By many measures, quantum computing leader D-Wave Quantum Inc. (NYSE: QBTS) has had an excellent start to 2026, but the most impressive statistic of all may be that in January alone its bookings exceeded those of the entire year in 2025. This was thanks to a $10-million deal with a Fortune 100 company and a system sale worth $20 million, primarily. At the same time, the company's cash reserves remain stellar as D-Wave positions itself as a dual-approach company with multiple technological paths.
Still, QBTS stock is not thriving: shares have fallen by about 44% so far in 2026, despite the company's promising news. For those already holding D-Wave shares, the question of where the bottom may be is likely to be top of mind; on the other hand, investors not already invested may be wondering if it's worth holding out longer to get a better price when buying the dip. In short, while it's impossible to say precisely how much farther the D-Wave selloff may go, a closer look at D-Wave's operating runway may ultimately put a limit on dilution risk for the time being.
