D-WAVE QUANTUM INC. (QBTS) FY2026 Q2 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-04-01 to 2026-06-30

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D-WAVE QUANTUM INC. cash flow reconciliation, Apr 1, 2026 through Jun 30, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Calculated remaining financing cash flows are purple; remaining operating and investing bundles are gray. Their underlying inflows and outflows are not separately identified. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Orange marks positive customer-advance and deferred-revenue changes that add to operating cash in the reconciliation. These are net changes, not gross customer receipts. Negative changes are neutral reconciliation adjustments; they do not by themselves identify cash payments. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Maturities of marketable debt securities → investing reconciliation: $147,241,000.00investing reconciliation → Purchases of marketable debt securities: $149,117,000.00investing reconciliation → Purchase of property and equipment: $4,440,000.00investing reconciliation → Acquisition of business, net of cash acquired: $2,000,000.00investing reconciliation → Expenditures for internal-use software: $200,000.00Proceeds from the issuance of common stock upon exercise of stock options → financing reconciliation: $1,520,000.00Proceeds from common stock issued under the Employee Stock Purchase Plan → financing reconciliation: $724,000.00financing reconciliation → Payment of tax withheld pursuant to stock-based compensation settlements: $6,885,000.00financing reconciliation → Repayment of the Equipment Financing Term Loan: $35,000.00Net cash used in operating activities → operating reconciliation: $28,503,000.00Stock-based compensation → operating reconciliation: $11,113,000.00Trade accounts receivable → operating reconciliation: $6,888,000.00Depreciation and amortization → operating reconciliation: $4,733,000.00Remaining operating cash flows, net (calculated) → operating reconciliation: $2,479,000.00Amortization of operating right-of-use assets → operating reconciliation: $352,000.00Non-cash interest expense → operating reconciliation: $233,000.00Other non-current assets, net → operating reconciliation: $124,000.00Trade accounts payable → operating reconciliation: $25,000.00operating reconciliation → Net loss: $48,028,000.00operating reconciliation → Prepaid expenses and other current assets: $1,802,000.00operating reconciliation → Accrued expenses and other current liabilities: $1,372,000.00operating reconciliation → Inventories: $1,129,000.00operating reconciliation → Deferred revenue: $1,020,000.00operating reconciliation → Unrealized foreign exchange loss (gain): $966,000.00operating reconciliation → Provision for excess and obsolete inventory: $73,000.00operating reconciliation → Operating lease liability: $60,000.00Net cash used in financing activities → financing reconciliation: $4,676,000.00Net cash used in investing activities → investing reconciliation: $8,516,000.00Exchange-rate effect → Cash sources and uses: $140,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $338,197,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $296,642,000.00Cash sources and uses → Net cash used in investing activities: $8,516,000.00Cash sources and uses → Net cash used in financing activities: $4,676,000.00Cash sources and uses → Net cash used in operating activities: $28,503,000.00Net loss: -$48,028,000.00Net loss−$48.03 MDepreciation and amortization: $4,733,000.00Depreciation & amortization+$4.73 MDeferred income taxes: -$0.00Stock-based compensation: $11,113,000.00Stock-based compensation+$11.11 MAmortization of operating right-of-use assets: $352,000.00Operating lease amortization+$352.00 KProvision for excess and obsolete inventory: -$73,000.00Inventory write-downs−$73.00 KNon-cash interest expense: $233,000.00Non-cash interest expense+$233.00 KChange in fair value of warrant liabilities: $0.00Gain on marketable equity securities: -$0.00Unrealized foreign exchange loss (gain): -$966,000.00FX transaction gain & loss−$966.00 KOther noncash items: $0.00Trade accounts receivable: $6,888,000.00Accounts receivable+$6.89 MInventories: -$1,129,000.00Inventories−$1.13 MPrepaid expenses and other current assets: -$1,802,000.00Prepaid & other assets−$1.80 MTrade accounts payable: $25,000.00Trade payables+$25.00 KAccrued expenses and other current liabilities: -$1,372,000.00Accrued liabilities−$1.37 MDeferred revenue: -$1,020,000.00Deferred revenue−$1.02 MOperating lease liability: -$60,000.00Operating lease liabilities−$60.00 KOther non-current assets, net: $124,000.00Other noncurrent assets+$124.00 KRemaining operating cash flows, net (calculated): $2,479,000.00Remaining operating (calculated)+$2.48 MNet cash used in operating activities: -$28,503,000.00. Cash required to fund net payments.Operating cash−$28.50 Moperating reconciliation: $54,450,000.00Proceeds from the issuance of common stock pursuant to the Lincoln Park Purchase Agreement: $0.00Proceeds from the issuance of common stock in at-the-market offerings, net of issuance costs: $0.00Proceeds from issuance of common stock upon exercise of warrants: $0.00Proceeds from the issuance of common stock upon exercise of stock options: $1,520,000.00Stock option exercises+$1.52 MRepayments on TPC loan: $0.00Payment of tax withheld pursuant to stock-based compensation settlements: -$6,885,000.00Stock-award tax withholding−$6.89 MRepayment of the Equipment Financing Term Loan: -$35,000.00Related-party debt repaid−$35.00 KProceeds from common stock issued under the Employee Stock Purchase Plan: $724,000.00Employee stock purchase proceeds+$724.00 KPayments of equity issuance costs: $0.00Net cash used in financing activities: -$4,676,000.00. Cash required to fund net payments.Financing cash−$4.68 Mfinancing reconciliation: $6,920,000.00Acquisition of business, net of cash acquired: -$2,000,000.00Acquisitions, net of cash−$2.00 MPurchase of property and equipment: -$4,440,000.00PP&E purchases−$4.44 MPurchases of marketable debt securities: -$149,117,000.00Marketable securities purchases−$149.12 MMaturities of marketable debt securities: $147,241,000.00Marketable securities proceeds+$147.24 MProceeds from recovery of previously written-off convertible note: $0.00Expenditures for internal-use software: -$200,000.00Software development costs−$200.00 KNet cash used in investing activities: -$8,516,000.00. Cash required to fund net payments.Investing cash−$8.52 Minvesting reconciliation: $155,757,000.00Cash sources and uses: $338,337,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $338,197,000.00Beginning cash$338.20 MEnding cash: Cash, cash equivalents, and restricted cash: $296,642,000.00Ending cash$296.64 MExchange-rate effect: $140,000.00FX effect+$140.00 KCASH RECONCILIATIONInvestingflowsFinancingflowsOperatingflowsNet loss −$48.03M + net operating adjustments $19.53M = operating cash −$28.50MFree cash flow−$32.94 MOperating cash − cash spent on PP&ECash flow / Net incomeNot meaningfulOperating cash flow ÷ net incomeNet cash change−$41.56 MEnding cash − beginning cash
Chart details

