New York Stock Exchange Star Stock: 2025 QBTS Latest Price, Analysis, and Market Outlook

Quantum computing company D-Wave Quantum (NYSE: QBTS) recently announced its Q3 2025 financial report, with revenue reaching $3.7 million, representing a 100% year-over-year growth and surpassing market expectations by 22.11%. As of December 26, the latest market data shows that short interest as a percentage of float has increased by 3.95%, with 41.81 million shares sold short, accounting for 12.12% of available tradable common shares.

01 Company Overview and Business Model

D-Wave Quantum Inc is a cutting-edge technology company focused on developing quantum computing systems, software, and services. Unlike traditional computers, the company performs computations using qubits to solve complex problems that are difficult for classical computers. The company’s core products include The Leap quantum cloud service and The Advantage quantum computer system. These products enable enterprises and developers to access quantum computing resources without building expensive hardware infrastructure themselves.

The company employs quantum annealing technology, which is particularly well-suited for solving optimization problems, offering unique advantages in logistics, financial modeling, drug discovery, and artificial intelligence. Recently, the company also announced the sale of quantum systems to the Italian government, demonstrating its market recognition among government and large corporate clients.

02 Financial Performance and Growth Outlook

D-Wave Quantum’s financial trajectory exhibits typical early-stage tech company characteristics: small revenue base but rapid growth. In Q3 2025, the company achieved revenue of $3.7 million, a 100% increase from the same period last year, with a loss of $0.05 per share, better than the market forecast of a $0.07 loss. More notably, the company’s cash position has surged by 2,700% year-over-year to $836.2 million. This ample cash reserve provides a solid foundation for technological R&D and market expansion.

Analysts are optimistic about the company’s growth prospects. Jefferies analysts forecast a potential compound annual growth rate (CAGR) of 73% over the next few years. CFO John Markovich even predicts that D-Wave could become “the first independent quantum computing company to achieve sustained profitability.”

03 Market Performance and Trading Data Analysis

QBTS is listed on the New York Stock Exchange, with recent stock price showing significant volatility. The current price fluctuates roughly between the mid-$20s and $30s, with recent trading around $27.50. The overall performance in 2025 has been strong, with the stock price multiplying several times compared to a year ago. Historical data shows a 52-week price range from $3.74 to $46.75, with the last trading day closing at $26.10. As of December 26, market sentiment indicators show that QBTS’s short interest has risen to 12.12%. Based on current trading volume, the average short covering time is about 1.3 days. This data reflects market divided expectations regarding the stock.

The stock’s volatility is also noteworthy, with a historical volatility of 108.62%, indicating a high-risk, high-volatility stock. For short-term traders, such stocks may offer significant price spread opportunities.

04 Analyst Views and Investment Ratings

Wall Street’s attention to D-Wave Quantum continues to grow. Over the past month, four Wall Street analysts have initiated coverage of the stock, giving buy or outperform ratings.

Among 12 analysts, 11 recommend “Buy,” 1 suggests “Sell,” resulting in a strong buy consensus. The average 12-month target price among analysts is $38.545, representing a 47.68% upside from the current price. Target prices vary significantly, with Mizuho setting the highest at $46.00, and the lowest at $22.54. This divergence reflects differing market assessments of the commercialization timeline and execution capabilities of the company.

Notably, Ken Griffin, head of the well-known hedge fund Citadel, has recently increased his holdings of D-Wave stock, seen as recognition of the sector’s prospects by professional investors.

05 Quantum Computing Industry Outlook

Quantum computing is viewed as the core of the next-generation computing paradigm, with the potential to revolutionize drug development, materials science, financial modeling, and artificial intelligence. Although commercialization is still in early stages, industry growth potential is enormous. D-Wave adopts a dual-track development strategy: continuing to focus on its expertise in annealing technology while exploring mainstream gate-model quantum computing. This approach allows the company to serve the broadest customer base.

The recent launch of the Advantage II quantum computer further consolidates its technological leadership. As hardware performance improves and the application ecosystem matures, 2026 could become a pivotal year for accelerating quantum computing commercialization.

06 Investment Risks and Considerations

Investing in D-Wave Quantum stock involves several key risks. First, the company is not yet profitable, with a negative P/E ratio, and its valuation is more based on future growth expectations than current financial performance.

Second, as a frontier technology, the timeline for commercialization and the ultimate market size are uncertain. Competition in technological routes is fierce, and D-Wave’s annealing approach must compete with other routes like gate-model quantum computing for industry dominance.

Additionally, the stock’s high volatility means prices could fluctuate sharply in the short term. Investors should carefully assess their risk tolerance and consider diversification strategies.

For traders using professional charting tools like TradingView, close attention should be paid to volume changes, key technical breakouts, and overall industry trends, as these factors could serve as catalysts for stock price movements.

On the path to quantum computing commercialization, D-Wave’s latest developments are highly watched. The company plans to continue investing in gate-model initiatives and expand globally through shared system capacity models. Management expects “revenue to continue growing over the next several quarters.”

With a cash balance exceeding $830 million, D-Wave has a longer R&D “runway” than many of its quantum computing peers. On the NYSE trading screens, QBTS’s movements are not just a company’s stock fluctuations but may also signal an investment trend in a new era of computing.