Shares of D-Wave Quantum (NYSE:QBTS), a Palo Alto-based quantum computing company, climbed 2.9% to $5.99 in premarket trading on Thursday after the company issued a first-quarter 2025 revenue forecast that significantly exceeded Wall Street expectations.
Early Thursday, D-Wave projected Q1 revenue to surpass $10 million, fueled by the sale of an Advantage annealing quantum computer.
This figure sharply contrasts with analysts’ average estimate of $2.6 million, according to LSEG data.
The upbeat guidance follows a mixed Q4 performance, where revenue fell 21% year-over-year to $2.3 million—aligning with consensus estimates—while the company’s net loss widened to $86.1 million from $16 million a year earlier.
Despite the Q4 challenges, investor sentiment was buoyed Wednesday when D-Wave announced that its quantum computer outperformed one of the world’s most powerful classical supercomputers.
That news drove QBTS shares up as much as 8% to close at $5.82, after hitting an intraday high of $6.33.