vs
Side-by-side financial comparison of D-Wave Quantum Inc. (QBTS) and Worksport Ltd (WKSP). Click either name above to swap in a different company.
Worksport Ltd is the larger business by last-quarter revenue ($4.7M vs $2.8M, roughly 1.7× D-Wave Quantum Inc.). On growth, Worksport Ltd posted the faster year-over-year revenue change (62.0% vs 19.2%). Worksport Ltd produced more free cash flow last quarter ($-6.3M vs $-20.0M). Over the past eight quarters, Worksport Ltd's revenue compounded faster (204.2% CAGR vs -2.7%).
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.
Worksport LtdWKSPEarnings & Financial Report
Worksport Ltd is a cleantech company specializing in portable solar energy solutions and custom truck bed accessories. Its core offerings include solar-powered tonneau covers for pickup trucks and portable mobile power stations, serving the North American automotive aftermarket and consumer clean energy segments.
QBTS vs WKSP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.8M | $4.7M |
| Net Profit | $-42.3M | — |
| Gross Margin | 64.8% | 30.1% |
| Operating Margin | -1266.0% | -129.6% |
| Net Margin | -1538.0% | — |
| Revenue YoY | 19.2% | 62.0% |
| Net Profit YoY | 50.8% | — |
| EPS (diluted) | $-0.13 | $-0.65 |
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 | $4.7M | ||
| Q3 25 | $3.7M | $5.0M | ||
| Q2 25 | $3.1M | $4.1M | ||
| Q1 25 | $15.0M | $2.2M | ||
| Q4 24 | $2.3M | $2.9M | ||
| Q3 24 | — | $3.1M | ||
| Q2 24 | $2.2M | $1.9M | ||
| Q1 24 | $2.5M | $512.6K |
| Q4 25 | $-42.3M | — | ||
| Q3 25 | $-140.0M | $-4.9M | ||
| Q2 25 | $-167.3M | $-3.7M | ||
| Q1 25 | $-5.4M | $-4.5M | ||
| Q4 24 | $-86.1M | — | ||
| Q3 24 | — | $-4.1M | ||
| Q2 24 | $-17.8M | $-4.0M | ||
| Q1 24 | $-17.3M | $-3.7M |
| Q4 25 | 64.8% | 30.1% | ||
| Q3 25 | 71.4% | 31.3% | ||
| Q2 25 | 63.8% | 26.4% | ||
| Q1 25 | 92.5% | 17.7% | ||
| Q4 24 | 63.8% | 11.1% | ||
| Q3 24 | — | 7.9% | ||
| Q2 24 | 63.6% | 15.4% | ||
| Q1 24 | 67.3% | 7.3% |
| Q4 25 | -1266.0% | -129.6% | ||
| Q3 25 | -741.8% | -95.6% | ||
| Q2 25 | -856.3% | -88.1% | ||
| Q1 25 | -75.3% | -190.0% | ||
| Q4 24 | -876.2% | -137.0% | ||
| Q3 24 | — | -125.1% | ||
| Q2 24 | -863.0% | -203.5% | ||
| Q1 24 | -710.6% | -709.9% |
| Q4 25 | -1538.0% | — | ||
| Q3 25 | -3743.9% | -98.3% | ||
| Q2 25 | -5406.4% | -91.0% | ||
| Q1 25 | -36.1% | -199.1% | ||
| Q4 24 | -3727.9% | — | ||
| Q3 24 | — | -132.4% | ||
| Q2 24 | -814.4% | -208.9% | ||
| Q1 24 | -702.3% | -724.6% |
| Q4 25 | $-0.13 | $-0.65 | ||
| Q3 25 | $-0.41 | $-0.75 | ||
| Q2 25 | $-0.55 | $-0.71 | ||
| Q1 25 | $-0.02 | $-1.05 | ||
| Q4 24 | $-0.43 | $-1.14 | ||
| Q3 24 | — | $-1.40 | ||
| Q2 24 | $-0.10 | $-1.55 | ||
