D-Wave Quantum Inc.
For the period ended Mar 31, 2025. Filed May 8, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 8, 2025
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Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Financial Statements
Condensed Consolidated Balance Sheets
| March 31, | December 31, | |
|---|---|---|
| (In thousands, except share and per share data) | 2025 | 2024 |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $304,321 | $177,980 |
| Trade accounts receivable, net of allowance for doubtful accounts of $94 and $176 | 1,047 | 1,420 |
| Inventories | 1,702 | 1,686 |
| Prepaid expenses and other current assets | 3,795 | 3,954 |
| Total current assets | 310,865 | 185,040 |
| Property and equipment, net | 3,999 | 4,133 |
| Operating lease right-of-use assets | 7,084 | 7,261 |
| Intangible assets, net | 531 | 490 |
| Other non-current assets, net | 3,121 | 2,929 |
| Total assets | $325,600 | $199,853 |
| Liabilities and stockholders' equity | ||
| Current liabilities: | ||
| Trade accounts payable | $1,021 | $815 |
| Accrued expenses and other current liabilities | 6,556 | 8,784 |
| Current portion of operating lease liabilities | 1,525 | 1,512 |
| Loans payable, net, current | 348 | 348 |
| Deferred revenue, current | 5,549 | 18,686 |
| Total current liabilities | 14,999 | 30,145 |
| Warrant liabilities | 65,932 | 69,875 |
| Operating lease liabilities, net of current portion | 6,213 | 6,389 |
| Loans payable, net, non-current | 30,367 | 30,128 |
| Deferred revenue, non-current | 700 | 670 |
| Total liabilities | 118,211 | 137,207 |
| Commitments and contingencies (Note 9) | ||
| Stockholders' equity: | ||
| Common stock, par value $0.0001 per share; 675,000,000 shares authorized at both March 31, 2025 and December 31, 2024; 291,351,403 shares and 266,595,867 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively. | 29 | 27 |
| Additional paid-in capital | 849,733 | 700,069 |
| Accumulated deficit | (632,361) | (626,940) |
| Accumulated other comprehensive loss | (10,012) | (10,510) |
| Total stockholders' equity | 207,389 | 62,646 |
| Total liabilities and stockholders’ equity | $325,600 | $199,853 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.