D-Wave Quantum Jumps on Unveiling of Breakthrough Error Aware Simulator

Key Stats for D-Wave Quantum Stock

• Price change for D-Wave Quantum stock: 8%
• $QBTS Share Price as of Jun. 18: $25
• 52-Week High: $47
• $QBTS Stock Price Target: $37

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What Happened?

D-Wave Quantum (QBTS) is generating attention after announcing the world’s first gate-model quantum simulator with error-aware programming — a significant expansion beyond its traditional annealing technology.

The new simulator uses a dual-rail architecture supporting up to 21 qubits and integrates Monte Carlo simulations. It is scheduled to go live on D-Wave’s Leap cloud platform in September 2026.

This move signals that D-Wave is no longer just an annealing company. It now has a foot in both major quantum computing approaches — annealing for optimization problems today and the gate model for more complex future workloads.

The Q1 financial results look rough on the surface.

• Revenue dropped 81% to $2.86 million. But the drop is explained by one factor — Q1 2025 included a $12.6 million one-time system sale that didn’t repeat this year.
• Strip that out, and the underlying business is growing, with QCaaS subscription revenue up 15% and professional services up 26%.
• More importantly, bookings hit a record $33.4 million — up nearly 2,000% from a year ago.
• The company’s backlog reached $42.4 million, up 563% year-over-year. And the pipeline more than doubled quarter over quarter.

Management now expects to close two to three system sales this year, up from the previous estimate of one per year.

Analysts are responding.

• Mizuho raised its price target to $35.
• Roth Capital and B. Riley both see the stock reaching $40.
• The average analyst target implies roughly 55% upside from current levels.

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What the Market Is Telling Us About D-Wave Quantum Stock

D-Wave stock is a high-risk, high-conviction bet. Revenue is lumpy and small. But $588 million in cash gives the company significant runway.

Usage of its existing Advantage2 system surged 314% over the past year — real traction, not just promises.

The gate-model simulator launch adds a second growth engine to the story. Institutional ownership sits at 42%, suggesting professional investors are already on board.

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Disclaimer:

Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!