QBTS

D-Wave QuantumF

NYSE / Software & Services

At close

2026-07-20

Current thesis

The strongest bull argument is that D-Wave entered 2026 with unusually strong demand signals relative to its historical scale: FY2025 revenue rose 179% to $24.6 million, gross margin improved, liquidity reached a record $884.5 million, and management disclosed more than $32.8 million of Q1 year-to-date 2026 bookings by February 25, 2026, suggesting commercial traction could be accelerating beyond the lumpy 2025 base [#8-K-2026-02-26].

Posture

Defensive

Lead driver

Sentiment

What changed

Sentiment remains the lead driver in the composite, 7D delta +15.1.

What can break

Execution risk remains elevated around integrating Quantum Circuits and proving that the dual-platform strategy can create durable commercial advantage rather than just a broader narrative [#8-K-2026-02-26].

Momentum

Value

Sentiment

Setup hits (3d)

0 · Net Neutral

AI TargetsBase $18.00 · Bull $32.00 · Bear $10.00

Data freshness

Prices

As of 2026-07-20

Fundamentals

As of 2026-07-20 • Vendor: Data Vendor v1

Scores

As of 2026-07-20 • Model: HYBRID_IC_RP

AI Memo

As of 2026-04-28 • Model: RankAlpha Sentiment Codex

Investment thesis

As of 2026-07-20

Supporting evidence

What

Grade F · Defensive

Confidence Medium · Net Neutral

Target $38.31

Why

Momentum10 · Δ7d -10.3

Value35 · Δ7d -0.0

Sentiment58 · Δ7d +15.1

So what

Weak posture (Net Neutral). Prioritize risk control and patience.

Lead driver: Sentiment · See AI snapshot

Momentum

26% active weight

Current posture

7d trendSoftening

Δ7d

-10.3

Δ21d

-64.6

Value

39% active weight

Current posture

7d trendFlat

Δ7d

-0.0

Δ21d

+0.1

Sentiment

34% active weight

Current posture

7d trendImproving

Δ7d

+15.1

Δ21d

+27.6

Why this grade

Composite grade F. Momentum 10.1 / Value 35.3 / Sentiment 58.3

Fundamentals (TTM)

As of 2026-07-20

Market Cap

$6.19B

Beta

1.55

Shares Out

370.45M

P/E (TTM) · Derived

-15.1

P/S (TTM)

444.32

P/FCF (TTM) · Derived

-56.93

Rev YoY

-80.9%

EPS YoY

+164.6%

Gross Margin

+32.9%

Op Margin

-355.2%

Net Debt

-$841.02M

Current Ratio

21.41

As of 2026-07-20 • Updated nightlySource: Internal modelMethodology