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QBTS vs QSI: Which Quantum Stock Is Better?

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

Direct verdict: QBTS vs QSI

QBTS leads this data snapshot on 3 of the five headline market, financial, runway, return and dilution measures with comparable data. The better investment still depends on valuation, technology execution and risk tolerance.

QBTS is the larger company at $5.43B market cap, about 20× the size of QSI ($265.67M).

QBTS reports more revenue ($24.59M vs $2.44M for QSI, latest fiscal year).

On cash runway — the metric that decides who needs to raise money first — QBTS is stronger (59mo vs 15mo).

QBTS vs QSI Performance (% return, all start at 0%)
4/135/126/107/138/119/10-40%+0%+40%+80%+120%
QSI+62.2%QBTS+3.9%
MetricQBTSD-Wave QuantumQSIQuantum-Si
Market
Price$14.60$1.22
Market Cap$5.43B$265.67M
1Y Return-58.4%-29.9%
52W High$46.75$3.10
52W Low$12.75$0.69
Financials
Revenue (latest FY)$24.59M$2.44M
Revenue YoY+178.5%-20.3%
Net Income-$355.06M-$101.34M
Cash & Equivalents$546.24M$111.78M
Cash Runway59mo15mo
Risk
Going Concern FlagNoNo
ATM Offerings (dilution)12129
Daily Short Vol %62.8%45.9%
Beta (1Y vs SPY)1.761.53
Government & Research
Federal Awards Total$40.00K$381.06K
Academic Citations——
Patents——
Quantum Technology
Physical Qubits5,627—
Qubit ModalityPhysical Qubits (Quantum Annealing, Pegasus topology)—
2Q Gate Fidelity——
Cloud PlatformsD-Wave Leap (Annealing + select gate-model simulator beta)—
Roadmap TargetDual-platform: annealing utility today + gate-model roadmap — gate-model simulator beta launched October 2026; initial 17-qubit gate-model system targeted for 2026; 49 qubits in 2027; 181 qubits in 2028; 10 logical qubits in 2030; 100 logical qubits executing 1M+ operations by 2032 via dual-rail qubitsProteus commercial launch targeted for Q2 2027 with a 20-amino-acid commercial kit; interim September 2026 data project approximately 60× more alignments per full run than Platinum Pro
Company
Founded19992017
HeadquartersBurnaby, BC, CanadaGuilford, CT
Employees382145
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 QSI FAQ

Is QBTS or QSI the bigger company?

QBTS is larger, with a market cap of $5.43B versus $265.67M for QSI.

Which has the longer cash runway, QBTS or QSI?

QBTS's cash runway is 59mo and QSI's is 15mo (current cash ÷ trailing-twelve-month operating burn; "CF+" means cash-flow positive).

What technology do QBTS and QSI use?

D-Wave Quantum (QBTS): Physical Qubits (Quantum Annealing, Pegasus topology). Quantum-Si (QSI): Quantum Biology. Qubit counts are not directly comparable across different modalities.

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