D-Wave Quantum rises after upbeat rev outlook

D-Wave Quantum's QBTS.N shares up 2.9% premarket to $5.99 after current-qtr rev forecast tops Wall Street analysts' expectations

Palo Alto, California-based co early Thurs says expects Q1 2025 rev to exceed $10 mln, driven by the sale of an Advantage annealing quantum computer

Analysts on avg had called for Q1 rev of ~$2.6 mln, per LSEG data

Q4 rev decreased 21% y/y to $2.3 mln, which was in-line with consensus

Co's Q4 net loss widened to $86.1 mln from $16 mln loss a yr-ago

On Weds, QBTS shares soared as high as $6.33 before ending session up ~8% at $5.82 after co said its quantum computer outperformed one of the world's most powerful classical supercomputers

Shares of other quantum computing names also rose in sympathy on Weds, including Quantum Corp QMCO.O, Quantum Computing Inc QUBT.O, Rigetti Computing RGTI.O and IonQ IONQ.N

Through Weds close, QBTS shares down 31% YTD but up nearly six-fold over the past six months

All 5 analysts covering QBTS have "buy" rating on the stock and their median PT is $8.50, up from $2.50 on Dec 13 - LSEG