D-Wave Quantum Inc. (NYSE:QBTS)'s shares are up by 24% over the past year and are down by just as much year-to-date. Cramer hasn't held back discussing the firm and in most appearances, he has stressed the need to evaluate the firm's business. As D-Wave Quantum Inc. (NYSE:QBTS) reported its second quarter earnings on August 6th, the firm's shares closed the day 9% lower.
Cramer discussed the move and wondered whether the market was becoming realistic about D-Wave Quantum Inc. (NYSE:QBTS): "What's incredible is that we never cared about earnings before, for this, for NuScale. And suddenly we care, I don't get it. I just think again, once again, there's kind of a realism sinking in.
Let's, a lot of these guys have had such big moves. They're not based on anything. Or, let's just take some profits.
I think the Situational mindset is going to be with us for a long time. While the shares closed lower, D-Wave Quantum Inc. (NYSE:QBTS)'s earnings came with several key figures that support the bullish argument. Arguably, the strongest of these was the firm's first half of 2026 bookings.
These surged by 1,120% to $35.5 million. The bookings surge came due to purchase and enterprise agreements with Florida University and a Fortune 100 company. Additionally, 62% of D-Wave Quantum Inc. (NYSE:QBTS)'s second quarter revenue of $3.1 million was accounted for by commercial customers.
Both these factors, along with a 668% jump in remaining performance obligations (RPOs), created solid avenues for tailwinds should the firm demonstrate sustained performance in the future. Yet, on the flip side, D-Wave Quantum Inc. (NYSE:QBTS)'s second quarter revenue dipped by 0.6% annually and came after its Q1 revenue had dropped by 81% to $2.9 million due to revenue recognition procedures. Additionally, operational, R&D, acquisitions and other spending has also led the firm's EBITDA loss to widen to $37 million from $20 million.
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