D-Wave Quantum Stock Falls After Q3 Earnings as Bookings Drop 19%

D-Wave Quantum (NASDAQ: QBTS) shares fell about 8% to $10.59 in Tuesday’s morning trading after the quantum computing company reported third-quarter results showing weaker bookings and a wider adjusted EBITDA loss, despite revenue exceeding Wall Street estimates. D-Wave recorded third-quarter bookings of $1.9 million , down 19% from a year earlier and below the $2.1 million reported in the second quarter. Revenue increased 21% year over year to $4.5 million, exceeding estimates of $4.37 million. It also rose from $3.1 million in the second quarter. Adjusted EBITDA loss, a non-GAAP measure of operating performance, widened 83% to $37.7 million from approximately $20.6 million a year earlier. According to Zacks , D-Wave recorded an adjusted loss of $0.11 per share, compared with its consensus estimate of a $0.10 loss.

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