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QBTS vs BTQ: Which Quantum Stock Is Better?

D-Wave Quantum (Quantum Annealing) vs BTQ Technologies (Quantum Security) — live market, SEC financial and quantum-hardware data side by side.

QBTS is the larger company at $6.00B market cap, about 13× the size of BTQ ($477.88M).

QBTS reports more revenue ($24.59M vs $230.19K for BTQ, latest fiscal year).

On cash runway — the metric that decides who needs to raise money first — QBTS is stronger (72mo vs 7mo).

They take different technical paths: QBTS reports 4,400 qubits (Physical Qubits (Quantum Annealing, Zephyr topology)), while BTQ reports its qubit count (Software-Defined (Neutral-Atom Emulation & Control)) — raw counts are not directly comparable across modalities.

QBTS vs BTQ Performance (% return, all start at 0%)
1/272/253/264/275/266/25-50%-25%+0%+25%+50%
BTQ-18.0%QBTS-34.4%
MetricQBTSD-Wave QuantumBTQBTQ Technologies
Market
Price$16.21$3.33
Market Cap$6.00B$477.88M
1Y Return-14.1%—
52W High$46.75$16.00
52W Low$12.75$2.09
Financials
Revenue (latest FY)$24.59M$230.19K
Revenue YoY+178.5%-52.7%
Net Income-$355.06M-$17.95M
Cash & Equivalents$588.40M$8.75M
Cash Runway72mo7mo
Risk
Going Concern FlagNoNo
ATM Offerings (dilution)1211
Daily Short Vol %68.7%51.2%
Beta (1Y vs SPY)1.231.81
Government & Research
Federal Awards Total$40.00K—
Academic Citations——
Patents——
Quantum Technology
Physical Qubits4,400—
Qubit ModalityPhysical Qubits (Quantum Annealing, Zephyr topology)Software-Defined (Neutral-Atom Emulation & Control)
2Q Gate Fidelity——
Cloud PlatformsD-Wave Leap (Direct)MIMIQ (cloud and on-premises), SDT QuREKA, aQCess digital twin
Roadmap TargetDual-platform: annealing utility today + gate-model roadmap (June 2026 Investor Day) — initial 17-qubit gate-model system 2026, 49 qubits 2027, 181 qubits 2028, 10 logical qubits 2030, 100 logical qubits executing 1M+ operations by 2032 via dual-rail qubits (Quantum Circuits acquisition)Deploy the aQCess digital twin as the 400+ qubit platform comes online; QLU v1 targeted for mid-2027; expand MIMIQ/QLU integrations across neutral-atom hardware
Company
Founded19992021
HeadquartersBurnaby, BC, CanadaVancouver, BC, Canada
Employees382—
Company DNA0–100 rank vs all tracked stocks · missing data = 0
MomentumScaleRevenueRunwayGov $Research

Momentum = 1Y return · Scale = market cap · Runway capped at 36mo · Gov $ = federal awards · Research = citations + patents. Dollar axes use log scale.

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QBTS vs BTQ FAQ

Is QBTS or BTQ the bigger company?

QBTS is larger, with a market cap of $6.00B versus $477.88M for BTQ.

Which has the longer cash runway, QBTS or BTQ?

QBTS's cash runway is 72mo and BTQ's is 7mo (current cash ÷ trailing-twelve-month operating burn; "CF+" means cash-flow positive).

What technology do QBTS and BTQ use?

D-Wave Quantum (QBTS): Physical Qubits (Quantum Annealing, Zephyr topology). BTQ Technologies (BTQ): Software-Defined (Neutral-Atom Emulation & Control). Qubit counts are not directly comparable across different modalities.

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