The Burnaby, B.C.-founded firm reported US$15 million in first-quarter revenue, quarter, up 509 per cent year over year. While D-Wave lost US$5.4 million over the period, its management said the US$304.3 million in cash it had at the end of March will tide the firm over until it reaches profitability. (The Logic)
Skip to content
The Burnaby, B.C.-founded firm reported US$15 million in first-quarter revenue, quarter, up 509 per cent year over year. While D-Wave lost US$5.4 million over the period, its management said the US$304.3 million in cash it had at the end of March will tide the firm over until it reaches profitability. (The Logic)
Talking point: D-Wave’s stock closed up 51.2 per cent on Thursday and was trading up again on Friday, taking its share price back to mid-March levels when the firm claimed a technological breakthrough. However, much of the company’s first-quarter revenue boost and narrowing of losses came from the sale of a single quantum computing system to a German research facility. D-Wave booked US$1.6 million in future orders between January and March. Quantum computing stocks have see-sawed this year after Nvidia CEO Jensen Huang said the sector will take decades to produce very useful machines. D-Wave boss Alan Baratz responded that the firm is already solving real business problems.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
News
Diversifying trade requires banks to take bigger risks, official advised Carney before CIBC meeting
Briefing
Beleaguered Goeasy removed from Canada’s main stock index
Manitoba judge dismisses lawsuit against Winnipeg businessman Sandy Riley
Ottawa piloting use of AI tool to profile prisoners
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
