D-Wave Quantum (QBTS) Overstated Business Prospects Case
$QBTS investors filed a claim against D-Wave Quantum, its CEO, and its CFO for touting “exceptional momentum,” record bookings, and growing commercial adoption, while failing to disclose that D-Wave’s business and financial prospects were materially overstated.
After D-Wave reported second-quarter revenue of $3.08 million, below analyst expectations of about $4.03 to $4.08 million, its stock fell 9.28% on August 6, 2026, from $21.40 to $19.41 per share. After it announced its CFO’s resignation, the stock fell a further 9.51% on August 26, 2026.
$QBTS investors can join this case to be notified about potential recovery.
Case Details:
D-Wave is a quantum computing company that earns revenue from quantum computing as a service, professional services, and system sales. On February 26, 2026, D-Wave reported its 2025 results, with CEO Alan Baratz saying the Company was “entering 2026 with exceptional momentum” after “over $30 million in Bookings in January alone” and an eight-figure enterprise agreement. On May 12, 2026, it reported first-quarter results, with Baratz citing “strong execution, expanding commercial adoption,” and a record $10 million agreement with a Fortune 100 company.
Unbeknownst to investors, D-Wave’s business and financial prospects were materially overstated. On August 6, 2026, D-Wave reported second-quarter revenue of $3.08 million, roughly flat from $3.1 million a year earlier and well below analyst expectations. On August 25, 2026, it announced that CFO John Markovich was retiring and resigning effective September 2, 2026.
Based on these events, $QBTS investors filed a claim against D-Wave Quantum Inc., alleging the Company:
Materially overstated its operational and financial prospects
Failed to disclose that this was reasonably likely to harm its business and reputation
Made public statements that were materially false and misleading at all relevant times
Investors argue that had the truth about D-Wave’s business and financial prospects been disclosed, D-Wave’s stock would not have traded at artificially inflated prices during the Class Period.