D-Wave Quantum secures $80.5 million from warrant exercises

Palo Alto, California-based D-Wave Quantum Inc. has reported the generation of approximately $80.5 million in proceeds following the exercise of around 7 million warrants for the purchase of the company’s common stock. The warrants, with an exercise price set at $11.50 each, were originally assumed by D-Wave Quantum as part of their merger with DPCM Capital, Inc. on August 5, 2022. According to InvestingPro data, the company maintains a strong financial position with more cash than debt on its balance sheet and impressive gross profit margins of 83%.

This financial event, detailed in an 8-K filing with the Securities and Exchange Commission, occurred on Thursday, May 29, 2025. The exercised warrants were part of the company’s post-merger financing strategy.

D-Wave Quantum Inc., listed on the New York Stock Exchange under the ticker QBTS, specializes in computer processing and data preparation services, as indicated by its SIC classification (7374). The company, incorporated in Delaware, also has warrants trading under the symbol QBTS.WT on the same exchange.

The company’s business address is located at 2650 East Bayshore Road, Palo Alto, CA 94303, and it operates under the fiscal year ending December 31.

This recent development is part of the company’s ongoing financial activities and has been officially recorded in the SEC filing, providing transparency to investors and the public regarding D-Wave Quantum’s financial maneuvers. The stock has demonstrated remarkable performance, delivering a total return of over 1,000% in the past year, though InvestingPro analysis suggests the stock may be trading above its Fair Value.

The information provided in this article is based on the company’s latest SEC filing.

In other recent news, D-Wave Quantum Inc. announced the general availability of its Advantage2 quantum computer, which features significant performance improvements and is now accessible via its Leap cloud service. The new system, boasting over 4,400 qubits, is designed to tackle complex computational problems beyond the reach of classical computers. Analysts have responded positively, with B.Riley maintaining a Buy rating and setting a price target of $13, while Benchmark raised its target from $8 to $14, reflecting confidence in the company’s technological advancements and commercial prospects. The Advantage2 system’s enhancements include increased qubit connectivity, higher energy scale, and reduced noise, making it suitable for real-world applications in optimization, materials science, and artificial intelligence.

D-Wave Quantum’s recent developments also include a demonstration of quantum supremacy, where its system outperformed a top supercomputer in a materials simulation problem. This milestone underscores the potential of quantum computing in tackling complex research challenges and has drawn interest from the supercomputing community and national laboratories. The company has reported a 134% increase in customer use of its Advantage2 prototypes over the last six months, with applications spanning various sectors such as mobile network optimization and workforce scheduling. The company plans to expand its fleet of annealing quantum computers globally, with on-premises systems available for purchase. These advancements highlight D-Wave Quantum’s progress in executing its product roadmap and expanding its commercial reach.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.