Summary by Moomoo AI
D-Wave Quantum Inc. reported fiscal year 2024 revenue of $8.8 million, consistent with the prior year, while net loss widened to $143.9 million from $82.7 million in 2023. QCaaS revenue increased by $1.9 million, offset by a similar decrease in professional services revenue. The company achieved a significant milestone by demonstrating quantum supremacy on a real-world problem using its 1,200+ qubit Advantage2 quantum computing prototype.The company significantly strengthened its financial position, raising $214.2 million through equity offerings in 2024 and an additional $146.2 million in January 2025. Cash and cash equivalents increased to $178.0 million as of December 31, 2024, compared to $41.3 million at the end of 2023. The company also fully repaid its $30 million Term Loan with PSPIB in October 2024.D-Wave continued to advance its technology and commercial deployment, with nearly 17 million problems run on its Advantage2 prototypes. The company expanded its quantum cloud service to 42 countries and maintained over 99.9% uptime across key components. Strategic partnerships were strengthened, including the renewal of its collaboration with USC and new agreements with Davidson Technologies and Carahsoft to accelerate quantum adoption in the public sector.
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