D-Wave Reports Fourth Quarter and Year-End 2023 Results
First quarter FY24 Bookings expected to be at least $4.3 million representing a minimum 36% growth over the fourth quarter of fiscal 2023, 47% growth over the first quarter of fiscal 2023 and representing the Company’s 8th consecutive quarter of year-over-year growth in quarterly Bookings.
- First quarter FY24 Bookings expected to be at least $4.3 million representing a minimum 36% growth over the fourth quarter of fiscal 2023, 47% growth over the first quarter of fiscal 2023 and representing the Company’s 8th consecutive quarter of year-over-year growth in quarterly Bookings.
- Revenue: Revenue for the fourth quarter of fiscal 2023 was $2.9 million, an increase of $0.5 million, or 21%, from fiscal 2022 fourth quarter revenue of $2.4 million, and an increase of $0.3 million, or 13%, from the fiscal 2023 third quarter revenue of $2.6 million, representing D-Wave's third consecutive quarter of sequential quarter-to-quarter growth in revenue.
- Bookings1: Bookings for the fourth quarter of fiscal 2023 were $3.1 million, an increase of $0.8 million, or 34%, from fiscal 2022 fourth quarter Bookings of $2.4 million, and an increase of $0.2 million, or 8%, from the fiscal 2023 third quarter Bookings of $2.9 million, representing D-Wave’s seventh consecutive quarter of year-over-year growth in quarterly Bookings.
- Non-GAAP Gross Margin2: Non-GAAP gross margin for the fourth quarter of fiscal 2023 was 80.2%, an increase of 7.6% from the fiscal 2022 fourth quarter Non-GAAP gross margin of 72.6%, and an increase of 4.6% from the fiscal 2023 third quarter Non-GAAP gross margin of 75.6%.