D-Wave Quantum Stock Falls Despite Record Bookings on Revenue Miss
D-Wave Quantum's stock declined after the company reported first-quarter revenue that fell short of analyst estimates, even as bookings surged to a record $33.4 million, up from $1.6 million a year earlier. The jump was driven by a $20 million sale to a university system. The revenue miss overshadowed the strong demand signal, leading to a negative market reaction.
Key facts
- D-Wave Quantum reported Q1 revenue below analyst expectations.
- Bookings reached $33.4 million, up from $1.6 million year-over-year.
- A $20 million university system sale drove the bookings surge.
- The stock price fell despite the record bookings.
- Revenue miss was the primary cause of the stock decline.
Entities
Institutions
- D-Wave Quantum
Sources
- Quartz —