D-Wave Quantum Inc. 

QBTS Price

🌱 4d

What is D-Wave Quantum (QBTS) stock?

D-Wave Quantum Inc. is a commercial quantum computing company based in Burnaby, British Columbia, Canada. The QBTS instrument tracked on DropsTab is a tokenized wrapper of the company's Nasdaq-listed share, not a cryptocurrency. D-Wave builds both quantum annealing and gate-model systems, a combination no other vendor offers according to the company's own positioning. For crypto traders, QBTS wrappers provide price exposure to a listed quantum computing stock on venues such as Bitget and MEXC.

Is QBTS a cryptocurrency or a stock?

QBTS is a tokenized stock. The underlying asset is one share class of D-Wave Quantum Inc., an SEC-reporting company listed on the Nasdaq Global Select Market. DropsTab lists no token supply, no maximum supply and no on-chain contracts for QBTS, because the instrument packages equity exposure rather than issuing a cryptocurrency. DropsTab classifies QBTS under TradFi.

Where can you buy QBTS tokenized stock?

Per DropsTab data, QBTS trades on two spot markets: Bitget (RQBTS/USDT, an rToken issued by Reality Protocol) and MEXC (QBTSON/USDT, whose wrapper issuer is not identifiable from the ticker). Perpetual futures referencing the underlying equity trade on MEXC Futures and Bitunix Futures. DropsTab tracks no DEX pairs for QBTS. Liquidity on these mid-tier crypto venues is thin relative to the underlying Nasdaq equity, and the listed stock remains the canonical price reference.

Does holding a QBTS token mean owning D-Wave shares?

No. A QBTS wrapper delivers price exposure to the share, not legal share ownership in D-Wave Quantum Inc. Wrapper issuance and custody differ by venue: Bitget's rToken and MEXC's instrument are distinct products and are not interchangeable. Wrapper holders therefore carry two layers of risk: the equity risk of D-Wave itself, plus wrapper and venue counterparty risk on the crypto side.

How does D-Wave Quantum make money?

D-Wave Quantum generates revenue from three lines: Leap quantum-cloud subscriptions, professional services, and full quantum-system sales. The company's sixth-generation Advantage2 system reached general availability on May 20, 2025, through cloud access and on-premises deployment. A landmark on-premises system sale to Germany's Jülich Supercomputing Centre drove Q1 2025 revenue. D-Wave systems are also accessible through Amazon Braket, and target workloads in optimization, artificial intelligence and materials science.

Did Jeff Bezos invest in D-Wave?

Yes. Bezos Expeditions, Jeff Bezos's investment vehicle, took part in a $30M round that D-Wave Systems closed in October 2012, alongside In-Q-Tel, the strategic investor serving the US intelligence community. Both names are historical pre-IPO investors. DropsTab lists no current holdings for either, and their present stakes are not disclosed on the platform.

How did D-Wave Quantum become a public company?

D-Wave went public through a merger with DPCM Capital, Inc., a SPAC that traded on the NYSE as XPOA, at a valuation of roughly $1.2 billion. The merger completed on August 8, 2022, when shares began trading on the NYSE under the QBTS ticker. The listing moved to the Nasdaq Global Select Market in July 2026, keeping the same ticker.

Is D-Wave Quantum profitable?

No. D-Wave Quantum reported FY2025 revenue of $24.6M, up 179% from $8.8M in FY2024, against a net loss of roughly $355M. Q1 2026 revenue was $2.9M, down 81% year over year as results lapped the Jülich system sale. The company funds operations through equity raises, including a $400M stock offering completed in 2025, which dilutes existing shareholders. Whether QBTS suits a given investor depends on tolerance for those losses and dilution.

How much commercial demand does D-Wave report?

Company-reported first-half 2026 bookings totaled $35.5M, up 1,120% year over year, with backlog of $40.7M, up 668%. D-Wave's revenue is lumpy because full system sales land in single quarters, which is why the market watches bookings and backlog alongside quarterly revenue figures.