidated financial statements. The most significant estimates and assumptions are used in determining: (i) inputs used to recognize revenue over time relating to hours estimated to complete the remaining performance obligations, (ii) fair value of financial instruments, and (iii) long term revenue forecasts used in the accounting for the SIF Loan (see Note 8</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. 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 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.
CY2023Q4 qbts Class Of Warrant Or Right Cap On Issuable Number Of Shares Ratio
ClassOfWarrantOrRightCapOnIssuableNumberOfSharesRatio
0.361
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-1000000 usd
CY2022 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
2400000 usd
CY2023Q4 qbts Accounts Receivable After Allowance For Credit Loss Excluding Unbilled Receivables Current
AccountsReceivableAfterAllowanceForCreditLossExcludingUnbilledReceivablesCurrent
644000 usd
CY2022Q4 qbts Accounts Receivable After Allowance For Credit Loss Excluding Unbilled Receivables Current
AccountsReceivableAfterAllowanceForCreditLossExcludingUnbilledReceivablesCurrent
757000 usd
CY2023Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
1008000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
58000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
2669000 usd
CY2023Q4 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P3Y
CY2023 us-gaap Advertising Expense
AdvertisingExpense
300000 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
800000 usd
CY2022 qbts Scientific Research And Experimental Development Investment Tax Credit
ScientificResearchAndExperimentalDevelopmentInvestmentTaxCredit
100000 usd
CY2023 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 Class Of Warrant Or Right Restriction Period
ClassOfWarrantOrRightRestrictionPeriod
P30D
CY2022Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
10.00
CY2022Q3 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
40000000.0 usd
CY2022Q3 qbts Commitment Fee Liability
CommitmentFeeLiability
2600000 usd
CY2022Q3 qbts Proceeds From Reverse Recapitalization Transaction
ProceedsFromReverseRecapitalizationTransaction
18700000 usd
CY2022Q3 qbts Cash Acquired Through Reverse Recapitalization
CashAcquiredThroughReverseRecapitalization
9130000 usd
CY2022Q3 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
40000000 usd
CY2022Q3 us-gaap Repayments Of Assumed Debt
RepaymentsOfAssumedDebt
16378000 usd
CY2022Q3 qbts Payments Of Reverse Recapitalization Transaction Costs
PaymentsOfReverseRecapitalizationTransactionCosts
14017000 usd
CY2022Q3 qbts Proceeds From Reverse Recapitalization Transaction
ProceedsFromReverseRecapitalizationTransaction
18735000 usd
CY2022Q3 qbts Reverse Recapitalization Liabilities Assumed
ReverseRecapitalizationLiabilitiesAssumed
16378000 usd
CY2022Q3 qbts Reverse Recapitalization Accrued Transaction Costs
ReverseRecapitalizationAccruedTransactionCosts
2459000 usd
CY2022Q3 qbts Reverse Recapitalization Net
ReverseRecapitalizationNet
37572000 usd
CY2022Q3 qbts Stock Issued During Period Shares New Issues And Reverse Recapitalization
StockIssuedDuringPeriodSharesNewIssuesAndReverseRecapitalization
10144040 shares
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
110007972 shares
CY2022Q3 qbts Common Stock Cumulative Shares Forfeited
CommonStockCumulativeSharesForfeited
4484425 shares
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8758000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7173000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8758000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7173000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8758000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7173000 usd
CY2023Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
79000 usd
CY2022Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
9000 usd
CY2023Q4 qbts Contract With Customer Deposit Liability
ContractWithCustomerDepositLiability
45000 usd
CY2022Q4 qbts Contract With Customer Deposit Liability
ContractWithCustomerDepositLiability
45000 usd
CY2023Q4 qbts Contract With Customer Liability And Deposit
ContractWithCustomerLiabilityAndDeposit
2793000 usd
CY2022Q4 qbts Contract With Customer Liability And Deposit
ContractWithCustomerLiabilityAndDeposit
1835000 usd
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1790000 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2719000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1790000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2719000 usd
CY2023 qbts Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
7089000 usd
CY2022 qbts Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
5325000 usd
CY2023 qbts Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
6131000 usd
CY2022 qbts Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
6254000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2748000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1790000 usd
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
5000000 usd
CY2023Q4 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.73
CY2023Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2023Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P3Y
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
2052000 usd
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
2170000 usd
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
26000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
26000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
2078000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
2196000 usd
CY2023Q4 qbts Accrued Transaction Costs Current
AccruedTransactionCostsCurrent
0 usd
CY2022Q4 qbts Accrued Transaction Costs Current
AccruedTransactionCostsCurrent
2459000 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1092000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1858000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2581000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1641000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
961000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
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CY2023Q4 qbts Accrued Payroll Expenses Current
AccruedPayrollExpensesCurrent
664000 usd
CY2022Q4 qbts Accrued Payroll Expenses Current
AccruedPayrollExpensesCurrent
451000 usd
CY2023Q4 qbts Contract With Customer Deposit Liability Current
ContractWithCustomerDepositLiabilityCurrent
45000 usd
CY2022Q4 qbts Contract With Customer Deposit Liability Current
ContractWithCustomerDepositLiabilityCurrent
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CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5343000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
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6687000 usd
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386000 usd
CY2022Q4 qbts Prepaid Services Current
PrepaidServicesCurrent
391000 usd
CY2023Q4 qbts Prepaid Software Current
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543000 usd
CY2022Q4 qbts Prepaid Software Current
PrepaidSoftwareCurrent
559000 usd
CY2023Q4 us-gaap Prepaid Rent
PrepaidRent
150000 usd
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
96000 usd
CY2023Q4 qbts Prepaid Commissions Current
