D-Wave Quantum surges after upbeat rev outlook

Quantum

13/03/2025 13:57

Corrects March 13 BUZZ to reflect Quantum Corp's business description in 8th bullet

**  D-Wave Quantum's QBTS.N shares up 15.5% at $6.72 early Thurs after co's current-qtr rev forecast tops Wall Street analysts' expectations

      ** Palo Alto, California-based co early Thurs says expects Q1 2025 rev to exceed $10 mln, driven by the sale of an Advantage annealing quantum computer

      ** Analysts on avg had called for Q1 rev of ~$2.6 mln, per LSEG data

      ** Q4 rev decreased 21% y/y to $2.3 mln, which was in-line with consensus

      ** Co's Q4 net loss widened to $86.1 mln from $16 mln loss a yr-ago

      ** On Weds, QBTS shares soared as high as $6.33 before ending session up ~8% at $5.82 after co said its quantum computer outperformed one of the world's most powerful classical supercomputers

            ** Shares of other quantum computing names, which rose in sympathy on Weds, adding to gains on Thurs: Quantum Computing Inc QUBT.O 5%, Rigetti Computing RGTI.O 1.5%, while IonQ IONQ.Nnow off 1% after edging into positive territory earlier

                ** Meanwhile, shares of Quantum Corp QMCO.O were up 8.5%. Quantum Corp, however, provides solutions for artificial intelligence and unstructured data, and is not involved in quantum computing

                ** With move on Thurs,

    QBTS shares down about 20% YTD but up nearly seven-fold over the past six months

** All 5 analysts covering QBTS have "buy" rating on the stock and their median PT is $8.50, up from $2.50 on Dec 13 - LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))