D-Wave Quantum Inc. (QBTS) shares surged 5.09% in pre-market trading on Thursday following the release of its impressive third-quarter financial results for fiscal year 2025. The quantum computing systems company reported significant growth across key metrics, signaling strong momentum in its business operations.

The company's Q3 revenue reached $3.7 million, marking a substantial 100% increase from the $1.9 million reported in the same period last year. This figure also beat analyst expectations of $3.03 million. D-Wave's bookings for the quarter showed remarkable growth, rising 80% to $2.4 million compared to $1.3 million in the previous quarter, indicating robust demand for its quantum computing solutions.

D-Wave reported its highest cash balance in company history, totaling over $836 million. This strong liquidity position provides the company with ample resources to fund its growth initiatives and research and development efforts. The company's customer base has also expanded, with over 100 revenue-generating customers, including nearly two dozen Forbes Global 2000 companies, highlighting the increasing adoption of quantum computing technologies across industries. Additionally, D-Wave announced strategic partnerships and international expansion, including a €10 million booking for a quantum computing facility in Italy, further solidifying its market position and growth prospects in the rapidly evolving quantum computing landscape.