D-Wave's Q2 Results Highlight Robust Growth, Promising Quantum Computing Trajectory
Portfolio Pulse from Anusuya Lahiri
D-Wave Quantum Inc (NYSE:QBTS) reported Q2 results, with a significant boost in liquidity and a 146% YoY increase in quarterly bookings. The company's customer base has grown, with revenue-producing customers increasing to 115 from 109 QoQ. Commercial customers, making up 59% of the total, have risen to 47 from 44. The company has revised its FY23 guidance, expecting an annual revenue between $11 million to $13 million. Benchmark analyst David Williams reiterated D-Wave Quantum with a Buy and $4 price target.
August 15, 2023 | 7:00 pm
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D-Wave Quantum's Q2 results show robust growth, with a significant increase in liquidity and quarterly bookings. The company's customer base has grown, and it has revised its FY23 revenue guidance upwards. The stock has a Buy rating and a $4 price target from Benchmark.
The company's robust Q2 results, increased liquidity, and growing customer base are positive indicators for the stock. The upward revision of the FY23 revenue guidance and the Buy rating from Benchmark further support a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100