D-Wave Quantum Inc.

For the period ended Sep 30, 2025. Filed Nov 6, 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.

Sep 30, 2025 · Filed Nov 6, 2025

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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 September 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 June 30, 2025	339,837,650	$33	$1,503,136	$(799,690)	$(9,225)	$694,254
Issuance of common stock in connection with exercise of stock options and vesting of RSUs	1,030,091	1	1,366	—	—	1,367
Issuance of common stock in connection with exercise of warrants	5,103,454	—	112,544	—	—	112,544
Stock-based compensation	—	—	6,598	—	—	6,598
Tax withholding related to vesting of restricted stock units	—	—	(4,322)	—	—	(4,322)
Foreign currency translation adjustment, net of tax	—	—	—	—	99	99
Net loss	—	—	—	(139,986)	—	(139,986)
Balances at September 30, 2025	345,971,195	$34	$1,619,322	$(939,676)	$(9,126)	$670,554

For the Three Months Ended September 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 June 30, 2024	186,073,087	$18	$507,067	$(518,151)	$(10,448)	$(21,514)
Issuance of common stock in connection with the Lincoln Park Purchase Agreement	10,621,447	1	11,898	—	—	11,899
Issuance of common stock in connection with the ATM agreement, net of issuance costs	11,058,026	1	11,586	—	—	11,587
Issuance of common stock in connection with exercise of stock options and vesting of RSUs	211,033	—	41	—	—	41
Stock-based compensation	—	—	4,054	—	—	4,054
Tax withholding related to vesting of restricted stock units	—	—	(119)	—	—	(119)
Foreign currency translation adjustment, net of tax	—	—	—	—	(151)	(151)
Net loss	—	—	—	(22,712)	—	(22,712)
Balances at September 30, 2024	207,963,593	$20	$534,527	$(540,863)	$(10,599)	$(16,915)

For the Nine Months Ended September 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	6,796,107	1	8,226	—	—		8,227
Issuance of common stock in connection with exercise of warrants	17,661,925	1	328,805			328,806
Stock-based compensation	—	—	17,394	—	—		17,394
Tax withholding related to vesting of restricted stock units	—	—	(9,986)	—	—		(9,986)
Foreign currency translation adjustment, net of tax	—	—	—	—	1,384		1,384
Net loss	—	—	—	(312,736)	—		(312,736)
Balances at September 30, 2025	345,971,195	$34	$1,619,322	$(939,676)	$(9,126)		$670,554

For the Nine Months Ended September 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	25,569,997	2	32,185	—	—	32,187
Issuance of common stock in connection with the ATM agreement, net of issuance costs	19,337,124	2	20,686	—	—	20,688
Issuance of common stock in connection with the Employee Stock Purchase Plan	262,777	—	171	—	—	171
Issuance of common stock in connection with exercise of stock options and vesting of RSUs	1,679,951	—	84	—	—	84
Stock-based compensation	—	—	13,790	—	—	13,790
Tax withholding related to vesting of restricted stock units	—	—	(1,470)	—	—	(1,470)
Foreign currency translation adjustment, net of tax	—	—	—	—	(82)	(82)
Net loss	—	—	—	(57,802)	—	(57,802)
Balances at September 30, 2024	207,963,593	$20	$534,527	$(540,863)	$(10,599)	$(16,915)

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.