D-Wave Quantum has emerged as a leader in quantum computing, analysts say, and Wall Street is throwing its support behind the company in a raft of research notes following its latest earnings report.

D-Wave Quantum (QBTS) stock rallied nearly 19% on Thursday, as the quantum computing company said that it expects its Q1 2025 revenue to exceed

Regardless, it is unlikely to be a game-changer for the stock in the near term. D-Wave Quantum remains a capital-intensive company with very little revenue. It will remain a high-risk dilutive investment for the foreseeable future.