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Source document· January 22, 2026

D-Wave (QBTS) Q2 2025 Earnings Call Transcript

View original at finance.yahoo.com
D-Wave (QBTS) Q2 2025 Earnings Call Transcript Image source: The Motley Fool. DATE Thursday, August 7, 2025 at 8:00 a.m. ET CALL PARTICIPANTS Chief Executive Officer — Alan E…
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  • D-Wave has the opportunity to be the first independent publicly held quantum computing company to achieve sustained profitability

    80% confidence

  • Peer-reviewed research shows annealing quantum computers outperform and will continue to outperform gate model on optimization problems

    80% confidence

  • D-Wave was the first to achieve quantum supremacy on a useful real-world problem

    80% confidence

  • Quarterly non-GAAP OpEx will be approximately 15% higher than Q2 actual for remainder of 2025

    80% confidence

  • Gate model quantum computers cannot universally solve all problems better than classical computers

    80% confidence

  • Characterizing annealing quantum computing as niche is misleading and ill-informed

    80% confidence

  • M&A is now a strategic priority with goal to announce acquisitions in 2025

    80% confidence

  • DARPA made a huge mistake by excluding annealing from the QBI program

    80% confidence

Data points we hold from this source

D-Wave Quantum Inc. · gross profit non gaap1.6 million_USD
D-Wave Quantum Inc. · retention rate90 percent
D-Wave Quantum Inc. · revenue2.2 million_USD
D-Wave Quantum Inc. · gross profit gaap2.0 million_USD
D-Wave Quantum Inc. · analyst coverage10 analysts
What we know · the intelligence behind this page
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What we're seeing
Q4 2026 Biopharma Catalyst Cluster: Late-Stage Readouts and Regulatory Milestones
October 2026 brings a dense run of Phase 3 wins (ALOFT-IPF, RESTORE-3), new data presentations (Roche, Bayer, Lilly, Vertex, Galderma) and regulatory steps (FDA acceptance of Roche's vamikibart BLA, Scholar Rock's EMA resubmission). The next big catalyst is the ivonescimab FDA PDUFA date on 2026-11-14. Obesity combination studies (REDEFINE 4, TOGETHER-PsO) and the 2027 Maritime-1 completion point to more catalysts ahead. QAIAx's speculative AI-linked trial claims (the QIII pilot, targeted for 2027) are an unrelated micro-cap sideshow with weak evidence, and have little in common with the large-cap pipeline news.
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EPKINLY Regulatory-Clinical Success Cascade
High probability of expanded label indications, additional combination approvals, and competitive positioning strength in follicular lymphoma market. Predicts positive commercial uptake and potential accelerated review for related indications.
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Where sources disagree
ING Group
Both facts record the same metric (shares_outstanding) for ING Group at the identical observation date (2025-12-31). FACT A states 2,902,437,688 shares; FACT B states 2,902 million shares (2,902,000,000). The difference is 437,688 shares (~0.015%). This is a genuine value conflict, though the discrepancy appears to result from FACT B rounding to the nearest million while FACT A provides the precise count.
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