TLDR
- D-Wave Quantum (QBTS) stock rose 8.07% after announcing its leadership role in Q-Alliance, a government-backed quantum hub initiative in Italy.
- The stock reached an all-time high of $39.56, reflecting a 3,759.41% increase over the past year.
- The company reported Q2 revenue of $3.1 million, beating expectations of $2.59 million, though earnings per share missed forecasts at -$0.08 versus expected -$0.05.
- Bookings for annealing quantum computing technology in Asia Pacific increased 83% year-over-year.
- Despite positive momentum, analysts remain cautious about financial performance, with the company’s market cap now at $11.29 billion.
D-Wave Quantum saw its stock price climb 8.07% after revealing its role in launching Q-Alliance. The government-backed initiative aims to establish a quantum computing hub in Italy.
The company will take a leadership position in the new venture. This marks another international expansion for the quantum computing firm.
The stock hit an all-time high of $39.56 recently. That’s quite a run from where it was trading just a year ago.
Over the past twelve months, shares have surged 3,759.41%. That’s the kind of number that makes investors do a double-take.
The company’s market capitalization now stands at $11.29 billion. The year-to-date price performance shows a gain of 322.68%.
Trading volume has been heavy, averaging 50.8 million shares. That’s well above typical levels for the stock.
Recent Financial Performance
The company reported second-quarter results that showed mixed signals. Revenue came in at $3.1 million, topping the $2.59 million estimate.
But earnings per share told a different story. The company posted a loss of $0.08 per share, wider than the expected $0.05 loss.
Gross profit margins remain strong at 82.46%. Revenue growth over the last twelve months hit 120.2%.
The company maintains a strong cash position. That gives it runway to continue operations and expansion plans.
Growth in Asia Pacific
Bookings in the Asia Pacific region jumped 83% year-over-year. This growth centers on the company’s annealing quantum computing technology.
The company plans to host its first Qubits Japan 2025 user conference in Tokyo. The event will focus on practical applications of quantum computing.
Analyst coverage has been mostly positive on the technical side. Benchmark maintains a Buy rating on the stock.
Piper Sandler raised its price target to $22 from $13. The firm kept its Overweight rating on shares.
Both firms cited customer growth and technology momentum in their assessments. The technical sentiment signal currently reads as a Buy.
InvestingPro has identified 14 investment tips for the stock. The service also offers a comprehensive research report on the company.
The Q-Alliance partnership represents D-Wave’s latest move into international markets. Italy joins other regions where the company has established presence.
