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)
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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.
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