For the quarter ending 2025-09-30, QBTS-WT had $16,919K increase in cash & cash equivalents over the period. -$20,061K in free cash flow.
| Cash Flow | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 |
|---|---|---|---|---|
| Net loss | -139,986 | -167,329 | -5,421 | -86,077 |
| Depreciation and amortization | 369 | 338 | 376 | 316 |
| Stock-based compensation | 6,455 | 6,671 | 3,993 | 3,877 |
| Amortization of operating right-of-use assets | 199 | 169 | 177 | 258 |
| Provision for excess and obsolete inventory | 22 | - | - | 45 |
| Non-cash interest expense | 200 | 199 | 188 | -91 |
| Change in fair value of warrant liabilities | 121,859 | 142,048 | -3,943 | 68,264 |
| Change in fair value of term loan | 0 | 0 | 0 | 10 |
| Debt issuance costs netted from term loan proceeds | - | - | - | 0 |
| Gain on marketable securities | 850 | 0 | 0 | 0 |
| Unrealized foreign exchange loss (gain) | 723 | -1,903 | -95 | 2,497 |
| Other noncash items | 0 | 0 | 267 | - |
| Trade accounts receivable | 482 | 417 | -360 | -15 |
| Research incentives receivable | - | - | - | 0 |
| Inventories | 668 | 746 | 16 | -83 |
| Prepaid expenses and other current assets | 1,315 | 1,540 | -172 | 1,143 |
| Trade accounts payable | -213 | 187 | 229 | 252 |
| Accrued expenses and other current liabilities | -2,088 | 4,980 | -2,285 | 2,252 |
| Deferred revenue | -1,542 | -689 | -13,107 | 16,389 |
| Operating lease liability | -202 | -171 | -173 | 1 |
| Other non-current assets, net | 80 | 889 | 191 | -63 |
| Net cash used in operating activities | -19,045 | -15,286 | -19,279 | 2,017 |
| Purchase of property and equipment | 1,016 | 749 | 438 | 950 |
| Purchase of convertible note | 0 | 0 | 0 | 0 |
| Proceeds from recovery of previously written-off convertible note | 0 | 959 | - | - |
| Sales of marketable securities | 0 | 0 | 0 | 0 |
| Expenditures for internal-use software | 194 | 69 | 60 | 13 |
| Purchase of software | - | - | 0 | - |
| Net cash used in investing activities | -1,210 | 141 | -498 | -963 |
| Proceeds from the issuance of common stock pursuant to the lincoln park purchase agreement | 0 | 37,787 | - | 12,098 |
| Proceeds from the issuance of common stock in at-the-market offerings, net of issuance costs | 0 | 390,633 | 146,108 | 149,218 |
| Proceeds from issuance of common stock upon exercise of warrants | 39,866 | 99,319 | - | - |
| Proceeds from the issuance of common stock upon exercise of stock options | 1,367 | 6,837 | 23 | 1,263 |
| Proceeds from common stock issued under the employee stock purchase plan | 0 | 285 | 6 | 253 |
| Proceeds from term loan | - | - | - | 0 |
| Proceeds from government assistance | - | - | - | 0 |
| Payment of tax withheld pursuant to stock-based compensation settlements | 4,322 | 5,147 | 517 | 1,672 |
| Short swing profit settlement | - | - | - | 0 |
| Debt payment for term loan | 0 | - | - | 13,597 |
| Repayments on tpc loan | 0 | 365 | - | 0 |
| Repayment of promissory notes - related party | - | - | - | 0 |
| Proceeds from equipment financing | 412 | - | - | - |
| Other debt payments | - | - | - | 0 |
| Payments for debt issuance costs | 248 | - | - | - |
| Net cash provided by financing activities | 37,075 | 529,349 | 145,620 | 147,563 |
| Effect of exchange rate changes on cash and cash equivalents | 99 | 787 | 498 | 89 |
| Net increase (decrease) in cash and cash equivalents | 16,919 | 514,991 | 126,341 | 148,706 |
| Cash and cash equivalents at beginning of period | 819,312 | 304,321 | 177,980 | 29,274 |
| Cash and cash equivalents at end of period | 836,231 | 819,312 | 304,321 | 177,980 |
D-Wave Quantum Inc. (QBTS-WT)
D-Wave Quantum Inc. (QBTS-WT)