D-Wave Quantum Inc. (QBTS) stock soared to 300% Year to date (YTD), and the strong rally is largely attributed to the company’s announcement of participation in the upcoming CES (Consumer Electronics Show) 2026 event, and the analysts from firms such as Jefferies and Mizuho initiating bullish ratings. The stock closed at 32.19, gaining over 20% at close.
D-Wave is anticipated to showcase its Advantage2 quantum computer in the upcoming tech event. The CES, considered as one of the most powerful events in tech, is scheduled to take place from January 6 to 9 in Las Vegas, NV.
Commenting on the participation, Murray Thom, vice president of quantum technology evangelism at D-Wave, stated, “Showcasing quantum computing at CES, one of the world’s most influential technology stages, signals that the technology is quickly moving into the mainstream.”He further added, “D-Wave is uniquely positioned to demonstrate practical quantum in action, and we’re excited to show how our systems are helping customers solve complex problems now, often with greater speed, efficiency, and impact than classical computing alone.”
D-Wave is participating as a sponsor of the CES Foundry at the Fontainebleau Las Vegas, January 7–8. Murray Thom will present a CES Foundry masterclass and demo on January 7 from 1:00–1:30 p.m. According to the company, the class will showcase how D-Wave’s powerful, energy-efficient quantum computers can solve complex problems today and explore the potential for synergy among quantum, AI, and blockchain.
Analysts Rate ‘Buy’ for D-Wave
Analysts at Mizuho have assigned a “Buy” rating to D-Wave stock, while Jefferies has initiated a “Strong Buy” rating. The former projects an upside of 42.90%, and the latter puts it around 39.79%. The bullish rating stems from the conviction in the company’s quantum computing advancements.
Besides, the overall quantum market is projected to reach USD 4.24 billion by 2030, according to Grand View Research, with an impressive CAGR of 20.5% from 2025 to 2030.
D-Wave became the favourite of investors in quantum tech as it utilizes Quantum annealing, unlike rivals, who employ a gate-based (universal) quantum computing approach. The major competitors for the emerging tech player include technology heavyweights IonQ, Rigetti, IBM, and Google. Quantum annealing is designed specifically to solve optimization problems such as scheduling, logistics, and supply-chain planning by finding the most efficient solution among many possibilities. This method is less error-prone and can be used commercially today, which is why D-Wave already has paying customers. However, unlike gate-based quantum computers, D-Wave’s systems are not general-purpose, meaning they are highly practical for certain tasks now but may be less versatile in the long run.
The D-Wave reported revenue of $3.7 million in the third quarter, nearly doubling the earnings compared to the previous year. The 100% YOY growth is largely driven by $1.8 million in system upgrades to Advantage II, alongside growth in quantum cloud services and professional services.
Bookings rose to $2.4 million, with Q4 bookings already exceeding $12 million. The increased booking indicates increased enterprise demand.
The non-GAAP gross profit edged up 131% to $2.9 million, and gross margin widened to 77.7% on a higher mix of high-margin system sales. The adjusted net loss improved to $18.1 million, although the adjusted EBITDA loss widened to $20.6 million due to higher operating expenses. The loss was partially offset by stronger gross profit.
Associated Risks: Why Investors Need to be Cautious?
Despite the current enthusiasm around quantum computing, investors have to be cautious of the speculative nature of such emerging tech stocks. Moreover, the technology’s commercial adoption may face challenges in the future. The D-Wave also faces fierce competition from tech majors such as IBM, Google, and Microsoft.
