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Side-by-side financial comparison of BT Brands, Inc. (BTBD) and D-Wave Quantum Inc. (QBTS). Click either name above to swap in a different company.
BT Brands, Inc. is the larger business by last-quarter revenue ($3.9M vs $2.8M, roughly 1.4× D-Wave Quantum Inc.). BT Brands, Inc. runs the higher net margin — 23.7% vs -1538.0%, a 1561.8% gap on every dollar of revenue. On growth, D-Wave Quantum Inc. posted the faster year-over-year revenue change (19.2% vs -11.4%). BT Brands, Inc. produced more free cash flow last quarter ($261.8K vs $-20.0M). Over the past eight quarters, BT Brands, Inc.'s revenue compounded faster (-1.8% CAGR vs -2.7%).
BT Brands, Inc.BTBDEarnings & Financial Report
BT Group plc is a British multinational telecommunications holding company headquartered in London, England. It has operations in around 180 countries and is the largest provider of fixed-line, broadband and mobile services in the UK, and also provides subscription television and IT services.
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.
BTBD vs QBTS — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.9M | $2.8M |
| Net Profit | $915.0K | $-42.3M |
| Gross Margin | — | 64.8% |
| Operating Margin | 19.1% | -1266.0% |
| Net Margin | 23.7% | -1538.0% |
| Revenue YoY | -11.4% | 19.2% |
| Net Profit YoY | 516.9% | 50.8% |
| EPS (diluted) | $0.15 | $-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 | $3.9M | $3.7M | ||
| Q2 25 | $3.8M | $3.1M | ||
| Q1 25 | $3.2M | $15.0M | ||
| Q4 24 | — | $2.3M | ||
| Q3 24 | $4.3M | — | ||
| Q2 24 | $4.1M | $2.2M | ||
| Q1 24 | $3.2M | $2.5M |
| Q4 25 | — | $-42.3M | ||
| Q3 25 | $915.0K | $-140.0M | ||
| Q2 25 | $55.0K | $-167.3M | ||
| Q1 25 | $-329.8K | $-5.4M | ||
| Q4 24 | — | $-86.1M | ||
| Q3 24 | $-219.5K | — | ||
| Q2 24 | $-70.0K | $-17.8M | ||
| Q1 24 | $-445.7K | $-17.3M |
| Q4 25 | — | 64.8% | ||
| Q3 25 | — | 71.4% | ||
| Q2 25 | — | 63.8% | ||
| Q1 25 | — | 92.5% | ||
| Q4 24 | — | 63.8% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 63.6% | ||
| Q1 24 | — | 67.3% |
| Q4 25 | — | -1266.0% | ||
| Q3 25 | 19.1% | -741.8% | ||
| Q2 25 | -2.0% | -856.3% | ||
| Q1 25 | -9.0% | -75.3% | ||
| Q4 24 | — | -876.2% | ||
| Q3 24 | -1.7% | — | ||
| Q2 24 | -4.6% | -863.0% | ||
| Q1 24 | -19.8% | -710.6% |
| Q4 25 | — | -1538.0% | ||
| Q3 25 | 23.7% | -3743.9% | ||
| Q2 25 | 1.5% | -5406.4% | ||
| Q1 25 | -10.2% | -36.1% | ||
| Q4 24 | — | -3727.9% | ||
| Q3 24 | -5.0% | — | ||
| Q2 24 | -1.7% | -814.4% | ||
| Q1 24 | -14.0% | -702.3% |
| Q4 25 | — | $-0.13 | ||
| Q3 25 | $0.15 | $-0.41 | ||
| Q2 25 | — | $-0.55 | ||
| Q1 25 | — | $-0.02 | ||
| Q4 24 | — | $-0.43 | ||
| Q3 24 | $-0.04 | — | ||
| Q2 24 | — | $-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 | $3.5M | $884.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $7.7M | $852.2M |
| Total Assets | $11.9M | $915.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $884.5M | ||
| Q3 25 | $3.5M | $836.2M | ||
| Q2 25 | $3.0M | $819.3M | ||
| Q1 25 | $2.7M | $304.3M | ||
| Q4 24 | — | $178.0M | ||
| Q3 24 | $2.0M | — | ||
| Q2 24 | $1.5M | — | ||
| Q1 24 | $1.5M | — |
| Q4 25 | — | $852.2M | ||
| Q3 25 | $7.7M | $670.6M | ||
| Q2 25 | $6.8M | $694.3M | ||
| Q1 25 | $6.7M | $207.4M | ||
| Q4 24 | — | $62.6M | ||
| Q3 24 | $8.5M | — | ||
| Q2 24 | $8.7M | $-21.5M | ||
| Q1 24 | $8.8M | $-37.0M |
| Q4 25 | — | $915.8M | ||
| Q3 25 | $11.9M | $865.8M | ||
| Q2 25 | $11.2M | $843.6M | ||
| Q1 25 | $11.0M | $325.6M | ||
| Q4 24 | — | $199.9M | ||
| Q3 24 | $13.7M | — | ||
| Q2 24 | $14.0M | $61.8M | ||
| Q1 24 | $14.0M | $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 | $325.2K | $-18.4M |
| Free Cash FlowOCF − Capex | $261.8K | $-20.0M |
| FCF MarginFCF / Revenue | 6.8% | -727.9% |
| Capex IntensityCapex / Revenue | 1.6% | 60.3% |
| Cash ConversionOCF / Net Profit | 0.36× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-75.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-18.4M | ||
| Q3 25 | $325.2K | $-19.0M | ||
| Q2 25 | $384.4K | $-15.3M | ||
| Q1 25 | $-306.7K | $-19.3M | ||
| Q4 24 | — | $2.0M | ||
| Q3 24 | $129.3K | — | ||
| Q2 24 | $82.5K | $-14.5M | ||
| Q1 24 | $-408.9K | $-12.1M |
| Q4 25 | — | $-20.0M | ||
| Q3 25 | $261.8K | $-20.1M | ||
| Q2 25 | — | $-16.0M | ||
| Q1 25 | $-431.1K | $-19.7M | ||
| Q4 24 | — | $1.1M | ||
| Q3 24 | $50.4K | — | ||
| Q2 24 | $53.7K | $-15.0M | ||
| Q1 24 | $-521.3K | $-12.4M |
| Q4 25 | — | -727.9% | ||
| Q3 25 | 6.8% | -536.5% | ||
| Q2 25 | — | -518.1% | ||
| Q1 25 | -13.3% | -131.4% | ||
| Q4 24 | — | 46.2% | ||
| Q3 24 | 1.2% | — | ||
| Q2 24 | 1.3% | -687.7% | ||
| Q1 24 | -16.3% | -504.0% |
| Q4 25 | — | 60.3% | ||
| Q3 25 | 1.6% | 27.2% | ||
| Q2 25 | 0.0% | 24.2% | ||
| Q1 25 | 3.8% | 2.9% | ||
| Q4 24 | — | 41.1% | ||
| Q3 24 | 1.8% | — | ||
| Q2 24 | 0.7% | 25.0% | ||
| Q1 24 | 3.5% | 12.4% |
| Q4 25 | — | — | ||
| Q3 25 | 0.36× | — | ||
| Q2 25 | 6.98× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BTBD
Segment breakdown not available.
QBTS
| Transferred Over Time | $2.4M | 89% |
| Other | $306.0K | 11% |
