Schwab Research Gives QBTS an F: D-Wave Quantum Inc Data as of 03/20/2026 SCHWAB EQUITY RATING: F Strongly Underperform Percentile Ranking: 97 Data as of 03/20/2026 A 1-10 Strongly Outperform BUY B 11-30 Outperform BUY C 31-70 Marketperform HOLD D 71-90 Underperform SELL F 91-100 Strongly Underperform SELL Last week's rating: F Strongly Underperform Percentile Ranking: 94 Data as of 03/13/2026 Schwab Equity Ratings is a quantitative measure of the equity's prospects for stock price appreciation over the next twelve months in relation to its market peers. PRICE VOLATILITY OUTLOOK High Above average price volatility Data as of 03/20/2026 High Above average price volatility Medium Average price volatility Low Below average price volatility N/A Volatility score not available Last week's rating: High Data as of 03/13/2026 Price Volatility Outlook measures the degree of variance typically demonstrated by the equity in relation to its peers within the same A-F ratings group. The outlook's measurement is based on a six month forecast. Managing a Portfolio Using Schwab Equity Ratings. THIS WEEK LAST WEEK AVERAGE IMPORTANCE D Growth Grade Negative Negative Medium F Quality Grade Negative Negative High D Sentiment Grade Negative Negative Medium F Stability Grade Negative Negative Medium D Valuation Grade Negative Negative Low QUARTERLY POSITIVE/NEGATIVE EARNINGS SURPRISE ANNOUNCEMENT $-0.12 $-0.41 $-0.55 $-0.019 Next earnings announcement is expected in the week of 5/7 Price as of 3/23/26 $16.31 Market Capitalization $6.0 Billion Asset Class Small Cap Beta 1.72 METRICS P/Free Cash Flow last 4Q -- 124.7 P/Sales last 4Q 245.39 8.16 Price/Book 6.9 15.2 MOMENTUM METRICS (%) 4 week stock price change -9.6 -3.8 26 week stock price change -36.5 -1.7 FINANCIAL METRICS (%) Gross margin 82.6 53.9 Net margin -1444.1 23.2 Return on assets -63.7 17.2 Return on equity -77.6 146.5
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