QBTS

D-Wave Quantum Inc.
NasdaqGSUSDEQUITY Technology DELAYED
Last price
15.83
▲ 0.19 (1.21%)
MARKET · —

Price

1D — H — L — Range — Vol —
Drag pan · Pinch zoom · Hold crosshair · pick a tool then drag to draw
Open
15.68
Prev close
15.64
Day high
16.26
Day low
15.64
Volume
13.37M
Market cap
$5.99B
P/E (TTM)
—
52W range
12.75 – 46.75

Day trading desk

Current session · delayed
Gap from prior close
+0.26%
Prior close 15.64
VWAP
15.85
-0.14% from price
Relative volume
1.52×
Unusually busy
Session range
4.00%
15.64 – 16.26
Position in range
31%
Mid range
ATR (14D)
0.99
6.28% of price
Prior day high
15.78
PDH
Prior day low
15.26
PDL
Bid / ask spread
—
Quote not published
Session volume
25.49M
Avg 16.76M

VWAP and the session figures are computed from the delayed intraday series on this page, so they lag the live tape and will not match a broker's real-time VWAP exactly. Turn on Prior day H/L/C, Opening range and Volume profile in the chart's Studies menu to see these levels drawn on price.

Trailing performance

Price return · vs SPY
Returnvs SPY
1W
-3.90% -5.8%
1M
-4.76% -5.9%
3M
-23.50% -28.0%
6M
+14.92% -3.3%
YTD
-39.62% -53.9%
1Y
-51.71% -68.1%
3Y
+1,536.27% +1,454.0%
5Y
— —

Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.

Unusual options activity

Account required
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
Free account required

Contracts trading at or above their open interest, ranked by notional and where the print landed.

Free account

5 more panels on QBTS open with an account.

Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.

Insider net activity

6m · Form 4 rollup
Net shares
+418.45K
Net buying
Buy transactions
9
1.83M shares
Sell transactions
12
1.41M shares
Net transactions
+21
Buys less sells
Sell : buy shares
0.8 : 1
Mixed
Insider-held shares
8.24M
Total on file
Bought 1.83MSold 1.41M

Insider transactions

Account required
DateInsiderAction SharesValueHeld
Sep 8, 26
DILULLO JOHN DAVID
Director
SELL 1.10K $19.80K Direct
Jul 20, 26
AMES SOPHIE C
Officer
SELL 3.07K $52.04K Direct
Jun 15, 26
MARKOVICH JOHN M
Chief Financial Officer
SELL 246.04K $6.25M Direct
Jun 15, 26
GHAI ROHIT
Director
SELL 13.52K $357.06K Direct
Jun 9, 26
MARKOVICH JOHN M
Chief Financial Officer
SELL 51.05K $1.34M Direct
Jun 8, 26
BARATZ ALAN E
Chief Executive Officer
SELL 687.63K $17.97M Direct
Jun 8, 26
BARATZ ALAN E
Chief Executive Officer
CONVERSION 687.63K $612.09K Direct
Jun 5, 26
DILULLO JOHN DAVID
Director
SELL 7.85K $191.81K Direct
Jun 4, 26
WEST STEVEN M.
Director
STOCK 9.36K $0 Direct
Jun 4, 26
HOLT SHARON E
Director
STOCK 9.36K $0 Direct
Jun 4, 26
DILULLO JOHN DAVID
Director
STOCK 9.36K $0 Direct
Jun 4, 26
BISCAY ROGER
Director
STOCK 9.36K $0 Direct
Jun 4, 26
GHAI ROHIT
Director
STOCK 9.36K $0 Direct
Jun 4, 26
NIELSEN KIRSTJEN
Director
STOCK 9.36K $0 Direct
What this is, and what it is not

These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.

A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.

This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.

Free account required

Officer and director trades in their own stock, straight from Form 4 filings.

