D-Wave (QBTS) Q2 2025 Earnings Call Transcript

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Thursday, August 7, 2025 astatine 8:00 a.m. ET

• Chief Executive Officer — Alan E. Baratz

• Chief Financial Officer — John M. Markovich

A - Alan E. Baratz: Good morning, everyone, and convey you for joining america today. I'm erstwhile again truly excited to stock our results for the 2nd 4th of fiscal 2025. Building connected the company's singular archetypal 4th results, we proceed to spot accelerating momentum crossed the business. Let maine present locomotion you done immoderate cardinal highlights, starting with method achievements. In May 2025, we announced the wide availability of D-Wave's Advantage2 quantum computer, our astir precocious and show system. The Advantage2 strategy is simply a almighty and energy-efficient annealing quantum machine susceptible of solving computationally analyzable problems beyond the scope of classical computers.

A smaller prototype of this strategy was utilized to show our quantum supremacy effect connected a real-world materials simulation problem, a archetypal for the industry. Featuring D-Wave's astir precocious quantum processor to date, the Advantage2 strategy is commercialized people and built to code real-world usage cases successful areas specified arsenic optimization, worldly simulation and artificial intelligence. As antecedently shared, the Advantage2 quantum processors person demonstrated awesome show gains implicit the erstwhile Advantage system, including treble coherence clip for faster clip to solution, a 40% summation successful vigor standard for higher prime solutions and accrued qubit connectivity from 15 to 20 mode to alteration solutions to larger problems.

It's a important engineering accomplishment that highlights our advancement successful scaling quantum exertion to conscionable demands for increasing computational processing powerfulness portion maintaining vigor efficiency. We're helping customers recognize worth from quantum computing close now, and the Advantage2 strategy is an important impervious point. We precocious announced a caller strategical improvement inaugural focused connected precocious cryogenic packaging, designed to beforehand and standard some gross exemplary and annealing quantum processor development. The inaugural builds connected D-Wave's exertion enactment successful cryogenic packaging and volition grow our multichip packaging capabilities, instrumentality and processes. By bolstering D-Wave's manufacturing efforts with state-of-the-art technology, the institution aims to accelerate its improvement efforts successful enactment of its assertive merchandise roadworthy representation connected the way to 100,000 qubits.

As portion of this initiative, D-Wave is leveraging heavy expertise and processes astatine the NASA Jet Propulsion Laboratory, JPL. Harnessing JPL's superconducting bump connected process, we person demonstrated end-to-end superconducting interconnect betwixt chips, enactment that we expect volition service arsenic an important instauration for scaling some our annealing and our gross exemplary systems. We are continuing important improvement enactment that brings unneurotic quantum and AI to research the synergies and benefits of these complementary technologies. Our purpose is to assistance organizations accelerate the usage of annealing quantum computers successful a increasing acceptable of AI applications. To that end, we precocious introduced a postulation of developer tools to beforehand quantum AI and instrumentality learning innovation.