D-Wave Quantum surges after upbeat rev outlook

D-Wave Quantum's QBTS.N shares up 15.5% at $6.72 early Thurs after co's 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, which rose in sympathy on Weds, adding to gains on Thurs: Quantum Computing Inc QUBT.O 5%, Rigetti Computing RGTI.O 1.5%, while IonQ IONQ.Nnow off 1% after edging into positive territory earlier

Meanwhile, shares of Quantum Corp QMCO.O were up 8.5%. Quantum Corp, however, provides solutions for artificial intelligence and unstructured data, and is not involved in quantum computing

With move on Thurs, QBTS shares down about 20% YTD but up nearly seven-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