On August 6, D-Wave Quantum Inc. fell 11.59% in regular trading, trading at $19.585/share, with turnover of $117 million. The decline was triggered by the company's Q2 earnings report released before market open, which missed expectations on both top and bottom lines.

D-Wave Quantum reported a quarterly loss of $(0.13) per share, missing the analyst consensus estimate of $(0.10) by 30 percent. This represents a 62.5 percent deterioration from losses of $(0.08) per share in the year-ago quarter. Revenue came in at $3.076 million, falling well short of the $4.025 million estimate. The stock had risen over 5% in pre-market trading on news of a partnership with Nasdaq's Verafin unit to explore quantum computing applications in financial crime detection, but the significant earnings miss swiftly reversed that optimism.

D-Wave Quantum Inc. is a quantum computing pioneer founded in 1999, offering full-stack quantum computing systems, software, and services focused on commercial-grade quantum solutions across logistics, financial services, drug discovery, and other industries.

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