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# D-Wave Quantum: Finally Some Signs Of Tangible Progress (Archive)
- URL: https://www.huntingalphas.com/d-wave-quantum-finally-some-signs-of-tangible-progress-archive/
- Published: 2025-04-29T05:23:00.000Z
- Updated: 2026-02-28T16:42:17.000Z
- Description: Early commercialization emerges, but valuations and insider selling still cap near-term upside.
- Author: Vish (Hunting Alphas)
- Tags: 5-Minute Pitches, #noindex, Archive, #sa-origin, QBTS, Tech

*This 5-Minute Pitch was originally published on Seeking Alpha before the launch of the Hunting Alphas website. It is shared here to showcase my previous work and track record. New 5-Minute Pitches published on this site will not be disseminated anywhere else.*

## Elevator Pitch

- Ahead of Q1 FY25, QBTS has early signs of commercialization via a sharp uptick in backlog, R&D progress, and more real-world application to high-impact use cases across various industries.
- D-Wave Quantum's balance sheet strength has also improved, as recent equity raises and improved cash flow conversion have resulted in longer funding runway estimates.
- The Company is trading at a relatively fair value but is still prohibitively expensive on an absolute basis to justify buys. Large pension fund shareholders cutting their stake is a cautionary sign.
- QBTS vs. SPX500 relative technicals suggest continued range-bound price action ahead.
- Despite improved fundamentals and lower valuations, D-Wave Quantum's short interest levels are higher now vs. Jan'25, and getting close to crowded short levels. This increases upside risk via a short squeeze.

Read the full article [here](https://seekingalpha.com/article/4778976-d-wave-quantum-finally-some-signs-of-tangible-progress?ref=huntingalphas.com).

#### Disclosures and Disclaimers

**Past performance ≠ future results. Not investment advice. See* [**full Disclaimer*](https://www.huntingalphas.com/disclaimer/)**.*