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If you have been reading my posts regularly, you would know that quantum computing is one area of technology that I keep very close tab on.

Enclosed are my 3 recent posts: (click to enjoy !)

• 21 Nov 2025 - QBTS vs RGTI : The Earnings Showdown.

• 02 Nov 2025 - IONQ expensive ? Buy quantum ETF, WQTM !

• 30 Oct 2025 - Trump's Quantum Computing Master Plan. Buy ?

I strongly believe quantum may supersede artificial intelligence in time to come, should both technology frontier remain mutually exclusive.

One of my favourite quantum stocks is $D-Wave Quantum Inc.(QBTS)$ and I have seen it through its highs and lows.

Why QBTS ?

QBTS will be entering 2026 not as a speculative "moonshot," but as a revenue-generating enterprise with a distinct lead in production-grade quantum computing.

It has successfully distinguished itself through its "commercial first" strategy.

Its primary asset consists of a growing portfolio of business contracts and then some.

(1) Contractual Milestones & Revenue Velocity

(a) The €10 Million Italian Anchor:

• In Q4 2025, QBTS secured a US$11.08 million contract with the Italian government and the Q-Alliance.

• This 5-year agreement for 50% capacity of an Advantage2 system in Lombardy is a blueprint for national-level infrastructure deals.

(b) Revenue Growth:

• Revenue hit $3.7 million in Q3 2025.

• It’s a +100% YoY increase from $1.9 million in 2024.

(c) Gross Margin Prowess:

• QBTS’s GAAP gross margin expanded significantly to 71.4% in late 2025.

• It’s up by +55.8% YoY, reflecting the high-margin nature of its Quantum-Computing-as-a-Service (QCaaS) model.

(d) Global 2000 Penetration:

Unlike gate-model competitors, QBTS’s annealing quantum technology is already solving complex optimization problems for global giants.

It is serving 100+ revenue-generating customers, including two dozen Forbes Global 2000 companies.

Notable 2025 additions and renewals include:

• SkyWater: The largest US pure-play semiconductor foundry.

• Japan Tobacco: Utilizing quantum for complex pharmaceutical molecular simulation.

• BASF: Optimizing liquid filling and manufacturing workflows.

• North Wales Police: Proving quantum can optimize the deployment of police vehicles in real-time.

(2) The Technology: Advantage2 and Benchmarking Success

QBTS’s 6th-generation processor - Advantage2, features 4,400+ qubits capacity, has moved from calibration to full operation.

(a) Premium Performances Factors:

• Recent benchmarks show the Advantage2 is 25,000x faster than previous generations for 3D lattice problems common in materials science.

• QBTS demonstrated measurable processing prowess is up to 1,000,000x faster than classical supercomputers for specific magnetic material problems.

(b) Precision and Connectivity:

• The system offers 5x better solution quality on high-precision tasks and features 20-way qubit connectivity, allowing it to map and solve significantly larger real-world problems.

(3) "Green" Solution:

• Unlike AI data centers that consume gigawatts, QBTS systems operate at cryogenic temperatures with extremely low power draw once operational.

• In a world where data centers are straining power grids, QBTS's "green" advantage makes it an attractive partner for ESG-conscious enterprises.

• CEO Alan Baratz has highlighted that integrating quantum into AI model training and inference can lead to better models built with significantly lower energy consumption.

• By integrating quantum into AI workflows, QBTS aims to reduce the "compute-energy tax" by up to -80% for complex optimization tasks and streamline operations with a fraction of the carbon footprint of classical AI superclusters.

January 2026 Spike?

Investors will do well to take note of Wed, 07 Jan 2026 as it could be a major, potential "breakout" day for QBTS, based on 3 events.

(1) CES 2026 and CES Foundry:

CES (formerly the Consumer Electronics Show) :

• It is the world's most influential annual technology trade show, organized by the Consumer Technology Association (CTA).

• Held every January in Las Vegas, it serves as the global stage for companies to unveil breakthrough technologies, from AI and robotics to sustainability and vehicle tech.

• The 4-day event attracts over 140,000 industry professionals.

QBTS will be the primary sponsor of the newly launched CES Foundry - a specialized program, dedicated to the intersection of AI and quantum innovation

QBTS will be positioned at the heart of the world’s most influential tech event.

On 7 Jan 2025, VP Murray Thom will host a masterclass and demo within the venue, providing hands-on evidence of how QBTS's technology solves complex global challenges through real-world customer success stories.

(2) Synergy Showcase:

The event will focus on the integration of (i) Quantum, (ii) AI, and (iii) Blockchain.

Should QBTS unveils new, high-profile commercial partnerships or technical milestones during this global stage, a price spike is highly possible & desired - watchout !

(3) Institutional Validation:

Recent filings (26 Dec 2025) show that Osaic Holdings and other big professional investors are buying large amounts of QBTS eg. one order for over 137,000 shares.

This is a clear sign that "smart money" is moving in to get ahead of the major CES event.

