PALO ALTO, Calif. - D-Wave Quantum (NASDAQ:QMCO) Inc. (NYSE: QBTS), known for its quantum computing systems, software, and services, has announced the Leap Quantum LaunchPad program. This initiative is designed to expedite the adoption of quantum computing applications in business and scientific research by offering a three-month free trial of its technology and expertise. The announcement comes as D-Wave's stock shows remarkable momentum, with a 522.77% surge over the past six months. InvestingPro data reveals multiple positive indicators for the company, with additional insights available to subscribers.
The program provides qualified participants with access to D-Wave's annealing quantum computers, which boast over 5,000 qubits and sub-second solve times, as well as its Leap real-time quantum cloud service. The cloud service features high availability, security, scalability, and a suite of advanced optimization hybrid solvers. Additionally, participants will receive technical guidance from D-Wave's quantum and optimization experts.
D-Wave's annealing quantum computing technology is recognized for its suitability in solving complex optimization problems that are common in modern businesses. With a current market capitalization of $1.95 billion and revenue growth of 14.27% in the last twelve months, the company has worked with over 100 commercial, government, and research customers, with these users submitting more than 200 million problems to D-Wave's Advantage quantum computing systems.
Lorenzo Martinelli, Chief Revenue Officer at D-Wave, stated that the Leap Quantum LaunchPad program is aimed at helping organizations and individuals develop transformative quantum computing applications. The initiative seeks to address challenging business and scientific problems and rapidly move these applications into production deployment.
In addition to the LaunchPad program, D-Wave has expanded access to its Quantum Programming Core and Quick Start Training programs, providing comprehensive training to help participants apply quantum computing to real-world applications.
D-Wave positions itself as a leader in the quantum computing industry, being the first commercial supplier of quantum computers. While the company maintains a moderate debt level and shows strong market momentum, InvestingPro analysis indicates current profitability challenges with an EBITDA of -$72.51M. The company aims to deliver customer value through practical quantum applications in diverse fields such as logistics, artificial intelligence, materials science, drug discovery, and financial modeling. For a comprehensive understanding of D-Wave's potential and risks, investors can access the detailed Pro Research Report, available exclusively on InvestingPro.
The information for this article is based on a press release statement from D-Wave Quantum Inc.
In other recent news, D-Wave Quantum Inc. has made significant strides in the quantum computing sector. The company reported a substantial increase in bookings for fiscal year 2024, exceeding $23 million, marking a 120% rise from the previous year. This growth is attributed to the first customer purchase of its D-Wave Advantage annealing quantum computing system, a development that expands the company's revenue model to include on-premise system sales in addition to its cloud services.
Furthermore, D-Wave Quantum has successfully raised approximately $150 million in cash since the end of the third quarter, and has filed for an additional $150 million at-the-market offering. This move could potentially enhance its financial position and provide further opportunities for growth. Benchmark analysts have maintained a Buy rating on the company, with an upward revision of the stock's price target, viewing these developments as a testament to the growing market demand for quantum computing solutions.
Meanwhile, Craig-Hallum also maintained a Buy rating on D-Wave Quantum, raising the price target significantly and citing a surge in interest for quantum computing stocks. In addition to these financial developments, D-Wave Quantum has seen board-related changes with the resignation of Ziv Ehrenfeld and the strategic appointment of tech industry veteran Sharon Holt. These are all recent developments in D-Wave Quantum's ongoing efforts to establish a strong presence in the quantum computing market.
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