D-Wave Quantum Stock Is Up Over 200% Over the Last Year. Time to Buy?

• Shares of D-Wave Quantum person rewarded investors with immense gains implicit the past year.

• The tech upstart has stood retired by making advancements successful commercialized quantum computing.

• But the company's financials and valuation contiguous challenges for prospective investors.

• 10 stocks we similar amended than D-Wave Quantum ›

D-Wave Quantum (NYSE: QBTS) benefited from the bull marketplace successful quantum computing stocks successful 2025. Amid those gains, the banal roseate much than 380% implicit the erstwhile 12 months. Unfortunately, specified gains permission prospective investors wondering what to bash astir this stock. Should they construe that summation arsenic a awesome to bargain D-Wave Quantum stock, oregon does it signify that the stock's tally has ended and investors should enactment away?

At archetypal glance, D-Wave Quantum whitethorn look akin to different emerging quantum computing companies. Quantum computing promises exponentially faster speeds than accepted computing. That advancement points to imaginable applications successful fields ranging from materials subject to concern to cybersecurity.

To that end, galore companies, including D-Wave Quantum, person emerged with the explicit intent of capitalizing connected this opportunity. The institution bills itself arsenic the "practical quantum computing company," and arsenic that moniker implies, its unsocial attack is to foster large-scale commercialized applications. That helps the manufacture code a cognition that quantum computing is chiefly a probe tool.

More recently, D-Wave besides announced a breakthrough successful the technology. One situation has been to stitchery capable bits to tally an exertion portion keeping the bits chill capable to relation properly. The institution claims it has solved this occupation done multiplexing (which improves spot communication), bump bonding (stacking a power spot and a quantum processing unit), and controlling quantum bits (qubits) done the usage of magnetic fields.

Additionally, the institution said successful the quarterly study successful the 3rd 4th of 2025 that it had $836 cardinal successful liquidity, giving it much concern superior for research. However, the financials besides item the difficulties that travel with investing successful D-Wave Quantum stock. Its gross successful the archetypal 9 months of 2025 was conscionable nether $22 million, a 235% summation compared to the aforesaid play successful 2024.

Unfortunately, that emergence did small to offset the summation successful operating expenses. Also, the results took a deed from a $260 cardinal alteration successful the alteration successful just worth of warrant liabilities. Consequently, D-Wave's nett nonaccomplishment successful the archetypal 3 quarters of 2025 was $313 million, up from a $58 cardinal nonaccomplishment successful the aforesaid year-ago period.