D-Wave Quantum (QBTS) Registration Filing summary

Company overview and business model

• Mission centers on enabling customers to solve complex problems using quantum computing, with a focus on enterprise-scale adoption and deployment.

• Holds a first-mover advantage in commercial-grade annealing quantum computing, with a history of industry firsts including commercial system launches and quantum supremacy demonstrations.

• Offers a full stack of quantum systems, software, and services, including cloud-based quantum computing as a service (QCaaS), professional services, and system sales.

• Product development emphasizes higher qubit count, coherence, and energy scale, with ongoing research in qubit architecture and hybrid/classical solver advancements.

• Headquarters in Palo Alto, California, with three leased operating facilities in North America.

Financial performance and metrics

• As of June 2, 2025, 306,752,135 shares of common stock were outstanding, with a market value held by non-affiliates of approximately $5.2 billion based on a share price of $17.11.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for general corporate purposes, including working capital, capital expenditures, and potential acquisitions or business expansion.

• No current agreements for acquisitions or capital expenditures funded by this offering as of the prospectus date.