vs
Side-by-side financial comparison of A2Z CUST2MATE SOLUTIONS CORP. (AZ) and D-Wave Quantum Inc. (QBTS). Click either name above to swap in a different company.
D-Wave Quantum Inc. is the larger business by last-quarter revenue ($2.8M vs $1.5M, roughly 1.8× A2Z CUST2MATE SOLUTIONS CORP.). A2Z CUST2MATE SOLUTIONS CORP. runs the higher net margin — -90.4% vs -1538.0%, a 1447.6% gap on every dollar of revenue. On growth, D-Wave Quantum Inc. posted the faster year-over-year revenue change (19.2% vs -1.6%).
D-Wave Quantum Inc. is a quantum computing company with locations in Palo Alto, California and Burnaby, British Columbia. D-Wave claims to be the world's first company to sell computers that exploit quantum effects in their operation. D-Wave's early customers include Lockheed Martin, the University of Southern California, Google/NASA, and Los Alamos National Laboratory.
AZ vs QBTS — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.5M | $2.8M |
| Net Profit | $-1.4M | $-42.3M |
| Gross Margin | 34.0% | 64.8% |
| Operating Margin | -265.9% | -1266.0% |
| Net Margin | -90.4% | -1538.0% |
| Revenue YoY | -1.6% | 19.2% |
| Net Profit YoY | 60.4% | 50.8% |
| EPS (diluted) | — | $-0.13 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $2.8M | ||
| Q3 25 | $1.5M | $3.7M | ||
| Q2 25 | $1.2M | $3.1M | ||
| Q1 25 | $2.0M | $15.0M | ||
| Q4 24 | — | $2.3M | ||
| Q3 24 | $1.6M | — | ||
| Q2 24 | $1.1M | $2.2M | ||
| Q1 24 | — | $2.5M |
| Q4 25 | — | $-42.3M | ||
| Q3 25 | $-1.4M | $-140.0M | ||
| Q2 25 | $-12.6M | $-167.3M | ||
| Q1 25 | $-6.8M | $-5.4M | ||
| Q4 24 | — | $-86.1M | ||
| Q3 24 | $-3.5M | — | ||
| Q2 24 | $-3.2M | $-17.8M | ||
| Q1 24 | — | $-17.3M |
| Q4 25 | — | 64.8% | ||
| Q3 25 | 34.0% | 71.4% | ||
| Q2 25 | 23.3% | 63.8% | ||
| Q1 25 | 31.7% | 92.5% | ||
| Q4 24 | — | 63.8% | ||
| Q3 24 | 43.9% | — | ||
| Q2 24 | 7.4% | 63.6% | ||
| Q1 24 | — | 67.3% |
| Q4 25 | — | -1266.0% | ||
| Q3 25 | -265.9% | -741.8% | ||
| Q2 25 | -585.9% | -856.3% | ||
| Q1 25 | -381.4% | -75.3% | ||
| Q4 24 | — | -876.2% | ||
| Q3 24 | -167.0% | — | ||
| Q2 24 | -272.1% | -863.0% | ||
| Q1 24 | — | -710.6% |
| Q4 25 | — | -1538.0% | ||
| Q3 25 | -90.4% | -3743.9% | ||
| Q2 25 | -1085.4% | -5406.4% | ||
| Q1 25 | -342.1% | -36.1% | ||
| Q4 24 | — | -3727.9% | ||
| Q3 24 | -224.7% | — | ||
| Q2 24 | -277.4% | -814.4% | ||
| Q1 24 | — | -702.3% |
| Q4 25 | — | $-0.13 | ||
| Q3 25 | — | $-0.41 | ||
| Q2 25 | — | $-0.55 | ||
| Q1 25 | $-0.19 | $-0.02 | ||
| Q4 24 | — | $-0.43 | ||
| Q3 24 | $-0.15 | — | ||
| Q2 24 | $-0.05 | $-0.10 | ||
| Q1 24 | — | $-0.11 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $43.2M | $884.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $71.3M | $852.2M |
| Total Assets | $81.9M | $915.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $884.5M | ||
| Q3 25 | $43.2M | $836.2M | ||
| Q2 25 | $28.5M | $819.3M | ||
| Q1 25 | $24.2M | $304.3M | ||
| Q4 24 | — | $178.0M | ||
| Q3 24 | $3.4M | — | ||
| Q2 24 | $653.0K | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $852.2M | ||
| Q3 25 | $71.3M | $670.6M | ||
| Q2 25 | $31.5M | $694.3M | ||
| Q1 25 | $31.3M | $207.4M | ||
| Q4 24 | — | $62.6M | ||
| Q3 24 | $-504.0K | — | ||
| Q2 24 | $-340.0K | $-21.5M | ||
| Q1 24 | — | $-37.0M |
| Q4 25 | — | $915.8M | ||
| Q3 25 | $81.9M | $865.8M | ||
| Q2 25 | $46.1M | $843.6M | ||
| Q1 25 | $42.2M | $325.6M | ||
| Q4 24 | — | $199.9M | ||
| Q3 24 | $10.2M | — | ||
| Q2 24 | $7.2M | $61.8M | ||
| Q1 24 | — | $48.6M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-4.0M | $-18.4M |
| Free Cash FlowOCF − Capex | — | $-20.0M |
| FCF MarginFCF / Revenue | — | -727.9% |
| Capex IntensityCapex / Revenue | — | 60.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-75.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-18.4M | ||
| Q3 25 | $-4.0M | $-19.0M | ||
| Q2 25 | $-5.9M | $-15.3M | ||
| Q1 25 | $-3.8M | $-19.3M | ||
| Q4 24 | — | $2.0M | ||
| Q3 24 | $-658.0K | — | ||
| Q2 24 | $-3.7M | $-14.5M | ||
| Q1 24 | — | $-12.1M |
| Q4 25 | — | $-20.0M | ||
| Q3 25 | — | $-20.1M | ||
| Q2 25 | — | $-16.0M | ||
| Q1 25 | — | $-19.7M | ||
| Q4 24 | — | $1.1M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $-15.0M | ||
| Q1 24 | — | $-12.4M |
| Q4 25 | — | -727.9% | ||
| Q3 25 | — | -536.5% | ||
| Q2 25 | — | -518.1% | ||
| Q1 25 | — | -131.4% | ||
| Q4 24 | — | 46.2% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -687.7% | ||
| Q1 24 | — | -504.0% |
| Q4 25 | — | 60.3% | ||
| Q3 25 | — | 27.2% | ||
| Q2 25 | — | 24.2% | ||
| Q1 25 | — | 2.9% | ||
| Q4 24 | — | 41.1% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 25.0% | ||
| Q1 24 | — | 12.4% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AZ
Segment breakdown not available.
QBTS
| Transferred Over Time | $2.4M | 89% |
| Other | $306.0K | 11% |
