D-Wave Quantum (QBTS) on Thursday reported a smaller-than-expected first quarter loss while revenue topped views as investors focus on the near-term growth outlook for quantum computing stocks.
For the March quarter, D-Wave reported a 2-cent loss on an adjusted basis versus an 11-cent loss a year earlier. Revenue rose 509% to $15 million.
Wall Street analysts had forecast a 4-cent loss on revenue of $10.5 million.
Q1 bookings fell 64% to $1.6 million, the company said.
Further, D-Wave in February won a big deal in Germany. The Jülich Supercomputing Centre bought one of D-Wave's quantum systems.
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