Here's What Analysts Are Forecasting For D-Wave Quantum Inc. (NYSE:QBTS) After Its First-Quarter Results

D-Wave Quantum Inc. (NYSE:QBTS) last week reported its latest quarterly results, which makes it a good time for investors to dive in and see if the business is performing in line with expectations. Revenues came in at US$2.9m, a whole 31% below what the analysts were forecasting. Losses were a (relative) bright spot by comparison, with a per-share (statutory) loss of US$0.05 substantially smaller than what was expected. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on D-Wave Quantum after the latest results.

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After the latest results, the 16 analysts covering D-Wave Quantum are now predicting revenues of US$43.4m in 2026. If met, this would reflect a sizeable 248% improvement in revenue compared to the last 12 months. The loss per share is expected to greatly reduce in the near future, narrowing 61% to US$0.39. Before this earnings announcement, the analysts had been modelling revenues of US$43.6m and losses of US$0.40 per share in 2026. It looks like there's been a modest increase in sentiment in the recent updates, with the analysts becoming a bit more optimistic in their predictions for losses per share, even though the revenue numbers were unchanged.

See our latest analysis for D-Wave Quantum

The average price target held steady at US$35.17, seeming to indicate that business is performing in line with expectations. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. The most optimistic D-Wave Quantum analyst has a price target of US$45.00 per share, while the most pessimistic values it at US$19.58. This is a fairly broad spread of estimates, suggesting that analysts are forecasting a wide range of possible outcomes for the business.

Of course, another way to look at these forecasts is to place them into context against the industry itself. The analysts are definitely expecting D-Wave Quantum's growth to accelerate, with the forecast 4x annualised growth to the end of 2026 ranking favourably alongside historical growth of 40% per annum over the past three years. Compare this with other companies in the same industry, which are forecast to grow their revenue 17% annually. Factoring in the forecast acceleration in revenue, it's pretty clear that D-Wave Quantum is expected to grow much faster than its industry.

The Bottom Line

The most obvious conclusion is that the analysts made no changes to their forecasts for a loss next year. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that in mind, we wouldn't be too quick to come to a conclusion on D-Wave Quantum. Long-term earnings power is much more important than next year's profits. At Simply Wall St, we have a full range of analyst estimates for D-Wave Quantum going out to 2028, and you can see them free on our platform here..

That said, it's still necessary to consider the ever-present spectre of investment risk. We've identified 3 warning signs with D-Wave Quantum , and understanding them should be part of your investment process.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.