The D-Wave Quantum share has become one of the most spectacular high flyers in the tech sector in recent months. Things are going well on the stock market so far in 2026 too.
• Massive price rally drives up the valuation of D-Wave Quantum
• Sales growth high, losses still significant
• Long-term opportunities in the quantum market, but high risks
The D-Wave Quantum share ended 2025 at $26.15; on Friday, a share on the NYSE already cost just under $29: This means investors have had an increase of around 10 percent in their portfolios since the start of the year. The rally in the quantum computer company continues; over the last twelve months, the US stock market has risen by a whopping 447 percent, which has pushed the market capitalization to a value beyond the ten billion dollar mark.
However, driven by the hype surrounding quantum computing and initial commercial successes, the title remains highly speculative, with ongoing losses and a valuation that hovers far above operational realities.
Spectacular rally and operational progress
D-Wave has positioned itself as a pioneer in quantum annealing-based systems that enable practical applications in optimization, logistics and materials research, and is increasingly reporting commercial contracts with companies in finance, pharmaceuticals and logistics. The order backlog is growing, which underlines the transition from the research phase to market-ready solutions. Analysts rate the stock on TipRanks as “Strong Buy” on average, with price targets between $35 and $48 – the average price target of $40.23 still offers enormous upside potential of almost 40 percent.
High valuation meets the reality of loss
Despite the price surge, D-Wave remains unprofitable: The company regularly reports high operating losses, even if its sales growth is impressive. In the third quarter of 2025 alone, revenues climbed from $1.80 million to $3.7 million, while at the same time there was a net loss of $140 million – significantly more than the -$117.36 million net result in the same period of the previous year.
Future prospects offer opportunities
In the long term, D-Wave benefits from the global race for quantum supremacy, with growing demand for hybrid quantum solutions in AI, cybersecurity and supply chain optimization, where annealing technology offers practical advantages over gate-based systems. Forecasts see triple-digit million sales and positive margins by 2030, driven by scaling the Advantage system and cloud offerings such as Leap. However, risks lurk: technological hurdles, increasing competition, regulatory uncertainties and dependence on subsidies could slow down growth, as the forecast losses up to 2029 suggest.
Against this background, D-Wave is a speculative stock: Anyone who relies on the quantum breakthrough could be richly rewarded if commercialization continues; Conservatives should wait to see how the order book develops and milestones such as profitability.
Editorial team finanzen.net
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