D-Wave reports record Q1 2025 revenue of $15.0M, up 509% YoY, on first Advantage system sale
On 2025-05-08 D-Wave Quantum reported first-quarter 2025 results (period ended 2025-03-31) with record revenue of $15.0 million, up $12.5 million or 509% from $2.5 million a year earlier, and record GAAP gross profit of $13.9 million. EODHD-sourced data shows EPS of -$0.0198 against a -$0.06 estimate, a beat. The company said the increase was driven primarily by recognizing revenue on its first Advantage-system sale to a major research institution and moving an additional customer application into commercial production.
A 509% revenue surge to a record on the first recognized Advantage-system sale is a material commercialization data point for a tracked pure-play and a meaningful EPS beat.
Recognizing a full system-sale on the balance sheet shifts D-Wave's annealing business toward higher-value on-premises deployments and lends commercial weight to the Advantage2 general-availability launch announced later in May.