QBTS stock forecast, quote, news & analysis
D-Wave Quantum Inc is in the development and delivery of quantum computing systems, software, and services, and it is the commercial supplier of quantum computers and the only company building both annealing quantum computers and gate-model quantum computers... Show more
Why D-Wave Quantum (QBTS) Stock Is Down -20% in the Last 30 Days
Key Takeaways
- D-Wave Quantum (QBTS) shares declined roughly 20% over the trailing 30 days, falling from about $20.76 to $16.58 as of the latest session close.
- The drop was driven primarily by a second-quarter revenue miss and the announced retirement of CFO John Markovich, each of which triggered single-day declines of more than 9%.
- A securities investigation by law firm Kessler Topaz Meltzer & Check LLP added to investor uncertainty following the earnings miss and leadership change.
- Operationally, first-half bookings surged more than 1,120% year over year, and commercial customers made up a larger share of revenue, signaling demand that has yet to flow through to reported results.
- The stock remains well below its 52-week high of $40.41 reached in October 2025, reflecting a broader repricing across the quantum-computing sector.
D-Wave Quantum (QBTS) Company Overview and Market Position
D-Wave Quantum Inc. is a developer and commercial supplier of quantum computing systems, software, and services. The company describes itself as the world's first commercial supplier of quantum computers and the only firm offering a dual-platform approach spanning both annealing and gate-model quantum technologies. Its offerings include on-premises quantum systems, the Leap quantum cloud service, professional services through its Launch program, and the open-source Ocean software development kit.
D-Wave's annealing technology is optimized for optimization and sampling problems, while its emerging gate-model roadmap targets fault-tolerant computing over the longer term. The company competes in a specialized field alongside peers such as IonQ, Rigetti Computing, and Quantum Computing Inc.. Investors follow QBTS closely because its commercial adoption metrics, bookings growth, and progress toward profitability serve as a barometer for the broader quantum-computing industry.
D-Wave Quantum (QBTS) Stock Price Performance: Last 30 Days vs. Quarter
Over the trailing 30 days, QBTS declined approximately 20%, moving from a close of about $20.76 on August 7 to $16.58 in the latest completed session. The decline was not linear: shares initially traded in a range near $20–$22 before two sharp, news-driven selloffs in late August pushed the stock to the low-to-mid $16 area.
The quarterly trend is even weaker. From a close of roughly $23.85 in early June, the stock has fallen about 30% through the latest session, extending a multi-month downtrend. On a year-to-date basis, the shares are also lower, and they remain roughly 60% below the 52-week high of $40.41 set in October 2025. This pattern reflects sustained selling pressure rather than a single isolated event.
What Drove QBTS Stock Price in the Last 30 Days
Two company-specific catalysts dominated the recent move. First, on August 6, D-Wave reported second-quarter revenue of approximately $3.08 million, essentially flat versus the prior-year period and below the analyst consensus of roughly $4.03 million. The miss, combined with a wider adjusted EBITDA loss, sent shares down more than 9% in a single session.
Second, on August 25, the company announced that CFO John Markovich would retire and resign effective September 2, with senior vice president of finance Greg Golkov named acting CFO. The company stated the departure was not related to any disagreement over accounting, financial statements, or internal controls. Nevertheless, shares fell another 9% the following day as investors reassessed governance and execution risk at a still-unprofitable company.
The negative reaction was amplified by a securities investigation launched by Kessler Topaz Meltzer & Check LLP, which cited the revenue miss and the CFO resignation. This added a layer of legal uncertainty on top of the fundamental concerns, even as broader quantum-computing names experienced related selling pressure.
What Drove QBTS Stock Performance Over the Last Quarter
The quarterly decline reflects a larger repricing of high-valuation, pre-profit growth names rather than any single event. D-Wave entered the period trading at a substantial premium to the broader software sector on a price-to-sales basis, leaving little cushion when sentiment toward speculative technology shifted.
At the same time, the company's fundamentals tell a mixed story. While near-term revenue was soft as D-Wave shifted toward larger system deliveries that take longer to recognize, its order book strengthened meaningfully: first-half bookings climbed more than 1,120% year over year to roughly $35.5 million, and remaining performance obligations rose 668% to about $40.7 million. Commercial customers represented 62.4% of second-quarter revenue, up from 45.1% a year earlier. This gap between improving demand indicators and weak reported revenue left the stock vulnerable when sentiment turned and governance concerns emerged.
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QBTS Stock Forecast Drivers: What Investors Should Watch Next
Several factors will shape QBTS going forward. The most important is the company's next earnings report, where investors will look for evidence that its large bookings and backlog are converting into recognized revenue, particularly in the fourth quarter when management expects most system revenue to be recognized. Guidance around system shipments and the progress of its 17-qubit dual-rail gate-model roadmap will also be closely watched.
Beyond earnings, investors should monitor the outcome and scope of the securities investigation, the search for a permanent CFO, and any analyst rating or price-target changes. Macroeconomic conditions, including interest-rate expectations and risk appetite for speculative growth stocks, will continue to influence sentiment across the quantum-computing sector. Competitive developments from peers and new commercial partnerships will likewise factor into how the market values D-Wave's commercialization progress.
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Momentum Indicator for QBTS turns positive, indicating new upward trend
QBTS saw its Momentum Indicator move above the 0 level on September 17, 2026. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 67 similar instances where the indicator turned positive. In 61 of the 67 cases, the stock moved higher in the following days. The odds of a move higher are at 90%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 51 of 57 cases where QBTS's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 89%.
The Moving Average Convergence Divergence (MACD) for QBTS just turned positive on September 17, 2026. Looking at past instances where QBTS's MACD turned positive, the stock continued to rise in 27 of 32 cases over the following month. The odds of a continued upward trend are 84%.
Following a +1.02% 3-day Advance, the price is estimated to grow further. Considering data from situations where QBTS advanced for three days, in 166 of 195 cases, the price rose further within the following month. The odds of a continued upward trend are 85%.
QBTS may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
QBTS moved below its 50-day moving average on August 17, 2026 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where QBTS declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 87%.
The Aroon Indicator for QBTS entered a downward trend on September 21, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron Price Growth Rating for this company is 64 (best 1 - 100 worst), indicating fairly steady price growth. QBTS’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of 88 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (5.995) is normal, around the industry mean (7.364). P/E Ratio (0.000) is within average values for comparable stocks, (49.824). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (23.980). Dividend Yield (0.000) settles around the average of (0.004) among similar stocks. QBTS's P/S Ratio (476.190) is very high in comparison to the industry average of (51.774).
The Tickeron SMR rating for this company is 96 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is 100 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. QBTS’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 86, placing this stock worse than average.
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