PrepaidCommissionsCurrent
64000 usd
CY2022Q4 qbts Prepaid Commissions Current
PrepaidCommissionsCurrent
268000 usd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
272000 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
89000 usd
CY2023Q4 qbts Directors And Officers Insurance Current
DirectorsAndOfficersInsuranceCurrent
36000 usd
CY2022Q4 qbts Directors And Officers Insurance Current
DirectorsAndOfficersInsuranceCurrent
1449000 usd
CY2023Q4 us-gaap Unbilled Receivables Current
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0 usd
CY2022Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
58000 usd
CY2023Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
18000 usd
CY2022Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
36000 usd
CY2023Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
86000 usd
CY2022Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
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CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2009000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3643000 usd
CY2023Q4 us-gaap Long Term Investments
LongTermInvestments
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CY2022Q4 us-gaap Long Term Investments
LongTermInvestments
1168000 usd
CY2023Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
189000 usd
CY2022Q4 us-gaap Deposits Assets Noncurrent
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183000 usd
CY2023Q4 us-gaap Other Assets Noncurrent
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CY2022Q4 us-gaap Other Assets Noncurrent
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1351000 usd
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CY2022Q4 us-gaap Property Plant And Equipment Gross
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CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
24053000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
23111000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
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2551000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2294000 usd
CY2023 us-gaap Depreciation
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900000 usd
CY2022 us-gaap Depreciation
Depreciation
1300000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
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1245000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1197000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1066000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
953000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
179000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
244000 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000 usd
CY2023Q4 us-gaap Other Long Term Debt Current
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399000 usd
CY2022Q4 us-gaap Other Long Term Debt Current
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1863000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
63850000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
31168000 usd
CY2023Q4 qbts Long Term Debt Noncurrent Amortized Cost
LongTermDebtNoncurrentAmortizedCost
32450000 usd
CY2022Q4 qbts Long Term Debt Noncurrent Amortized Cost
LongTermDebtNoncurrentAmortizedCost
31168000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
63850000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
31168000 usd
CY2023Q4 qbts Equity Line Of Credit Right To Sell Common Stock Maximum Amount
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CY2023 us-gaap Operating Lease Cost
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1675000 usd
CY2022 us-gaap Operating Lease Cost
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1766000 usd
CY2023 us-gaap Variable Lease Cost
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416000 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
263000 usd
CY2023 us-gaap Sublease Income
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125000 usd
CY2022 us-gaap Sublease Income
SubleaseIncome
260000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y8M12D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P2Y9M18D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.095
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.170
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LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1374000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1187000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1219000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1251000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1281000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
13090000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4688000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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DeferredTaxAssetsOperatingLossCarryforwards
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CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
55430000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
15468000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
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CY2023Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
33321000 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
30064000 usd
CY2023Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
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CY2022Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
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CY2023Q4 qbts Deferred Tax Assets Start Up Costs
DeferredTaxAssetsStartUpCosts
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CY2022Q4 qbts Deferred Tax Assets Start Up Costs
DeferredTaxAssetsStartUpCosts
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CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
498000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
547000 usd
CY2023Q4 qbts Deferred Tax Assets Financing Arrangements
DeferredTaxAssetsFinancingArrangements
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CY2022Q4 qbts Deferred Tax Assets Financing Arrangements
DeferredTaxAssetsFinancingArrangements
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CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
654000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
888000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
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CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
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CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
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CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
807000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
316000 usd
CY2023Q4 qbts Deferred Tax Liabilities Convertible Notes
DeferredTaxLiabilitiesConvertibleNotes
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CY2022Q4 qbts Deferred Tax Liabilities Convertible Notes
DeferredTaxLiabilitiesConvertibleNotes
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CY2023Q4 us-gaap Deferred Tax Liabilities Investments
DeferredTaxLiabilitiesInvestments
315000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Investments
DeferredTaxLiabilitiesInvestments
315000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Financing Arrangements
