D-Wave Quantum Inc.

For the period ended Jun 30, 2025. Filed Aug 7, 2025.

About this filing

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.

Jun 30, 2025 · Filed Aug 7, 2025

QBTS$10.48-8.6%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Consolidated Statements of Stockholders’ Equity (Deficit) (Unaudited)

For the Three Months Ended June 30, 2025

Common stock · Additional paid-in capital · Accumulated deficit · Accumulated other comprehensive loss · Total stockholders' equity
(In thousands, except share data) · Shares · Amount
Balance at March 31, 2025	291,351,403	$29	$849,733	$(632,361)	$(10,012)	$207,389
Issuance of common stock in connection with the Lincoln Park Purchase Agreement	3,873,113	—	37,787	—	—	37,787
Issuance of common stock in at-the-market offerings, net of issuance costs	26,344,831	3	390,630	—	—	390,633
Issuance of common stock in connection with the Employee Stock Purchase Plan	95,331	—	291	—	—	291
Issuance of common stock in connection with exercise of stock options and vesting of RSUs	5,614,895	—	6,837	—	—	6,837
Issuance of common stock in connection with exercise of warrants	12,558,077	1	216,255	—	—	216,256
Stock-based compensation	—	—	6,750	—	—	6,750
Tax withholding related to vesting of restricted stock units	—	—	(5,147)	—	—	(5,147)
Foreign currency translation adjustment, net of tax	—	—	—	—	787	787
Net loss	—	—	—	(167,329)	—	(167,329)
Balances at June 30, 2025	339,837,650	$33	$1,503,136	$(799,690)	$(9,225)	$694,254

For the Three Months Ended June 30, 2024

Common stock · Additional paid-in capital · Accumulated deficit · Accumulated other comprehensive loss · Total stockholders' deficit
(In thousands, except share data) · Shares · Amount
Balances at March 31, 2024	161,675,010	$16	$473,870	$(500,373)	$(10,470)	$(36,957)
Issuance of common stock in connection with the Lincoln Park Purchase Agreement	14,948,550	1	20,287	—	—	20,288
Issuance of common stock in at-the-market offerings, net of issuance costs	8,279,098	1	9,100	—	—	9,101
Issuance of common stock in connection with the Employee Stock Purchase Plan	262,777	—	171	—	—	171
Issuance of common stock under stock-based compensation plans	907,652	—	35	—	—	35
Stock-based compensation	—	—	4,221	—	—	4,221
Tax withholding related to vesting of restricted stock units	—	—	(617)	—	—	(617)
Foreign currency translation adjustment, net of tax	—	—	—	—	22	22
Net loss	—	—	—	(17,778)	—	(17,778)
Balances at June 30, 2024	186,073,087	$18	$507,067	$(518,151)	$(10,448)	$(21,514)

For the Six Months Ended June 30, 2025

Common stock · Additional paid-in capital · Accumulated deficit · Accumulated other comprehensive loss · Total stockholders' equity
(In thousands, except share data) · Shares · Amount
Balances at December 31, 2024	266,595,867	$27	$700,069	$(626,940)	$(10,510)		$62,646
Issuance of common stock in connection with the Lincoln Park Purchase Agreement	3,873,113	—	37,787	—	—		37,787
Issuance of common stock in at-the-market offerings, net of issuance costs	50,948,852	5	536,736	—	—		536,741
Issuance of common stock in connection with the Employee Stock Purchase Plan	95,331	—	291	—	—		291
Issuance of common stock in connection with exercise of stock options and vesting of RSUs	5,766,016	—	6,860	—	—		6,860
Issuance of common stock in connection with exercise of warrants	12,558,471	1	216,261			216,262
Stock-based compensation	—	—	10,796	—	—		10,796
Tax withholding related to vesting of restricted stock units	—	—	(5,664)	—	—		(5,664)
Foreign currency translation adjustment, net of tax	—	—	—	—	1,285		1,285
Net loss	—	—	—	(172,750)	—		(172,750)
Balances at June 30, 2025	339,837,650	$33	$1,503,136	$(799,690)	$(9,225)		$694,254

For the Six Months Ended June 30, 2024

Common stock · Additional paid-in capital · Accumulated deficit · Accumulated other comprehensive loss · Total stockholders' deficit
(In thousands, except share data) · Shares · Amount
Balances at December 31, 2023	161,113,744	$16	$469,081	$(483,061)	$(10,517)	$(24,481)
Issuance of common stock in connection with the Lincoln Park Purchase Agreement	14,948,550	1	20,287	—	—	20,288
Issuance of common stock in at-the-market offerings, net of issuance costs	8,279,098	1	9,100	—	—	9,101
Issuance of common stock in connection with the Employee Stock Purchase Plan	262,777	—	171	—	—	171
Issuance of common stock under stock-based compensation plans	1,468,918	—	43	—	—	43
Stock-based compensation	—	—	9,736	—	—	9,736
Tax withholding related to vesting of restricted stock units	—	—	(1,351)	—	—	(1,351)
Foreign currency translation adjustment, net of tax	—	—	—	—	69	69
Net loss	—	—	—	(35,090)	—	(35,090)
Balances at June 30, 2024	186,073,087	$18	$507,067	$(518,151)	$(10,448)	$(21,514)

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.