Form 8-K

8-K — D-Wave Quantum Inc.

Accession: 0001907982-26-000076

Filed: 2026-06-01

Period: 2026-06-01

CIK: 0001907982

SIC: 7374 (SERVICES-COMPUTER PROCESSING & DATA PREPARATION)

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — qbts-20260601.htm (Primary)

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________________________________________________________

FORM 8-K

_____________________________________________________________

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 1, 2026

_____________________________________________________________

D-Wave Quantum Inc.

(Exact Name of Registrant as Specified in Its Charter)

_____________________________________________________________

Delaware 001-41468 88-1068854

(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)

2650 East Bayshore Road

Palo Alto, California

94303

(Address of principal executive offices)

(650) 285-2881

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

_____________________________________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common stock, par value $0.0001 per share QBTS New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 7.01 Regulation FD Disclosure.

On June 1, 2026, D-Wave Quantum Inc. (“D-Wave” or the “Company”) announced a new gate-model roadmap designed to accelerate the development of commercial, fault-tolerant quantum computing. Targeting 100 logical qubits capable of successfully performing over one million operations by 2032, the roadmap combines D-Wave’s expertise in high-coherence dual-rail qubits and quantum error correction, with its proven ability to engineer, scale and commercialize superconducting quantum systems.

The roadmap outlines a progression of technical milestones designed to improve qubit fidelity, advance large-scale computations and support the development of commercially useful quantum applications. Key roadmap milestones include:

•2026: Delivery of a 17-physical-qubit system that supports logical error rates 2 times lower than physical error rates

•2027: Completion of a 49-phsyical-qubit system that can deliver an expected 20-fold error reduction factor over the physical error rate

•2028: Completion of a 181-physical-qubit system that can deliver an expected 2,000-fold error reduction factor over the physical error rate, representing the scalable blueprint for fault-tolerant architectures

•2030: Completion of a 10-logical-qubit system that can support the first fault tolerant algorithms

•2032: Completion of a 100-logical-qubit system capable of successfully performing more than one million operations that can support initial quantum chemistry and quantum AI applications

According to D-Wave’s CEO, Dr. Alan Baratz, the Company’s superconducting dual-rail architecture is a fundamentally different approach to fault-tolerant quantum computing, and D-Wave expects this will position the Company not only to compete, but also to redefine how quickly the technology becomes commercial. A copy of the press release is attached as Exhibit 99.1.

The information in this Item 7.01 to this Current Report on Form 8-K, including Exhibit 99.1, is intended to be furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description

99.1

Press release, dated June 1, 2026.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: June 1, 2026

D-Wave Quantum Inc.

By: /s/ Alan Baratz

Name: Alan Baratz

Title: President & Chief Executive Officer

EX-99.1

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Document

D-Wave Charts a New Course to Fault-Tolerant Quantum Computing with Gate-Model Roadmap

New gate-model roadmap targets 100 logical qubits capable of successfully performing over one million operations by 2032 through scalable superconducting dual-rail architecture and quantum error correction

PALO ALTO, Calif. — June 1, 2026 — D-Wave Quantum Inc. (NYSE: QBTS), (“D-Wave” or the “Company”), the only dual-platform quantum computing company providing both annealing and gate-model systems, software and services, today announced a new gate-model roadmap designed to accelerate the development of commercial, fault-tolerant quantum computing. Targeting 100 logical qubits capable of successfully performing over one million operations by 2032, the roadmap combines D-Wave’s expertise in high-coherence dual-rail qubits and quantum error correction, with its proven ability to engineer, scale and commercialize superconducting quantum systems.

“The industry has spent years talking about fault tolerance. We believe D-Wave has a highly differentiated and credible path to achieving it,” said Dr. Alan Baratz, CEO of D-Wave. “Our superconducting dual-rail architecture is a fundamentally different approach to fault-tolerant quantum computing that we expect will position D-Wave not only to compete, but also to redefine how quickly the technology becomes commercial.”

