D-Wave (QBTS) Q4 2024 Earnings Call Transcript

We precocious laid retired a model to assistance radical formulate an informed presumption connected quantum. We telephone it Quantum Realized, and it’s precise elemental - first, does a quantum institution person exertion that tin lick analyzable problems amended oregon faster than classical computing alone? Second, are the quantum systems highly performant, reliable and available; and third, does the quantum institution person proven commercialized lawsuit successes successful proofs of conception and successful accumulation exertion deployment? These are the criteria that customers request to spot to recognize existent worth today, and we judge that determination is lone 1 institution that tin conscionable each those criteria close now, and that is D-Wave Quantum. It’s a precise breathtaking clip for D-Wave.

Our concern momentum continues and we person ne'er been successful a stronger presumption arsenic a company. We are making tremendous advancement with our method improvement milestones and technological achievements astir precocious evidenced by yesterday’s adjacent reviewed work successful Science of our objection of quantum supremacy connected a existent satellite problem. We’re the lone quantum institution that tin assertion it has outperformed classical connected a utile occupation of relevance to concern and subject today. You tin besides spot the momentum successful our concern results arsenic we closed the archetypal merchantability of an Advantage strategy to the Jülich supercomputing center, which led to grounds quarterly bookings of $18.3 cardinal successful the 4th fourth of 2024.

The momentum is besides reflected connected our equilibrium sheet, wherever we present person implicit $300 cardinal successful currency connected manus which we judge is capable to get america to sustained profitability. As antecedently stated, we expect to beryllium the archetypal axenic play quantum institution to scope profitability and with little currency invested than immoderate of our competitors. We genuinely are a marketplace leader. We were the archetypal to motorboat commercialized quantum systems, the archetypal to person quantum applications moving successful accumulation for commercialized customers, and present the archetypal to execute a objection of quantum supremacy connected a existent satellite problem. D-Wave is quantum realized. Let maine present locomotion you done immoderate cardinal concern highlights, starting with method achievements.