Shares of D-Wave Quantum 
QBTS were mostly in the red early trading on Thursday after investors digested a mixed set of second quarter figures. The company posted an adjusted net loss of $0.08 a share for the quarter ended June 30, a modest improvement from the $0.12 loss a year earlier but shy of analysts’ $0.05 loss estimate. Revenue climbed 42% year-over-year to $3.1 Million, topping consensus forecasts.
On the earnings call, CEO Alan Baratz walked us through the highlights. He noted the launch of the sixth-generation quantum computer, a new memorandum of understanding for an on-premises system in South Korea and completion of assembly work at Davidson Technologies.
He also flagged a suite of developer tools designed to advance quantum AI and machine learning innovation, and reminded listeners that D-Wave closed the quarter with a record $819 Million in cash.
Bookings jumped 92% year-over-year to $1.3 Million, and the company said it has served over 100 revenue-generating customers in the past four quarters.
That strong top-line growth and hefty cash cushion help cushion the earnings shortfall and point to growing market traction.Investors will be watching closely for Q3 guidance when D-Wave reports results in late October.