D-Wave believes the future of commercial gate-model quantum computing will be defined not by raw physical qubit counts alone, but by the ability to reliably execute large-scale computations for real-world applications. While much of the industry focuses on scaling physical qubits, D-Wave is pursuing a differentiated approach centered on reducing errors at the hardware level. Its dual-rail qubit architecture embeds error detection directly into the qubits, making errors detectable during computation at the single-qubit level. In contrast to many other gate-model hardware modalities that cannot detect qubit errors, D-Wave’s dual-rail qubits are designed to identify approximately 90% of errors as they occur to dramatically lower the number of physical qubits required to perform error correction. D-Wave has also demonstrated, with error detection, 99.9% two-qubit fidelities, meaning physical errors occur only about once in every 1,000 operations.

The roadmap, which will be shared in detail at D-Wave’s first-ever Investor Day today, outlines a progression of technical milestones designed to improve qubit fidelity, advance large-scale computations and support the development of commercially useful quantum applications. Key roadmap milestones include:

•2026: Delivery of a 17-physical-qubit system that supports logical error rates 2 times lower than physical error rates

•2027: Completion of a 49-phsyical-qubit system that can deliver an expected 20-fold error reduction factor over the physical error rate

•2030: Completion of a 10-logical-qubit system that can support the first fault tolerant algorithms

•2032: Completion of a 100-logical-qubit system capable of successfully performing more than one million operations that can support initial quantum chemistry and quantum AI applications

D-Wave’s roadmap is built on superconducting technology, which can run quantum error correction cycles 100 to 1000 times faster than neutral atom or trapped ion systems. In addition, the Company views Lambda as a key metric that should be used to measure progress toward fault-tolerant quantum computing. Lambda is a measure of how rapidly a quantum computer’s errors are reduced as more error-correction capability is added. Today, the broader quantum computing industry has demonstrated Lambda values around 2, meaning each increment in error correction reduces errors by about half. D-Wave’s roadmap is targeting a Lambda of 10, a major leap the Company expects will reduce errors far more quickly, by a factor of 10 for each increment in error correction, making it possible to achieve fault-tolerant quantum computing with significantly fewer physical qubits.

Combined with D-Wave’s proprietary on-chip cryogenic control technology, proven superconducting systems expertise and production-ready quantum cloud infrastructure, the Company believes its dual-rail gate-model roadmap presents a fast, efficient, and achievable path to commercial gate-model quantum computing. With more than 15 years of experience designing and building superconducting quantum computing systems, D-Wave has successfully delivered six generations of annealing quantum computers, culminating in its award winning

Advantage2™ system. As the only provider of annealing and gate-model technologies, D-Wave is uniquely positioned to participate in the full addressable quantum computing market.

Learn more about D-Wave’s gate-model roadmap and technology here.

About D-Wave Quantum Inc.

D-Wave is a leader in the development and delivery of quantum computing systems, software, and services. It is the world’s first commercial supplier of quantum computers, and the first and only to offer dual-platform quantum computing products and services, spanning both annealing and gate-model quantum computing technologies. D-Wave’s mission is to help customers realize the value of quantum today through enterprise-grade systems available on-premises and via its Leap™ quantum cloud service, which offers 99.9% availability and uptime. More than 100 organizations across commercial, government and research sectors trust D-Wave to address complex computational challenges using quantum computing. Learn more about realizing the value of quantum computing today and how D-Wave is shaping the quantum-driven industrial and societal advancements of tomorrow: www.dwavequantum.com.

Forward-Looking Statements

Certain statements in this press release are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by the following words: “believe,” “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “trend,” “estimate,” “predict,” “project,” “potential,” “seem,” “seek,” “future,” “outlook,” “forecast,” “projection,” “continue,” “ongoing,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management’s control, including the risks discussed under the caption “Item 1A. Risk Factors” in Part I of our most recent Annual Report on Form 10-K or any updates discussed under the caption “Item 1A. Risk Factors” in Part II of our Quarterly Reports on Form 10-Q and in our other filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this press release in making an investment decision, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.

Media Contact:

Alex Daigle

media@dwavesys.com

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