D-Wave Quantum Inc. (QBTS) reported Loss for its fourth quarter that increased from the same period last year and missed the Street estimates.
The company's earnings totaled -$86.08 million, or -$0.37 per share. This compares with -$16.01 million, or -$0.10 per share, last year.
Excluding items, D-Wave Quantum Inc. reported adjusted earnings of -$17.81 million or -$0.08 per share for the period.
Analysts on average had expected the company to earn -$0.06 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 20.6% to $2.31 million from $2.91 million last year.
D-Wave Quantum Inc. earnings at a glance (GAAP) :
-Earnings: -$86.08 Mln. vs. -$16.01 Mln. last year.
-EPS: -$0.37 vs. -$0.10 last year.
-Revenue: $2.31 Mln vs. $2.91 Mln last year.
The company expects 1st quarter revenue to be more than $10 million. A major part of this includes revenue recognized
from the sale of an Advantage annealing quantum computer.
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