Evercore ISI Group has initiated coverage on D-Wave Quantum Inc (QBTS) with an Outperform rating. This marks the firm's first assessment of the company's investment potential, informed by their analysis of its business model, industry dynamics, and growth prospects.
D-Wave Quantum, headquartered in Palo Alto, California, specializes in developing and delivering quantum computing systems, software, and services. The company, which employs 220 full-time staff, went public on October 11, 2020. Its offerings include cloud services, application development tools, and professional services aimed at facilitating the quantum computing journey for enterprises and developers. Notably, the Leap quantum cloud service provides real-time access to its quantum computers and hybrid solver services, while the Advantage quantum system is tailored for business applications.
As of December 2, 2025, D-Wave Quantum has a market capitalization of $7.5 billion and a trailing twelve-month earnings per share (EPS) of -1.35. Recent earnings performance has shown some volatility, with the company reporting a Q3 2025 EPS of -$0.05, exceeding estimates by 27.2%. However, the EPS figures have varied across the previous quarters, reflecting a mix of surprises both positive and negative.
Analyst consensus as of December 1, 2025, indicates a Buy rating, with 3 Strong Buy, 12 Buy, 1 Hold, and 1 Sell ratings from a total of 17 analysts. The announcement highlights a growing interest in D-Wave Quantum as it navigates the evolving landscape of quantum technology and computing solutions.
Investment decisions should take into account various factors, including company fundamentals, competitive positioning, and individual financial goals. Analyst ratings serve as one of many inputs in this process, subject to change as new information becomes available.
This brief was generated from structured financial data and reviewed by the Investing Point editorial team. It is for informational purposes only and does not constitute investment advice.