Quantum News Nexus

Earnings season for quantum companies is now in full swing, as D-Wave Quantum reported third quarter numbers this morning, less than 24 hours after IonQ’s Q3 report.

D-Wave’s Q3 revenue was $3.7 million, just about doubling its $1.9 million back in Q3 2024. Closed bookings also soared to $2.4 million in Q3, up 80% from the Q2 2025 mark of $1.3 million. D-Wave additionally said current-quarter bookings are starting off strong, with nearly $12 million in bookings closed since the end of Q3.

The company also reported a Q3 net loss $140 million, or $0.41 per share, an increase of $117.3 million, or $0.30 per share, from the fiscal 2024 third quarter net loss of $22.7 million, or $0.11 per share. Both the revenue and net loss figures beat estimates.

SkyWater Technology, which has a foundry strategy heavily focused on quantum, also reported earnings this week. Here’s a quote from that release from CEO Thomas Sonderman:

“Revenues from multiple quantum computing customers reached a new quarterly record, and we are on track to exceed 30% growth in our ATS revenues from quantum customers in fiscal 2025. We have signed four new quantum customers since the second quarter, building significant momentum as we establish SkyWater as the foundry partner of choice for this emerging growth end market. We believe our exclusively U.S. focus and Trusted status as a pure-play foundry partner make us the ideal manufacturing partner for multiple quantum computing technologies, and we expect to announce continued momentum in the coming quarters.”

And on top of all the earnings reports, there is a bunch of other news happening. Hoping to have more to say about all this later today, but for D-Wave, this is very good progress for a company that can’t match the bigger revenue figures posted by IonQ, but claims more than 100 revenue-generating customers. For SkyWater, the quantum focus looks like it is paying off.

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Quantum News Nexus is a new site from freelance writer and editor Dan O’Shea that covers quantum computing, quantum sensing, quantum networking, quantum-safe security, and more. You can find him on X @QuantumNewsGuy and doshea14@gmail.com.