D-Wave Quantum Q4 Sales Flat; Shares Gain On Upbeat Revenue Guidance

D-Wave Quantum Inc (NYSE:QBTS) reported fourth-quarter revenues of $2.4 million, flat on a year-over-year basis.
The company continued the expansion of its commercial footprint with over 67 commercial customers, an increase of 18% Y/Y.
Adjusted gross margin expanded by 430 basis points to 68.1%.
EPS was $(0.10), narrower than $(0.11) in the year-ago period. Adjusted EBITDA loss was $(14.5) million for the quarter, wider than $(9.3) million in the year-ago period.
Net loss for the fourth quarter was $(12.5) million, narrower than $(13.8) million in the year-ago period.
On April 13, 2023, D-Wave entered into a $50 million four-year term loan agreement with PSPIB Unitas Investments II Inc., an affiliate of PSP Investments.
FY23 Outlook: D-Wave expects revenue of $12 million - $13 million representing year-over-year growth of 67% to 80%.
The company expects to maintain its revenue growth rate over the next several years.
Price Action: QBTS shares are trading higher by 3.58% at $0.65 premarket on the last check Friday.

Benzinga