Insider holders

10 reporting
NameRelationShares heldLatest
AMES SOPHIE C
Officer 589.01K Sale
BARATZ ALAN E
Chief Executive Officer 3.30M Sale
BISCAY ROGER
Director 23.62K Stock Award(Grant)
GHAI ROHIT
Director 23.62K Sale
HOLT SHARON E
Director 84.70K Stock Award(Grant)
MARKOVICH JOHN M
Chief Financial Officer 1.13M Sale
NGUYEN DIANE
General Counsel 517.15K Sale
NIELSEN KIRSTJEN
Director 122.03K Stock Award(Grant)
PUBLIC SECTOR PENSION INVESTMENT BOARD
Beneficial Owner of more than 10% of a Class of Security 20.38M Sale
WEST STEVEN M.
Director 148.12K Stock Award(Grant)

Fundamentals

TTM · reported
Market cap$5.99B
Enterprise value$5.38B
Revenue (TTM)$12.43M
Gross profit$7.97M
EBITDA$-161.20M
Net income$-248.70M
EPS (TTM)$-0.70
Free cash flow$-73.38M
Total cash$546.21M
Total debt$48.11M
Book value / share$2.91
Shares outstanding376.45M
Float361.99M
Short % of float20.34%
Dividend yield0.00%
Beta (5Y)2.17

Valuation & profitability ratios

Account required
Trailing P/E—
Forward P/E-41.81
PEG ratio—
Price / sales—
Price / book5.42
EV / revenue433.22
EV / EBITDA-33.39
Gross margin64.19%
Operating margin-1732.06%
Profit margin0.00%
Return on equity-27.98%
Return on assets-10.65%
Debt / equity4.44
Current ratio20.55
Free account required

Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.

Financial statements

As reported · 5 years · 6 quarters
Blank means not reported, not zero
Line item2025202420232022YoY
Total revenue $24.59M$8.83M$8.76M$7.17M +178.5%
Operating revenue $24.42M$8.68M$8.71M$7.09M +181.2%
Cost of revenue $4.28M$3.26M$4.14M$2.92M +31.2%
Gross profit $20.31M$5.56M$4.62M$4.25M +265.0%
Research & development $50.73M$35.30M$37.88M$32.10M +43.7%
Selling, general & admin $69.94M$47.49M$47.29M$31.61M +47.3%
Total operating expense $120.67M$82.79M$85.17M$63.71M +45.8%
Operating income -$100.37M-$77.22M-$80.55M-$59.46M -30.0%
Net interest income $20.10M-$2.16M-$2.15M-$2.33M +1,031.1%
Pre-tax income -$355.06M-$143.88M-$82.72M-$53.70M -146.8%
Net income -$355.06M-$143.88M-$82.72M-$53.70M -146.8%
Net income to common -$355.06M-$143.88M-$82.72M-$53.70M -146.8%
Basic EPS -1.11-0.75-0.60-0.45 -48.0%
Diluted EPS -1.11-0.75-0.60-0.45 -48.0%
EBIT -$351.05M-$139.98M-$82.68M-$51.37M -150.8%
EBITDA -$348.74M-$138.05M-$80.83M-$49.03M -152.6%
Basic shares 321.20M192.13M137.99M119.65M +67.2%
Diluted shares 321.20M192.13M137.99M119.65M +67.2%

Options analytics

Account required
Put / call volume
0.22
Call-heavy session
Put / call open interest
—
Positioning, not flow
Max pain
12.00
-24.0% from spot
ATM implied vol
6.3%
Nearest strike to spot
Skew (10% OTM)
+25.0%
Puts bid over calls
Call volume
10.09K
Contracts, this expiry
Put volume
2.23K
Contracts, this expiry
Heaviest call OI
9.00
0 contracts
Heaviest put OI
12.00
144 contracts

Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.

Free account required

Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.