| Q1 24 | $-0.11 | $-1.75 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $884.5M | $5.9M |
| Total DebtLower is stronger | — | $2.7M |
| Stockholders' EquityBook value | $852.2M | $22.9M |
| Total Assets | $915.8M | $30.7M |
| Debt / EquityLower = less leverage | — | 0.12× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $884.5M | $5.9M | ||
| Q3 25 | $836.2M | $3.8M | ||
| Q2 25 | $819.3M | $1.4M | ||
| Q1 25 | $304.3M | $5.1M | ||
| Q4 24 | $178.0M | $4.9M | ||
| Q3 24 | — | $1.9M | ||
| Q2 24 | — | $3.4M | ||
| Q1 24 | — | $3.5M |
| Q4 25 | — | $2.7M | ||
| Q3 25 | — | $2.9M | ||
| Q2 25 | — | $2.5M | ||
| Q1 25 | — | $3.1M | ||
| Q4 24 | — | $5.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $852.2M | $22.9M | ||
| Q3 25 | $670.6M | $19.8M | ||
| Q2 25 | $694.3M | $17.3M | ||
| Q1 25 | $207.4M | $20.1M | ||
| Q4 24 | $62.6M | $17.4M | ||
| Q3 24 | — | $16.4M | ||
| Q2 24 | $-21.5M | $19.1M | ||
| Q1 24 | $-37.0M | $18.9M |
| Q4 25 | $915.8M | $30.7M | ||
| Q3 25 | $865.8M | $27.0M | ||
| Q2 25 | $843.6M | $23.6M | ||
| Q1 25 | $325.6M | $26.7M | ||
| Q4 24 | $199.9M | $25.7M | ||
| Q3 24 | — | $24.9M | ||
| Q2 24 | $61.8M | $27.2M | ||
| Q1 24 | $48.6M | $27.3M |
| Q4 25 | — | 0.12× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.14× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | — | 0.30× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-18.4M | $-6.1M |
| Free Cash FlowOCF − Capex | $-20.0M | $-6.3M |
| FCF MarginFCF / Revenue | -727.9% | -132.4% |
| Capex IntensityCapex / Revenue | 60.3% | 3.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-75.8M | $-18.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-18.4M | $-6.1M | ||
| Q3 25 | $-19.0M | $-4.3M | ||
| Q2 25 | $-15.3M | $-3.1M | ||
| Q1 25 | $-19.3M | $-3.8M | ||
| Q4 24 | $2.0M | $-2.2M | ||
| Q3 24 | — | $-1.5M | ||
| Q2 24 | $-14.5M | $-3.6M | ||
| Q1 24 | $-12.1M | $-2.8M |
| Q4 25 | $-20.0M | $-6.3M | ||
| Q3 25 | $-20.1M | $-4.6M | ||
| Q2 25 | $-16.0M | $-3.2M | ||
| Q1 25 | $-19.7M | $-4.0M | ||
| Q4 24 | $1.1M | $-2.2M | ||
| Q3 24 | — | $-1.7M | ||
| Q2 24 | $-15.0M | $-3.7M | ||
| Q1 24 | $-12.4M | $-3.0M |
| Q4 25 | -727.9% | -132.4% | ||
| Q3 25 | -536.5% | -92.1% | ||
| Q2 25 | -518.1% | -77.1% | ||
| Q1 25 | -131.4% | -180.4% | ||
| Q4 24 | 46.2% | -75.4% | ||
| Q3 24 | — | -54.5% | ||
| Q2 24 | -687.7% | -195.1% | ||
| Q1 24 | -504.0% | -586.7% |
| Q4 25 | 60.3% | 3.3% | ||
| Q3 25 | 27.2% | 7.3% | ||
| Q2 25 | 24.2% | 1.7% | ||
| Q1 25 | 2.9% | 9.0% | ||
| Q4 24 | 41.1% | 0.9% | ||
| Q3 24 | — | 5.3% | ||
| Q2 24 | 25.0% | 6.4% | ||
| Q1 24 | 12.4% | 41.5% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
QBTS
| Transferred Over Time | $2.4M | 89% |
| Other | $306.0K | 11% |
WKSP
Segment breakdown not available.