DeferredTaxLiabilitiesFinancingArrangements
492000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Financing Arrangements
DeferredTaxLiabilitiesFinancingArrangements
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CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
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CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
316000 usd
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
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CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
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CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.01
CY2023 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.03
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2023 qbts Effective Income Tax Rate Reconciliation Permanent Differences Percent
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CY2022 qbts Effective Income Tax Rate Reconciliation Permanent Differences Percent
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2023 us-gaap Effective Income Tax Rate Continuing Operations
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CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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CY2023Q4 us-gaap Unrecognized Tax Benefits
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700000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
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CY2023Q4 qbts Class Of Warrant Or Right Exercise Price Of Warrants Or Rights Prior To Exchange Ratio
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11.50
CY2022Q3 qbts Recapitalization Exchange Ratio
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CY2023Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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CY2023Q4 qbts Class Of Warrant Or Right Redemption Price
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CY2023 qbts Class Of Warrant Or Right Redemption Notice Period
ClassOfWarrantOrRightRedemptionNoticePeriod
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CY2023 qbts Class Of Warrant Or Right Redemption Share Price Threshold Trading Days
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CY2023 qbts Class Of Warrant Or Right Redemption Share Price Threshold Consecutive Trading Days
ClassOfWarrantOrRightRedemptionSharePriceThresholdConsecutiveTradingDays
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CY2022Q3 us-gaap Sale Of Stock Price Per Share
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CY2023 qbts Class Of Warrant Or Right Reference Value
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18.00
CY2023 qbts Class Of Warrant Or Right Redemption Notice Period
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CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
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1155713 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
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1155713 shares
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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CY2023 qbts Share Based Compensation Arrangement By Share Based Payment Award Period Over Which Shares Reserved For Issuance Increases
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P10Y
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CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1981000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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1050228 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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1.43
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
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CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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1723000 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
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CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y7M20D
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
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CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
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CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
3.79
CY2023 qbts Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedWeightedAverageRemainingContractualTerm
P7Y10M13D
CY2023Q4 qbts Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedIntrinsicValue
0 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
11464447 shares
CY2023Q4 qbts Share Based Compensation Arrangement By Share Based Payment Award Options To Be Issued Upon Exercise
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsToBeIssuedUponExercise
9383963 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.11
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
1486279 shares
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3800000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P9Y9M21D
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P9Y29D
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
21919000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9164000 usd
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
22800000 usd
CY2023 qbts Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate
0.027
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y3M18D
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-82715000 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-82715000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-53702000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-53702000 usd
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
137993736 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
137993736 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
119647777 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
119647777 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.60
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.60
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.45
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.45
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
44555218 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
42632045 shares
CY2022Q2 qbts Equity Line Of Credit Right To Sell Common Stock
EquityLineOfCreditRightToSellCommonStock
150000000.0 usd
CY2022Q2 qbts Equity Line Of Credit Right To Sell Common Stock Period
EquityLineOfCreditRightToSellCommonStockPeriod
P36M
CY2023Q4 qbts Equity Line Of Credit Proceeds From Share Issuance Cumulative
EquityLineOfCreditProceedsFromShareIssuanceCumulative
67900000 usd
CY2022Q2 qbts Equity Line Of Credit Floor Stock Price
EquityLineOfCreditFloorStockPrice
1.00
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
161113744 shares
CY2023 qbts Common Stock Exchange Ratio
CommonStockExchangeRatio
1
CY2023Q4 qbts Common Shares Voting Rights Votes
CommonSharesVotingRightsVotes
1 vote
CY2023Q4 us-gaap Noncurrent Assets
NoncurrentAssets
10774000 usd
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
11427000 usd

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exhibit1063-limitedwaivert.htm Edgar Link pending
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