D-Wave Quantum Inc.'s stock surged 5.07% during intraday trading, staging a notable rebound following a sustained period of decline.

The movement comes as market participants reassess the company's outlook after its first-quarter results revealed a stark contrast between near-term financial performance and future commercial potential. While Q1 revenue fell approximately 81% year-over-year to $2.86 million, the company reported a record surge in bookings of nearly 2,000% to $33.4 million, driven by major contracts including a $20 million system sale to Florida Atlantic University and a $10 million cloud services agreement with a Fortune 100 company.

The significant order backlog, with remaining performance obligations reaching $42.4 million, has intensified the debate among investors over whether the weak current revenue will be offset by accelerated future growth from these substantial new commitments.