D-Wave Quantum sees rising bookings and plans investor day amid early market traction despite revenue drop.

D-Wave Quantum Inc. reported a significant increase in Q1 bookings to $33.4 million, indicating growing market interest with an expectation to sell 2–3 quantum systems annually. Although its revenue dropped nearly 90% year-over-year, the company maintains a strong net cash position of approximately $553 million and a robust sales pipeline. The upcoming investor day on June 1 is seen as a key event for the company, which is navigating competitive risks and ongoing cash burn while moving toward commercialization. This suggests cautious optimism about D-Wave's future despite recent financial challenges.