D-Wave Quantum annual free cash flow
2020
2021
2022
2023
2024
2025
D-Wave Quantum Free Cash Flow (FCF) History (QBTS)
D-Wave Quantum reported −$75.8M in free cash flow for fiscal 2025, a decrease of $31.1M from the previous fiscal year, with a free cash flow margin of −308.47%.
View full D-Wave Quantum company overviewD-Wave Quantum free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | −$75.8M | −$31.1M | — | −308.47% |
| 2024 | 2024-12-31 | −$44.7M | $16.5M | — | −506.96% |
| 2023 | 2023-12-31 | −$61.2M | −$15.6M | — | −699.16% |
| 2022 | 2022-12-31 | −$45.6M | −$9.1M | — | −636.40% |
| 2021 | 2021-12-31 | −$36.6M | −$6.6M | — | −582.48% |
| 2020 | 2020-12-31 | −$30.0M | — | — | −581.84% |
D-Wave Quantum quarterly free cash flow
Q3.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | −$32.9M | −$16.9M | — | −1070.97% |
| Q1 2026 | 2026-03-31 | −$46.0M | −$26.3M | — | −1610.95% |
| Q4 2025 | 2025-12-31 | −$20.0M | −$21.1M | — | −727.87% |
| Q3 2025 | 2025-09-30 | −$20.1M | −$1.7M | — | −536.53% |
| Q2 2025 | 2025-06-30 | −$16.0M | −$1.0M | — | −518.09% |
| Q1 2025 | 2025-03-31 | −$19.7M | −$7.3M | — | −131.44% |
| Q4 2024 | 2024-12-31 | $1.1M | $16.2M | — | +46.21% |
| Q3 2024 | 2024-09-30 | −$18.4M | −$1.5M | — | −982.83% |
| Q2 2024 | 2024-06-30 | −$15.0M | $472,000 | — | −687.72% |
| Q1 2024 | 2024-03-31 | −$12.4M | $1.2M | — | −504.02% |
| Q4 2023 | 2023-12-31 | −$15.2M | −$4.1M | — | −522.40% |
| Q3 2023 | 2023-09-30 | −$16.9M | −$4.0M | — | −660.73% |
| Q2 2023 | 2023-06-30 | −$15.5M | −$3.4M | — | −907.15% |
| Q1 2023 | 2023-03-31 | −$13.6M | −$4.0M | — | −861.53% |
| Q4 2022 | 2022-12-31 | −$11.1M | −$3.3M | — | −462.03% |
| Q3 2022 | 2022-09-30 | −$12.9M | — | — | −761.89% |
| Q2 2022 | 2022-06-30 | −$12.0M | — | — | −878.34% |
| Q1 2022 | 2022-03-31 | −$9.6M | — | — | −562.29% |
| Q3 2021 | 2021-09-30 | −$7.8M | — | — | −594.57% |
D-Wave Quantum free cash flow growth trends
Over the last five reported fiscal years, free cash flow declined from −$30.0M to −$75.8M, a net decrease of $45.8M. D-Wave Quantum's latest reported quarter, Q2 2026, generated −$32.9M in free cash flow, a decrease of $16.9M year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review D-Wave Quantum filings at SEC.gov ↗