$QBTS: Real Company or Quantum Hype?

QBTS went from $0.40 in 2023 to $46.75 at its peak last October. I bought few thousands at $0.95 too. That kind of move usually means one of two things: genuine breakout or retail mania. With QBTS, it’s honestly both.

Revenue grew 179% in 2025 to $24.6M. Sounds great until you remember they’re still losing hundreds of millions a year. Bookings in just the first two months of 2026 already exceeded all of 2025 combined that part is genuinely impressive.

Whats the real edge? They’re the only quantum company running both annealing AND gate-model systems. Every competitor picks one. D-Wave plays both sides now after acquiring Quantum Circuits.

Government money is moving their way too, defence, aerospace, the whole thing. That’s where the sticky, recurring revenue eventually comes from.

Risks are real though. Revenue is lumpy, losses are widening, and full commercial adoption is probably still 3-4 years out.

Analysts have a $32 average target from current ~$21. Make of that what you will.

https://stockanalysis.com/stocks/qbts/forecast/
https://blockchainreporter.net/qbts-stock/

do you think quantum goes mainstream before 2030, or is this still too early to size up seriously?