As you might know, D-Wave Quantum Inc. (NASDAQ:QBTS) last week released its latest quarterly, and things did not turn out so great for shareholders. Statutory earnings fell substantially short of expectations, with revenues of US$3.1m missing forecasts by 24%. Losses exploded, with a per-share loss of US$0.13 some 24% below prior forecasts. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.

Following the latest results, D-Wave Quantum's 16 analysts are now forecasting revenues of US$42.0m in 2026. This would be a sizeable 238% improvement in revenue compared to the last 12 months. The loss per share is expected to greatly reduce in the near future, narrowing 42% to US$0.39. Yet prior to the latest earnings, the analysts had been forecasting revenues of US$42.8m and losses of US$0.39 per share in 2026.

The consensus price target was unchanged at US$35.25, suggesting that the business - losses and all - is executing in line with estimates. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. Currently, the most bullish analyst values D-Wave Quantum at US$43.00 per share, while the most bearish prices it at US$22.00. These price targets show that analysts do have some differing views on the business, but the estimates do not vary enough to suggest to us that some are betting on wild success or utter failure.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the D-Wave Quantum's past performance and to peers in the same industry. It's clear from the latest estimates that D-Wave Quantum's rate of growth is expected to accelerate meaningfully, with the forecast 10x annualised revenue growth to the end of 2026 noticeably faster than its historical growth of 31% p.a. over the past three years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 16% per year. Factoring in the forecast acceleration in revenue, it's pretty clear that D-Wave Quantum is expected to grow much faster than its industry.

The Bottom Line

The most important thing to take away is that the analysts reconfirmed their loss per share estimates for next year. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. The consensus price target held steady at US$35.25, with the latest estimates not enough to have an impact on their price targets.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. At Simply Wall St, we have a full range of analyst estimates for D-Wave Quantum going out to 2028, and you can see them free on our platform here..

Even so, be aware that D-Wave Quantum is showing 3 warning signs in our investment analysis , and 1 of those shouldn't be ignored...

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.