D-Wave Quantum Inc. (NYSE:QBTS) Q3 2024 Earnings Conference Call November 14, 2024 8:00 AM ET

Company Participants

Alan Baratz - Chief Executive Officer
John Markovich - Chief Financial Officer
Kevin Hunt - Investor Relations

Conference Call Participants

Quinn Bolton - Needham & Co.
David Williams - Benchmark
Richard Shannon - Craig Hallum
Craig Ellis - B. Riley
Suji Desiva - Roth Capital
Robert Aguanno - Piper Sandler

Operator

Good morning ladies and gentlemen and welcome to the D-Wave Q3 2024 earnings conference call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during the call you require immediate assistance, please press star, zero for the Operator. This call is being recorded on Thursday, November 14, 2024.

I would now like to turn the conference over to Kevin Hunt, Investor Relations. Please go ahead.

Kevin Hunt

Thank you and good morning. With me today are Dr. Alan Baratz, our Chief Executive Officer, and John Markovich, our Chief Financial Officer.

Before we begin, I would like to remind everyone that this call may contain forward-looking statements and should be considered in conjunction with cautionary statements contained in our earnings release and the company’s most recent periodic SEC report. During today’s call, management will provide certain information that will constitute non-GAAP financial and operational measures under SEC rules, such as non-GAAP gross profit, non-GAAP gross margin, non-GAAP adjusted operating expenses, adjusted EBITDA loss, and bookings. Reconciliations to GAAP financial measures and certain additional information are also included in today’s earnings release, which is available in the Investor Relations section of our company website at www.dwavequantum.com.

I will now hand over the call to Alan.

Alan Baratz

Thanks Kevin, and good morning everyone. It’s great to be with you again, and thank you all for joining us today.

It’s an exciting time in the quantum industry with interest levels increasing at a rapid rate, and I’m pleased to be able to update you on the momentum that we are seeing here at D-Wave. Interest in our technology continues to grow and we believe it is evident that annealing quantum computing is the critical accelerant to commercial adoption of quantum technology, and let me be clear - it is our 5,000 qubit Advantage quantum computer, the largest and most powerful quantum computer in the world, that is driving this adoption. Moreover, it is showing up in bigger wins like NTT DOCOMO, Japan’s largest wireless carrier with more than 87 million subscribers, where our quantum application is slated to move into production.