D-WAVE QUANTUM INC. cash flow reconciliation, Apr 1, 2026 through Jun 30, 2026

Cash flows for Apr 1, 2026 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Mar 31, 2026. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Mar 31, 2026
338,197,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
negative 28,503,000 US dollars. Net cash used. The remaining amount is calculated by subtracting the other displayed items from the operating total. This quarter is the year to date less the prior quarter's year to date. The prior quarter reported part of this section under different lines (Non-cash interest income), so Non-cash interest income cannot be separated for this quarter. It may combine inflows and outflows.
Net loss
negative 48,028,000 US dollars
Depreciation and amortization
4,733,000 US dollars
Deferred income taxes
0 US dollars
Stock-based compensation
11,113,000 US dollars
Amortization of operating right-of-use assets
352,000 US dollars
Provision for excess and obsolete inventory
negative 73,000 US dollars
Non-cash interest expense
233,000 US dollars
Change in fair value of warrant liabilities
0 US dollars
Gain on marketable equity securities
0 US dollars
Unrealized foreign exchange loss (gain)
negative 966,000 US dollars
Other noncash items
0 US dollars
Trade accounts receivable
6,888,000 US dollars
Inventories
negative 1,129,000 US dollars
Prepaid expenses and other current assets
negative 1,802,000 US dollars
Trade accounts payable
25,000 US dollars
Accrued expenses and other current liabilities
negative 1,372,000 US dollars
Deferred revenue
negative 1,020,000 US dollars
Operating lease liability
negative 60,000 US dollars
Other non-current assets, net
124,000 US dollars
Remaining operating cash flows, net (calculated)
2,479,000 US dollars
Investing activities
negative 8,516,000 US dollars. Net cash used.
Acquisition of business, net of cash acquired
negative 2,000,000 US dollars
Purchase of property and equipment
negative 4,440,000 US dollars
Purchases of marketable debt securities
negative 149,117,000 US dollars
Maturities of marketable debt securities
147,241,000 US dollars
Proceeds from recovery of previously written-off convertible note
0 US dollars
Expenditures for internal-use software
negative 200,000 US dollars
Financing activities
negative 4,676,000 US dollars. Net cash used.
Proceeds from the issuance of common stock pursuant to the Lincoln Park Purchase Agreement
0 US dollars
Proceeds from the issuance of common stock in at-the-market offerings, net of issuance costs
0 US dollars
Proceeds from issuance of common stock upon exercise of warrants
0 US dollars
Proceeds from the issuance of common stock upon exercise of stock options
1,520,000 US dollars
Repayments on TPC loan
0 US dollars
Payment of tax withheld pursuant to stock-based compensation settlements
negative 6,885,000 US dollars
Repayment of the Equipment Financing Term Loan
negative 35,000 US dollars
Proceeds from common stock issued under the Employee Stock Purchase Plan
724,000 US dollars
Payments of equity issuance costs
0 US dollars
Operating adjustment reconciliation
54,450,000 US dollars. Intermediate calculation joining the displayed items and the calculated net remainder. It does not establish gross cash receipts or payments and is not an additional cash flow.
financing gross reconciliation
6,920,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
155,757,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
140,000 US dollars
Ending cash on Jun 30, 2026
296,642,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
338,337,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 41,555,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
Not meaningful. Operating cash flow divided by reconciliation net income for the same period. The ratio is not meaningful when net income is zero or negative.
Operating cash flow
negative 28,503,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
4,440,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
negative 32,943,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net loss −$48.03M + net operating adjustments $19.53M = operating cash −$28.50M. The loss reduces the earnings basis of the reconciliation; it is not a cash payment. The signed loss remains a deduction at the operating reconciliation junction.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: negative 28,503,000 US dollars minus 4,440,000 US dollars equals negative 32,943,000 US dollars.
D-WAVE QUANTUM INC. (QBTS) FY2026 Q2 Statement of Cash Flows Sankey chart
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