D-Wave Quantum Inc. (QBTS) Spending and interest coverage
- R&D / revenue · 12 months: Value 658.22%; Formula and calculation Research and development expense / revenue. Period ending 2026-06-30..
- Stock-based compensation / revenue · 12 months: Value 250.50%; Formula and calculation Share-based compensation / revenue. Period ending 2026-06-30..
- Interest coverage · 12 months: Value (m); Formula and calculation Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified..
Spending and interest coverage
Overview →Financial period ending 2026-06-30; current quote (m). Amounts retain their stated periods and units.
| Metric | Value | Formula and calculation |
|---|---|---|
| R&D / revenue · 12 months | 658.22% | Research and development expense / revenue. Period ending 2026-06-30. $81.78M ÷ $12.43M × 100 ≈ 658.22% |
| Stock-based compensation / revenue · 12 months | 250.50% | Share-based compensation / revenue. Period ending 2026-06-30. $31.13M ÷ $12.43M × 100 ≈ 250.50% |
| Interest coverage · 12 months | (m) | Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified. Calculation unavailable: missing inputs remain (m). |
Calculation inputs
| Input | Amount with unit | Raw financial data |
|---|---|---|
| Research and development spending | 81.78M USD | Research and Development Expense |
| Revenue | 12.43M USD | Revenue from Contract with Customer, Excluding Assessed Tax |
| Stock-based compensation | 31.13M USD | Share-based Payment Arrangement, Noncash Expense |
| Operating income | -170.58M USD | Operating Income (Loss) |
| Interest expense · reported / estimated | (m) | Interest Expense · Estimated expense assumptions |
Latest interest expense basis: (m). Estimated values carry *; expand each history row’s basis for its dated balances and rate assumptions.
Calculated history
Changes compare with the next older row (previous quarter), unless explicitly labeled otherwise. Rolling 12-month growth compares two successive quarter-end rolling totals; it is not year-over-year growth.
| Period ending | Research and development spending (USD) | Revenue (USD) | Stock-based compensation (USD) | Operating income (USD) | Interest expense · reported / estimated (USD) | R&D / revenue | SBC / revenue | Interest coverage | Interest expense basis |
|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | $81.78M | $12.43M | $31.13M | $-170.58M | (m) | 658.22% | 250.50% | (m) | (m) |
| 2026-03-31 | $66.24M | $12.44M | $26.68M | $-143.80M | (m) | 532.30% | 214.42% | (m) | (m) |
| 2025-12-31 | $50.73M | $24.59M | $22.66M | $-100.37M | (m) | 206.34% | 92.15% | (m) | (m) |
| 2025-09-30 | $46.81M | $24.14M | $21.00M | $-85.76M | (m) | 193.87% | 86.96% | (m) | (m) |
| 2025-06-30 | $41.40M | $22.27M | $18.59M | $-78.66M | (m) | 185.87% | 83.48% | (m) | (m) |
| 2025-03-31 | $37.06M | $21.36M | $16.14M | $-71.00M | (m) | 173.49% | 75.57% | (m) | (m) |
| 2024-12-31 | $35.30M | $8.83M | $15.66M | $-77.22M | (m) | 399.91% | 177.42% | (m) | (m) |
| 2024-09-30 | $33.50M | $9.42M | $16.34M | $-73.53M | (m) | 355.52% | 173.40% | (m) | (m) |
| 2024-06-30 | $34.30M | $10.12M | $18.17M | $-71.30M | (m) | 339.02% | 179.64% | (m) | (m) |
| 2024-03-31 | $35.49M | $9.64M | $18.67M | $-73.37M | (m) | 368.13% | 193.70% | (m) | (m) |
| 2023-12-31 | $37.88M | $8.76M | $21.92M | $-80.55M | (m) | 432.50% | 250.27% | (m) | (m) |
| 2023-09-30 | $40.22M | $8.25M | $23.17M | $-85.03M | (m) | 487.74% | 280.96% | (m) | (m) |
| 2023-06-30 | $38.30M | $7.38M | $19.04M | $-81.70M | (m) | 519.02% | 258.01% | (m) | (m) |
| 2023-03-31 | $36.21M | $7.04M | $15.14M | $-73.20M | $4.56M | 514.18% | 214.91% | -16.04× | Reported |
| 2022-12-31 | $32.10M | $7.17M | $9.16M | $-59.46M | $4.63M | 447.53% | 127.76% | -12.83× | Reported |
| 2022-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2022-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2022-03-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2021-12-31 | $25.40M | $6.28M | $1.74M | $-38.95M | $1.73M | 404.54% | 27.70% | -22.54× | Reported |
| 2021-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2021-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2020-12-31 | $20.41M | $5.16M | $2.99M | $-31.47M | $5.26M | 395.56% | 57.93% | -5.99× | Reported |
(m) means missing inputs. Historical market-based ratios use the saved close on or immediately before period ending and that period’s reported shares; current quotes are not substituted. Five-year projections repeat historical CAGR, not analyst forecasts.
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