D-Wave Quantum reported third-quarter revenue of $4.5 million, up 21% from a year earlier. Bookings for the first nine months of the year reached $37.4 million, a 611% increase, while remaining performance obligations surged 1,221% to $38.3 million. The company expects to convert approximately 59% of that backlog into revenue over the next 12 months. D-Wave also secured up to $100 million in CHIPS Act funding, delivered Italy’s first annealing quantum computer, and expanded its partnerships with NTT DOCOMO, LG CNS, and SkyWater.
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