D-Wave Quantum (QBTS) stock soared on Thursday after the q😼uantum computing company reported record revenue and a 🦋narrower loss in the first quarter.

D-Wave reported first-quarter revenue of $15 million, a 509% increase from a year ago. The surge in revenue was driven by the sale of an Advantage quantum computing system to Germany’s Jülich Supercomputing Centre. D-Wave’s net loss narrowed to $5.4 million, or 2 cents a share, from $17.3 million, or 11 cents per share, last year. 

D-Wave finished the quarter with a record consolidated cash balance of $304.3 million, an amount that management expects will be sufficient 🌄to fund the company until it’s profitable♋. 

Latest Quarter 'Most Significant in D-Wave's History,' CEO Says

“The first quarter of 2025 was arguably the most significant in D-Wave’s history,” said CEO Alan Baratz. The company, he said, “became the first to demonstrate 澳洲幸运5开奖号码历史查询:quantum supremacy over classical computing on a useful real-world problem” with a peer-reviewed paper published in the scientific journal Science in March.

Quantum computing stocks stepped into the spotlight late last year when Alphabet (GOOG) 澳洲幸运5开奖号码历史查询:debuted a quantum computing chip called Willow, which the company claimed can complete computations orders of magnitude faster than the most advanced non-quantum chips. Since then, quantum stocks, including D-Wave, Rigetti Computing (RGTI), and Quantum Computing (QUBT), have been volatile amid highly speculative trading. 

D-Wave ꦕshares were up more than 50% at $10.44 in recent trading on Thursday, approaching their record high of $11.95. Shares of competitors Rigetti and Quantum Computing were up 11% and 19%, respectively.