QBTS

D-Wave QuantumD

NYSE / Software & Services

At close

2026-06-02

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AI scenario view

RankAlpha Sentiment Codex

B+

Bull case

25%

Probability

Target price

$32.00

+7.0% vs current

Most likely

Base case

45%

Probability

Target price

$18.00

-39.8% vs current

B-

Bear case

30%

Probability

Target price

$10.00

-66.6% vs current

AI sentiment snapshot

Latest data as of 2026-04-28

AI commentary

Headline flow is active and mostly supportive, centered on the scheduled May 12, 2026 earnings release and continued investor-conference participation, but the deterministic prior remains neutral and catalyst density is still modest. There is no usable social-coverage packet here, and direct-peer evidence remains thin beyond IonQ and Rigetti as public quantum-computing comparators, so the setup looks more like a high-volatility monitoring name than a high-confidence directional call ahead of results.

RankAlpha Sentiment Codex - 2026-04-28

Open full AI memo

Evidence flagged

peer set is too generic or lacks enough direct operating comparators

Impact

tentative

Confidence

AI events

2026-05-12catalystMay 12 Q1 FY2026 report is the next hard proof pointHigh impact

D-Wave said it will report first-quarter fiscal 2026 results on May 12, 2026 before market open, with management hosting an 8:00 a.m. ET call; this is the clearest near-term test of whether the strong post-year-end demand commentary is converting into reported revenue, bookings, and guidance [#PR-2026-04-23].

2026-09-30eventPost-year-end bookings momentum needs to translate into visible revenue and backlog supportHigh impact

In its February 26, 2026 results release, D-Wave said January bookings exceeded $30 million and that first-quarter year-to-date 2026 bookings exceeded $32.8 million as of February 25, helped by a $20 million Florida Atlantic University system purchase and a $10 million two-year Fortune 100 QCaaS agreement; successful conversion of those wins into recognized revenue or firmer backlog metrics would support the stock, while weak conversion would undercut the thesis [#8-K-2026-02-26].

2026-12-31catalystDual-platform expansion and government/commercial adoption can widen the narrative, but execution must catch upHigh impact

Management highlighted the Quantum Circuits acquisition, a new U.S. government-focused business unit, and technical progress in gate-model and annealing systems as part of a broader dual-platform strategy; if these moves deepen customer adoption and sustain larger deal flow, they could extend the commercial quantum leadership narrative, but the payoff remains execution-dependent [#8-K-2026-02-26].

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Recommendation

N/A

No formal recommendation provided.

Open AI Memo

As of 2026-04-28 • Updated nightlySource: Internal modelMethodology