Technical Analysis & Trajectory

As of late December 2025, QBTS displays a strongly bullish but volatile chart formation:

As of 26 Dec 2025

Moving Averages:

• The stock is trading well above its 200-day SMA ($18.89), confirming a long-term uptrend.

• However, it has recently hovered near its 50-day SMA ($28.32), suggesting a period of consolidation before the next leg up.

Relative Strength Index:

• RSI is currently mid-range at 47.46, indicating the stock is neither overbought nor oversold, providing ample "runway" for a spike in early January 2026.

MACD.

• MACD (12,26) reading of 0.24 as of 26 Dec 2025, shows mildly bullish momentum, with the 12-period EMA exceeding the 26-period EMA. (see above)

• This confirms the short-term uptrend over the longer-term average despite recent consolidation.

Trading Volume.

• QBTS’s trading volume averages around 46.96 million. Recent 34% spike on 22 Dec 2025 saw volume jump to 63.12 million shares. (see above)

• Positive volume development shows aggressive buyers and hesitant sellers.

Formation.

QBTS’s YTD stock price movement is close to a high‑beta rally into a blow‑off top, followed by leans toward an upside resolution, with the big caveat that it will likely be volatile and catalyst‑driven.

The next meaningful move is more likely a retest of the $30s or $40s (courtesy of 7 Jan 2026’s catalyst), with attempt to break the series of lower highs.

If QBTS can push and hold back above the 50‑day MA on strong volume, that would confirm the bullish read of this formation.

Ratings & Price Targets.

Wall Street has turned aggressively bullish on QBTS in the final weeks of 2025:

Consensus Rating:

• Strong Buy (14 Buy ratings, 1 Hold, 1 Sell).

• Average Target: $38.75, representing a potential +54% upside from recent levels.

Financial Institution Breakdown:

• 11 Dec 11 2025 - Mizuho initiated “Outperform” rating and $46.00 price target.

• 16 Dec 16 2025 - Jeffries initiated “Buy” rating with $45.00 price target, citing QBTS as the only pure-play with claimed quantum supremacy.

• 17 Dec 2025 - Wedbush initiated “Outperform” rating with $35.00 price target.

• 03 Dec 2025 - Evercore ISI initiated “Outperform” rating and $44 price target.

QBTS - The Financial Fortress.

• As of 30 Sep 2025, QBTS’s consolidated cash balance totaled a record $836.2 million.

• This provides a massive multi-year runway that eliminates "liquidity risk" associated with other quantum startups.

• Above self-explanatory table is a ‘at a glance’ comparison of QBTS earnings vs industry quantum pure play peers.

2026 Guidance.

On 02 Dec 2025, QBTS officially launched its US Government Business Unit, a strategic move designed to convert years of R&D into high-value federal defense and infrastructure contracts.

1. The Leadership - Jack Sears Jr.

Appointment of Jack Sears Jr. to the executive team (announced on 02 Dec 2 2025) is the most significant personnel move in QBTS’s recent history.

• Sears is not a physicist. He has been a Federal Growth Strategist with 25 years in Defense sector (formerly Chief Growth Officer at Precise Systems, that supports US Department of Defense (DoD) programs).  

• His mission-critical expertise lies in (a) P&L responsibility, (b) federal compliance, and (c) managing multi-billion dollar project pipelines for US’s DoD and US Navy.

(2) 2026’s Strategic Implications.

The Alabama Advantage:

• In November 2025, it was reported that QBTS’s Advantage2 system was operational at Davidson Technologies in Huntsville, Alabama. (see above)

• This physical on-site presence allows US government to run "sensitive” applications that cannot be processed over a public cloud, a prerequisite for most classified DoD work.  

• National Security Demand: In late November 2025, US defense leadership—including the Undersecretary for Research and Engineering—identified quantum as a critical technology of focus. QBTS is positioning its annealing technology as the immediate solution for logistics, transportation, and supply chain optimization for the Army and Navy.

Behind a win, there are losses also.

In summary, QBTS is a top quantum stock for 2026 because its near-term catalysts, 'green' energy benefits, and good-size cash holdings - outweighs its volatility & execution risks. Agree ?

Due to creative differences and bias, I will scale back my posting.

My 2,430 ‘timeless’ posts remain available (for now) for those who value fundamentals as Mr Buffett had pointed — invest in businesses, not pick stocks.

To new subscribers, no flashy screens to entice blind investing. I aim to share on how to fish, not fish for you.

I’m grateful to share what I know. In the alternate moo moo universe, where I am valued & appreciated, I will still be sharing. Good luck on your i-journey.

Remember to check out my other posts. (See below). Help to Repost ok, Thanks.

Must Read: Click on below titles to access. Repost to share, Like as encouragement ok. Thanks.

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• Do you think QBTS is a better quantum pure-play stock compared to others ’?

• Do you think QBTS stock price will be able to achieve a breakthrough on 7 Jan 2025 ?

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