D-Wave Quantum Inc. (NYSE:QBTS) posted record revenue in the first quarter, according to financial results released Thursday.
Revenue for the B.C.-founded quantum computer company hit US$15 million in Q1, up 507 per cent from the same period one year ago when revenue sat at US$2.47 million.
The quarterly financial results revealed a net loss of US$5.42 million, down from US$17.31 million during the same period one year ago.
D-Wave CEO Alan Baratz said in a statement the increase in revenue could mainly be attributed to the sale of the company’s first Advantage quantum computer to a major research institution.
A March study published in the Science academic journal concluded that
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