Quantum Computing Stock Cools Off After Revenue Whiff

D-Wave Quantum Inc (QBTS) stock fell 3.1% to $23.26 after reporting first-quarter revenue of $2.86 million, far below the $4.2 million estimate, despite a smaller-than-expected loss per share and record bookings. While peers IonQ and Rigetti Computing rose, QBTS faces potential analyst sentiment shifts, though 13 of 15 brokerages still rate it 'buy' or better, with options traders showing heavy call volume." "article": "D-Wave Quantum Inc (NYSE: QBTS) shares dropped 3.1% to $23.26 following its first-quarter earnings report. The company recorded revenue of $2.86 million, missing the $4.2 million projection by 81%, despite a narrower loss of five cents per share and $33.4 million in bookings—up from the prior year. The revenue shortfall overshadowed positive metrics, including a smaller loss per share than expected and record bookings. While competitors IonQ and Rigetti Computing rose 3% and 0.6% respectively, QBTS’s stock is down 11% in 2026, though it remains 116% higher year-over-year. Analyst sentiment remains cautiously optimistic, with 13 of 15 brokerages maintaining 'buy' or better ratings, despite the revenue miss. No brokerages have issued a 'sell' recommendation. Options traders showed strong interest, with 10,000 calls traded in the first hour—double the average intraday volume and five times the number of puts. The May 25 call option was the most active, alongside the 23- and 24-strikes expiring this week. The stock is testing its 320-day moving average, which was breached last week for the first time this year, signaling potential volatility ahead.