D-Wave's Reports Preliminary 2Q23 Results, Sees Revenue of $1.65M-$1.80M Vs. $2.3M Estimate; Bookings increased 146% YoY To $2.5M
Portfolio Pulse from Benzinga Newsdesk
D-Wave has reported preliminary 2Q23 results, with revenues expected to be between $1.65M and $1.80M, lower than the $2.3M estimate. Bookings have increased by 146% YoY to $2.5M. The company has updated its full year 2023 guidance due to the timing of revenue recognition and current market conditions. It expects fiscal 2023 revenue to be between $11M and $13M, and Adjusted EBITDA to be less than negative $58M.
July 21, 2023 | 5:11 am
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D-Wave's lower than expected 2Q23 revenues and negative outlook for FY23 could potentially impact QBTS, if it is related to D-Wave.
The news about D-Wave's lower than expected revenues and negative outlook for FY23 could potentially impact QBTS, if it is related to D-Wave. However, the article does not provide enough information to determine the exact relationship between QBTS and D-Wave, hence the relevance, importance, and confidence scores are moderate.
CONFIDENCE 60
IMPORTANCE 70
RELEVANCE 50