Earnings

History & consensus estimates
Reported vs expected · EPS
QuarterEst.ActualSurprise
Jun 2026 -0.09-0.13 -42.2%
Mar 2026 -0.08-0.05 +34.5%
Dec 2025 -0.06-0.09 -45.9%
Sep 2025 -0.07-0.05 +24.5%
Forward consensus
PeriodEPSAnalystsRevenueGrowth
Current quarter -0.09 16 $4.34M +16.0%
Next quarter -0.05 16 $32.17M +1,068.9%
Current year -0.29 17 $42.47M +72.7%
Next year -0.38 17 $80.61M +89.8%

Analyst targets & ownership

Account required
Mean target$34.65
High target$43.00
Low target$18.36
Implied upside118.89%
Analyst count16
ConsensusSTRONG BUY
Strong buy / Buy1 / 14
Hold2
Sell / Strong sell0 / 0
Held by insiders2.21%
Held by institutions53.96%
Institutions holding701
Free account required

Price targets, consensus spread, insider and institutional ownership.

Moving averages & technicals

Computed from 2Y daily closes
SMA 10
16.52
-4.21% from price
SMA 20
16.77
-5.84% from price
SMA 50
18.05
-12.52% from price
SMA 100
20.38
-22.34% from price
SMA 200
20.71
-23.77% from price
EMA 12
16.45
-3.80% from price
EMA 26
17.01
-6.93% from price
EMA 50
17.87
-11.42% from price
RSI (14)
39.7
Neutral
MACD (12,26,9)
-0.55
Hist -0.07
ATR (14)
0.99
6.30% of price
Realised vol 30D
57.6%
Annualised
Bollinger upper
17.98
20, 2σ
Bollinger lower
15.56
20, 2σ
50 / 200 cross
Death
18.05 vs 20.71
Trend bias
Below 200
-23.77%

Options chain

Account required
Expiry
Spot 15.83
Calls
StrikeLastBidAskVolOIIV
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
Puts
StrikeLastBidAskVolOIIV
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
Free account required

Every listed expiry, both sides of the book, with volume, open interest and implied volatility.

Risk profile

Daily returns · 1Y window
Beta vs SPY
4.19
More volatile than market
Correlation to SPY
0.50
Loosely linked
Realised vol 30D
57.6%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-71.0%
Peak to trough
Max drawdown 5Y
-96.7%
Peak to trough
ATR 14
0.99
6.30% of price
Beta (reported)
2.17
5Y monthly, from filing

Short interest

Semi-monthly exchange report · lags by ~2 weeks
Shares short
67.98M
Prior 66.95M
Change vs prior
+1.5%
Shorts adding
% of float
20.34%
Heavily shorted
% of shares out
17.91%
Against total outstanding
Days to cover
4.4
Liquid
Float
361.99M
Freely tradeable shares

Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.

Rating changes

89 on file
DateFirm ActionFromTo
Aug 7, 26 Rosenblatt MAINTAINED Buy Buy
Jul 28, 26 Rosenblatt MAINTAINED Buy Buy
Jul 27, 26 Benchmark INITIATED — Buy
Jun 15, 26 Mizuho MAINTAINED Outperform Outperform
Jun 11, 26 Rosenblatt MAINTAINED Buy Buy
Jun 2, 26 B. Riley Securities MAINTAINED Buy Buy
Jun 2, 26 Roth Capital MAINTAINED Buy Buy
Jun 2, 26 Rosenblatt MAINTAINED Buy Buy
Jun 2, 26 Needham MAINTAINED Buy Buy
May 13, 26 Canaccord Genuity MAINTAINED Buy Buy
May 13, 26 Rosenblatt MAINTAINED Buy Buy
May 13, 26 Cantor Fitzgerald MAINTAINED Overweight Overweight

Dividends & splits

Declared · from the issuer
Forward rate—
Forward yield0.00%
5-year avg yield—
Payout ratio—
Ex-dividend date—
Next pay date—
Last split—
Split date—

PRIVATE STRATEGY · BY QUALIFICATION

The same data. A different seat.

The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.