The Burnaby, B.C.-headquartered, Delaware-incorporated quantum computing company disclosed the plan in a regulatory filing. It said PwC had declined to stand for re-election as the firm’s independent public accounting firm at the next general meeting. D-Wave’s move is being made for accounting purposes and its main subsidiary will keep its head office and R&D facilities in Burnaby, said Michelle Maggs, vice-president of corporate marketing. The Globe and Mail was first to report the news. (The Logic, The Globe and Mail)

Talking point: D-Wave was early in the race to build useful quantum computers, and it’s selling use of its machines and software to clients like Mastercard and industrial giants ArcelorMittal and BASF. But it’s an expensive business. D-Wave expects to lose less than US$62 million on up to US$13 million in revenue this year, and ended March with US$14.9 million in assets. The firm did not provide a reason for PwC’s exit, but noted the auditor’s reports for the last two years “contained no adverse opinion.” D-Wave said it will seek a replacement in the U.S. The firm’s move may involve some domestic considerations too: the federal Strategic Innovation Fund awarded it $40 million in March 2021, funding that comes with strings.

Editor’s note: This briefing has been updated with comment from D-Wave.